Chevy Buy-back Program Allows Buyers Return Their Vehicles

Chevy Buy-Back Program

Chevrolet introduced Tuesday its "Chevy Confidence" buy-back program, which allows customers to get refunds if they return their 2012 or 2013 Chevy vehicles for any reason.

The guarantee lasts for up to 60 days from the date of purchase, and the offer ends September 4.

"We're so confident you'll love your new Chevy, we'll give you up to 60 days to make sure of it with our new Love It or Return it Guarantee," the company posted on its website. "Buy any 2012 or 2013 Chevy, and if you're not happy, you can bring it right back. Needless to say, we're pretty confident you won't want to let it go. That's Chevy Confidence."

Customers will get the same discounted price as Chevy brand owner General Motors (GM) offers to employees of parts supply companies, plus any other discounts such as rebates or low-interest financing. If customers aren’t satisfied with the vehicle, GM will refund the purchase price.

Returned vehicles can’t have more than 4,000 miles on them and they can’t be damaged.

It’s not the first time an automaker has offered a money-back guarantee. GM made a similar offer in September of 2009 to boost sales as it exited bankruptcy protection. Also, when unemployment was sky-high in 2009, Hyundai Motor Corp. let customers return vehicles within the first year of ownership if they lost their jobs.

Industry analyst Jesse Toprak, vice president of market intelligence for the auto information website TrueCar.com, called the Chevrolet buy-back program "smart and cost-effective," and said "it will work towards diminishing the perception gap of the Chevrolet brand, particularly in coastal metropolitan areas where consumers have a stronger preference towards the import brands."