GM Inside News Forum banner
1 - 8 of 8 Posts

·
Registered
Joined
·
1,337 Posts
Discussion Starter · #1 ·
I have a 2007 Buick, for which I bought the best extended warranty GM had to offer on it.

Does anyone know, if they are forced into bankruptcy, will they still have to meet this warranty's obligations? Or can they just toss it aside?

Thanks
Brian
 

·
Registered
Joined
·
4,227 Posts
I know a lot of extended warranties are offered through the dealer or they are private (non-GM). I had an extended warranty that was private I believe on my '02 Buick that was 7 years / 75,000 miles. Check the warranty papers to see what yours is.
 

·
Registered
Joined
·
1,337 Posts
Discussion Starter · #4 ·
Guys - I am 100% confident I bought the GM extended warranty. Major Guard.
 

·
Registered
Joined
·
8,904 Posts
It is GMPP, I wouldn't worry...
Ya, we would need one of the CPA's to chime in here... but I believe that even in a case of Chapter 7... An extended warranty is a pre-paid service and there for would be a liability that is honored after taxed but BEFORE the bond holders get there cut...

So ya if GM declares Chapter 11 you'll be fine... If they declare Chapter 7 you can get a little nervous but you should still be fine...

The bigger question will be parts and dealers... What good will a warranty be if there are no parts and nowhere to have it fixed.
 

·
Registered
Joined
·
6,231 Posts
The bigger question will be parts and dealers... What good will a warranty be if there are no parts and nowhere to have it fixed.
I wouldn't worry about that for most GM cars. There's millions of them on the road and the rights to the parts will be worth something in bankruptcy court. Plus there's thousands of trained GM Mr Goodwrenches that will be working somewhere, and many of the dealers may consolidate or do service only.

However for low production cars (erm, GTO), you may have problems.
 

·
Registered
Joined
·
1,337 Posts
Discussion Starter · #7 ·
So, let's talk worst case scenario, because I'm a risk averse type of person. Assume GM goes Chapter 7 bankruptcy.

My 2007 Buick only has 20k miles on it. I don't really start getting value from the extended warranty until more than TWO years from now when the factory warranty ends.

Then I'd get two years to use it.

Seems like if GM goes BK soon, my chances of getting service under a gm extended warranty 3 or 4 years from now seems slim. Will they really put enough money aside to pay dealer service departments for 2, 3, 4+ years??

I think it's time to get my pro-rated refund. :( This is an extremely sad turn of events for a lifelong GM fan and loyalist.
 

·
Registered
Joined
·
25 Posts
Eventually, sometime in late 2010, GM resolves its issues with GMAC, dealerships, parts suppliers and unions. Asset sales are now well under way or concluded under the auspices of the bankruptcy court. A new capital structure has been welded to a new, streamlined operational chassis. And there are some nifty, new fuel-efficient cars, too.
______________
Switch into Good:clap:
 
1 - 8 of 8 Posts
Top