Bankruptcy

jhm · April 21, 2009

http://www.usatoday.com/money/autos/2009-0...ankruptcy_N.htm

NOT GOOD!

cerbomark · April 21, 2009

My question is that if the warrenty would not be honored would this mean the contract I had with GM that a warrenty is provided mean a break in a contract. If so, would I still have to make GM lease/loan payments? IMO this could start another housing market thing where people say "here s my lease, come and get it"...

MS3DALE · April 21, 2009

Check this out...http://news.yahoo.com/s/ap/20090421/ap_on_...us_auto_bailout

MS3DALE · April 21, 2009

My question is that if the warranty would not be honored would this mean the contract I had with GM that a warranty is provided mean a break in a contract. If so, would I still have to make GM lease/loan payments? IMO this could start another housing market thing where people say "here s my lease, come and get it"...

Hmm...Good question Mark,But I thought I read something somewhere saying the government was going to back the warranties if they filed for bankruptcy.

66nova · April 21, 2009

My question is that if the warranty would not be honored would this mean the contract I had with GM that a warranty is provided mean a break in a contract. If so, would I still have to make GM lease/loan payments? IMO this could start another housing market thing where people say "here s my lease, come and get it"...

Hmm...Good question Mark,But I thought I read something somewhere saying the government was going to back the warranties if they filed for bankruptcy.

+1

I could have sworn I read that too. This was to keep buyers from being scared to buy an american made car.

sc4808 · April 21, 2009

Yes it is bad, it will get to the point where dealers will refuse to do waranty work.

Hopfully we won't have too many waranty issues as I feel that these are good vehicles, the biggest issue by far is the resale value, which will drop to nothing, you won't be able to give away a GM vehicle, I took the gamble and bought GM, because I like the vehicles but lately I have started second guessing my decision and wondering if I might should have gone for a brand that has a better chance of survival.

cerbomark · April 21, 2009

yes, it was in the last paragraph of the link you posted. (MS3DALE)

pennzoil29 · April 21, 2009

My question is that if the warranty would not be honored would this mean the contract I had with GM that a warranty is provided mean a break in a contract. If so, would I still have to make GM lease/loan payments? IMO this could start another housing market thing where people say "here s my lease, come and get it"...

Hmm...Good question Mark,But I thought I read something somewhere saying the government was going to back the warranties if they filed for bankruptcy.

+1

I could have sworn I read that too. This was to keep buyers from being scared to buy an american made car.

cerbomark · April 21, 2009

So do I go to the White House and see service advisor Obama for my leaking trans.

sc4808 · April 21, 2009

Yes the gov is supposed to back the GM and Chrysler waranty issues but what they have not said is that in traditional gov fashion, they will require lower labor and parts rates will make dealers start turning away waranty work.

66nova · April 21, 2009

Yes it is bad, it will get to the point where dealers will refuse to do waranty work.

Hopfully we won't have too many waranty issues as I feel that these are good vehicles, the biggest issue by far is the resale value, which will drop to nothing, you won't be able to give away a GM vehicle, I took the gamble and bought GM, because I like the vehicles but lately I have started second guessing my decision and wondering if I might should have gone for a brand that has a better chance of survival.

That is the big problem for GM and the dealers right now, IMO. For me I plan on driving my vehicle into the ground, so resale is not a big deal, but I know it is for a lot of people.

Again, I am almost positive I heard Obama make a statement to the fact if one/any of the big 3 go under that the government would back the warranties.

All of this press about GM going under is what is going to drive them under. We need to keep buying American if we want our Big 3 to survive. Quit giving our dollars over seas. As much as I like to bash, Ford and Dodge, all 3 companies make very good cars now that compete with or out perform all the Jap Crap.

Be American Buy American

VMax2007 · April 21, 2009

More BS media speculation......Calm down!

cerbomark · April 21, 2009

Yes the gov is supposed to back the GM and Chrysler waranty issues but what they have not said is that in traditional gov fashion, they will require lower labor and parts rates will make dealers start turning away waranty work.

Sure, the government will #### things up like they do.

cerbomark · April 21, 2009

it s tough enough to get good warrenty work now!

sc4808 · April 21, 2009

Yes it is bad, it will get to the point where dealers will refuse to do waranty work.

Hopfully we won't have too many waranty issues as I feel that these are good vehicles, the biggest issue by far is the resale value, which will drop to nothing, you won't be able to give away a GM vehicle, I took the gamble and bought GM, because I like the vehicles but lately I have started second guessing my decision and wondering if I might should have gone for a brand that has a better chance of survival.

That is the big problem for GM and the dealers right now, IMO. For me I plan on driving my vehicle into the ground, so resale is not a big deal, but I know it is for a lot of people.

Again, I am almost positive I heard Obama make a statement to the fact if one/any of the big 3 go under that the government would back the warranties.

All of this press about GM going under is what is going to drive them under. We need to keep buying American if we want our Big 3 to survive. Quit giving our dollars over seas. As much as I like to bash, Ford and Dodge, all 3 companies make very good cars now that compete with or out perform all the Jap Crap.

Be American Buy American

When I said "another brand that has a better chance of survival" I meant "Ford" not an overseas company, I think Ford has a little better chance of surviving I just did not want to say the F word for fear of ridicule.