
As GM heads for a likely bankruptcy, it’s a question that millions are wondering if they own or are thinking of purchasing a General Motors brand vehicle: What the heck will happen with my warranty, and will I still be able to get parts for this thing?
The good news is that you’re covered.
As Gerri Willis puts it in her excellent CNN article on the subject: “The takeaway here is don’t panic. And even if GM is in bankruptcy, the company will continue to operate. Cars will still be sold, you will still be able to get parts and service. If you own a GM car, life won’t change too drastically.”
President Barack Obama has already stated that, like Chrysler, if GM joins it in bankruptcy, the U.S. government will back the vehicles’ existing warranties. (See GM’s warranty coverage HERE.)
“There should be no concern whatsoever,” for customers, GM spokesman Tom Wilkinson said late Friday afternoon, after the company announced that it will be holding a press conference Monday with CEO Fritz Henderson.
Wilkinson declined to state if GM would officially declare bankruptcy during the media briefing.
Regarding warranties, he went on to say, “In any sort of bankruptcy filing, and these are fairly well worked out, usually the first thing a court does is (take action) to protect customers and employees. They want to save as much of the business as possible.”
If you own a Saab, Saturn or Hummer, however, you may be in a different boat. GM is trying to sell those three brands, and whoever buys them will probably take over their warranties and may or may not make modifications to them.
Regarding parts, the news is positive there, too.
First of all, excess parts are available via GM. In April when the Pontiac brand was declared dead, GM spokesman Jim Hopson said there are still new parts available for Pontiacs going even decades back.
Wilkinson affirmed that point Friday.
“We have warehouses all over the country and have a strong commitment to support the vehicles we build,” he said. “There is something of an advantage of our cars being on global architecture. The G8 shares components with Camaro, for example. It’s also sold in China and the Middle East. In some ways the whole parts thing is a whole lot easier nowadays with these global platforms. You don’t have so many one-off vehicles. I don’t think there should be any concern there. If we do file, the whole purpose is to use the tool of the courts to get the company out and running strong.”
Aside from that, there are also manufacturers such as Classic Industries in Huntington Beach, which is the biggest distributor in the GM restoration-parts business.
And, of course, there’s always the junk yard. With 100 years of history behind it and millions of cars made, there are still good parts aplenty if you have to go that route.
Tell that to all the people who are stuck with HD-DVD Players!
But seriously, I LOVE this quote…
“…And, of course, there’s always the junk yard. With 100 years of history behind it and millions of cars made, there are still good parts aplenty if you have to go that route…”
That is just SO reassuring!
Oh, I agree! I just love scouring junk yards when a simple phone call and a quick trip to the local dealer would do. *Sarcasm*
There is also that Classic Cars place in Huntington Beach if you need any parts. I don’t know how new/old the parts are…but I drive a 96 Chevy with a broken air conditioner. Haha…
Of Course if GM goes bankrupt cars will still be sold”until the last one”and dirt cheap.And Parts “being in high demand” will be extremely expensive.
this is not exactly true, current owners resale value on gm vehicles will be hurt even more, companies that work with dealers will diminish as more and more dealers get a notice of closure from headquarters. there is more going on than just a change of hands with gm ownership. the general public looks down on business’ that have to file bankruptcy and require tax payers assistance, especially when it comes to things that involve you and yoru families safety. and lowering production on parts is a definite tactic that will be taken to help puch neew vehicle sales… ever seen the movie robots?
this will also hurt auto sales in california, since plants are closed and productions have halted dealers will tighten the discounts when the supply diminishes. the amount of people that purchase their vehicles out of state is increasing rapidly due to the increased taxes in california.
so, in closing… have fun trying to sell your gm car, truck, or van… or trade it in for that matter.
As of Monday, won’t we all own some GM cars?
It’s time to let sinking ships sink. We need to let government know that we’re sick of them spending money that they don’t have in the first place. GM cars are garbage and their employees should have been forced to find other jobs like everyone else.
Bobby, people who bought HD-DVD players while it still wasn’t decided which format would come out on top deserve what they got.
Hmmmm… 1100 dealers being closed.. nooo they just said
400 more. ok 1600 dealers closing. warranty work will be an absolute joke. these are the last gm products i’ll be buying.
why would anyone buy a gm car in the first place
if gm would have made a quality product we wouldnt be loosing all this money to them
GM at its very worst is better the Toyota at it’s very best and that my friend is a fact……..
Everyone I know and Consumer Reports will say you are wrong.
Umm…yeah. Perhaps you should research the definition of the word, “fact” - you are apparently using antonyms in your daily life.
What we should know - We shouldn’t have bought one! Caseclosed says it’s better that Toyota.
This person should get a life! _ Really!
I started with a 67 Camero and then a 72 Monte Carlo and an 84 Monte Carlo. Among other cars, these were all purchased new.
They turned out to fall apart, as American Cars are won’t to do. I have had three Toyota’s - All J cars (for the uninformed that means made in Japan) and would never go back to a piece of crap assembled by Tuesday to Thursday morons from GM.
Make that “wont” to do
What good news! Now if I can find a non-GM dealer take the orphaned GM cars in trade for a dependable car!
“What you need to know if you own a GM car”,…….It’s worth less than half the value it had 6-months ago!
It so great to have an honest trusting goverment. They wouldn’t lie to the public, right? They wouldn’t get us into this financil mess, right?
ANYONE, that ever trusts these people is either a fool or ignorant or a combination of both.
Instead of giving billions back to the tax payer, in rebates, they gave it to a company that was going to file, this govt does not want its people to be wealthy.
Does Ashton Kutcher work for GM???…….because GM owners you jusy got PUNK’D.
Its not the current inventory of parts but the future that people need to be concerned about. GM will be stiffing many parts manufacturers that may not be able to stay in business when they have to write off or down the money owed than by the General.
People, do not be stupid..
GM is not going anywher, there may/will be shrinkage….There will always be a corvette and a chevy truck….and many other models…
As far as you peolple buying Jap cars, that is good thinking…we should support overseas markets…not good?????I personall bought an Acadia two weeks ago and love it…It has a five year warant, my last toyota lasted 5 years so I figure it is a wash…
Try buying American, it makes you proud to be one…for those who dont-please move out….
GM:
The government should let GM die, like “American Motors” and their cars like the Rambler and Pacer…..
The government (Meaning the Tax Payer-You, I, your friends and family, neighbors) should not bail GM out.. They would not bail out your business, large or small..
The executives, union, debt, drained the company, along with poor quality, in which competitors (like Japan) took advantage since the 1970’s.