Do You Buy A Car From A Dead Company?

GM's stock is under $3. Plenty of talk that they're over. Does that stop you from buying a GM product?

Comments

[John]

Ya know, I keep seeing articles saying that their biggest problem was not making the small, fuel efficient cars that people want.

Has anyone looked around? The roads are *clogged* with SUVs and mini vans ... because that's what people want!

I get the sense that the authors of those articles are merely inserting their own political agenda into these stories, so as to mesmerize the public into *not* wanting large, safe vehicles.

[SC Mike]

Don’t forget about Detroit’s other problem: too many dealers and the agreements are too expensive to get out of thanks to state laws. Shutting down Oldsmobile cost over $2B, with the dealership settlements a big part (but it did allow me at the time to pick up a low-mileage 2002 Alero for a song).

A structured bankruptcy with the Feds providing Debtor in Possession (DIP) financing would empty the executive suites, break the dealership agreements, drastically revise the labor agreements, and let GM and Ford get back to health -- they have product the public will buy at the right price. (I think Chrysler is toast because it has little in the development pipeline and no overseas product or sales to draw on. Its investors took a gamble and probably lost.)

As for buying a vehicle from a us company that is made & assembled in Mexico, I did. With the Alero at 160K miles, I bought a 2008 Fusion new during the rebate madness in March 08. I considered Mazda, Subaru, and GM, my wife drives a 2007 I-4 Camry, but the quality and equipment on the V-6 Fusion at the price was too good to pass up and cheaper than the Camry a year earlier.

With DIP, GM could scale down to Chevy/Olds, Cadillac, and Saturn / Pontiac or some combo like that, to fight against the DIP-restructured Ford/Lincoln. There’d be a great selection, fewer dealers, and great value for consumers.

[Dr. D.]

Absolutely no way. I cannot speak for others, but I work long, hard hours for my wage and when I put some of it down on something I need, I need for that purchase to be a good one. There is enough concern, lack of quality and unsurety in the world as it is.
Besides my purchases speak to who I am as a person.

[National Transport]

I think that they should allow GM to fail...it would be a hard lesson learned and would probably be better for the economy in the long run.

[Driving School Sydney]

Well, this is not a good situation at all but they should find a honest way to come out of it.

[Cheap Cars]

I heard that Barron's eyes now on General Motors and it seems suited mainly for one group. That's why now no tension for buying in GM cars. ==> www.rzcars.com <==

[AutoCreditFast]

It would be sad to see GM go bankrupt but maybe it is for the best. That way they can restructure and build a better vehicle for less money. It will be a shame for the people that will be out of work.

[M Shah]

The best thing for GM would be bankruptcy. It would allow the company to perform an honest restructuring. This would come at the pain of many, many workers, but at this point it's the only shot GM has.

[Buy & Sell Cars]

Its really not good that GM cars is going down. Crossing the finger to come up..As an alternative I did got the site where now I can purchase new car and can sell old cars with the expert opinions

http://www.gaadi.com

[build electric car]

Doesn't make me feel good that an historic company like GM is sinking, it would be good if it stands up soon , so that we can once again look forward for GM cars.

[Car Pricing News]

I am honestly very sad to hear this news. I think if GM is loosing stock it would not be the end of GM. I think some good news can come out of this economy huh.

[sarah r]

i just got my car on finance, no worries, found it at http://www.visitcars.co.uk/car-finance

that saved me from any money issues. have a look at visitcars, it's an awesome review center!

[Jareci]

No, the price of the stock is not what prevents me from purchasing it. The lack of complete disclosure of the debt that it is in, its practice of crisis management over proactive movement (example: terminating the EV-1 for the Hummer) and the fact that the GM front office and Union leaders refuse to co-operate to save the company leads me to believe that no matter how much money you pump into the company it is still a sinking ship. Problems like the one GM has starts from the top and goes down.

[maplewoodtransmission.com]

I don't think GM losing points on there stock would effect there business even a little bit. In the Land of Corporate Bail Outs, it would seem very unlikely the US government would allow a historical company go out of business, Especially since GM execs GOP/BUSH ties. However, with that being said, I wouldn't buy a vehicle from a us company that is made & assembled in Mexico

[wasdadasdasdad]

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[Auto Insurance Rates]

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[Carmi]

Sure. It's like buying a really expensive lottery ticket.