Flipping your C8

Hey Guys, I sold my C7 two years ago after blowing the engine due to a bad bearing. Purchased a C6 convertible last year and sold it this year due to a stupid offer forma guy that gave me 8 grand more than I paid for it. I just placed my order for a C8 2LT Z51 in ceramic grey from a London dealer and I have seen a few local used car dealers in and around the GTA getting 30-50K over MSRP. My dealer also informed me about the guys that are flipping and was told that they were stopped from ordering a second one. Now as all of us here and this is just my own opinion but if the cash and want to blow it go for it buy this fool does not give his money away.
I am happy to wait for mine. Because of the demand for the C8's the C7's the rest of the corvettes have gone up as well. I did purchase a 2020 mustang GT premium a few months ago for a stop gap till the C8 arrives. I was at a used car dealership a few months ago that has sold over a dozen C8's this year and last year I won't name them just out of respect but there only a few in Ontario that sell a lot of high end cars. This told me that he was picking of a C8 from a customer from a dealership in the GTA and paid the guy 25K over his price and will make 25 for himself as well. The car had 7 km on it with all the plastic still in place. The best part is that he was talking to another customer who had purchased 4 new C8's from this same dealership this year. Bottom line is simple there are dishonest GM dealerships letting this happen and are not held accountable.
 
netsinah said:
I suppose a person paying a dealer $30K over is unlikely to flip the car, given the drastically reduced chance of making a profit. Although you never know: someone from the States could be behind such a purchase and fronting the money so the C8 might still make its way to the US and that will supposedly have the same consequences for this dealer: it will lose a future allocation for each C8 that goes down to the States.

Bottom line IMO: the dealer has found a way to justify making a killing on the sale of a C8. I can't imagine there are happy customers who live around that dealer, that are being shut out and unable to make any order...especially if they've got a history of buying other vehicles from that dealer in the past. I suspect the dealer will lose sales in the long run...so it may be "short-term gain for long-term pain". People have long memories.

As far as I know, almost ALL other dealers in Alberta are still selling them for MSRP and not paranoid about the resale risk, and like mine they're doing their "due diligence" when it comes to buyers, to weed out improper buyers as best they can. And my dealer (and others too, by the sound of it on these Forums) are moving a buyer up on their list when someone bows out, rather than taking the order for the dealership. Thank goodness for the other dealers who will order in a C8 for a customer at MSRP...at least it gives hope you'll get one in the normal course, even if it is at MSRP. I'll always support those dealers.
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I was bumped up from #3 to #2 on the list when that order fell through and the car was purchased at MRSP. I am informed that many dealers are doing this as they are more interested in having relationship with satisfied purchasers since those folks will be likely to have their vehicles serviced at that dealership and may purchase another car due to the good experience. It is there that the money tree grows for dealers, not simply a vehicle sale.

Now on to the original OP’s question. The safest thing to do is to get your deposit back and re-order when able. However, if you think you will be “in the money” before possession date, go for it! Either way, it really doesn’t matter much how I feel…this is something only you can decide.

Happy Motoring!!!
 
DAL said:
I was bumped up from #3 to #2 on the list when that order fell through and the car was purchased at MRSP. I am informed that many dealers are doing this as they are more interested in having relationship with satisfied purchasers since those folks will be likely to have their vehicles serviced at that dealership and may purchase another car due to the good experience. It is there that the money tree grows for dealers, not simply a vehicle sale.

Now on to the original OP’s question. The safest thing to do is to get your deposit back and re-order when able. However, if you think you will be “in the money” before possession date, go for it! Either way, it really doesn’t matter much how I feel…this is something only you can decide.

Happy Motoring!!!
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Correct.

I came from Porsche and was never a GM client until the C8. Just bought a Suburban Z71 today...
 
CamsC8 said:
Correct.

I came from Porsche and was never a GM client until the C8. Just bought a Suburban Z71 today...
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Is it black and do you own a neuralyzer by any chance? ;)
 

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CamsC8 said:
Just a kind public service announcement reminding C8 owners of GMs resale restrictions in place. Noticed a couple of posts on FB where folks only think it's a year.

It's both 1 year ownership and 12k on the odometer that need to be met.
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Hmmm… so what happens when my Z06 is ready to purchase and I don’t have 12k on the clock? If I can get more from a private sale, why not? I guess I’ll have to buy the Z06 and then sell the stingray? This is not my daily and I don’t drive it just for the sake of driving.
How am I suppose to sleep at night for the next 2.5 years with these worries on my mind? 😁😁
 
CamsC8 said:
From what I'm told GM doesn't care...they are trying to control the flipping of cars and potential abuse from dealerships.

Best to check with your dealer...see what they say. Also I'm hearing that dealerships are starting to block sell throughs as well...
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Sorry, what’s a sell through?
 
JohnP said:
Sorry, what’s a sell through?
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Where you find a buyer and in order to retain your tax paid for the purposes of buying another C8, the dealership sells the car to your buyer for a small fee.

E.g.
You sell your car for $99k.
With tax it's $111,870
Instead of receiving a cheque for only $99k you get that and a tax credit (good for a year) for $12,870
 
CamsC8 said:
Where you find a buyer and in order to retain your tax paid for the purposes of buying another C8, the dealership sells the car to your buyer for a small fee.

E.g.
You sell your car for $99k.
With tax it's $111,870
Instead of receiving a cheque for only $99k you get that and a tax credit (good for a year) for $12,870
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It's more commonly referred to as a "convenience trade" in the car business. But, otherwise, spot on.
 
pozi240 said:
It's more commonly referred to as a "convenience trade" in the car business. But, otherwise, spot on.
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Cullen offered to do that with my 2000 Camaro SS, but they'd need to certify it. I sold it "as is" instead.
Not that a C8 needs anything to be certified ...
 
Jack Raccoon! said:
Did you sell it as is because of the lack of a roof and glass?
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I gave that one to the neighbourhood junk yard! I sold both my wife's and mine through Kijiji to unsuspecting fools ... er .. I mean nice people.
 
JohnP said:
Hmmm… so what happens when my Z06 is ready to purchase and I don’t have 12k on the clock? If I can get more from a private sale, why not? I guess I’ll have to buy the Z06 and then sell the stingray? This is not my daily and I don’t drive it just for the sake of driving.
How am I suppose to sleep at night for the next 2.5 years with these worries on my mind? 😁😁
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That method would work as long as that Z06 is the last GM vehicle you ever plan to purchase
 

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