GM Not Interested In Buying Back Any Recalled Cars But Will Offer Owners $500 To Buy Another GM Product

General Motors Co.

has told dealers it won’t repurchase any of the 1.37 million vehicles recalled in the U.S. linked to a faulty ignition switch, but will offer owners of those vehicles $500 off the purchase or lease of a new GM vehicle.

The Detroit automaker will offer owners the rebate off a new car — and will pay for loaner or rental cars and to tow cars to the dealership if owners feel worried about their safety.

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