Pre Packaged Bankruptcy - Page 2

TomServo · 12-04-2008, 09:53 AM

I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for. I've already head rumors that Recaro is not shipping seats for the CTS-V because of payment concerns. Consider how the thousands of sub-vendors are going to react to a bankrupcy?

Does anyone really think all these details will be sorted out by Jan or Feb??

I cant' afford to make a $60K mistake and have told my dealer don't be surprised if I cancel my order.

Hylton · 12-04-2008, 09:53 AM

Quote:

Originally Posted by OldTimer

No canceling for me. It would most likely push all of our orders back considerably as more constraints come into play as some of their suppliers balk. My only concern would be, where does GM go to get replacement vendors and are those parts as good as the original supplier?

I think this would all depend on the pre-arrangement. All creditors will have to be in agreement of how the company will proceed. Since most suppliers are also creditors, they will be in full agreement with how things will continue. In other words, suppliers will not stop supplying because they will have a government and court backed agreeement on how and when they will be paid.

Hylton · 12-04-2008, 09:55 AM

Quote:

Originally Posted by TomServo

I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for.

Does anyone really think all these details will be sorted out by Jan or Feb??

I cant' afford to make a $60K mistake.

Well if GM went Chapter 11 but the government guaranteed the warranty, would you still not buy? Lemon laws will still apply but I doubt you would have to worry about that with a CTS-V.

bigralph · 12-04-2008, 09:57 AM

The hearing is about to start. Go to CNN.com to see it live.

UCF w00t · 12-04-2008, 09:58 AM

I would want some guarantee that my warranty won't be useless. Maybe they'd do something like get a 3rd party to cover the warranties?

Hylton · 12-04-2008, 10:00 AM

I'd be more concerned about the people who have cars with valid warranties now vs. people who bought after a pre-arranged Chapter 11.

Hylton · 12-04-2008, 10:01 AM

Quote:

Originally Posted by bigralph

The hearing is about to start. Go to CNN.com to see it live.

Watching now. Wagoner seems fine - I guess the Volt works!

Got one window streaming the hearing, one window watching the real time GM stock price and one window on Camaro5 of course. Oh ya, there's work as well....

TomServo · 12-04-2008, 10:10 AM

Quote:

Originally Posted by Hylton

Well if GM went Chapter 11 but the government guaranteed the warranty, would you still not buy? Lemon laws will still apply but I doubt you would have to worry about that with a CTS-V.

As I said I'd need to know the conditions and terms agreed upon and the protections I'd have as a buyer. But my initial concern is the ability of GM to continue production (without delays) due to vendor issues than warranty issues.

One thing at a time. We can't worry about warranty issues if GM can't produce the vehicles in the first place.

So as they say the "devil is in the details" and does anyone really think it will be sorted out in Jan or Feb??

Legend · 12-04-2008, 10:11 AM

I'd still purchase mine...without any hesitation!

*radz28* · 12-04-2008, 10:15 AM

I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying. I completely plan on ordering a car when I'm in a position to and I hope (and have confidence) that GM and the others will pull through. I don't know if I have that same confidence that the government won't try to screw us out of high-performance cars in the future but who really knows? Anyways, I wouldn't pull my order unless it couldn't be fulfilled.

Hylton · 12-04-2008, 10:17 AM

Quote:

Originally Posted by radz282003

I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying.

My thoughts exactly. If you believe that what you have purchased is of high quality, why would you care about a warranty?

Txturbo · 12-04-2008, 10:23 AM

I won't cancel mine....I buy cars all the time without warranty. I hardly ever need it. If it was just an ordinary car I might consider it, but it's a Camaro. If GM does file for bankruptcy and they can't sell cars, the value of my Camaro will only go up, warranty or not.

Hoss · 12-04-2008, 10:34 AM

Not enough info to even consider canceling the order at this time. I will say I will not blindly purchase anything. My order stands for now!!!

A purchase without a warranty at msrp...............probably not.

*The_Blur* · 12-04-2008, 10:39 AM

My concern is that I'll never get to place an order because not enough people will put money down for GM under any form of bankruptcy.

12-04-2008, 10:00 AM	#20
Hylton Drives: fanboys and ass kissers crazy. Join Date: May 2008 Location: Ottawa, Ontario Posts: 7,275	I'd be more concerned about the people who have cars with valid warranties now vs. people who bought after a pre-arranged Chapter 11. __________________ "BBOMG - More than just a car show.... It's an experience!"

12-04-2008, 10:15 AM	#24
radz28 Petro-sexual Drives: Ultra-Grin Join Date: Oct 2006 Location: Crazy Coast Posts: 15,805 View My Garage	I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying. I completely plan on ordering a car when I'm in a position to and I hope (and have confidence) that GM and the others will pull through. I don't know if I have that same confidence that the government won't try to screw us out of high-performance cars in the future but who really knows? Anyways, I wouldn't pull my order unless it couldn't be fulfilled. __________________ '20 ZL1 Black "Fury" A10, PDR, Exposed CF Extractor Magnuson Magnum DI TVS2650R // RFBG // Soler 103 // TooHighPSI Port Injection // THPSI Billet Lid // FF // Katech Drop-In // PLM Heat Exchanger // ZLE Cradle bushings // BMR Chassis-Suspension Stuff // aFe Bars // Diode Dynamics LEDs // ACS Composites Guards // CF Dash // Aeroforce // tint // other stuffs

12-04-2008, 10:23 AM	#26
Txturbo Keeper of the Faith Drives: 2001 Z28 Agressively Join Date: Apr 2008 Location: Rosenberg,Texas Posts: 1,380 View My Garage	I won't cancel mine....I buy cars all the time without warranty. I hardly ever need it. If it was just an ordinary car I might consider it, but it's a Camaro. If GM does file for bankruptcy and they can't sell cars, the value of my Camaro will only go up, warranty or not. __________________ 2010 Camaro SS R6P 2001 Camaro Z28 1969 Camaro SS clone

12-04-2008, 10:39 AM	#28
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,768	My concern is that I'll never get to place an order because not enough people will put money down for GM under any form of bankruptcy. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

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12-04-2008, 09:53 AM	#15
TomServo Drives: 2007 Z06 Join Date: Oct 2008 Location: Swansea IL Posts: 727	I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for. I've already head rumors that Recaro is not shipping seats for the CTS-V because of payment concerns. Consider how the thousands of sub-vendors are going to react to a bankrupcy? Does anyone really think all these details will be sorted out by Jan or Feb?? I cant' afford to make a $60K mistake and have told my dealer don't be surprised if I cancel my order.

12-04-2008, 09:57 AM	#18
bigralph Drives: 2001 v6 Camaro Join Date: Dec 2007 Location: Northborough, MA Posts: 267	The hearing is about to start. Go to CNN.com to see it live.

12-04-2008, 09:58 AM	#19
UCF w00t Geek Drives: IOM 2010 Camaro 2SS Join Date: Oct 2008 Location: Orlando Posts: 4,451	I would want some guarantee that my warranty won't be useless. Maybe they'd do something like get a 3rd party to cover the warranties?

12-04-2008, 10:11 AM	#23
Legend Hello! Drives: 2008 JSB Z06! Join Date: Oct 2008 Location: Texas Posts: 2,624 View My Garage	I'd still purchase mine...without any hesitation!

12-04-2008, 10:34 AM	#27
Hoss Drives: 2004GMC Extended Cab Join Date: Oct 2008 Location: North Texas Posts: 623 View My Garage	Not enough info to even consider canceling the order at this time. I will say I will not blindly purchase anything. My order stands for now!!! A purchase without a warranty at msrp...............probably not.