Whenever a high-dollar, low-allocation sports car is released (think Porsche 911 GT3), there are countless deep-pocketed flippers that follow. They snag early production builds and immediately sell them for huge profits on auction sites that rhyme with "ring a tailor." However, GM doesn't want its exciting new Corvette Z06 to fall into such hands, so it's offering Z06 customers $5,000 worth of rewards points if they keep their car for 12 months.
As first reported by Corvette Blogger, emails were sent out to all customers on the Z06 waitlist, informing them of the 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 confirmed the legitimacy of the program to The Drive.
Those rewards points aren't exactly cash but, as noted, they can be redeemed for payments, accessories, parts, service, and OnStar. While that's cool and all, I have a feeling flippers that stand to make potentially tens of thousands of dollars aren't going to be deterred by some free services at the dealership. Instead, this will likely only be an added bonus for customers who already plan on keeping their car.
At the moment, it's unclear how many customers will be able to take advantage of this program; we also don't know how long it might last. The email from GM starts with "For a limited time," so it's possible that only first-year customers can get the rewards points. After that, flippers may not be as much of a problem anyway.
It's good to see GM doing something about the flippers, at least. Potential customers who actually want to buy and drive cars like the Z06 lose out on getting an allocation because too many others with money on their minds get to them first. Now, let's just hope the dealers don't make an even bigger mess of things.
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