GM buyers choose rebate over guarantee

NEW YORK (AP) — For most GM customers, a money- back guarantee just isn’t as tempting as money up front.

General Motors Co. CEO Fritz Henderson says that the “vast majority” of GM buyers are choosing a $500 rebate instead of the automaker’s 60-day money-back guarantee.

Under GM’s money-back guarantee promotion, which runs through Nov. 30, customers can return their car between day 31 and 60 of ownership nearly free of charge. They can also waive the policy and take a $500 rebate toward the purchase of their vehicle instead.

Henderson said during an online chat Friday that “consumers appreciate the option, but the facts speak for themselves.”

The automaker launched the promotion last month with an ad blitz starring GM Chairman Ed Whitacre.