Saab finally reaches end of the road, warranty coverage "suspended"

Saab turned into a dead end today, as the company filed for bankruptcy in a Dutch courtroom, leaving thousands of owners wondering, "What next?"

For Saab owners, it is a dark day, as the company has suspended warranty coverage. Let this be a warning to those who may consider purchasing from the about 3,000 9-5s and 9-3s remaining in dealer inventories.

Michele Tinson, a spokeswoman for Saab North America, which is not involved in the bankruptcy, said the U.S. branch is awaiting news from Europe on whether there will be any money remaining to provide warranty coverage for existing Saab owners. But she said the company's 204 dealerships will continue to provide service and parts and for existing Saabs.

The company ran out of options when its former parent, General Motors, blocked a deal that would have provided a cash injection from Chinese automaker Zhejian Youngman Lotus Automobile.

As we said back in May, Saab buyers are in a tough place. No one knows whether warranty coverage will resume, or how long the U.S. sales, service, and parts network can continue without the parent company. With plenty of better options among upscale and luxury sports sedans, there's really no good reason to buy a Saab today. Even those loyal fans should exercise caution before buying a new Saab, unless they gamble on it becoming a collector's item one day.

—Eric Evarts