Saab Files for Bankruptcy, Great Deals on Remaining Models

Saab is seeking full liquidation which means they will no longer make new cars or honor warranties on the cars that have been sold.

GM announced they will honor warranties on Saabs sold while they were still the parent company back in 2010.

But owners of current Saabs will still take a depreciation hit since consumers are less likely to purchase vehicles where the manufacturer is no longer in business.

They will also have a harder time finding spare parts and getting the vehicles serviced.

However, this presents an opportunity for those still interested in a Saab and don't mind the drawbacks.

In its most recent Vehicle Dependability Study, J.D. Power ranked Saab above the industry average, finishing 13th on a list of 34 brands.

New Saabs that are still sitting on dealer lots will likely be deeply discounted. There are currently about 1,500 new Saabs available across the country with the majority being the Saab 9-3 and 9-5 models.

Just keep in mind these vehicles won't come with a warranty and will likely have low resale value, so only consider buying if you intend on keeping the vehicle for a long time.