Find Financial News Online

General Motors extension of its vehicle return policy is an opportunity for many bad credit car loan customers

Program extended

Here at Auto Credit Express we see that General Motors has announced that it will be extending its 60 day return policy on most GM vehicles (neither the Saturn nor the Pontiac division are included).

The original program kicked off in September and was scheduled to end on November 30th. According to a blog article written by Bob Lutz just before the program began and entitled “May the Best Car Win”, he stated that “We will be highlighting our quality, design, performance, road manners, fuel efficiency, 100,000-mile/5-year warranty, and our new 60-day satisfaction guarantee. We will directly compare our attributes to the competition and “may the best car win.”

Lutz went on to state, “In short, we’re going to take away every last excuse not to consider a vehicle from Cadillac, Chevrolet, Buick and GMC. We have confidence in our products. This campaign is designed to encourage the consumer to share in that confidence.”

It appears that the program has worked. According to an Automotive News article, “”Since the program began, GM has sold about 142,000 new vehicles.” Of those transactions, only 449 elected to participate in the return program. The rest took a $500 cash-back rebate instead. While 4, to date, have been returned under the program, Automotive News also reports that “49 people have filed paperwork to return their vehicles but have not yet done so.”

Advantages of the program

For all customers, the new campaign will enable them to effectively “test drive” a new car for up to 60 days to determine if it really fulfills their transportation needs – both in terms of utility and performance. Customers also have the choice of a $500 dollar rebate, in lieu of participating in the program.

For bad credit car loan buyers in particular, it allows customers nearly two months to decide if the vehicle they’ve chosen also fits into their budget in terms of monthly payment as well as insurance and fuel costs. If they’ve already decided that the car will work, they can take advantage of an extra $500 towards their down payment, which will lower the monthly payment and reduce interest expenses.

Vehicles included

The program continues to cover new 2009 and 2010 model Buicks, Chevrolets, Cadillacs and GMCs. As was the case in the original program, customers who choose to participate will be allowed to return their vehicles from 31 to 60 days after delivery with a maximum of 4,000 miles.

The program is not available for leased vehicles and the new extension means it will be extended through January 4th of 2010.

The Bottom Line

General Motor’s latest program gives bad credit auto loan buyers a chance to both “test drive” a car and decide whether or not they have chosen the correct vehicle for their budgets – certainly a big advantage over a normal buying situation. At Auto Credit Express, we think it’s a great idea. It’s also a great idea to extend the program through the 4th of January, months that include both November and December that are notorious for being slow in the retail auto industry and just may drum up extra traffic for GM dealers.

So if you do have bad credit and you’re thinking of reestablishing your credit with a bad credit car loan, it would be a great idea if you visited our web site at www.autocreditexpress.com, which can help you find a GM dealer that specializes in bad credit car loans. Our Resources section is the place to visit if you have any more questions about the process and, unlike other sites, our toll free number is listed on every page in case you have any additional questions.

Similar Posts:

• Bad Credit Car Loan Buyers can Save Big on a Saturn or Pontiac
• Avoid Buying a Clunker
• Incentives for Toyota Owners Help Bad Credit Car Loan Buyers
• Chrysler Announces November Incentives
• Hyundai Assurance Set to Expire