The credit crunch is really beginning to take its toll. With major automakers General Motors and Chrysler not doing so good, it raises quite a bit of concern for their new and old customers. This not only affects GM and Chrysler, it also affects their multiple subsidiaries and their customers. What will happen to their warranties? What will happen when these vehicles need serviced or parts? Will people leasing vehicles encounter any problems?
Your warranty with GM or Chrysler is safe though. The government is working with both companies to create a fund that can be used in the event that either of these companies goes bankrupt. The fund will protect consumers and their warranties. In fact, your warranty is probably safer than ever with the government backing it up. This includes any servicing that is needed for your vehicle.
As far as leased GM and Chrysler vehicles, that is all done through financial institutions. The auto makers don’t actually lease your vehicle. As long as the financial institution you’re leasing your vehicle through still exists, so will your lease.