GM's 60-Day Money Back Guarantee?

[ABM]

According to GM's new CEO:

"If you're not 100% satisfied within 60 days, simply return the car. No questions asked."

Interesting.

 

[PapaG]

According to GM's new CEO:

"If you're not 100% satisfied within 60 days, simply return the car. No questions asked."

Interesting.

So, can I buy multiple cars from GM and return all of them after 59 days? Can I buy a new car every 59 days and exchange for another new car purchase? Who is backing this guarantee, btw? A car significantly depreciates in value the moment you drive it off of the lot. Somebody has to eat the difference. It wouldn't be the taxpayers, would it?

 

[ABM]

Somebody has to eat the difference. It wouldn't be the taxpayers, would it?

http://www.reuters.com/article/pressRelease/idUS165952+14-Sep-2009+PRN20090914

 

[barfo]

http://www.reuters.com/article/pressRelease/idUS165952+14-Sep-2009+PRN20090914

I think that article is a little bit stupid.

Either this will work or it won't. If it works it will make money for the taxpayers (by increasing sales of GM cars).

If it doesn't work, they'll presumably give up on it and try something different. Anything GM does is risking the taxpayers money at this point, it's stupid to say "oh, the taxpayers will be on the hook for this" as if we wouldn't be on the hook if they decided to spend money on advertising or R&D or whatever.

It's either a good idea or a bad idea, and time will tell. But it's a good idea or a bad idea independent of who owns GM. My guess is it won't drive very many sales, and there will be few people returning the cars.

And no, PapaG, you can't buy a whole bunch of cars and return them all. One return per customer.

barfo

 

[ABM]

Here are some details:

http://www.thetruthaboutcars.com/gm-60-day-satisfaction-guarantee-the-fine-print/

 

[BTOWN_HUSTLA]

works for caddilacs? I need an escalade*

*until thanksgiving!

 

[PapaG]

works for caddilacs? I need an escalade*

*until thanksgiving!

Hot date on the horizon? Get some 24s with chrome and return it within 60 days!

 

[bodyman5001]

Hot date on the horizon? Get some 24s with chrome and return it within 60 days!

Then, his friend can buy one too and they can each go back and buy the car the other guy returned at a huge discount! Genius.

I don't personally care because these cars will have to have full coverage if bought used, more work for me.

Plus, if you know someone with a new but high mileage Escalade that needs a new rearend, you can sell him the one out of the car you are about to return for cash money son!

Just tow it back say it broke already and get your money back.

 

[PapaG]

Then, his friend can buy one too and they can each go back and buy the car the other guy returned at a huge discount! Genius.

I don't personally care because these cars will have to have full coverage if bought used, more work for me.

Plus, if you know someone with a new but high mileage Escalade that needs a new rearend, you can sell him the one out of the car you are about to return for cash money son!

Just tow it back say it broke already and get your money back.

That actually is a great idea. Why wouldn't somebody do this? Get a friend, buy a tricked out GM vehicle, return it, and then swap cars on ths used lot. Rep for you!

 

[bodyman5001]

That actually is a great idea. Why wouldn't somebody do this? Get a friend, buy a tricked out GM vehicle, return it, and then swap cars on ths used lot. Rep for you!

Thanks, I wonder if the dealer would mind. I mean, if you literally told the dealer you did it on purpose and went in with your buddy to make sure both cars were there at the same.

Like I keep telling my Obama loving boss, I am going to do all I can to get back as much tax money from the government as I can. He says I am a hypocrite for trying to get the 8000 dollar home credit. Ok, I just thought I would take that off of my 77 thousand dollar tab. (or whatever outrageous amount it is)

I will say the depreciation on a used GM vehicle is sure as hell more than the cash for clunker rebate, plus you can buy any car you want.

 

[PapaG]

Thanks, I wonder if the dealer would mind. I mean, if you literally told the dealer you did it on purpose and went in with your buddy to make sure both cars were there at the same.

Like I keep telling my Obama loving boss, I am going to do all I can to get back as much tax money from the government as I can. He says I am a hypocrite for trying to get the 8000 dollar home credit. Ok, I just thought I would take that off of my 77 thousand dollar tab. (or whatever outrageous amount it is)

I will say the depreciation on a used GM vehicle is sure as hell more than the cash for clunker rebate, plus you can buy any car you want.

If the loss is subsidized, why wouldn't the dealer do this? You get the money for two new vehicles, and you then get another profit on the used vehicle. Uncle Taxpayer pays for the loss, GM profits/stocks soar, and everybody is happy. It would actually make more sense to clue in the dealer to this ruse so the "new" vehicles are available on as used.

What a fantastic idea. Again, props to you. I may actually do this since we're looking for a new car, and so are our neighbors. Now, we just need to find a dealer who wants to make a lot of money.

 

[bodyman5001]

If the loss is subsidized, why wouldn't the dealer do this? You get the money for two new vehicles, and you then get another profit on the used vehicle. Uncle Taxpayer pays for the loss, GM profits/stocks soar, and everybody is happy. It would actually make more sense to clue in the dealer to this ruse so the "new" vehicles are available on as used.

What a fantastic idea. Again, props to you. I may actually do this since we're looking for a new car, and so are our neighbors. Now, we just need to find a dealer who wants to make a lot of money.

Cool, I think you will have more trouble finding a dealer who DOESN'T want to make a lot of money. In fact, I think you might find Bigfoot walking his Chupacabra first.

