Photo: Chevrolet
GM is trying to curb reselling of their most in-demand vehicles, such as the Chevy Corvette Z06, by voiding the car’s warranty if sold less than a year after the purchase. The dealers have recently received new guidance, including a form to be signed by the new owners at delivery time.
GM made waves a week ago when GM’s North America President Steve Carlisle announced the “limiting [of] the transferability of certain warranties and barring the seller from placing future sold orders or reservations for certain high demand models.” Many people wondered if the memo that Carlisle sent to dealers was ever sanctioned by the legal department. In an email to dealers, clarifications came from Scott Wood, Vice-President, Chevrolet.
According to the email seen by midenginecorvetteforum.com, the customers would have to sign a “customer acknowledgment form explaining what happens if they do not keep their Z06 for 12 months. The dealers will have all the 2023 Corvette Z06 customers sign the acknowledgment form at delivery time. They will also have to make sure the customers understand what will happen if they do not retain the vehicle for the required 12 months.
“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,” writes the form. “The Bumper-To-Power, Powertrain, Sheet Metal, Tire, and Accessory Coverage under GM’s New Vehicle Limited Warranty will be voided. You will not be eligible to receive the exclusive Z06 award of 500,000 My Chevy Rewards points (a $5,000 value).”
The same form forces customers who sell the Chevrolet Corvette Z06 within the first 12 months from purchase to communicate the loss of warranty coverage to the transferee. We’re not sure how this can be enforced or verified, but in theory, GM could have the new owners sue the flippers for not telling them about the loss of warranty. We’re not legal experts here, so we don’t know if this warranty-void provision would stand in court if challenged.
According to the email seen by midenginecorvetteforum.com, the customers would have to sign a “customer acknowledgment form explaining what happens if they do not keep their Z06 for 12 months. The dealers will have all the 2023 Corvette Z06 customers sign the acknowledgment form at delivery time. They will also have to make sure the customers understand what will happen if they do not retain the vehicle for the required 12 months.
“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,” writes the form. “The Bumper-To-Power, Powertrain, Sheet Metal, Tire, and Accessory Coverage under GM’s New Vehicle Limited Warranty will be voided. You will not be eligible to receive the exclusive Z06 award of 500,000 My Chevy Rewards points (a $5,000 value).”
The same form forces customers who sell the Chevrolet Corvette Z06 within the first 12 months from purchase to communicate the loss of warranty coverage to the transferee. We’re not sure how this can be enforced or verified, but in theory, GM could have the new owners sue the flippers for not telling them about the loss of warranty. We’re not legal experts here, so we don’t know if this warranty-void provision would stand in court if challenged.
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