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Discussion Starter #1
I just heard from a dealer, starting next Tuesday that GM is offering a 60 days buy back guarantee. If you waive it, you get a 500 dollar rebate? Has anyone else heard about this program or is this dealer making stuff up?
 

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We all know that most people who actually drive the car come away with a very pro-Volt opinion, compared to those who have never driven it. This program (if it exists) would not be aimed at casual joyriders, but those who are interested but have a bit of hesitancy/distrust/wariness about the new tech. Something that could be overcome with a guarantee like this. I think it would help. It's like an extended test drive, but much more formal and serious given the paperwork, money, etc. involved.
 

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Yeah....and then the person will drive it for 2 months and say....I really don't want it...(free car rental for two months...new car at that)...and then the dealer will turn around and try to charge the person (who really wants to buy a Volt) as close to full price as possible....If this happens and I was in the market to buy a "new" Volt ( I already have one....but thinking of others who are on the verge of pulling the trigger) I would probably want to see my Volt coming off of the delivery truck......
 

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Yeah....and then the person will drive it for 2 months and say....I really don't want it...(free car rental for two months...new car at that)...and then the dealer will turn around and try to charge the person (who really wants to buy a Volt) as close to full price as possible....If this happens and I was in the market to buy a "new" Volt ( I already have one....but thinking of others who are on the verge of pulling the trigger) I would probably want to see my Volt coming off of the delivery truck......
Unlike loaners and extended test drives, these cars are actually the legal property of the buyer (or their bank or leasing company). If the person "returns" the car (GM buys it back), it would have to be treated as a used car. The dealer cannot then sell it as new.

The more interesting piece is the $500 rebate if you waive the 60-day buyback. Are they somehow raising the price $500, or can people now get Volts for $500 less than they could before?

Maybe this is going to start after the $2,500 dealer incentive ends.
 

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Unless someone posts a link, it ain't happening. The OP hasn't responded which dealer told him this ...

There is absolutely no way GM will risk a 7500 dollar loss for potential sale of a Volt, also technically the two week volt owner could then apply for the 7,500 credit, that seems like a sure fire way for people to scam the system for huge gains
 

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Unlike loaners and extended test drives, these cars are actually the legal property of the buyer (or their bank or leasing company). If the person "returns" the car (GM buys it back), it would have to be treated as a used car. The dealer cannot then sell it as new.

The more interesting piece is the $500 rebate if you waive the 60-day buyback. Are they somehow raising the price $500, or can people now get Volts for $500 less than they could before?

Maybe this is going to start after the $2,500 dealer incentive ends.
Oh....I see....didn't know that....I thought it was one of those "extended" test drive situations.....in this case..."REALLY extended"...lol
 

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It would be so much simpler for GM to sell some Volts at a steep discount to Enterprise and other rent-a-car companies for rental outside high use areas like LA and SF.

See a Volt, rent a Volt, buy a Volt.
 

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Unless someone posts a link, it ain't happening. The OP hasn't responded which dealer told him this ...

There is absolutely no way GM will risk a 7500 dollar loss for potential sale of a Volt, also technically the two week volt owner could then apply for the 7,500 credit, that seems like a sure fire way for people to scam the system for huge gains
That is a good point. I didn't get it at first, but if the buyer pays $40K and returns it 60 days later, the used car isn't worth much more than $32.5K (minus depreciation), since another buyer cannot get the tax credit for it.

If they do this again, I'm guessing GM would subtract the $7,500 from the purchase price when doing the refund. From reading the IRS information, it looks like there would be no problem with someone claiming the credit, even if they returned the car after 60 days.
 

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I was thinking....if someone buys it new....and GM has to "buy it back" in 60 or less days if they are not satisfied with it....who eats the immediate 20-25% depreciation that new cars have "when they leave the lot"......and then this begs another question....whats to stop people from buying the car....walking away from it at 2 months (that is if GM eats the depreciation)....and then come back and buy the car at what should be a lower used car price....? I don't know....maybe I am thinking of this wrong....
 

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Discussion Starter #11
Unless someone posts a link, it ain't happening. The OP hasn't responded which dealer told him this ...