 

[barfo]

If the loss is subsidized, why wouldn't the dealer do this? You get the money for two new vehicles, and you then get another profit on the used vehicle. Uncle Taxpayer pays for the loss, GM profits/stocks soar, and everybody is happy.

There's a fundamental problem with your analysis here. Uncle Taxpayer isn't paying the refund, GM is. So GMs profits won't soar.

barfo

 

[BTOWN_HUSTLA]

I wonder if there will be a lot of scammers like those fucks who return their heaters at costco once the winter is over.

 

[PapaG]

I wonder if there will be a lot of scammers like those fucks who return their heaters at costco once the winter is over.

Hey, at least Costco eats that loss. In the GM ruse, as a taxpayer, I am a part of the loss. May as well get my money back plus a benefit. I'm also considering throwing some money in GM stock after I do a little more research on the details of this program. Spread the word in aa few weeks. I can make a profit in more than one way.

 

[BTOWN_HUSTLA]

If this is a government backed guarantee, I would classify it as anti-competitive behavior and a primary reason that government should not get into private business.

 

[barfo]

Hey, at least Costco eats that loss. In the GM ruse, as a taxpayer, I am a part of the loss. May as well get my money back plus a benefit. I'm also considering throwing some money in GM stock after I do a little more research on the details of this program. Spread the word in aa few weeks. I can make a profit in more than one way.

No you can't. GM stock isn't publicly traded at present.

barfo

 

[barfo]

If this is a government backed guarantee, I would classify it as anti-competitive behavior and a primary reason that government should not get into private business.

This isn't a government backed guarantee.

barfo

 

[PapaG]

If this is a government backed guarantee, I would classify it as anti-competitive behavior and a primary reason that government should not get into private business.

It is backed by taxpayers. Read the post earlier in the thread by ABM.

 

[PapaG]

This isn't a government backed guarantee.

barfo

So the $50 billion GM took from taxpayers just went away?

 

[BTOWN_HUSTLA]

This isn't a government backed guarantee.

barfo

If it uses bailout money, its government backed.

 

[PapaG]

No you can't. GM stock isn't publicly traded at present.

barfo

So it is rigged. Thanks for clarifying.

 

[barfo]

It is backed by taxpayers. Read the post earlier in the thread by ABM.

I read it, and commented on it.

It's "backed by taxpayers" in the same sense that a money-back guarantee from IBM would be "backed by IBM stockholders". Which is not much of a sense, because if IBM refunds your money, IBM stockholders don't have to ante up any money.

If GM makes a refund on a car, taxpayers do not have to ante up the refund amount.

barfo

 

[BTOWN_HUSTLA]

This is such a fucking stupid program on the outset. 60 day money back guarantee? lame.


IMO they should ensure the american consumer of the quality and build of their vehicles and follow in the footsteps of our future Korean masters and offer a 10 year/100,000 mile warranty.

 

[PapaG]

I read it, and commented on it.

It's "backed by taxpayers" in the same sense that a money-back guarantee from IBM would be "backed by IBM stockholders". Which is not much of a sense, because if IBM refunds your money, IBM stockholders don't have to ante up any money.

If GM makes a refund on a car, taxpayers do not have to ante up the refund amount.

barfo

Bullshit. GM is in business because they took/stole $50 billion from taxpayers. This is a taxpayer-backed scheme.

 

[barfo]

If it uses bailout money, its government backed.

First of all, how do you distinguish which dollars in GMs bank account are bailout money and which aren't?

Secondly, the money the government put in is now GM's money. It's not taxpayers money anymore. We own stock in GM. We are owed money on the loans. We don't own their bank account, and they don't have access to the federal treasury.

barfo

 

[PapaG]

First of all, how do you distinguish which dollars in GMs bank account are bailout money and which aren't?

Secondly, the money the government put in is now GM's money. It's not taxpayers money anymore. We own stock in GM. We are owed money on the loans. We don't own their bank account, and they don't have access to the federal treasury.

barfo

I don't own stock in GM. I can't even buy GM stock. Who is "we", and how do "we" benefit from this program?

 

[BTOWN_HUSTLA]

First of all, how do you distinguish which dollars in GMs bank account are bailout money and which aren't?

Secondly, the money the government put in is now GM's money. It's not taxpayers money anymore. We own stock in GM. We are owed money on the loans. We don't own their bank account, and they don't have access to the federal treasury.

barfo

Until bailout money is paid back in full, I can only assume that anything they spend anything on is operating through and as a result of taxpayer funds.

 

[barfo]

Bullshit. GM is in business because they took/stole $50 billion from taxpayers. This is a taxpayer-backed scheme.

Then you don't know what "taxpayer-backed" means.

If it were taxpayer backed, the government would have to write a check to cover the refund amounts. It's not going to do that, so this is GM-backed. The money paid out in refunds comes from GM.

That's not just semantics. You give a guy 50 bucks. He gambles it betting on the NBA and loses. If you are backing his losses, then you are out $100 - the $50 you already gave him, and the $50 you have to pay his bookie. If you aren't backing his losses, you are only out $50.

barfo

 

[BTOWN_HUSTLA]

remember, GM would have ceased to exist, hence the "bailout". We were given the excuse that without the bailout, they would not be able to continue. "too big to fail".

Since the "bailout" was the lifeline of the company, any of their promotions can only be assumed to be a by-product of the "rescue" program.