Lester Holt, is the co-anchor of the weekend edition of NBC’s The Today show. Holt sat down with Scott Cohn, CNBC, and Lou Ann Hammond, CEO, carlist.com, to talk about what the General Motors bankruptcy means to consumers who own General Motors cars.

What will happen to the resale value of General Motors and Chrysler vehicles since GM and Chrysler have gone bankrupt?

Will the warranty still be okay?

What are orphaned cars?

Are there great deals to be had for the consumer?