GM Car Warranties Still Good Despite Bankruptcy

Unless you've been living under a rock, you've probably heard the news that GM filed for bankruptcy this week.

Many car buyers are now worried about whether GM will be able to provide warranty coverage.

The government has agreed to provide $361 million towards covering any GM warranties for cars purchased during the bankruptcy process. Chances are, if you buy a GM car and it breaks down, you won't have to worry about it.

The one thing you WILL have to worry about is a drop in resale values. It's likely the prices of late-model GM cars will drop (as happened with Chrysler after they declared bankruptcy).

Also, with GM in the process of terminating 2,000 dealers over the next couple of years, it may be more difficult to service your car locally. Just some things to keep in mind if you're thinking of buying a GM car.

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