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Smart Shopper Bankruptcy? What happens to my car warranty then?
56 messages, Last post on Jun 04, 2009 at 10:00 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
What if My Carmaker, Dealer or Warranty Company Goes Under? - We're facing the most tumultuous period of modern automotive history. With daily reports on the possible sale or elimination of major car brands, the potential bankruptcy of automakers General Motors and Chrysler, and the closure or consolidation of hundreds of dealerships, consumers are asking a lot of "what ifs." (more) -
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If the manufacturer of your new car goes bankrupt, what will happen to your factory warranty? Or if you have an extended warranty that's backed by the manufacturer, will that warranty still be honored? Extended warranties from third party companies should still continue to be backed by those companies, but if the dealer network is no longer affiliated with a manufacturer, will the third party extended warranty company reimburse your repairs? Lots of questions - who has answers?
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There's a general Extended Warranties discussion that may be helpful if you are thinking of buying coverage to protect you in case one of the automakers files bankruptcy. The Jeep Cherokee owners have kicked this potential problem around a bit in the What will happen to my Chrysler warranty? discussion. And there's Chrysler's New Lifetime Drivetrain Warranty that I guess is at risk of going away or being changed.
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Replying to: steve_ (Mar 09, 2009 10:52 am) Not long ago if I were buying a BIg 3 car and getting an extended warranty I'd have been looking for one from the manufacturer rather than a third party. Now it might be exactly the opposite.
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Replying to: fezo (Mar 09, 2009 1:29 pm) Someone wrote into our Help Desk asking about this, and it sounded like a good topic. One rather hopes it's all hypothetical. Maybe a Daewoo owner can pop in. It is funny how things flip 180 degrees sometimes eh? I've always poo-pooed third party warranties (and I sure wish the FTC would jail those idiots who call me once a week to my number that's on the do not call list trying to sell me one).
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Replying to: steve_ (Mar 09, 2009 1:47 pm) Of course I'm not exactly the guy they want. We've got four cars. The only one under 110K is the CPO Ody which has loads of warranty left.
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Replying to: fezo (Mar 09, 2009 1:58 pm) 
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Replying to: steve_ (Mar 09, 2009 2:14 pm) Ask the next one for a quote on the Daewoo that somehow escaped their notice... That could answer your question about them! There's someone around her that has a Daewoo still. I see it maybe once every two weeks. |
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| the stockholders lose. So, why should the warranty continue and be valid? | |
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Replying to: steve_ (Mar 09, 2009 10:49 am)
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Replying to: nortsr1 (Mar 10, 2009 6:02 am) 
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