Chevy Releases Additional Details and the Customer Sign-Off Form To Tamp Down on Z06 Flippers

By
Keith Cornett
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18
16163

Chevy Releases Additional Details and the Customer Sign-Off Form To Tamp Down on Z06 Flippers


General Motors certainly has our attention now that their Carrot/Stick policy for dealing with flippers of in-demand vehicles has been released.

First, Chevrolet put out a plan to reward 500,000 My Chevy Reward points valued at $5,000 to Z06 buyers who keep their cars for 12 months. Then they told the flippers that if they sell their Corvette Z06 within the 12-month timeframe, they will be blacklisted from reserving or submitting new “sold orders” on future “in-demand” vehicles while also warning those who buy from a flipper that their warranty will be voided.

Chevrolet today sent out additional details to dealers about this response and also included the Customer Acknowledgement Form that Z06 buyers will be required to sign. Check them out below:

Dealer Notification

Dear Chevrolet Dealership Team,
Last week, GM North America President Steve Carlisle sent a Global Connect message outlining efforts to combat the flipping and brokering of high demand, limited production vehicles.

At Chevrolet, those efforts are being taken to help prioritize Corvette Z06 ownership by our top brand enthusiasts and most loyal customers. In addition to the retention program announced yesterday, we’re giving 2023 Z06 owners buyers another reason to enjoy their vehicle: new and existing My Chevrolet Rewards program members can earn an additional 500,000 points —a $5,000 value, when they retain ownership of their new Corvette Z06 for 12 months after purchase. Points can be redeemed on eligible GM Financial Payments, Accessories and more.

If a customer does not keep their Corvette Z06 for 12 months:
  1. They will be ineligible to place vehicle reservations or place a sold order with a dealer for certain high demand models (as identified by GM) including but not limited to future Corvette Z06.
  2. The Bumper-to-Bumper, Powertrain, Sheet Metal, Tire and Accessory coverages under GM’s New Vehicle Limited Warranty will be voided.
  3. They will not be eligible to receive the exclusive Z06 award of 500,000 My Chevrolet Rewards Points (a $5,000 value).
Dealers will need to have all 2023 Corvette Z06 customers sign the attached acknowledgment form at the time of delivery and make sure they understand what will happen if they do not retain the vehicle for the required 12 months. This document should be kept in the deal jacket and made available to GM upon request.

We’re hopeful that these changes will benefit the customer experience and keep our brand strong.

Thanks,
Scott Bell
Vice President Chevrolet


Customer Acknowledgement Form

Dear [CUSTOMER NAME],

Congratulations on your decision to purchase or lease a model year 2023 Corvette Z06. You are part of an exclusive group of customers with the opportunity to acquire one of the most powerful sports cars in the history of Chevrolet! Given the limited quantity of model year 2023 Corvette Z06 vehicles, sales are reserved for true Chevy enthusiasts.

We are proud to have you as a customer and want all our loyal customers to receive the superior Chevrolet experience provided by their preferred dealer, avoiding speculators who may try to resell Corvette Z06 vehicles on the secondary market. We encourage you to cherish this special vehicle and to maintain possession for at least one full calendar year from the date on which you take delivery. If you decide to sell, or otherwise transfer ownership of, your 2023 Corvette Z06 within the first 12 months after delivery:

  1. You will be ineligible to place vehicle reservations or place a sold order with a dealer for certain high demand models (as identified by GM) including but not limited to future Corvette Z06.
  2. The Bumper-to-Bumper, Powertrain, Sheet Metal, Tire and Accessory coverages under GM’s New Vehicle Limited Warranty will be voided.
  3. You will not be eligible to receive the exclusive Z06 award of 500,000 My Chevy Rewards Points (a $5,000 value).
By signing below, you are acknowledging that you understand these terms. Given the impact on warranty coverage, you are also agreeing that, if you choose to sell this vehicle within one year after you have taken delivery, you will communicate the loss of warranty coverage to the transferee. These changes will not impact product recalls in any way.

We appreciate your enthusiasm for Corvette Z06 and we are happy to have you as part of the Chevrolet family.

