Chevrolet Offers Money Back Guarantee
Published July 10, 2012
By Jeff Cobb
Were you thinking about a Volt or another economical car in Chevrolet’s line-up but were not quite sure whether you’d have buyer’s remorse later?
Well, taking a strategy out of the playbook of other retailers of less-high-priced consumer goods, from today through Sept. 4, Chevrolet says it is offering a “Love it or return it” money back guaranty.
According to Chevrolet spokesperson, Afaf Farah, the offer is a repeat of a similar company wide program GM ran in 2009, and is being offered again in light of Chevrolet having a number of new and improved models, and the company wants to woo buyers back to the brand with a bold offer that shows it really has confidence in its lineup.
You can read the fine print here, but in short, Chevrolet says the deal is on for any 2012 or 2013 model Chevrolet – so this is not just about its “eco” class cars, but any Chevy.
If you buy an eligible vehicle, and hold onto it from at least 31 up to 60 days, drive fewer than 4,000 miles, and decide the vehicle is really not for you, then no worries.
Chevrolet will take the vehicle back for the full actual selling price plus the sales tax you paid – but you will forfeit registration fee, title fee, or municipal and other miscellaneous fees as applicable.
The “Buyback Price” is fully disclosed prior to taking delivery of the vehicle, and the intent is to avoid unwanted surprises – so, while there are terms and condition to also abide by, there is no such thing as haggling, a restocking fee, or other penalties for your decision not to keep your 31-60-day-old Chevy.
“It’s simple – if you don’t love it, return it,” says Chevrolet, adding it will be offered in addition to current vehicle-specific incentives.
“We have transformed the Chevrolet lineup, so there is no better time than now to reach out to new customers with the love it or return it guarantee and very attractive, bottom line pricing,” said Chris Perry, Chevrolet global vice president of marketing. “We think customers who have been driving competitive makes or even older Chevrolets will be very pleased by today’s Chevrolet designs, easy-to-use technologies, comprehensive safety and the quality built into all of our cars, trucks and crossovers.”
Other caveats include this does not apply to leasing, but purchases only, and if you return it, it must be through the same participating dealer. Also the vehicle must not have incurred damage or non-warranted repairs in excess of $ 300, regardless of whether such damage has been repaired. And furthermore, it must not have been subject to any liens or other security interests other than a lien for the original financing used to purchase it.
OK, but it still sounds like a pretty liberal deal. One is reminded of certain retailers where you can buy, use, enjoy a product, but then for any reason at all, return it – now slightly used – for your money back.
But, someone might ask, what happens if some person tries to game the system?
In other words, could this deal become like a relatively minimal cost 31-60 day rental if someone was willing to put out the upfront costs and go through the trouble of buying the car?
The short answer is, yes. But Farah said the last time GM did this, it had around a 1-percent return rate while seeing an incremental increase in sales.
So, not unlike an offer at a bookstore that lets you read the whole book then return it for money back, Chevrolet is taking the chance that most people won’t take the option out, and it will sell more cars.
What do you think? Is this a good offer? Is it good enough to make you buy that now-discounted Volt you were thinking about in light of 2013 models being just around the corner?
Full details and limitations can be found at chevyconfidence.com.