Not looking to be pessimistic, BUT... GM Bankruptcy thoughts?

[JDBeck23]

Originally Posted by KJS

Fourth - Your side note - we've given some pretty hard hits to dealerships, but what you're doing is...unethical. They told you "Non-refundable", so you're going to lie and say you never signed anything? Thats not going to work and is pretty sh***y on your part. Yea, the dealership will probably be able to sell it when it comes in, but still...you're doing the wrong thing here pal.

Easy tiger. Im not talking about pulling out at the last minute. I dont even think they sent my order in to GM at all yet. Let alone has it been accepted, let alone does the dealership have available allocations at the moment. If I pulled out now or even a couple weeks from now, there would be absolutely no harm done. That's what I was debating...

But im gonna stick with my order if that makes you feel any better!

[GMtothecore]

long live GM

[paulv7260]

Originally Posted by JDBeck23

Hey guys, I've been lurking here for the passed couple weeks. Just submitted an order with Country Chevrolet for a 2SS/RS CGM and am learning now that it seems damn near certain that GM will file bankruptcy this summer.

What do you guys think? Should I withdraw my order and wait? Or leave my order and hope for the best?

Side note: the dealership I ordered from was an "at MSRP" dealer, but they wanted a 2500 dollar non refundable deposit. I went with this because I figured if I really wanted out of the order, I could get out of it, even though they say it's "non refundable". I ordered over the phone with a credit card for down payment, if push comes to shove I can tell them I never signed anything about non refundable, and I can just call my CC company and have them return payment. So what im wondering is, should I withdraw my order (only placed a few days ago) and maybe I can order a camaro in June under MSRP when the suspected bankruptcy comes out?

Several of us on Camaro5 have ordered from Country Chevrolet. IMO they're a good dealership with good customer service. If you want the Camaro then I would stick with them and your order.

I have no reason to suspect that the GM bankruptcy will affect them in terms of restructuring ala dealership closings. However, IF they were to go under for reasons not related to GM's bankruptcy then your deposit via a credit card could be disputabe.

In Virginia it is law that your deposit must be refunded. If you did not sign a contract with that stipulation you have nothing to worry about.

[JDBeck23]

Thanks Paul, I wasnt aware of that Va state law, thanks for the insight!

Yeah, that's why I put the deposit on the credit card, if I ended up having problems, then it'd be nice to have the CC company backing me up.

I doubt I will have any issues with them, from my conversations with the sales person and the manager they seemed genuinely engaged in getting me what I wanted and keeping me informed and up to date.

Thanks again Paul!

[pmb1010]

"and I can just call my CC company and have them return payment"

you might want to call your CC and verify that they will do that during a dispute.
Typically in a dispute they will tell you to go to the vendor (car dealer) and work with them have them initiate the return of the transaction dollars.

In a case of fraud they take the charge off your card and many times the CC company absorbs those losses - but in cases like this you've entered into a transaction with the dealer. The deal you made was "non refundable deposit".
The credit card might not be willing to just pull the dollars back from the dealer because the transaction was legit and correct.

[2SSJIM]

Don't do anything but wait it out! If anything the price of the Camaro will increase.

[hdslew43]

Oshawa is scheduled to work one week during shutdown. Last week of June was just added along with some saturdays. I am more concerned about Oshawa being shut down during a bankruptcy. All Chrysler assembly plants were shut down down the day they filed. The suppliers were worried they would not be paid, thus quit shipping to assembly plants. I am a 25 yr GM employee. On order 2SS, IOM, Black Int. 6 sp. manual.

[nards444]

the oshwa plant seems to be the only ones making those. And saw on the news they are working sat and sundays and the two week shut down is either down to one week or down to nothing, cant remember. I wouldnt worry about GM they arent going anywhere, even if they go bankrupt they will see be in business and making cars. I think asking more for the cars would be a bad mistake due the economy. I think they got them priced right. I think if they were based at 40-45k you would see a lot less of a demand.

[2010SSRS]

if you have an order in........stick with it! if GM files bankruptcy, chances are they will cease all operations until it's final (much like Chrysler right now), and that could delay Camaro production for a couple months, which will make the going rate for Camaros much more than it is now.

will GM be ok in the end? ABSOLUTELY! no worries. will the Camaro survive bankruptcy? ABSOLUTELY!

but here's my point, on the day GM announces bankruptcy, you can bet ur ass that a Camaro for sale at $2k over MSRP will be a deal! so if you're locked into an MSRP deal.........keep it.

scammers are goona pay $2k - $5k over MSRP and try to flip em' for $10k over..............u watch!

[nards444]

bankrupty for GM is going to more of formality then actually something physicaly happening at the plants. The plants probably wont stop for a huge amount of time. bankruptcy is just going to allow GM to drop debt and screw all of their past employees retirements. So I dont see the plants slowing down, the camaro plant is in canada at oshawa, so I dont if being in GM canada DIV if that matters. But like i said I think dealers would be insane to ask over MSRP. Some will pay it, but the way the economy is i dont that going over well with public specially in places like MI and other badly hurt areas of the country.

[Stevo]

they wanted a 2500 dollar non refundable deposit.

Now why would the dealer ask for that with a car so hot?

[nards444]

yeah you know i dont understand that either. If somebody doesnt want the car or is a no show, im sure they wouldnt have a hard time finding somebody else. Only thing i think of is their allocation and maybe make sure peoples money is where there mouth is. My dad is a salesman, and it cost a dealer about a 1000 dollars to just get the car delivered, which they pass on to you at closing but, if they dont get a sale they did all that work and get screwed. I can see 500 bucks but anything over that just seems crazy

[NYG71]

Originally Posted by Mason44

just going to wait and see what happens

[JDBeck23]

Originally Posted by Stevo

they wanted a 2500 dollar non refundable deposit.

Now why would the dealer ask for that with a car so hot?

You got me... I think it's because they wanted to keep buyers from ordering from several dealers. I asked, and I forget the sales pitch that they gave me, but the basic gyst was that they treat their customers right, with constant updates and etc, etc so the 2500 down payment was to keep the riff raff out. Why it's "non refundable" I dont know. I went that direction because they're the closest dealer to me that's selling at MSRP.