Suzuki Bankrupt, Fire Sale Expected
This week, Suzuki filed for bankruptcy protection and announced they will no longer sell automobiles in the U.S.
This isn't a huge surprise, considering Suzuki sales have been terrible over the past couple of years. But this does present a good opportunity to land a great deal on the remaining unsold inventory. Suzuki dealers have four models they need to get rid of quickly, with total inventory of around 2,500 units remaining on dealer lots. Price drops will likely be in the thousands of dollars.
The good news is that Suzuki will still be honoring the warranties on all new vehicles sold. Out of 220 Suzuki dealers nationwide, around 77 sell other brands so they will still likely be around to service the vehicles. Parts should still be available, but a bit harder to track down.
If you are considering buying a Suzuki, keep in mind that resale values will take a big hit - as they normally do when the manufacturer goes out of business. For this reason, you should only consider buying one of the remaining models if you intend to keep it for at least 6 years. (Preferably, you'll keep it until the wheels fall off).
Of all the models, the Kizashi family sedan has had the most favorable reviews. Below are the remaining models and estimated nationwide inventory remaining.
|2013 Remaining||2012 Remaining|
|Suzuki Grand Vitara||167||295|
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.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- 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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