Just saw where GM wants you to try their vehicles out with a 60 day money back guarantee, if you dont like them return them.
Sign me up for a ZR-1, or maybe a hard loaded G-8. Anybody else planning to give GM a try?
I read that GM is quot;putting their money where their mouth is.quot;
Aren't they really putting our money where their mouth is?
Shoot, I wouldn't mind driving the heck out of a new Camaro for a month!
... and then give it back!
too bad I dont have the liquid funds to try a vette for 2 months...
What about taxes amp; fees? Would you get those back as well? If so, then this program is likely to be widely abused. If not, then the 60 day money back guarantee does not seem like that big of a deal.
I can't believe it's that simple. There has to be some catches written in or they're really going to be taken down the path !!
Originally Posted by whaap
I can't believe it's that simple. There has to be some catches written in or they're really going to be taken down the path !!
I am sure GM (Government Motors) did a jam up job coming up with the money back guarantee. If you have any doubts look how well the Cash for Clunkers worked.
/guarantee.
Some details:
#8226; The vehicle must be a new 2009 or 2010 Buick, Cadillac, Chevrolet or GMC.
#8226; It must be returned between 31 and 60 days from purchase.
#8226; It must have no more than 4,000 miles.
#8226; The buyer can't be behind in payments.
#8226; If the purchase loan included an additional amount to pay off the loan on a trade-in above what the trade-in was worth, that portion won't be refunded.
The conditions are meant to be simple. quot;We're not going to have a screen full of warnings like in those drug ads where you see the happy geriatric couple and a guy is telling you, 'Taking this medication while eating grapefruit can result in loss of eyesight',quot; Lutz says.
Originally Posted by Bochet
quot;
Get back the price of the car seems to imply that taxes, etc, that you had paid would be non-refundable. I'd feel like an awful ahole, but it would be fun to drive a Vette for a month.
I agree - but if I return something to a retailer, the tax is returned. I guess it would depend if the 'tax' was the same. If the only cost was tags amp; title, I could see people renting certain cars (e.g. vettes).
It is not quite the same thing, but for years Saturn had a 30 day exchange policy. You were responsible for the difference in taxes (and you were refunded the taxes if they were less).
I am not sure how easy it is in some states, but I imagine they are hoping they can get the sales tax back from the state.
Oh, and the Saturns had to be returned in quot;as-newquot; condition. Meaning you could not take it out and trash the tires and then say quot;no thanks.quot;
Mark
Originally Posted by krusovice
I am not sure how easy it is in some states, but I imagine they are hoping they can get the sales tax back from the state.
Sales tax isn't remitted to the state immediately -- it's usually paid on a monthly, quarterly, or annual basis. This MAY be different with car sales, since the DMV often collects the tax when they issue a title.
Here's the commercial that will air on Sunday (video in upper right corner). From the Detroit Free Press.
USAToday has a piece on it as well.
This new program sounds interesting. If you return the vehicle with less than 4,000 miles on it within 60days. So, if you were to buy a Corvette, and drive it a 1/4mile at a time at the local dragstrip, you could get a whole bunch of runs in. Neat.
Sounds like fun - although I've hear the new ECUs have a blackbox feature to record revs and speeds reached. Probably voids the warranty AND the money back guarantee.
racing one may, but who is to say you don't go get a new sedan take your family on vacation then return the car 2 weeks later? Seems like a free rental in a nice brand new car to me.
Brad
Paris to Dakaar, how many miles?
I doubt very much if you will get back a refund for your sales tax and license fees. The states don't refund things like that and when you purchase a car that money goes straight from the dealership to the state. That would probably be incentive enough to keep people from buying a car quot;just for the fun of itquot; and returning it within 60 days. What would the sales tax and license fees be in your state for a new Corvette?
Originally Posted by whaap
I doubt very much if you will get back a refund for your sales tax and license fees. The states don't refund things like that and when you purchase a car that money goes straight from the dealership to the state. That would probably be incentive enough to keep people from buying a car quot;just for the fun of itquot; and returning it within 60 days. What would the sales tax and license fees be in your state for a new Corvette?
I'd say you would get your sales tax charges refunded back to you. I have bought several things in the past and returned them and have always received my sales tax back in addition to my purchase price. Ask any car salesman what the term quot;unwinding a deal'' means and how much commission they receive on the quot;salequot;. I'd also say if a buyer wants to try a car out during the guarantee period from GM they just might delay going to the DMV office to apply for a tag until they were certain they were going to keep the car.
The dealers in my state give you a paper temporary tag that is valid to drive the car for 60 days anyway.
Originally Posted by bosozoku
This MAY be different with car sales, since the DMV often collects the tax when they issue a title.
Not any different here. You pay the dealership the sales tax, who remits it to the state quarterly, and then go pay registration and tag fees at the DMV office.
People with trade in vehicles will be taken. Dealer fees and add-ons will be rampant and not likely returned, registration fees won't be coming back, taxes may or may not, rebates and incentives will have to be returned. You can bet that nobody's going to lose anything on this but the fish that bites.
I sold motorcycles in Michigan and the dealer would not allow anyone to test drive/ride a motorcycle but he did guarantee a refund if someone bought a motorcycle and didn't like it for any reason. However, we would not refund the sales tax or registration costs as that money went to the state almost immediately.
Originally Posted by LL
I read that GM is quot;putting their money where their mouth is.quot;
Aren't they really putting our money where their mouth is?
They're putting their foot where their mouth is. This is another gimmick that won't pull a significant amount of buyers in. I feel a bit for the dealers as I'm sure there will be a large amount of red tape and financial exposure on their part.
Didnt something similar almost bankrupt Mitsubishi in the early 2000's? They did the no payments for a year thing and people just dropped the cars back off and never paid for them.
Jason
When I saw the title I thought it would have to do with GM paying us--I mean the government--back the money they received in the bailout. Silly me.
There has to be some money that GM will be keeping. My understanding is that a quot;money back guaranteequot; means a full refund, tax and all. If that really is what they are doing, the lots will soon be full of beat down pre-owned month old cars with 3999.99 miles.
I wouldn't mind flogging a CTS-V around for a couple of months, but there's definitely got to be a catch somewhere. Either way, it will probably work out to be cheaper than renting the same car for that long. |
Post at 2-7 04:31 AM
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