So the axe has dropped on nearly 800 Chrysler dealerships and 1,100 GM dealers across America. If one of those dealers is near you, here’s what you need to do:
First, give some serious thought to buying from a dealer that’s being closed down. Chrysler has posted a list here, while GM hasn’t publicly released the information. All you have to do, though, is ask your salesperson, because there’s no doubt he knows if he’ll be looking for work in the coming months!
Chrysler dealers will be the most desperate to unload inventory, and you can bet your booty that they’re willing to do whatever is necessary to sell cars, since Chrysler doesn’t have the money to buy back any of them. Watch out for a flood of Chryslers hitting the market at bargain prices! (Great for buying new now, terrible for resale later.)
If you do buy a new GM or Chrysler, make sure you don’t buy a dealer warranty. Seems obvious, but the dealer won’t be around to honor it, so don’t waste your money. Keep in mind, though, that a dealer warranty isn’t the same as an extended warranty, which may still be worthwhile.
Once you buy your discounted car, you still have to maintain it. I’d ask a mechanic at the closing dealer if he’s moving to another local dealer and follow him.
In the long run, I’d expect great deals on cars to disappear as GM and Chrysler condense their dealer networks. Fewer dealers means less competition and higher profits, which is great for business, but sucks for buyers. If you’re OK with buying from a bankrupt (or near bankrupt) automaker, this could be your chance to seal the deal of a lifetime! You have until June 9 with Chrysler.
Is your GM dealer closing? Find out and let us know!