GM’s 60-day Satisfaction Guarantee Interests Car Buyers

General Motors just launched their 60-day Satisfaction Guarantee that offers a full purchase-price refund to eligible buyers of new GM vehicles until November 30, 2009. As part of GM’s larger “May the Best Car Win” campaign to stand out against the competition, the 60-day Satisfaction Guarantee is GM’s big push to gain back consumer confidence in the company name. GM is betting on their new car line-up and are willing to put cars being returned at risk to move cars off the lots, hopefully for good.

According to ConsumerReports.org, buyers are less likely to consider buying a GM car now than a year ago because of the company’s current economic standing and unappealing product offerings. The 60-day Guarantee aims to improve GM’s image problem while also moving inventory off the lots. GM reportedly expects less than 3% of vehicles to be returned under the Guarantee

If you do decide to buy, returning your vehicle may not be easy as there is lots of fine print. Here’s a quick list straight from GM:

• The Eligible Vehicle must be a new 2009 or 2010 model.
• You have purchased an Eligible Vehicle and taken Delivery between September 14, 2009 and November 30, 2009.
• You must be able to deliver to the Participating Dealership a clean and unencumbered title to the Eligible Vehicle, which title has remained in your name since the Delivery Date of the Eligible Vehicle.
• You must be an individual natural person who is the title owner of the Eligible Vehicle. Businesses, corporations and partnerships do not qualify.
• Your Eligible Vehicle’s odometer must not have more than 4,000 miles since the Delivery Date.
• Your Eligible Vehicle must have been registered and insured in the Buyer’s name since the Delivery Date.
• Your Eligible Vehicle must have no more than $200 of damage as determined by GM or GM’s agent. Such damage may include, without limitation, internal or external scratches, scrapes, dents, odors, rips, burns, etc.
• Your Eligible Vehicle may not be leased.
• Your Eligible Vehicle must have been returned to a Participating Dealership where you purchased it, in the same working order as it was on the Delivery Date.
• Your Eligible Vehicle must not have incurred damage or non-warranted repairs in excess of $200, regardless of whether such damage has been repaired.
• Your Eligible Vehicle must not have been subject to any liens or other security interests other than a lien for the original financing used to purchase the Eligible Vehicle.
• A minimum of thirty (30) days must have passed since the Delivery Date of Your Eligible Vehicle.
• Only one Eligible Vehicle may be returned per household.
• Your Eligible Vehicle must pass a purchase inspection conducted by GM or GM’s agent.

While this might be a good incentive to basically test-drive anything from a pick-up truck to a Corvette for a month, don’t get too carried away with all the excitement. Make sure the Satisfaction Guarantee isn’t the main reason you choose GM, and that you still negotiate for a fair price. Make sure it is the car that is right for you, and not just right for you right now.