Corvette Z06 Forum banner

1 - 17 of 17 Posts

·
Registered
Joined
·
86 Posts
Discussion Starter #1
I realize that not everyone is familiar with GMO and/or GMS however I just spoke with a reliable source (my son) who works for a GM affiliate and who is entitled to either offer for employees. He informed me that GMO and GMS were available (last week) on the Z06. This week GM has reneged on GMO on the Corvette but is still offering GMS (in stock). I checked with my dealer (a very small operation) and he has 2 allocations for Z06. He is now willing to let me have one of the 2 and will order a 2002 Z06 as one of them and sell it to me at GMS price.
This is what I attempted to do when I ordered my 2001 Z06 but GM would not allow it and the dealer said that even if they did offer it, he would not honor it; now he has changed his mind.
Nevertheless.....my question is to those of you that are lucky enough to own and/or driven a 2002 and can compare it to the 2001. Car for car...is it worth the wait and is there really that much of a difference?
I would, most likely, simply give the dealer my 2001 and drive away with the 2002 without a penny out of my pocket; the dealer wins again even with GMS. My son would be charged the sales tax through his company which I would reimburse to him since it would be my car.
I never bought the car as an investment...just enjoyment and a mid-life crisis. It is in pristine condition.
I am not a big fan of the heads-up display but a few extra horses under the hood might be nice if one can really feel them.
Opinions please!!!
Regards,
Z ZERO 6
 

·
Registered
Joined
·
1,406 Posts
ZZERO6 said:
I realize that not everyone is familiar with GMO and/or GMS however I just spoke with a reliable source (my son) who works for a GM affiliate and who is entitled to either offer for employees. He informed me that GMO and GMS were available (last week) on the Z06. This week GM has reneged on GMO on the Corvette but is still offering GMS (in stock). I checked with my dealer (a very small operation) and he has 2 allocations for Z06. He is now willing to let me have one of the 2 and will order a 2002 Z06 as one of them and sell it to me at GMS price.
This is what I attempted to do when I ordered my 2001 Z06 but GM would not allow it and the dealer said that even if they did offer it, he would not honor it; now he has changed his mind.
Nevertheless.....my question is to those of you that are lucky enough to own and/or driven a 2002 and can compare it to the 2001. Car for car...is it worth the wait and is there really that much of a difference?
I would, most likely, simply give the dealer my 2001 and drive away with the 2002 without a penny out of my pocket; the dealer wins again even with GMS. My son would be charged the sales tax through his company which I would reimburse to him since it would be my car.
I never bought the car as an investment...just enjoyment and a mid-life crisis. It is in pristine condition.
I am not a big fan of the heads-up display but a few extra horses under the hood might be nice if one can really feel them.
Opinions please!!!
Regards,
Z ZERO 6
I don't think Corvettes have been GMO since 1996, but I could be wrong. I'm not certain, but I don't think suppliers can use GMO at all, only qualified employees..

GMS is ALWAYS up to the discretion of the selling dealer to participate or not participate in the program. The dealer owns the car and it's up to the dealer to sell it for what he chooses.
 
H

·
Guest
Joined
·
0 Posts
It may not show in our initial dyno session, but get the 2002. I have driven over 10 different 01s, and I can tell you the difference is bigtime!

The performance and handling Smokes everything on the road.

I keep referring to the Car & Driver article, but they are not very Corvette positive folks, but in this months shootout, the STOCK 2002 beat every car at the shootout in the road course time, even the Lingenfelter 650 TT and the Mallet 6.2 liter SC!

In fact, the stocker tied the Mallet in 1/4 mile e.t. even though the Mallet had cheater slicks!

The driver had something to do with the results, though.

What do you think 1fastdog?

Jim Hall
 

·
Registered
Joined
·
1,406 Posts
Halltech said:
It may not show in our initial dyno session, but get the 2002. I have driven over 10 different 01s, and I can tell you the difference is bigtime!

The performance and handling Smokes everything on the road.

I keep referring to the Car & Driver article, but they are not very Corvette positive folks, but in this months shootout, the STOCK 2002 beat every car at the shootout in the road course time, even the Lingenfelter 650 TT and the Mallet 6.2 liter SC!

In fact, the stocker tied the Mallet in 1/4 mile e.t. even though the Mallet had cheater slicks!

The driver had something to do with the results, though.

What do you think 1fastdog?

Jim Hall
I think the '02 has real power advantage to an '01. If that's important then it's important.

I have driven both, the '02 feels stronger in a noticable way.

Both are great, one is a wee bit more of what folks tend to want.
 

