Saab Files for Bankruptcy, Great Deals on Remaining Models
Saab filed for bankruptcy this week which means headaches for current owners and opportunities for prospective buyers.
Saab is seeking full liquidation which means they will no longer make new cars or honor warranties on the cars that have been sold.
GM announced they will honor warranties on Saabs sold while they were still the parent company back in 2010.
But owners of current Saabs will still take a depreciation hit since consumers are less likely to purchase vehicles where the manufacturer is no longer in business.
They will also have a harder time finding spare parts and getting the vehicles serviced.
However, this presents an opportunity for those still interested in a Saab and don't mind the drawbacks.
In its most recent Vehicle Dependability Study, J.D. Power ranked Saab above the industry average, finishing 13th on a list of 34 brands.
New Saabs that are still sitting on dealer lots will likely be deeply discounted. There are currently about 1,500 new Saabs available across the country with the majority being the Saab 9-3 and 9-5 models.
Just keep in mind these vehicles won't come with a warranty and will likely have low resale value, so only consider buying if you intend on keeping the vehicle for a long time.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
New York Tri-State Residents - Important:There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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