If GM goes Bankrupt will you still buy a Camaro? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Design1stCode2nd · 10-10-2008, 10:42 AM

I've been seeing a lot more of these kinds of stories. Doesn't mean it will happen but GM and the US economy is in a bad way as we all know. So if GM goes tits up in the next 12 months and you haven't bought a Camaro would you still?

http://jalopnik.com/5061552/gm-will-...or-the-general

XtremeBowtie · 10-10-2008, 10:45 AM

Yes.

Beau Tie · 10-10-2008, 10:46 AM

If GM CLOSED it's doors and still had Camaro's on the lot, I would still buy one.

headpunter · 10-10-2008, 10:46 AM

if they went bankrupt why wouldnt i buy a camaro? Declaring banruptcy is not the same as goung out of business.

rolnslo · 10-10-2008, 10:49 AM

Gut reaction - absolutely, I'd still buy one.

Sanity check - who's going to service it, make parts for it, and warranty it?

I'm not going to think about this any more. GM will be fine.

jojohn33 · 10-10-2008, 10:56 AM

no a brand new car anything can go wrong and its hard to say if that happen what if anything would be done about recalls and warranty.

Beau Tie · 10-10-2008, 10:57 AM

What happened to the $25 billion dollars they (big 3) are getting from government?

BigRigMike · 10-10-2008, 11:00 AM

Quote:

Originally Posted by Beau Tie

What happened to the $25 billion dollars they (big 3) are getting from government?

Well it is government. I think i read somewhere that it could take anywhere from 3-18 months for them to get the money. I dont think those are the exact numbers but the range was very large on when they could get the money.

pinkcamaro10 · 10-10-2008, 11:03 AM

i would have to say yes

Eisenhower · 10-10-2008, 11:11 AM

Sure. and if they were force to close doors but managed to squeeze out a few camaros; betcha they'd be worth a fortune...

$100,000 5th gen on ebay.

Design1stCode2nd · 10-10-2008, 11:16 AM

Reports claim GM needs 11bil to remain in business for day-to-day operations. Factor in a 20bil reserve and a 1bil/month burn which will increase as the credit crunch worsens and you have GM being forced to file in 9 months give or take.

If this were to occur I’d have to wait and see how things shake out. Keep in mind warranties would be worth nothing unless GM had them underwritten by someone else. Not to mention resale value on any GM vehicle would plummet. If they looked to beon track to make a come back they would need to severely discount inventory to lure buyers as well as have warranty protection by a major brand insurer/underwriter in place.

The 25bil bailout gets split up a lot so maybe 3-5 bil for GM which isn’t supposed to get to them until 2010 I think. By then it may be too late.

I’m not buying until summer 2010 or spring 2011 anyway so all will hopefully be clear by then.

bigralph · 10-10-2008, 12:10 PM

Si!

Captain Awesome · 10-10-2008, 12:16 PM

What if you are placing an order and you put down $1000 or something to secure your place in line and they go bankrupt, or your you had an order on the books and your dealer goes belly up?

Do you lose your money?!?!?!

MrIcky · 10-10-2008, 12:18 PM

I might still if GM goes CH11. However, I just looked at my stocks/401k and I'm watching my Camaro dreams diminish.... Let's hope for a shinier 09.

10-10-2008, 10:42 AM	#1
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	If GM goes Bankrupt will you still buy a Camaro? I've been seeing a lot more of these kinds of stories. Doesn't mean it will happen but GM and the US economy is in a bad way as we all know. So if GM goes tits up in the next 12 months and you haven't bought a Camaro would you still? http://jalopnik.com/5061552/gm-will-...or-the-general

10-10-2008, 10:45 AM	#2
XtremeBowtie Drives: 2013 2SS/RS 1LE Camaro / 1963 C-10 Join Date: Mar 2007 Location: NC Posts: 149	Yes. __________________ Thank you God for my Salvation! May others seek your Son, Jesus Christ! My 63 Double Dropmember Build "Project Sub-Zero": http://67-72chevytrucks.com/vboard/s...42#post5050342 My 2013 Camaro 1LE: https://www.youtube.com/channel/UCxa...wL5d6RnmfdJa1A 86 C10 Daily Driver "Build Thread": http://67-72chevytrucks.com/vboard/s...d.php?t=668777

