Titbit: Who Would Have Thought? Saab Bankrupt

SaabBankruptWho would have thought? Saab declares bankruptcy.

On top of that they have killed the warranties on all unsold stock sitting in dealer’s yards worldwide and have suspended warranties on all other vehicles—whatever that means. I guess it means if you own a Saab and you were thinking of getting some warranty work done then you are likely to get a bill for it because Saab are not going to pay up.

On the upside, anyone who was thinking of buying a new Saab should be able to get a very good price because now they don’t have any warranty, which should bring the price down a good percentage. Plus the resale value of second-hand Saab’s will take a dive now so that adds more leverage to negotiating the price down.

There is a very slim chance that Saab management may work out some way to trade out of this economic hole, in which case the value of Saab’s would go back up. So if you bought your new Saab at exactly the right time, and Saab does make a comeback, then you could be in a win-win situation. But, based on what I have read, it would probably be a safer bet to buy a lotto ticket.

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BarryMark