Second thoughts about ordering new Cadillac due to bankruptcy (SUVs, credit, versus)
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All that said, with the economy as it is and gas prices rising again, I guess a new Escalade is not where I would spend my motoring dime. But I am not into new, and I am not into SUV, so maybe it's just a matter of taste.
All that said, with the economy as it is and gas prices rising again, I guess a new Escalade is not where I would spend my motoring dime. But I am not into new, and I am not into SUV, so maybe it's just a matter of taste.
What does this have to do with my question about Cadillac?
What does this have to do with my question about Cadillac?
I think the next post answered your question - just that the last time gas went to about $4/gallon, you could hardly give one of these away on the used market, dealers did not want them on trade.
But it's a free country, by all means buy what you want - but if you end up upside-down to the tune of $20,000 to even $30,000 in a year or two - don't blame me...
But, getting back to your first question, I seriously doubt Cadillac is going to go away, even if they did, many wear parts are shared with other GM, and even if all of GM's plants vanished from the face of the earth, the aftermarket would take care of parts very likely much longer than you will want to keep the car.
I remember last summer when gas got up so high. People were shedding their full sized SUV's like crazy and they were practically giving them away.
I know a couple who bought a fairly late model Durango for $1000. And the guy I bought my sod from rolled up to my house in a Lincoln Navigator he picked up for $7500.
And I'm just talking about the resale hit due to a temporary spike in fuel prices...imagine what's going to happen this summer after fuel prices rise, unemployment is up, and these companies go bankrupt.
If I were looking to buy one of these right now I sure would be looking to buy cheap just due to the resale hit. The quality may be absolutely fine....but....
Guys, I'm not concerned about the cost to fill up the tank or how well it holds its value (or doesn't). My concern was about dealer service and parts availability in the future. Your opinions of it not being a good financial decision are worthless to me.
Certainly not implying that you are concerned about the cost of a tank of gas. And if you're looking at new Escalades I would HOPE that you wouldn't be very concerned about it. Congrats on being so dang wealthy that you just don't care.
If it were me the resale hit would be my concern (already own a suburban so fuel milage is the same). I wouldn't want to drop $50k on a vehicle that may suffer serious depreciation because the manufacturer went belly up....but that's just me.
I seriously don't think you're going to have issues finding parts for these. It's not like its a rare vehicle or something. And as was said before several times in this thread the government is going to mandate that the automakers stand behind their warantees as part of the BK....but if they don't it's not like this would be the first time our government failed to do something they said they were going to do.
If it were me I'd wait about a month because the BK talk keeps getting louder and more often....but I'm only saying I'd wait because of the possibility of getting one of these for a steal after the fact.
All this talk about resale value being bad after GM files for bankruptcy is crazy. Resale will only be affected if Cadillac went away, meaning they no longer existed. Just because GM will file for bankruptcy or the possibility of doing so will have no effect on the value because all that means is GM vanquishes it's debt and will restructure.
Like others have mentioned, high gas prices will have way more effect on the resale than GM filing.
If you are so concerned about getting parts and warrenty work in the next few years, why buy it in the first place? When I buy new, I make sure I get something that doesn't require work for at least 5 years or more. And so far the last 3 I have purchased have been that way.
Guys, I'm not concerned about the cost to fill up the tank or how well it holds its value (or doesn't). My concern was about dealer service and parts availability in the future. Your opinions of it not being a good financial decision are worthless to me.
A person who thinks like I do. I never considered the price of gas when I bought a vehicle. I'm by no means rich, but driving a vehicle, especially pleasure driving is an emotional experience for me and something I will pay a premium for and sacrifice on other things. Residual value doesn't interest me either, since I generally don't ever sell a car. That's why I have 12 now.
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