flipper definition
Thread Starter
Team Owner
Joined: Aug 2012
Posts: 33,478
Likes: 273
From: resting comfortably in my mind
St. Jude Donor '14
flipper definition
so gm says hold the car for 6 months to get the bonus bucks for not flipping. what do you consider a flipper, is 6 months and a day ok? 7 months, 2 years?
Racer
Joined: Aug 2004
Posts: 370
Likes: 415
From: Los Angeles CA
Actually, that's incorrect. GM specifically notes that dolphins can flip their cars in less than 6 months without their warranty being voided. It's a double-flip when a flipper does a flip--the two flips cancel each other out. The same logic would seem to apply to gymnasts but GM refuses to make an official statement on that.
In response to the OP, it's tough for me to say. Maybe the person had intended to keep the car but then needed to sell it. Or maybe they just like to enjoy cars for brief periods of time and then move onto the next one. It's all about intent. If the person buys it purely to sell, then that's a flipper. I'd say the best way would be to see the mileage. If a car comes up for sale after 6 months with delivery miles on it, then that's almost DEFINITELY a flipper.
In response to the OP, it's tough for me to say. Maybe the person had intended to keep the car but then needed to sell it. Or maybe they just like to enjoy cars for brief periods of time and then move onto the next one. It's all about intent. If the person buys it purely to sell, then that's a flipper. I'd say the best way would be to see the mileage. If a car comes up for sale after 6 months with delivery miles on it, then that's almost DEFINITELY a flipper.
Drifting
Joined: Oct 2013
Posts: 1,746
Likes: 1,300
From: Fort McMurray Alberta
2018 C7 of Year Finalist
I'd say personally, if the car is held for 6+ months and is past its initial break in period, that's no longer a flip. Thats my metric, everyone will have their own.
Drifting
Joined: Jul 2006
Posts: 1,910
Likes: 2,694
In my opinion, there is no time frame, it's intent.
If someone's main purpose is to buy and resell for a profit, then they are a flipper. So really in terms of how long someone holds a car before they sell it, in the words of an infamous one... "what difference does it make?".
If someone's main purpose is to buy and resell for a profit, then they are a flipper. So really in terms of how long someone holds a car before they sell it, in the words of an infamous one... "what difference does it make?".
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Melting Slicks
Joined: May 2006
Posts: 2,820
Likes: 216
From: Deep in the Heart, TX
I agree that a “flipper” is based on intention. Ford tried to prevent this by putting a 24 month no-sale clause on the new Ford GT and personally hand selecting people they felt would best represent the brand. Part of that was to not flip the car. But, sure enough people encapsulated them at 8 odometer miles for 2 year and sold them the moment they could. So, time doesn’t matter.
Personally, I don’t like it, but I do understand it. I just wish they did was Ford did, by making sure the sale was at MSRP and didn’t allow the dealers to add a mark up
Personally, I don’t like it, but I do understand it. I just wish they did was Ford did, by making sure the sale was at MSRP and didn’t allow the dealers to add a mark up
Race Director
Joined: Jul 2007
Posts: 10,961
Likes: 2,643
From: Texas Hill Country
I agree with intent. It's when your purchase motivation is to sell.
Markup/pricing economics aside, the negative connotation comes from the fact that the intention is hidden which also makes a flipper a liar.
Currently someone who sells quickly due to other reasons than to flip can benefit from current market conditions purely as a side effect. However, the same early non-flip sell occurs in a different market then they are hurt by those conditions. The flipper doesn't have selling motivation to purchase in the latter market. The non-flipper would have to sell in either market and the result is what the market dictates.
Markup/pricing economics aside, the negative connotation comes from the fact that the intention is hidden which also makes a flipper a liar.
Currently someone who sells quickly due to other reasons than to flip can benefit from current market conditions purely as a side effect. However, the same early non-flip sell occurs in a different market then they are hurt by those conditions. The flipper doesn't have selling motivation to purchase in the latter market. The non-flipper would have to sell in either market and the result is what the market dictates.
Melting Slicks
Joined: Jan 2002
Posts: 3,191
Likes: 1,767
This flip thing will end up in court for someone. GM sees the car has resold in less than 6 months but they don't know why.
You sell the car back to your dealer for same of less money is this a flip?
Your father buys a Z06 and dies the next day so you sell it even at a lost is this a flip?
You give the car to a friend or relative as a gift is this a flip?
Let's face it if I wanted to flip it and make money I can just park it for 6 months collect $5,000 and sell it for a profit. In 6 months there will still be a huge demand for these cars.
I can see people calling GM to justify any legit sales of the car.
You sell the car back to your dealer for same of less money is this a flip?
Your father buys a Z06 and dies the next day so you sell it even at a lost is this a flip?
You give the car to a friend or relative as a gift is this a flip?
Let's face it if I wanted to flip it and make money I can just park it for 6 months collect $5,000 and sell it for a profit. In 6 months there will still be a huge demand for these cars.
I can see people calling GM to justify any legit sales of the car.
Race Director
Joined: Jul 2007
Posts: 10,961
Likes: 2,643
From: Texas Hill Country
This flip thing will end up in court for someone. GM sees the car has resold in less than 6 months but they don't know why.
You sell the car back to your dealer for same of less money is this a flip?
Your father buys a Z06 and dies the next day so you sell it even at a lost is this a flip?
You give the car to a friend or relative as a gift is this a flip?
Let's face it if I wanted to flip it and make money I can just park it for 6 months collect $5,000 and sell it for a profit. In 6 months there will still be a huge demand for these cars.
I can see people calling GM to justify any legit sales of the car.
You sell the car back to your dealer for same of less money is this a flip?
Your father buys a Z06 and dies the next day so you sell it even at a lost is this a flip?
You give the car to a friend or relative as a gift is this a flip?
Let's face it if I wanted to flip it and make money I can just park it for 6 months collect $5,000 and sell it for a profit. In 6 months there will still be a huge demand for these cars.
I can see people calling GM to justify any legit sales of the car.
Melting Slicks
Joined: Oct 2006
Posts: 2,974
Likes: 1,254
There is an "original post" (somewhere) as to how one of the forum participants convinced GM to be more reasonable regarding selling your car.
I believe (if memory serves), you can sell your car after 6 months (which means by any definition, 6 months and one day) with the warranty in tract and no penalty,
I believe (if memory serves), you can sell your car after 6 months (which means by any definition, 6 months and one day) with the warranty in tract and no penalty,
Melting Slicks
Joined: Jan 2002
Posts: 3,191
Likes: 1,767
There is an "original post" (somewhere) as to how one of the forum participants convinced GM to be more reasonable regarding selling your car.
I believe (if memory serves), you can sell your car after 6 months (which means by any definition, 6 months and one day) with the warranty in tract and no penalty,
I believe (if memory serves), you can sell your car after 6 months (which means by any definition, 6 months and one day) with the warranty in tract and no penalty,