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MONDAY, NOVEMBER 23, 2009
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4

GM to Try Money-Back Guarantee

Firm hopes 60-day refund period will rouse sales

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(Newser) – General Motors is offering a good old money-back guarantee as a ploy to entice buyers to its showrooms, USA Today reports. Buyers will be able to get a full refund on any new GM model within 60 days of purchase. The automaker plans to announce the refund program in ads featuring Edward Whitacre, GM’s chairman, on Sunday talk shows and NFL games this weekend.

"There is a certain amount of risk,” in the refund program, said GM chief Bob Lutz. “So what? Doing nothing is not an option.”

In this frame grab provided by General Motors, company Chairman Edward Whitacre Jr. appears in a new GM television commercial.
In this frame grab provided by General Motors, company Chairman Edward Whitacre Jr. appears in a new GM television commercial.   (AP Photo/General Motors)
A banner saying 'Save Vauxhall Jobs' , seen in front of a GM logo outside the Vauxhall factory in Luton, England, Thursday Sept. 10, 2009.
A banner saying 'Save Vauxhall Jobs' , seen in front of a GM logo outside the Vauxhall factory in Luton, England, Thursday Sept. 10, 2009.   (AP Photo/Matt Dunham)
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4 comments
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odowd80
Sep 11, 09 8:27 AM CDT
This is a good idea and should have been a part of new car purchases for years now. I don't know that it needs to be 60 days, but at least 14. Reply
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Yourself
Sep 11, 09 12:10 PM CDT
i fully agree with that. my fear in this is that people will try to use this as a rental service. I just hope they really mean it when they say "full refund" and not some BS like bestbuy has with the "restocking fees"
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bewilderbeast
Sep 11, 09 9:38 AM CDT
Hmm, when you're selling dodgy machinery this is a risky strategy . . Or is it 70 days before GM products first break down? Best Thing you can do is Just Don't Buy a New Car. For the environment AND for your own personal finances. Reply
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Reader65069154
Sep 11, 09 12:33 PM CDT
Super. And if GM gets soaked on this endeavor, who cares, it's the taxpayer's money. Reply
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