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.
Sylvain Belanger is a freelance writer who writes about using a suitable car, often discussing a specific aspect of
used Acura car .