10-10-2008, 10:46 AM	#3
Beau Tie Drives: 2006 Cobalt, 2007 Camry Join Date: Oct 2008 Location: Wisconsin Posts: 145 View My Garage	If GM CLOSED it's doors and still had Camaro's on the lot, I would still buy one. __________________

10-10-2008, 10:46 AM	#4
headpunter Not That sad..considering Drives: Man Join Date: Aug 2007 Location: the part of washington the capital forgot about. Posts: 3,747 View My Garage	if they went bankrupt why wouldnt i buy a camaro? Declaring banruptcy is not the same as goung out of business. __________________ Stop Whinging

10-10-2008, 10:57 AM	#7
Beau Tie Drives: 2006 Cobalt, 2007 Camry Join Date: Oct 2008 Location: Wisconsin Posts: 145 View My Garage	What happened to the $25 billion dollars they (big 3) are getting from government? __________________

10-10-2008, 10:49 AM	#5
rolnslo Rolling along... Drives: 2011 2SS/RS SGM Join Date: Mar 2008 Location: Houston, TX Posts: 4,380 View My Garage	Gut reaction - absolutely, I'd still buy one. Sanity check - who's going to service it, make parts for it, and warranty it? I'm not going to think about this any more. GM will be fine.

10-10-2008, 10:56 AM	#6
jojohn33 Drives: tt Join Date: Aug 2008 Location: wv Posts: 48	no a brand new car anything can go wrong and its hard to say if that happen what if anything would be done about recalls and warranty.

10-10-2008, 11:03 AM	#9
pinkcamaro10 2G1FC1EV1A9110079 Drives: 2010 2LT/RS, 2013 2SS/RS 1LE Join Date: Jun 2008 Location: Arizona Posts: 4,756 View My Garage	i would have to say yes __________________

10-10-2008, 11:11 AM	#10
Eisenhower I drank what? Drives: DANGEROUSLY Join Date: May 2007 Location: check your back seat... Posts: 416	Sure. and if they were force to close doors but managed to squeeze out a few camaros; betcha they'd be worth a fortune... $100,000 5th gen on ebay. __________________ SUP DOG!!! knowwhati'msayin?

10-10-2008, 11:16 AM	#11
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	Reports claim GM needs 11bil to remain in business for day-to-day operations. Factor in a 20bil reserve and a 1bil/month burn which will increase as the credit crunch worsens and you have GM being forced to file in 9 months give or take. If this were to occur I’d have to wait and see how things shake out. Keep in mind warranties would be worth nothing unless GM had them underwritten by someone else. Not to mention resale value on any GM vehicle would plummet. If they looked to beon track to make a come back they would need to severely discount inventory to lure buyers as well as have warranty protection by a major brand insurer/underwriter in place. The 25bil bailout gets split up a lot so maybe 3-5 bil for GM which isn’t supposed to get to them until 2010 I think. By then it may be too late. I’m not buying until summer 2010 or spring 2011 anyway so all will hopefully be clear by then.

10-10-2008, 12:10 PM	#12
bigralph Drives: 2001 v6 Camaro Join Date: Dec 2007 Location: Northborough, MA Posts: 268	Si!

10-10-2008, 12:16 PM	#13
Captain Awesome Account Suspended Drives: 2010 Camaro 2SS/RS Join Date: Apr 2008 Location: New York Posts: 3,746	What if you are placing an order and you put down $1000 or something to secure your place in line and they go bankrupt, or your you had an order on the books and your dealer goes belly up? Do you lose your money?!?!?!

10-10-2008, 12:18 PM	#14
MrIcky Drives: Dodge Ram Megacab & Cobalt SS Join Date: Sep 2008 Location: Boise Posts: 1,536	I might still if GM goes CH11. However, I just looked at my stocks/401k and I'm watching my Camaro dreams diminish.... Let's hope for a shinier 09.

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