There is absolutely no way GM will risk a 7500 dollar loss for potential sale of a Volt, also technically the two week volt owner could then apply for the 7,500 credit, that seems like a sure fire way for people to scam the system for huge gains
This is the email I received:

Hey dknn79,
I hope you are doing well this afternoon. GM has just anounced a program that will be introduced Tuesday morning that would allow you to take another $500 off of the sale price!! They will offer a 60 day buy back guarantee on the Volt, but if you waive the buy back program, they will give you a $500 rebate!! I know this sounds strange but it is true. I do have this vehicle in stock and would be willing to hold it for you if we can get a credit application over the phone.

and the dealer was Day's Chevrolet in Georgia.
 

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If true (and I have no reason to doubt), this is probably a brand promotion and not targeted towards the Volt.

And if you do turn it back in, you don't just walk, there will be mileage charges I'm sure. But it does bring up some interesting questions regarding the $7500 tax credit on the Volt. I think the original buyer (even though they turn the car in) would be eligible for the tax credit.
 

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Guess we will find out, the whole rebate thing makes it basically impossible but hey, I can wait a few days to see to if an email from a dealership isn't just a buy now and save 500 bucks come on ..

I thought you had bought from Stingray?
 

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I was thinking....if someone buys it new....and GM has to "buy it back" in 60 or less days if they are not satisfied with it....who eats the immediate 20-25% depreciation that new cars have "when they leave the lot"......and then this begs another question....whats to stop people from buying the car....walking away from it at 2 months (that is if GM eats the depreciation)....and then come back and buy the car at what should be a lower used car price....? I don't know....maybe I am thinking of this wrong....
GM eats the depreciation (if waiving the option gives you a $500 rebate, they figure the cost ends up being $500 per car, or perhaps 1 in 10-20 people returning the car). However, they may be able to sell to their employees or have other ways of finding buyers (or use them as test cars for various purposes, such as crash testing). The $7,500, though, I believe they would have to take off the price paid for the car.
 

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Discussion Starter #15
Not yet. I was able to get another dealer to match the same deal with Stingray. I'm still on the fence about getting a Volt. I have a perfectly fine car now that's paid off and I really don't need a car, but the inner kid in me wants something new.
 

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I understand that completely, my 2010 fusion was paid off so I traded it in and did a one pay lease to keep the inner kid happy for awhile! The current deals are about 3500 better than when I purchased, hard to believe the prices could get lower, but one never knows. No regrets on getting the Volt
 

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I do kinda like this idea but find it hard to believe. No matter how much you like a car once you really start driving it you start to notice the little things that bother you or that are good surprises. Interesting thing is it looks like GM's current financing offers expire Monday. So if they are going to introduce a new program Tuesday makes sense.
 

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The program is coming and it isn't the first time GM offered it. I used it a few years ago to have GM buy back an Equinox when I ran into problems with the dealership and GMAC.

A quick background, I'd received a two month early lease termination from GMAC if I bought a new GM but the dealership didn't process the paperwork on time. Even though they trucked my former lease two states away GMAC insisted on the last two payments. The dealership refused to help in any way because they thought GMAC would go after them.

I called the program HQ, they faxed me a form, I completed it and faxed it back and turned the Equinox in at the agreed upon time. If memory serves there was a stipulation that I had to hang onto the vehicle for a minimum amount of time.

GM treated me great. The dealership jerked around for awhile trying to recover license, etc fees from me not knowing that GM would reimburse them if they read and processed the forms GM sent them. GMAC eventually went away when I provided all the documentation showing that I'd complied with THEIR program. At least until this year when they tried to recover the payments again this Spring (two years later).

In summary, GM will treat you like a rockstar if you use the program. In my experience they took it on the chin because of the actions of GMAC and a dealership.

I'm looking at GM's again (Volt) but its a huge deterrent that the lease program is through Ally. I've never had an issue with Bank One, Ford, Toyota or Honda leasing.
 

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I'll believe it when I can read the terms on the GM website. Your Equinox didn't have a 7500 tax credit to deal with
 
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