______________________________
VIN
________________________________________________________
Signature/Date


Source:
CorvetteActionCenter

Related:
Chevy Drops the Hammer on Z06 Flippers by Limiting Z06 Warranty Transfers
GM Offering Z06 Buyers $5,000 in Rewards Points for Not Flipping Their Corvettes
[POLL] Has the Release of Pricing for the 2023 Corvette Z06 Forced Changes In Your Order?

 



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18 COMMENTS

  2. Finally hopefully this will curb the secondary market. It won’t prevent it but at least tamp it down.

  6. that’s funny , now everyone that is not positioned on ‘the list’ high enuf but willing to pay the ‘voluntary’ extra will have to wait a year. the z06 is not on my menu , the stingray is ‘good enuf’ for me…..but .flippers preform a service , like ticket brokers , and charge for their service which we have the right of refusal.. i don’t regret any of those high priced tickets , nor my lil’blu 2020c8……. peace

  7. What about the greedy Dealers ? Iam one of the top 10 on my dealership Z06 list and was informed today that there will be a $50,000.00 mark-up over MSRP. That brings my total build to $213,500.00 + TTL. THAT IS INSANE !!!! Does GM realize the negative publicity they will receive from loyal Corvette enthusiasts from social media, emails, phone calls, etc. for years to come. Maybe we should boycott and petition dealerships ? I don’t want to pay that much over MSRP, it’s an insult, a slap in the face. There is a solution to this madness. GM can take control of this situation real fast. The dealers that charge an exuberant amount over MSRP get 1 allocation a month, the one’s that sell for MSRP get all the cars they want. Ok GM/Chevrolet, time to decide. Your dealerships or your customers?

  8. I have paid to be on a list since February 2019 for cost of $3500. I am Number 6 on their list. All along this dealership has stated it never has sold a car over MSRP and will not do so in the future! Guess What – When I placed my preliminary order last Friday I was told there will be a $30,000 charge over MSRP!! What a Ripoff! What is GM going to do about their Greedy Dealerships? I suggest they greatly reduce their future premier allotments. Just giving them a written warning is not going to do it. They will find a way to sell to anther dealer and receive it back as a used demonstrator or a used car and sell it for $20,000 to $75,000 over MSRP with a fully transferred warranty.

  9. I am so glad GM is doing this! I hope this clears some of the flippers from some of the waiting lists!

  10. All this grumbling about the MSRP and the now punishment of flippers. With the CB survey indicating that of 2020 respondents saying they are OUT (54%) and will not pay the price, I figured that my too high number on the waiting deposit list at a major MSRP dealer would shrink considerably in the last couple weeks. Nope…6 positions only.

  12. When I got on the list at my dealership in 2020, I received a document that says I will pay MSRP. I guess they can try to change that but according to my legal counsel I have a legally binding agreement. I have been informed by my dealership that my position on the list means that I will begin the build/order process sometime this month. According to them they are still honoring their commitment to sell the car at MSRP. I have no intention to resell the car at any price. I have owned a 74 C3, 84 C4, 88 C4, 01 C5 Z06, 07 C6 and a 09 C6. I am looking forward to this purchase like a kid getting his first car. I am ready…….

  13. How about Chevrolet Corporation do something to the dealers who are raising the prices of new C8 tens of thousands above MSRP. I know what MSRP means, but common practice should be guiding the dealerships from this conduct. I know a few dealers in my area, that are charging 20-30 thousand or more for new C8. And I will never purchase another vehicle from them again.

  14. Great move GM…now still need to crack down on MAP. If dealers sell above MSRP, reduce ALL their GM allocations across the board. Reward honest dealers and punish those who break the rules. This will end it quickly.

  15. It appears with GM’s latest move, the real stealing has been transferred from the flippers to the dealers – and they are taking advantage of it.

  16. DEALERS STILL SELLING OVER STICKER EVEN THE ONES YOU THINK YOU CAN TRUST ARE STILL DOING IT…CHEVY LOOKING THE OTHER WAY

  17. Dealers that want to make additional money should be treated exactly like a real customer. They need to register, license, insure, pay sales tax and gas guzzler tax and hold for a year.
    Why should they be allowed to steal more money than GM makes on any given vehichle? I refuse to pay over MSRP.

  18. This is a positive move on Chevrolet Management. The C8 is a great buy at list price for what you get. The engineering is excellent, great product, good price point!

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