·
Registered
Joined
·
4,024 Posts
I too have driven them both and the 02 is without question the stronger of the two. I am only able to get into them about half of what the owner will do but even from this I can tell a diff. The biggest diff. is the sound of the car the 02 is just awsome sounding at about 4k rpms and gets better as you go up. The ride is about the same to me but I know the shocks have been tweeked a little. The H/U is a nice option and after you have it for a while you will agree. And at the GMS price their would not be any question on witch one to go for.:D The only thing is if your dealer only has 2 Z06s allocated be ready for a wait on getting it.
 

·
Registered
Joined
·
1,170 Posts
To me this one's a no-brainer. Any time I can trade a used car for a brand new one with more power I'm all for it. I know you said you didn't buy it for an investment, but this move will give you higher resale value, more power, better ride, and a brand new car. Go for it man!!! I'd love to be in your position. :grin:
 

·
Registered
Joined
·
86 Posts
Discussion Starter #7
You are right; it is a no brainer and since I could care less about the wait (I have a nice one to drive while waiting) I will probably go for it. In a way it seems somewhat inane however; I will be trading a 2001 Silver for a 2002 Silver with exactly the same equipment. I did drive a 2002 for a very short time and quite honestly (other than the exhaust note) I could feel no real difference. Nevertheless, to get a 2002 for no + bucks it really does not make sense to pass up an opportunity like this.
Am I looking at delivery in the middle of winter? I really wish that Speedway White was still available!
Best Regards,
Z ZERO 6
 

·
Registered
Joined
·
4,024 Posts
[
I would, most likely, simply give the dealer my 2001 and drive away with the 2002 without a penny out of my pocket; the dealer wins again even with GMS. My son would be charged the sales tax through his company which I would reimburse to him since it would be my car.


Please forgive the question but after thinking about this deal I must be missing something. If the dealer simply swaps keys with you, your 2001 for his 2002 with no money changing hands I don`t see how this will work. First off. The 2002 had a price increse of about $1400.00 even if we look at this increse at GMS cost their would still be about a $1000.00 diff. in the two cars if both were brand new. Now yours is a used 01. At this point the dealer is $1000.00 in the hole unless he puts more in your 01 than the cost of the 02 and that would make no sence. If no money changes hands where does the Tax come from? Something is not right here.:-?
 

·
Registered
Joined
·
1,406 Posts
Re: Re: GMO and GMS/ 2002 vs. 2001

Rick Daniel said:
[

Please forgive the question but after thinking about this deal I must be missing something. If the dealer simply swaps keys with you, your 2001 for his 2002 with no money changing hands I don`t see how this will work. First off. The 2002 had a price increse of about $1400.00 even if we look at this increse at GMS cost their would still be about a $1000.00 diff. in the two cars if both were brand new. Now yours is a used 01. At this point the dealer is $1000.00 in the hole unless he puts more in your 01 than the cost of the 02 and that would make no sence. If no money changes hands where does the Tax come from? Something is not right here.:-?
One very important point is are we talking GMS or Supplier. If it's supplier, it's still as sweet deal but there's more number fiddling room. Lux tax still comes into play I would think. With memo, destination, and supplier money taken into consideration it's still a tight deal compared to selling it to a walkup.

If it's actually true GMS and straight up car for car with no out of pocket it would clearly be a deal not to pass up.

I don't think GMO is possible on Vettes at this point and any ASM in their right mind would audit something like this... so being somehow "clever" wouldn't work. Even if it's a tiny dealer that's strictly DCC.

Either the dealer feels generous enough to give back some of what they made the first time or maybe has a buyer dead set of having an '01 with specific miles.

My advise is take the deal if it is as described. The dealer is seeing an advantage for them that I can't. Maybe someone like wearing a Santa suit:rolleyes:
 

·
Registered
Joined
·
4,024 Posts
Fastdog you are right about the LUX tax it is figured on the selling price of the 02. I still dont see how the dealer comes out on this sale, he has to ACV the 01 for more than the cost of the 02 and with the increse for the 02 this is what makes no sence to me.:(
 

·
Registered
Joined
·
19,096 Posts
ZZER06:

Ask your dealer to show you the invoice. The GMS price, supplier price,and MSRP are right there in black and white.

The dealer does not have to sell an eligible employee or eligible relative a car at GMS. And as best I know, GM does not authorize any delaer to sell Vetts at GMO. GMO is wheret he buyer ORDERS a new Vet, and GMS is where the employee or eligible relative buys out of dealer STOCK.

The difference in price on a new Vet from MSRP compared to GMS is approximatley $7,000!...and that is nothing to sneeze at!

Zippy :) :)
 

·
Registered
Joined
·
251 Posts
well, I'm totally confused...

Maybe that's why he's a small dealer, and from the looks of it,
on track to get even smaller.

The part about son paying taxes.....if son is an EDS employee,
they must pay imputed income taxes on the discount, even
when they are eligible for GMS.

GM does not authorized, or unauthorize GMS,it's purely at
the discretion of the dealer.

