Love It Or Return It: Chevy Offers Buy Back Program For New Customers
Chevrolet will let owners return new cars, trucks or crossovers if not satisfied in 60 days
Doubt sets in: Maybe it's not exactly the car you wanted or maybe you hear of someone else getting more car for less money some where else. Buyers' remorse starts with a pitted feeling in your stomach and ends with a raging headache at the end of the month when you make your first payment – one that that you'll be doing for the next four years.
Chevrolet, however, has an answer for buyer's remorse. It is Total Confidence Pricing coupled with Love It or Return It.
Chevrolet announced this morning the launch of its "Love It or Return It" program where a Chevy customer can return their vehicle within 60 days if they are not totally satisfied with it. The car maker will begin airing commercials about the program tonight during the Major League Baseball All-Star Game.
"We are confident in our lineup, especially our new cars, that if people come in and see our vehicles they are going to want to keep them," said Chris Perry, Chevrolet global vice president of marketing.
The one-two of no-haggle pricing and the ability to return the vehicle if a customer is not happy with it is a combination that Perry says will draw more people to Chevrolet dealerships.
Additionally, when Chevrolet held a program like this in 2009, less than 1 percent of buyers brought their vehicle back.
Indeed, Chevrolet has a strong lineup of vehicles ranging from its subcompact Chevy Sonic and midsize Malibu to its popular small crossover Equinox and big Suburban. Much of Chevrolet's lineup has been refreshed or redesigned in recent years, meaning former Chevrolet customers may be surprised at what they see at a dealership.
"The buyback program is an indication of how confident Chevrolet is in its' new product line up," said Jesse Toprak, vice president for market intelligence at TrueCar.com. "It is a smart and cost effective program that 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."
Dealers agree that the program will bring in new customers.
"Chevy Confidence adds another element of convenience to the retail experience that is sure to attract consumers to our showrooms, and we know through first-hand experience that once they get behind the wheel of one of our new products, they are more likely to take one home," said Steve Hurley, co-chair of the Chevrolet Dealer Council in a news release.
Chevrolet is the second most popular brand in the United States behind only Ford and sales this year have climbed 6.3 percent through June, according to Autodata Corp. In July, it will have sold more than 1 million vehicles in America this year.
Around the world, Chevrolet sold 4.8 million vehicles last year, grabbing more than a 6 percent share of the global automotive market.
The program does have some restrictions. It only applies to 2012 and 2013 models. Owners must keep the vehicle for 30 days, but then have up to 60 days to return the vehicle. The car, truck or crossover cannot have more than 4,000 miles on it, and it cannot be damaged. The program does not apply to leased vehicles.
Complete details are available here.
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