Chevrolet Limits Warranties, Offering $5000 Reward
With 2023 Z06 Corvettes continuing to make their way to the streets, Chevrolet & GM are cracking down on those who are only in it to resell their new high demand vehicles. In an effort to deter C8 owners from flipping the new Z06 Chevrolet is offering a $5000 incentive to all who retain ownership of the vehicle for more than one year in addition to a 12 month warranty transferability restriction and indefinite ban from preordering of future GM vehicles.
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.
These moves certainly are drastic, and are designed to be exactly that. Chevrolet's primary concern is having vehicles resold at inflated prices by unauthorized individuals, a practice that often results in a purchasing experience that does not meet GM's quality standards. While there will always be those who slip through the deterrent's cracks, Chevrolet & GM are confident this move will be effective in policing issues that have plagued previous model releases, ensuring the best experience for their customers.
It's safe to say Chevrolet isn't messing around. When dealing with a lifestyle brand such as Corvette, it's important that the long time, loyal customers are taken care of and given the best ownership experience possible, not to mention lowered prices. It's clear Chevrolet wants to treat their customers right.
We want to know what you think! Does the incentive program excite you? Let us know your thoughts in the comments below!
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14 comments
Great idea, my 2021 Corvette turned one year old this Month. Would love to trade it in on a 23 Z06. For sure no dealership will sell for real MRSP.
Just the ZO6, or any new C8?
This is a good idea but 5k is not enough. I have a 2021 C8 @ i was going to order the Z06 3lt conv.
Price 127k plus with options i wanted price 158k. Dealer called me and said i could order Z06. I asked what dealer markup on car will be. HE SAID 50K. WOW
NOW 208K +TAX & LIC. With dealer markups you will lose many buyers.
I will keep my 2021 3lt conv.
What greed so sad!!
This incentive excites me? No it doesn’t. What does excite me, but in a negative way, is how the dealership that has my deposit on a Z06 wants to tag me with a $60K above MSRP price tag, and even higher if his allotment numbers go lower than he expects. It is sad that a Corvette enthusiast like me, who personally now owns 6 Corvettes from C1 on up, is being spanked by the dealership and left no choice but to contemplate getting off the list due to greed and outright gouging. It is sad that this is happening to a phenomenal brand like this.
This is certainly a positive move by GM. A lot of GM dealers have been taking advantage of the consumer, and have been marking up these vehicles 20k to 30k over MSRP. A lot of the guys in my Corvette club have walked away from buying the Z06 for just this reason. GM North American President sent out a letter to dealerships advising them not to mark these vehicles up while trying to avoid price gouging the consumer and taking advantage of the huge demand for the Z06. And those who are lucky enough to purchase a C8 Z06 solely for the purpose of flipping it to make a huge profit in an already over inflated price market have only one thing in mind, and that is greed! If a vehicle has an MSRP, it should be honored, regardless of what the demand is.