Chevy offering some Corvette buyers thousands not to flip cars for profit

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In this upside-down topsy-turvy timey-wimey car market which is the calendar year 2022, many customers who’ve been fortunate enough to snag a new set of wheels have found themselves in an enviable position: some can immediately sell their new whip for more than they just paid for the thing. Now, it seems General Motors is seeking to curb that activity with the promise of cash.

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Or, more accurately, with Chevrolet Rewards points, which can be used to buy items from a GM-approved catalog. According to several outlets south of the border, qualifying American customers who buy a Corvette Z06 and hang onto it for an entire year will be rewarded with the equivalent of US$5,000 deposited into a My Chevrolet Rewards account. It should be noted that, despite its similar name, this is not the same rewards program tied to GM-affiliated credit cards.

So what can be bought with these points and their financial equivalent? OnStar services apparently, plus items like vehicle accessories or vehicle servicing. It should not go unnoticed that General Motors is doling out money which can only be spent on its services or products; think gift card, but for oil changes and the like. We will point out that if a customer flips their Z06 and makes more than $5,000 on the deal, they are free to spend their newfound cash on whatever they wish.

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This phenomenon crops up from time to time, particularly when limited-run or highly desirable vehicles are first introduced. Recall that Ford tried to enforce a ‘No Sell’ policy for its second-gen GT supercar, requiring buyers to sign away the right of vending the thing before it reached its first birthday. Of course, some didn’t listen – or care – and proceeded to gum up the works by doing exactly that. Pro wrestler John Cena was one of the highest profile cases, but hardly the only one.

Corvette forums, the source for that hero image at the top of this post, have been abuzz with activity about this deal. In typical forum behaviour, there’s plenty of misinformation and wild blustering from basement-dwelling keyboard warriors who know more about their mother’s stale popcorn than they do about Corvettes but – and this is key – the offer of $5,000 in points to American customers is absolutely real. We’ve reached out to our Canadian contacts and will update this post if information relevant to our market is shared.