GM Establishes Ownership Mandates for the 2024 Corvette Z06 to Counteract Flipping

Aug 17, 2023 2 min read
GM Establishes Ownership Mandates for the 2024 Corvette Z06 to Counteract Flipping

CZ8 owners will have to agree to these...

In a move to counter the trend of new owners reselling their cars for profit shortly after purchase, GM has introduced strict ownership requirements for buyers of the 2024 Corvette Z06. This mid-engine marvel, known for its unparalleled performance and striking design, has become a hot target for "flippers" looking to capitalize on its high demand.

Check out Colorado's newest car museum here.

Prospective buyers of the 2024 Corvette Z06 will now find themselves penning an agreement that delineates the ownership stipulations set by GM. Key among these is the provision that if a buyer chooses to resell or transfer their vehicle's ownership within six months of receiving it, they will face notable consequences. This would include being barred from reserving or placing orders with dealers for upcoming high-demand GM models. This covers not only the coveted Corvette but other sought-after models in the GM roster.

Adding teeth to this mandate, any breach of the agreement within the six-month period would also result in the nullification of the Corvette Z06’s comprehensive warranty. This includes warranties covering bumper-to-bumper, powertrain, sheet metal, tires, and accessories under GM's new vehicle umbrella.

Should a Z06 owner decide to part ways with their vehicle within this timeframe, they bear the responsibility of notifying the new owner about the terminated warranty, safeguarding the transferee's rights and expectations. It's important to note, however, that these stipulations do not extend to product recalls. Safety remains a priority, and any recalls will be handled independently of this agreement.

This isn't the first time GM has put such measures into play. Initially, the automotive giant had set the ownership barrier at 12 months for the 2023 Corvette Z06. However, this was later adjusted to the current six-month period. A noteworthy incentive for 2023 Z06 buyers was the offer of 500,000 My Chevrolet Rewards points, equivalent to a value of $5,000, for adhering to ownership conditions. This incentive appears to be missing from the 2024 package.

This strategic move by GM underscores the challenges automakers face in an era where demand for high-performance vehicles often outpaces supply. By laying down these ownership conditions, GM aims to prioritize genuine enthusiasts over opportunistic profiteers, ensuring that their vehicles find homes with those who truly appreciate their engineering marvels.

Source: GM Authority

Great! Next, complete checkout for full access to Motorious.
Welcome back! You've successfully signed in.
You've successfully subscribed to Motorious.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info has been updated.
Your billing was not updated.