GM is doing so well with the refund program that it will be continuing it

October 31, 2009 – 10:50 am – No Comment

American Car

General Motors will be continuing its money back guarantee into January of 2010.

In the program, someone can purchase a new GM car and after owning the car for 30 days they can return it, up to 60 days after the purchase (of course there are some stipulations as to what they can and can’t return).

A spokesman for GM said that only 15 cars have been returned since the program began in September. However, only one percent of those buying cars are actually choosing to have the refund option anyway. Here is what is going on: GM is offering a $500 incentive to opt out of the refund option. Many people (according to GM, 99%) are opting out and taking the cash incentive.

Of course, if you don’t opt for the cash incentive, and choose to return your car, then you have to wait 30 days after the time of purchase and make sure that you haven’t put more than 4000 miles on the car or done $200 worth of damage to it.

To give you an idea of how much $200 worth of damage is to a car, I recently had to take mine into the shop because some jerk hit my car with their door hard enough to make a small dent and take the paint off of my car. The repair bill (thankfully I didn’t have to pay for it) was over $600.

Racking up $200 in damage is easy on a car. So as soon as you know you want to return the car, park it in the garage and hope nothing happens to it (True story: A microwave fell on my old car when we were moving into our house while it was parked in the garage).