Read the fine print: Would you prefer GM’s 60-day money-back guarantee or some cash back?

GM launched its new 60-day money-back guarantee program just over a week ago and already consumers are talking up the new incentive on car forums. However, it doesn’t seem like they have a lot of nice things to say about GM’s new program.

While most agree that the 60-day money-back guarantee sounds like a great promise, many are worried about how much money they’re actually going to get back if they return their new Buick, Cadillac, Chevrolet or GMC.

GM’s FAQ on the subject says that “the customer will receive the purchase price of the vehicle itself after any rebates, discounts, plus applicable sales taxes that were actually paid.” But shoppers on’s CarSpace forums are asking questions such as “What if it’s a financed deal and two payments already came out?” or “What if there was a trade-in involved?”

Some are also put off by a term in the agreement that states vehicles with more than $200 in damages cannot be returned.

Given these issues, shoppers are saying that they would prefer a more comprehensive warranty or lower prices over the buy back program. Some dealers are even offering customers $500 dollars to opt out of the program and say that customers prefer that over the 60-day money-back guarantee.

Nonetheless, there are still some who are trying to plot a two-month test-drive of a new Corvette or the Cadillac CTS-V.

– By: Omar Rana

Source: AutoObserver