If you find a good used GM car go for it
Today most people seem to assume that GM is dead. However the truth is
that GM is far from being a dead company. All the sensible people and
the federal government support this point of view. GM has filed for
chapter 11 bankruptcy and this type of bankruptcy law has very clear cut
rules about business ownership and further business redevelopment. So
even after bankruptcy, the federal government is guaranteeing all
warranties. This bankruptcy is more like a restructuring, rather than
complete closing down of all activities and facilities. Unlike the
common perception, not all the GM dealerships are closing down. It is
not that GM will close down the dealerships randomly, there is a process
that will be followed for closing dealerships. GM will cover a certain
area with some dealerships to cater the maintenance and servicing needs
of vehicles. GM will continue to provide service, parts and components
while bankruptcy process is still going on. The bankruptcy process is
very open, so you know which model is going to continue and which will
discontinue,
Despite bankruptcy some market studies indicates that consumer interest
in certified used GM cars has not dropped much. It is almost at the same
level of pre bankruptcy days. You should look at this as an opportunity
to save money and saving money is always a good idea. GM itself wants
to promote its certified used car business.
Additional advantage of buying a used car is that prices of SUV
(supports utility vehicle) and trucks are heading south, thanks to high
fuel prices. Owners are selling them so you can bargain hard and get
some major discounts.
You don’t have to worry about resale value of your GM used car because
in few years time GM will emerge from this crisis as a much stronger
company, financially as well as technologically. So don’t worry, if you
like any used GM car or suv, don’t think about bankruptcy and just go
for the vehicle of your dream.
