So my parents have been using a GM credit card for years. For every transaction that you make, it tacks on a dollar toward a purchase of a GM car. Right now they have thousands of dollars and are now looking to use it. Just wondering if it is too risky to buy GM right now. Obviously, if they get completely wiped off the map, then future replacement parts, maintainence, etc. in the future will be an issue. Anyone know of the risks of buying GM right now? What else should we know? TIA.
Well, as for Saturn, which is what they're looking to buy, there's talk of Saturn dealerships being closed. So even if GM does declare bankruptcy, Saturn may still be gone. So I guess the question is, is it too risky to buy Saturn?
Just realize that you can only put so much of your GM credit towards a single vehicle. I think I only got $8000 off the purchase of my truck, maybe less.
If they buy a mass-market car, there won't be much trouble getting parts or service, even if they go out of business. If there's enough of a market, someone will make the parts.
I think Saturn is one of their more successful brands, no? Does it use non-unionized workers in the south (Tennessee)? I'd imagine if GM craters, Saturn would be sold off to another company or made independent. It seems like one of the few things GM has done right.
the only risk is that you will get a crappy car which is always the risk with GM. Get a Ford, oops you are locked in with the credit card, cross your fingers?