:confused:
 

·
Registered
Joined
·
251 Posts
just noticed my registration date, closing out C7's

Just noticed my registration date of 2008.

Like to announce a special closeout sale on remaining
C7's

Remember that GMS now includes next door neighbors and
girls from one-night-stands.
 

·
Registered
Joined
·
86 Posts
Discussion Starter #14
GMS/GMO

The MSRP on the 2002 Z06 is $50,510.00 and the GMS price is $42,775.53; a difference of $7734.47. It is understood regarding the taxes that must be paid by the employee getting the "cert" for a family member; our "family" has done it more times than we can count. Luxury tax and State sales tax is a given.
By the way....GM WAS offering GMO until just a day or so ago for Corvettes and you are correct about finding a dealer to honor it...they will not. I also understand fully the rights of the dealer accepting GMO/GMS ------they are not obligated in any way. When we pay the luxury and State sales taxes, dealers business license tax, processing fee, license and title fees and then the mandatory "employee tax as income" we are still a "plus". As far as the small dealer getting even smaller....that's a cop out. I would assume that this same "small dealer" who sold me my 2001 Z06 at MSRP must have made some $$$. I have the invoice and know exactly what the vehicle cost him. When he allows GMS this time and gives me a good value for my 2001 it becomes a "win-win" situation for both of us. The last time I looked, GM does pay the dealer for the GMS sale (I don't care how little). The only way I would lose is if the dealer found some way to charge me the total of $7734.47 GMS savings. Who cares...it is in writing on a signed sales contract for a car that I want and it will cost me "NOTHING". I was not asking for anyone's understanding of my situation or the "deal"....simply an opinion of the 2001 vs. the 2002 and I appreciate the comments by those of you who answered my question regarding the comparison of the 2 years. Thanks and best regards,
Z ZERO 6
 

·
Registered
Joined
·
1,406 Posts
Re: GMS/GMO

ZZERO6 said:
I want and it will cost me "NOTHING". I was not asking for anyone's understanding of my situation or the "deal"....simply an opinion of the 2001 vs. the 2002 and I appreciate the comments by those of you who answered my question regarding the comparison of the 2 years. Thanks and best regards,
Z ZERO 6
Even if there was zero difference between cars, sidstepping a year of depreciation without financial penalty is a no brainer.

The big hit is year one as far as resale goes. The only cost I can see left out is destination charges. $6xx.00 is paid as well whether it be GMS or GMO... I believe.

I'm sorry you didn't appreciate the aside comments form folks with a little car business knowledge. I don't think offense was meant.

You appear to have a great offer of a deal. I'd take it.
 

·
Registered
Joined
·
86 Posts
Discussion Starter #16
Re: Re: GMS/GMO

1fastdog said:


Even if there was zero difference between cars, sidstepping a year of depreciation without financial penalty is a no brainer.

The big hit is year one as far as resale goes. The only cost I can see left out is destination charges. $6xx.00 is paid as well whether it be GMS or GMO... I believe.

I'm sorry you didn't appreciate the aside comments form folks with a little car business knowledge. I don't think offense was meant.

You appear to have a great offer of a deal. I'd take it.
1fastdog

I really did not take any offense; it always seems that those that do not (or do not want to) understand or believe are those that say "no way". Regardless...I appreciate your comments and advice. By the way..the destination charges are included in the $50,510.00 MSRP. My son just purchased a fully loaded 2001 black convertible with a MSRP of $52,265 (destination included) for $41,191 (not including taxes, destination, etc.). This was a GMS purchase and 3 dealers told him NO GMS before he found the "right dealer" and the right car.
I see people on this forum paying MSRP, those paying MSRP+ and those receiving a discount from different dealers. Some people simply fear (or do not understand) competition. I love my Z06 but not enough to pay MSRP plus dealer mark-up, but I would never criticize those who do...they work for their money (in most cases) the same way I do and have every right to spend it anyway they desire. Heck...I spent MSRP (no discount) less than 1 year ago for my Z06.
Best regards, Z ZERO 6
 

·
Registered
Joined
·
1,406 Posts
Re: Re: Re: GMS/GMO

ZZERO6 said:


By the way..the destination charges are included in the $50,510.00 MSRP.
Yes MSRP includes destination, GMO, and GMS do not. The dealer may well have added it in for you.

As you know, GMO and GMS are below invoice. GM pays the dealer a percentage to compensate the dealer for participating in the program.

I think many were commenting on the deal because the dealer stands to lose money, pure and simple. The dealer has to get $45k for your trade to see any light at the end of the tunnel. You are fortunate they are being accomodating. Usually GMS trade ins are "at the bone" or less.

Nonetheless, congrats on a great opportunity to avoid depreciation.

Best wishes on your deal.
 
1 - 17 of 17 Posts
Top