GM Offering Z06 Buyers $5,000 in Rewards Points for Not Flipping Their Corvettes

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GM Offers a Financial Incentive to Z06 Owners Who Keep their Corvettes for 12 Months


Chevrolet sent out an email to their Z06 list this afternoon, and it highlighted the Z06 Corvette’s pricing which was announced a week ago. “The announcement you’ve been waiting for” was the headline, and after showing the $106,395 MSRP, the link takes you to the the Z06 page at Chevrolet.com.

However, those who kept reading the email came across this entry that we haven’t seen before.

The second section of the email was titled “Go ahead, reward yourself,” and it appears that Chevrolet is offering a financial incentive for owners who keep their Z06s for 12 months from the date of purchase. The rewards come in the form of redeemable points on the My Chevrolet Rewards Program.

For a limited time, My Chevrolet Rewards members can earn an additional 500,000 points — a $5,000 value — when they retain ownership of their vehicle for 12 months after purchase. Points can be redeemed on GM Financial Payments, Accessories, and more!

Chevrolet Z06 Email


First of all, we can see that Chevy has been thinking about a way to retain owners and stop the flippers, and a $5,000 incentive is a good start. There had been some rumors floating around about a $5K rebate incentive that would also be tied to a non-transferrable warranty, but I am glad to hear the warranty aspect isn’t part of this strategy.

The cynic in me says this won’t stop the early flippers who stand to make a lot more than the $5,000 they will get 12 months later, and that’s not even cash…it’s the value of the rewards points. That same cynic in me wonders, without this program, would the base price be $101,396?

It’s also pretty typical for Chevrolet to put this out on a Friday after 4pm ET without any further supporting details. The email states for a limited time. Is that only good for 2023 buyers?

The email did have this fine print at the bottom:

(1) Must be 18 years or older. Points may be earned and redeemed only at GM entities, My Chevrolet Rewards participating dealers or third-party retailers in the United States (excluding Puerto Rico, the U.S. Virgin Islands or Guam). Points are not earned on taxes, fees or body shop repair orders and expire without further notice upon Member Account deactivation. Visit mychevroletrewards.com to view My GM Rewards Terms & Conditions.

(2) To be eligible, members must have a GM Financial My Account and a minimum of 500 points ($5) available. Customer is still responsible for ensuring all required payments are made on time.

(3) Members may redeem on eligible Chevrolet, Buick, GMC and Cadillac parts and accessories purchased through a My GM Rewards participating dealership. My Chevrolet Rewards is separate from My GM Rewards Cards. Credit approval required. Cardmembers may redeem through any dealership.

I’m not a current My Chevrolet Rewards member, but I can see you can redeem your points for parts and accessories, service visits, OnStar and other Chevrolet-connected plans. So for those who are planning on keeping their Z06s, it will be a nice thank you from the General for keeping and enjoying your 2023 Corvette Z06, but I don’t see this program having a significant impact on slowing down the flippers.


Source:
Chevrolet Z06

Related:
[POLL] Has the Release of Pricing for the 2023 Corvette Z06 Forced Changes In Your Order?
Pricing for the 2023 Corvette Z06 is Officially Announced! Starting MSRP is $106,395
Dealers Can Submit Preliminary Z06 Orders on July 28th but Actual Ordering Could Still Be Weeks Away

 



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12 COMMENTS

  1. You know, I’ve barely owned my ’23 for a month, and I’ve already received emailings from Chevrolet for the Z06. Seriously?

    Was I expected to unload my current ’23 Z51 for a Z06?

    What would Princess Emelia do?

  2. Sadly I agree $5K just isn’t enough, GM should go through the list of people who flipped their C8 Stingrays and put them on a no sale list. Let’s face it as a Corvette owned who purchased new in ’15 and still has the car, these cars are peoples dreams and for a scumbag flipper to deprive someone of their life’s dream car, just to make a fast buck, really needs to be addressed. I hate to see the price go up but if GM change an additional $15K and gave it back after a year of ownership maybe that might help. But good start would be to see who flipped their C8 Stingray and not let them buy the C8 ZO6.

  3. That’s kind of telling. It’s almost like preemptive damage control because of what some have done with the current variant. There is a local used car lot trying to sell a loaded ’22 3LT HTC with just 590 on the odometer for over $130k!

    As for Emelia…her talking up ‘modifications’ on the Z06 as a guest of GM was not cool.

  4. Not going to slow the demand. Heck what is 12 months. You will just make more as supply doesn’t keep up. Better return than a CD.

  5. Just my opinion, GM should only offer a 2 year lease’s on the Z06, no purchase available. At the end of lease give a full credit of the lease toward the agreed price at the signing of the lease for anyone going to buy at the end of the lease. Anyone backing out of the lease would owe the full amount of the lease plus the required 20% at the start of the lease. Hardcore corvette owner are going to keep their at the end of the lease.

  6. WHERE IS CHEVROLET GETTING THIS 5,000 DOLLAR SUM OF REWARD POINTS TO PAY ALL OF THE REAL Z06 BUYERS???
    FROM THE OUTRAGEOUS, HIGH AND GREEDY BASE PRICE ON ALL Z06 MODELS THAT’S WHERE,

    SO ANOTHER STUPID MOVE APPROVED BY MS. BARRA AND MR. REUSS TO PENALIZE CORVETTE FANATICS OUT OF ANOTHER $5,000 THAT IS BEING FORCED INTO THE MSRP.
    DOES PORSCHE HAVE A REWARD POINTS GIFT OF $5,000 ADDED INTO A 911 MSRP?
    JUST ONE MORE REASON TO HATE CHEVROLET WHILE LOVING THE CORVETTE!

  7. WHERE IS CHEVROLET GETTING THIS 5,000 DOLLAR SUM OF REWARD POINTS TO PAY ALL OF THE REAL Z06 BUYERS???
    FROM THE OUTRAGEOUS, HIGH AND GREEDY BASE PRICE ON ALL Z06 MODELS THAT’S WHERE,

    SO ANOTHER STUPID MOVE APPROVED BY MS. BARRA AND MR. REUSS TO PENALIZE CORVETTE FANATICS OUT OF ANOTHER $5,000 THAT IS BEING FORCED INTO THE MSRP.

    DOES PORSCHE HAVE A REWARD POINTS GIFT OF $5,000 ADDED INTO A 911 MSRP?
    JUST ONE MORE REASON TO HATE CHEVROLET WHILE LOVING THE CORVETTE!

  8. Porsche doesn’t have customers buying their cars and immediately turning around and selling them for over $30K or more over what they paid. That does two things 1. It deprives good people who love Corvettes who are at their financial limits at MSRP to buy their dream car and jacks the price up on Owners who want to keep and enjoy their Corvettes. 2. It also encourages Dealers to become greedy and rip customers off. They see the flippers making big profits and feel they are leaving money on the table and that money is profits they should have. This is NOT a good thing people see this and even if they are not interested in Corvettes will take their business somewhere else- I will and I do. I try to avoid rip off Dealerships regardless if the car I am interested in purchasing is not one of those being marked up. Just leaves a bad taste in people mouths. GM should do what ever they can to not allow flipper to buy the ZO6’s.

  9. think about how long its going to take to spend 5000 on service, parts and accessories? Total waste imo. I had $300 saved up from 3 new GM purchases and I could not redeem that when I bought my C8. I could by other GM vehicles and use it to lower the purchase price but not on a Corvette.

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