Bankruptcy and warranties

[armando416]

So what does everyone think the effect of a GM bankruptcy would be on warranties? To be honest, if the dealer called me today and said my Camaro was ready for delivery, I am not sure I would take it! I mean, if I am paying top dollar for this car, I would want everything to be settled first one way or the other. They say they are worried about filing bk because people would stop buying their cars. I say its pretty obvious people have ALREADY stopped buying their cars...just file bk already and set something up where the government will guarantee the warranties. I think you will actually see MORE buyers after they do that, instead of now with all the uncertainty. If I go out and buy a GM car today, is my warranty going to be worthless in 6 months? Right now I don't feel too sure...and I am certainly not spending all this money without being sure.

[GLBL WMR]

Warranties would be honored in Chapter 11... Chapter 7, not so much. The question is, if they file Chapter 11, would the government led them slide into Chapter 7?

I place my bets on "no". Not with this administration. Corporate socialism isn't going out of style anytime soon.

[CamaroScotty]

Right now, I'd be a little more worried about how many dealerships are in rough shape in your area, than a warranty.

[GrnMchin]

Originally Posted by CamaroScotty

Right now, I'd be a little more worried about how many dealerships are in rough shape in your area, than a warranty.

Amen to that

[trm0002]

The sky is falling, the sky is falling, la la la la la...

The LAST thing they will do is not honor warranty issues even if they go Ch11. Once they do that, they may as well close. In other words, go have a beer and chill out. GM will honor it's warranties until it is dead; because if it doesn't, it will be.

[CamaroHutch]

Originally Posted by trm0002

The sky is falling, the sky is falling, la la la la la...

The LAST thing they will do is not honor warranty issues even if they go Ch11. Once they do that, they may as well close. In other words, go have a beer and chill out. GM will honor it's warranties until it is dead; because if it doesn't, it will be.

[domano 68]

Originally Posted by armando416

So what does everyone think the effect of a GM bankruptcy would be on warranties? To be honest, if the dealer called me today and said my Camaro was ready for delivery, I am not sure I would take it! I mean, if I am paying top dollar for this car, I would want everything to be settled first one way or the other. They say they are worried about filing bk because people would stop buying their cars. I say its pretty obvious people have ALREADY stopped buying their cars...just file bk already and set something up where the government will guarantee the warranties. I think you will actually see MORE buyers after they do that, instead of now with all the uncertainty. If I go out and buy a GM car today, is my warranty going to be worthless in 6 months? Right now I don't feel too sure...and I am certainly not spending all this money without being sure.

Your concerns are warranted. There may be a LOT of people that back out on thier orders. When mine comes in, I may re-negotiate the price down to employee pricing range, or back out altogether.

[rmyers]

There are a few in front of me....I hope they back out!. If GM goes down and warranties are not honored...I'd be upset but then I won't have any concerns about modding voiding the warranty Mod ON!

[Supermans]

Originally Posted by domano 68

Your concerns are warranted. There may be a LOT of people that back out on thier orders. When mine comes in, I may re-negotiate the price down to employee pricing range, or back out altogether.

The Camaro is going to be a hot item in demand. Even if they go bankrupt, the demand for the car willbe the same if not more so since people will just start seeing them on the road and Transformers 2 is out. The value of the car for a short time will be higher than what we paid at MSRP in the eyes of the public and dealers will be marking up the prices even more for a few months when it hits the roads. I do believe any dealer would be happy if you canceled out on your order since they could probably make more money on the car at that point. Remember that you ordered at a time before even the dealers were supposed to have ordered for themselves. If it is employee pricing you want, wait six months to a year after the Maro comes out once sales have slowed a little, depending how quickly and how bad a financial shape your dealer is in. I would heed the words of Camaro Scotty in that your order is at risk if your dealer goes under.. So worry more about your dealer than anything else..

[PQ]

Circuit City in my area is OOB. But the lamp on my 65" DLP just went out and so I called. The servicing company is still servicing. They'll be out Tuesday to replace the lamp. The only thing is they can be all the a-holes they want to be. They get paid through some type of escrow or something like that. When the contract is up ie. all of the current extended warranties, they are done serivicing. So they can give crapy service because we can't go anywhere else under our warranties and CC is not there anymore to monitor the service.

It may just cost more to get parts and service but it's not like you'll have a car that you can't drive.

[Supermans]

Originally Posted by rmyers

There are a few in front of me....I hope they back out!. If GM goes down and warranties are not honored...I'd be upset but then I won't have any concerns about modding voiding the warranty Mod ON!

Part of our up-front costs already on the Camaro are going to pay for Legacy and Warranty costs above the price the car is to build.. If they are not going to honor the warranty, they might as well drop $2,000 from the cost. Same goes with the extra $3,000 we pay for legacy costs up front as well.. Technically what GM should do is have people opt out of being included in the warranty when they purchase at the price difference from the get go..And if they file Chapter 11 GM can even make the cars more affordable by removing legacy costs..If GM makes teh Camaro 1SS starting price MSRP in the $25,000 range, and the V6 in the $17,000 if would take over vs Ford Mustang as the sales leader.. Being more expensive than Ford (and other factors like not as many options) is what is keeping Camaro ultimately behind.. Ford has a better strategy..

[Supermans]

Originally Posted by irpq11

Circuit City in my area is OOB. But the lamp on my 65" DLP just went out and so I called. The servicing company is still servicing. They'll be out Tuesday to replace the lamp. The only thing is they can be all the a-holes they want to be. They get paid through some type of escrow or something like that. When the contract is up ie. all of the current extended warranties, they are done serivicing. So they can give crapy service because we can't go anywhere else under our warranties and CC is not there anymore to monitor the service.

It may just cost more to get parts and service but it's not like you'll have a car that you can't drive.

My lamp in my Samsung DLP died one month after the warranty expired..lol.. Those lamps are expensive..And hopefully Phillips doesn't go under since they are the only brand that makes the stock one that fits.. AS long as parts companies are still making parts, you have little to worry about, but we all know how expensive repairs can be for even the littlest thing.. Hopefully I can buy another Camaro when the warranty comes to an end..

[mglumske]

I have the same exact concerns about the warranty after the fact of buying. so much so I went to a local Ford dealer last Friday and got a price on a 2008 Mustang Shelby GT. It is $2000 less than our 2SS on order and Ford isn't looking for more bail out bucks.
I love seeing the Camaro, like today's pace car, but I'm having a little trouble keeping covinced that staying with GM is the right thing to do.

[Supermans]

Originally Posted by mglumske

I have the same exact concerns about the warranty after the fact of buying. so much so I went to a local Ford dealer last Friday and got a price on a 2008 Mustang Shelby GT. It is $2000 less than our 2SS on order and Ford isn't looking for more bail out bucks.
I love seeing the Camaro, like today's pace car, but I'm having a little trouble keeping covinced that staying with GM is the right thing to do.

Don't worry about the warranty, they will be honored even if the company files for Chapter 11..