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Old March 11th, 2009, 11:38 AM   #1
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Default Would you buy a new GM? (re: bankruptcy and warranty)

What happens to a warranty if I buy a new truck and GM goes into bankruptcy? It would kinda kill the attractiveness of buying new if the warranty goes bye-bye.

I was planning on buying used, but the deals on used trucks with low miles are not as good as I thought they would be, so buying new is looking better.

Last edited by mtnbikinbryno; March 11th, 2009 at 12:36 PM.
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Old March 11th, 2009, 11:41 AM   #2
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I wouldn't hesitate to buy a new GM. I would like a Malibu, a G8, or a Sky.
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Old March 11th, 2009, 11:43 AM   #3
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I love my 08 Sierra, and would not hesitate to buy a new one.
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Old March 11th, 2009, 11:46 AM   #4
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Quote:
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I love my 08 Sierra, and would not hesitate to buy a new one.
I like them a lot too, my concern is the warranty.
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Old March 11th, 2009, 11:48 AM   #5
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why does everyone think they will walk away from all warranties? I'm not calling the shots but I'd bet 1000:1 that if you have a problem with a new car there will not be an issue getting it taken care of under warranty.

if you can get the financing and are pretty secure in your job I see no reason not to get a new one.
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Old March 11th, 2009, 11:50 AM   #6
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I wouldn't hesitate at all...

I can't imagine GM would void warranties... that would kill confidence in the company and destroy future sales. Go for it!
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Old March 11th, 2009, 11:53 AM   #7
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I might be wrong on this but isn't the 3/36 warranty Big Brother mandated?
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Old March 11th, 2009, 11:58 AM   #8
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if GM folds so does their warranties...if they just go threw bankrupcy then their warranties would still be good....and no I wouldn't buy one, because I don't think they'll be around for another year...GM is done
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Old March 11th, 2009, 12:09 PM   #9
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I'd go for a GMC Sierra for a truck for anything potentially useful in anything more off road than a dirt road. (Z71s are a joke... I like that Ford Raptor truck, but I'm not a Ford guy so it's wierd)

They don't have anything else I really care for... no k5 type vehicle with a v6 or v8 and simple honest tcase, not even a s10 blazer type vehicle anymore that's not front wheel drive with a playskool transfer case. I think they don't care about us four wheel drive guys. But maybe it's Big Brother, and EPA standards and wanting to increase gas tax and of course gas isn't cheap, so the market for an enthusiast vehicle other than a cycle or gokart is pretty much screwed. I'll blame the government and gas prices for a large part of their dissapointing lineup.

As for cars, I dunno... generic transportation a Impala v6, sleeper would be Impala SS (still wrong wheel drive), but my choices would be a G8 (rear drive :) ) or a sky turbo. Don't get me going about the mallet skys. *drool*

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Old March 11th, 2009, 12:24 PM   #10
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A lot of people didn't read his original post.

GM will go through bankruptcy first, in which they still have to by law, take care of warranties.
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Old March 11th, 2009, 12:24 PM   #11
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there are a couple of their automobiles that look attractive.

unfortunately we are not in the market for an automobile per se'. we would prefer a 3 row small cross over, or even better a mini-van.

sadly, GM does not make such a vehicle. the smallest 3 row cross over they make that I am aware of is the GMC Acadia or it's cross-platform Chevy/Buick/Saturn twins which are all large enough that we may as well step up to a body on frame full sized SUV - and none of which will fit inside our garage regardless.

they finally, 20 years too late realized that they were making 7th rate minivans and bowed out of that market...
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Old March 11th, 2009, 12:27 PM   #12
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Quote:
Originally Posted by GreaseMonkey View Post
A lot of people didn't read his original post.

GM will go through bankruptcy first, in which they still have to by law, take care of warranties.
It is my understanding that if/when they go through the bankruptcy reorganization process, any and all liabilities from warranties to union contracts, to debts to creditors/vendors are on the table for the judge and/or the receivership to discuss waiving or restructuring.

Obviously certain liabilities they may ask to retain - mass negating warranties would be a further death blow to their sales...
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Old March 11th, 2009, 12:28 PM   #13
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Quote:
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It is my understanding that if/when they go through the bankruptcy reorganization process, any and all liabilities from warranties to union contracts, to debts to creditors/vendors are on the table for the judge and/or the receivership to discuss waiving or restructuring.
I'm pretty sure, not 100% positive, it would apply to extended service contracts, but not factory warranties. It would ultimately depend on what type of bankruptcy they go through.

I don't know much about bankruptcy law, but under some of them they could completely free themselves of warranty, but if they did it would be such a bad business decision if they did survive, no one would ever buy a product from them again.
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Old March 11th, 2009, 12:35 PM   #14
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Quote:
Originally Posted by GreaseMonkey View Post
A lot of people didn't read his original post.

GM will go through bankruptcy first, in which they still have to by law, take care of warranties.
Ha, I know, I edited it.

Thanks for the replies everyone, good discussion on something I know nothing about.
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Old March 11th, 2009, 01:23 PM   #15
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I wouldn't buy a new car period, good economy or no.

A year or two old car I would buy with no issue.
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Old March 11th, 2009, 01:32 PM   #16
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Quote:
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I wouldn't buy a new car period, good economy or no.

A year or two old car I would buy with no issue.
That's what I'll be doing from now on. I took such a huge hit on depreciation for my car it's not even funny....40% in one year.

Hell, the Jeep I brought new in 2002 didn't even depreciate that bad. It's obvious it will depreciate, but it's ridiculous now.

Supposedly the best time to purchase a car is when it is 1-2 years old with less than 20,000 miles. The best time to sell the same vehicle is when it is about 6 years old with 80,000 or less miles. Typically that is when vehicles will see the least amount of depreciation and hold their value the best.
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Old March 11th, 2009, 01:42 PM   #17
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If GM goes into bankrupcy and is bought by a firm with the intentions of liquidating all assets, I would be amazed if warranties would still be upheld. There would be no GM corporation to pay dealers for their labor and free parts.
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Old March 11th, 2009, 01:45 PM   #18
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Quote:
Originally Posted by Monkeyevil View Post
I wouldn't buy a new car period, good economy or no.

A year or two old car I would buy with no issue.
x2

my dad bought a gmc and he has a hell of a time finding a dealer to do warranty work, i guess they are closing down. that truck is a piece of shit anyways.
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Old March 11th, 2009, 02:28 PM   #19
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Quote:
Originally Posted by steveo View Post
x2

my dad bought a gmc and he has a hell of a time finding a dealer to do warranty work, i guess they are closing down. that truck is a piece of shit anyways.
Really?

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Old March 11th, 2009, 02:39 PM   #20
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wow. my dad owns 3 newer GM's and never has an issue getting any warranty work taken care of, at all.

i agree with the fact that they depreciate to quick, BUT, look at the vehicle your thinking of buying, and do a kbb on last years model, see what it books, for, depending on the deal, i may buy new, but it would have to be one hell of a deal.
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