The C8 Corvette Z06 is a hugely desirable vehicle, offering insane mid-engine performance and aggressive, attention-grabbing styling. Unsurprisingly, some folks have attempted to resell their C8 Corvette Z06 shortly after taking delivery for hugely inflated prices, a practice known as “flipping.” GM has taken steps to curb this practice, and now, The General has laid out related ownership requirements for the 2024 Corvette Z06.
New 2024 Corvette Z06 buyers will be required to sign a document that outlines the ownership requirements intended to stop folks from flipping their new sport car. The requirements state that if a new 2024 Corvette Z06 owner decides to sell or otherwise transfer ownership of their vehicle within six months of taking delivery, they will be ineligible to make a vehicle reservation or place a sold order with a dealer for future high-demand models, as identified by GM. That includes future Chevy Corvettes, as well as non-Corvette models. In addition, the 2024 Corvette Z06’s bumper-to-bumper, powertrain, sheet metal, tire, and accessory coverages under GM’s new vehicle limited warranty will be voided.
The agreement goes on to state that if a new 2024 Corvette Z06 owner does decide to sell their vehicle within six months of taking ownership, they will be required to communicate the loss of warranty coverage to the transferee. However, GM stipulates that the terms do not impact product recalls.
As GM Authority covered last year, GM laid out similar ownership requirements for the 2023 Corvette Z06, as well as the Cadillac Escalade-V and GMC Hummer EV, all vehicles which are considered to be highly sought after and potential targets for flipping. Originally, GM set the ownership requirement at 12 months, but later reduced the requirement to 6 months. In addition, GM offered 2023 Corvette Z06 owners who met the ownership requirements 500,000 My Chevrolet Rewards points, a $5,000 value. It seems as though the rewards points are no longer offered to those customers who meet the ownership requirements for the 2024 Corvette Z06.