Would you buy a car from a company in bankruptcy?

[Marc Anthony]

After reading thisToughBreakforConsumers I'd have to say that I'd be very wary of doing so, but I still might if the deal was a couple thousand on the low side of fair market value, which would insulate me from most potential repair costs.

[Will Collier]

Gotta go with Zoidberg. I wouldn't buy a car from Ford, Chrysler or Government Motors--they don't have a single car I'd want to own. I've been screwed by Ford's fall-apart-at-80K cars, and there's never been a GM or Chrysler car I'd care to own.

Okay, I'd own a Vette, if it were free. But I wouldn't buy one.

Now, all that said, and answering the actual question, the answer is "maybe," but there's a caveat: I don't buy new cars. I'd probably buy a used car made by a bankrupt company as long as I was reasonably sure I could get parts for it later (i.e., no Yugos).

[ADent]

It is the people that buy BEFORE bankruptcy that are screwed. Their warranties could be voided by the court and such.

Post bankruptcy company should be able to limp on for another 5-10 years (GM at least, not so sure about Chrysler) and once the dust settles after the BK (and say Saturn, Hummer, Saab, are shuttered) - it should be good to buy.

If GM goes under and takes the US supplier market with it Toyota and Honda can still import a lot of cars from Japan. Though some models are US only - they will have product on the lot.

[DP]

Maybe GM, et al., were crappy a long time ago but I have leased Ford or Chrysler vehicles for the past twenty years with no issues. The quality of American companies has improved dramatically with Buick and Ford right up there with the Japanese. A friend recently had his Honda Pilot in the shop for the front suspension spring breaking! It was a recall issue too.
Besides, our new President says the Government will back up all warranties. What could be safer than that?

[modelamac]

The current situation is not quite the same as what is suggested in the poll. I answered no, but would answer yes in today's market situation.

[mick e]

Thanks everyone for participating. mick e's purpose for running this poll was to see how dramatically bankruptcy would effect a car company's ability to recover in the current economic climate.

They automakers have maintained that any form of bankruptcy would be a death sentence for their companies. This tiny, unscientific poll bears out that opinion.

[freeradical]

You'd probably get different results to your unscientific poll in these forums.

http://chevroletforum.com/forum/

http://www.gm-trucks.com/forums/

[mick e]

Why would mick e do that?