Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
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) -
|
|
|---|---|
|
Even if the car company goes bankrupt, there is still money in servicing those cars. Part of the bankruptcy agreement will entail servicing the warranties. Just expect bad service by a third party company. But hey, if you bought a GM your probably expecting to spend time at the service station anyway. |
|
| What if My Carmaker, Dealer or Warranty Company Goes Under? | |
|
|
|
Hello, I read the news articles about the federal govt. honoring GM and Chrysler warranties. "The program will cover consumers who buy a new GM or Chrysler vehicle during the restructuring period, according to a U.S. Treasury Department statement." What if you already own a GM car with an extended warranty and they declare bankrupcy?? My son is going to college in the fall. We bought him a 2007 Malibu Maxx with all the extra safety features curtain & side airbags, etc. We also bought the extended warranty to cover him while he was away from home in college. But what happens if GM goes bankrupt??? The current proposal by Obama's administration only covers cars purchased during an upcoming transition period. We're still making payments on the car, including the cost of the warranty. I feel sick. Thanks for any info anyone can share. A concerned mom
|
|
|
Replying to: allicat1214 (Apr 01, 2009 3:34 am) I believe the GM factory extended warranty is underwritten by GMAC, which is a separate entity than GM. GMAC has been described as "cash-strapped," but isn't in such dire straits as GM itself. If it makes you feel better, you can cancel the GMAC warranty and get a prorated refund. If you financed the warranty, I think the payoff goes to the lender, but this will reduce the principal balance of your loan.
|
|
|
|
|
Replying to: corvette (Apr 01, 2009 10:13 am) |
|
So IS the federal govt covering the warranty, or are they just saying they WILL/MIGHT? Is the warranty protection in place already or is it something pending blah blah legislation? I'm looking to buy a town and country but need some warranty assurance.
|
|
|
Replying to: wp746911 (Apr 03, 2009 5:07 pm) |
|
|
|
| thats what the news reported,maybe i can get my congressman to replace my fuel pump.or diagnose my check engine light,ehh? i wouldn't worry myself about it,life's 2 short,ya know...and there's always gonna be another problem to take your mind off of this one. drive careful crew. | |
You are here:
Forums
Smart Shopper Bankruptcy? What happens to my car warranty then?
