04-09-2009, 11:48 PM
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.
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.