So what's the general feeling out there about buying GM now??

[Turbo38V6]

My lease is up next year on my Infiniti and I'm in shopping/preparing mode now. So I'm thinking some sort of nice used car (like an E class or BMW -- those can be picked up for relatively cheap) or if the price is right, maybe a newer Escalade or Denali. I know, two extremes there but my dilemna is that I really like the SUV option especially in Chicago and I like GM trucks. However, I just know how what to do with GM about to go bankrupt and what not. I mean, buying a car from a nearly bankrupt company even though it might be a steal??

So I'm throwing this out there to hear what the general feeling is on this. Thoughts??

 

[Sydwyndr]

One things for sure, they would still be called GM

GM = Government Motors :frown:

 

[toofastforyou]

I just know how what to do with GM about to go bankrupt and what not. I mean, buying a car from a nearly bankrupt company even though it might be a steal??

Exactly...I would play it safe and buy an Explorer.

Claude. :smile:

 

[INEEDAGN]

The warranty will still be backed if you buy one almost new, an older one that's out of warranty is not affected by it at all IMO. It has already been built, the parts will always be available, and there will always be someone to work on a GM pickup. Why are you scared? GM, Chrysler, and Ford will still be here after this whole recession blows over, they're just reducing their bottom line so they can be profitable in a crappy economy.

The only concern I would have where I live is that GM plans to cut every single GM dealer within a 60 mile radius of my town. We called around, every dealer of every GM franchise within an hour's drive has been cut. If a local farmer's check engine light comes on he will have to drive it an hour or more away to have any warranty work done to it. Gee I wonder if that will cost them any market share around here..........

To practice what I preach, I will openly admit that as long as chrysler doesn't cut the dealer I work for, I have no plans to buy anything that is not a mopar in the near future. And they are already bankrupt.
bob

 

[Turbo38V6]

One things for sure, they would still be called GM

GM = Government Motors :frown:

That's my other thing as well. Do I want to support a company that's sucking taxpayers dry on keeping alive a failed business model.

 

[tom j]

Is anybody still buying there stock here? I think it's around a $1.50

 

[JOHNDEEREGN]

The warranty will still be backed if you buy one almost new, an older one that's out of warranty is not affected by it at all IMO. It has already been built, the parts will always be available, and there will always be someone to work on a GM pickup. Why are you scared? GM, Chrysler, and Ford will still be here after this whole recession blows over, they're just reducing their bottom line so they can be profitable in a crappy economy.

The only concern I would have where I live is that GM plans to cut every single GM dealer within a 60 mile radius of my town. We called around, every dealer of every GM franchise within an hour's drive has been cut. If a local farmer's check engine light comes on he will have to drive it an hour or more away to have any warranty work done to it. Gee I wonder if that will cost them any market share around here..........

To practice what I preach, I will openly admit that as long as chrysler doesn't cut the dealer I work for, I have no plans to buy anything that is not a mopar in the near future. And they are already bankrupt.
bob

Thats the main reason I drive Mopar... Only dealer within a minimum of 60 miles. I cannot believe Mattesons made the cut and Gary Hardy didnt.

 

[phillyturbosix]

Is anybody still buying there stock here? I think it's around a $1.50

I've been watching it for sometime now. It dipped down to almost a buck a share the other week. I was about to throw away some money on it just to see what happens then I read all the top brass at GM were unloading stock like crazy. hmmm little inside info maybe? Anyway after reading that I'll just sit back and watch for now. If you have a few grand burning a hole in your pocket that you wont mind losing take the plunge and see where it goes.

 

[VADER]

I thought the govt was buying all of the healthy assets, then reselling everything to the unions.

 

[d0n_3d]

I'm actually wanting to buy a new Pontiac G8 GT by the end of the year. I wonder what kind of deals will be out there since Pontiac is being cut? Will GM still honor Pontiac warranties and such?

 

[Pronto]

The G8 is on my list too. A guy showed up to the cruise last night with a brand new Camaro SS. Came right to the show from the dealer. He had it on order for something like 7 monthes. I liked it. The engine compartment is just begging for a s/c or turbo. It's almost like it was designed for one.

 

[88ZNX]

As much as we work on new GM products, and as much as I love GM, I just wouldnt buy a new car. The quality just isnt there. We cant help but to break the cheap interior parts dissasembling them to repair hail dents. They just about fall apart in your hands. The metal is so thin, you can put "elbow dents" in a car just by leaning on it. The trucks, however, are still very nice to work with. Good metal and interior makes it rather nice. Hate to say it about ol Chevy but its true.

 

[The Blob]

I went this afternoon to check out the 2010 Camaro.

Not only did they not have one to look at, the salesman said even if I ordered one he would have no idea when it might come in because they were trickling them out so slowly. He suggested I check back... in August!

We then had a discussion about how dopey it is for a company in trouble to not make enough of one of its few desirable products...

 

[klrv6]

Is anybody still buying there stock here? I think it's around a $1.50

I sold all mine and made a few dollars. I want back in it but, I feel it would be best to wait and see if they dilute it like they have been talking about, your $1 stock would be worth $.01. On top of that, I'm waiting to see if they file bankruptcy with less than three week worth or cash to run on, it won't take long to see. I'll get back in it after that.

 

[TurboRegal84]

I think it is a good time to buy GM if you plan to buy a car and use it with no worries/thoughts of residual value. Cars can be had $10,000-$15,000 below MSRP. Now is a good time to be a buyer.

 

[ronbuick]

Quality is no good, what have you been smokin 88Z, GM makes some of the best vehicles out there, but go and buy a BMW or MB Audi, then take it in for a
service and see what that costs you, have you not ever noticed or thought why there are a ton of them for sale, why is that???

Ron

 

[TT/Ameasap]

GM, Chrysler, and Ford will still be here after this whole recession blows over, they're just reducing their bottom line so they can be profitable in a crappy economy.


bob

Are you serious?

 

[INEEDAGN]

Are you serious?

Well I did oversimplfy it but that is the basic reasoning behind most chapter 11 bankruptcies. As far as what they think they will gain by cutting dealers, that is totally beyond me or anyone i've talked to. It's going to cost them a lot of market share out here in the sticks, and believe it or not, us hillbillies do buy new vehicles from time to time. If Ford gets to keep a small dealer in every small town they are going to gain a LOT of business in rural areas. Not that they are doing much better right now, but as of right now the government can't run them in the ground like they will do to the other two.