Want to buy a Chevy but what if GM declares bankruptcy?

K

Kris K

New member
Ok so my buddy wants to buy a the brand new camaro that is coming out in 2010... alright actually I want to buy it. But with the pickle that GM is in I am hesitant to act on it. They lose somewhere between one to eight thousand dollars per car they produce so theyre are obviously not going to get out of the whole by selling. Some of their subsidy brands like Saab have declared bankruptcy but they can't because of union resistance.

Well, let's say hypothetically I do buy the car and chevy keeps going at the rate they are without declaring bankruptcy. How will this effect me and my purchase assuming I am financing the vehicle over say 5 years?

If they do declare bankruptcy and refinance and renegotiate with unions how will it effect my purchase given that I am financing?

And if your going to just say "stay away from GM!" its not helping becuase I have heard that 1000 times already I need answers for the given scenario.

Answers are appreciated.
 
The only way that GM's possible bankruptcy will affect you is with your warranty. If you're so worried about it, you can ask GM to pay for your warranty on an outside vendor (i.e. mechanic) so that even if GM does go bankrupt, you can still get your crappy Camaro fixed for free when it eventually breaks down.
 
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