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Meta
General Motors, I of the largest car manufacturers in the world, has filed for bankruptcy protection in America. For as long as cars have been around, General Motors (GM) has been I of the three largest producers of cars in America and I of the largest in the world. Now the car industry is on its knees, and two out of the three big American car giants have now been forced to seek protection from their creditors by declaring themsleves bankrupt. But what effect will this all have on us?
Well, for those of us in the UK, the answer is probably not a lot. If you have a car that was made by GM, you don’t need to worry about the possibility that you might not be able to get parts for it in the future, as the company has not gI out of business entirely. With the financial protection of the US government, they predict the company will be reconstructed in as little as three months. In addition GM Europe, which consists of the British brand Vauxhall and the German Opel, has been bought by a Canadian company who have said they will do all they can to protect the 5,500 UK jobs at stake.
For consumers looking to purchase a new car in times like these, it could well be that leasing or contract hire could be a better option than buying outright, as it gives you more freedom of choice and wouldn’t leave you in the lurch later if the manufacturer did go out of business. Certainly if you are worried about buying a car by I of the main manufacturers tied to I of the companies that is at risk such as Vauxhall or Ford, car leasing could put your mind at ease.
Whether you’re looking for a handy little car about town or a fancy new BMW, car leasing gives you a wider choice of vehicles including those that may otherwise have been out of your price range for buying outright. Your agreement takes into account your projected mileage and wear and tear, so the value of the car will not decrease over time and at the end of your contract you can simply trade it in for the upgrade of your choice. With the car industry in such a state of disaster, it could be the best way to make sure you’re not affected by any future surprises!
For great deals on van leasing and van contract hire
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