GM 60-Day Satisfaction Guarantee Explained

The General Motors "60-Day Satisfaction Guarantee" will be in effect until November 30th, 2009. Consumers who purchase a Chevrolet, Cadillac, GMC, or Buick vehicle (note Saab, Hummer, Pontiac, and Saturn are not included) will have the option of returning it if not 100% satisfied. Lack of satisfaction is up to the consumer to define, though there are several key limitations put in place by the program for returning the car. We'll use some consumer-friendly bullets to outline them:

A consumer must drive the vehicle for at least 30 days before returning it, and a vehicle cannot be returned after 60 days. This means the window for return is day 31 through day 60.

The consumer buyback price (i.e. what GM will pay you after your return the car) reflects the purchase price of the vehicle itself after any rebates, discounts, plus applicable sales taxes that were actually paid. The customer's buyback price does not include any other taxes, licensing, titling or registration fees, insurance, accessories, dealer fees, extended warranties, finance charges, or any other expenses incurred by the customer at the time of taking delivery of the new vehicle.

When you bring the vehicle back, it can't have more than 4,000 miles on it. This means a round trip drive from Los Angeles to New York is not an option (depending on how you do it, Los Angeles to Chicago and back might be feasible).

You break it, you buy it. The vehicle cannot be returned with over $200 worth of damage, so weekend racing in a new Cadillac CTS-V or off-roading in a Chevrolet Silverado are discouraged if you are feeling unsatisfied with your purchase. Even if you have a great mechanic, crashed vehicles are yours to keep.

If you work for GM, you can still participate. Your co-workers might be insulted by the act of RETURNING ONE OF YOUR OWN PRODUCTS, but technically you are eligible.

To return the vehicle, you will need a copy of the bill of sale or other transaction documentation, a copy of your driver's license, a copy of the registration showing the vehicle is registered in your name, and proof of insurance verifying the vehicle was insured since the delivery date.

There is no guarantee you'll get your trade-in back (assuming you traded something in), and GM has no obligation to sell it back to you, so keep that in mind before you return your only means of getting yourself to work in the morning.

For other rules of the program, such as how the guarantee doesn't apply to vehicle leases or medium duty trucks (think Chevrolet Silverado 3500), check out GM's 60 Day Guarantee Website.