Snowwolfe

Their dealership - their rules. Give up the money or walk away

chipking

Some basic math.

1. There were 26,216 Model year 2021 C8 Corvettes manufactured.
2. With the current supplier and chip issues let's say they produce 30K of the 2022 MY?
3. Let's say they get to 35K for the 2023 MY...(highly doubtful) and 25% are Z06 (highly doubtful)...that is 8750 vehicles.
4 There are approximately 3000 of so Chevy dealers in the US. Of course some vehicles will ship out of the country. Let's say Ciocca gets 300 Z06's because they are the largest? That is a six and a half year waiting period...five years
if enough people back out and it drops to 1500.
6. Once again 1500 deposits times $5000 is an interest free loan of $7.5 million...and this is why they are taking so many deposits although they know they
will never meet delivery expectation times.

BrakeFade

Yes, it's an additional $3k deposit by 11/22. I imagine some will drop off, but not a whole helluva lot to make a difference if you're above 800........

Josh M

Even if they really ramped up production a lot you'd still see quite a bit of people flipping the car. I think in general if you get the car in year 1 or 2 you can sell it for a profit or get what you paid for it depending how far down the road you sell it. If they really up production a lot it will probably make flipping a year 3 or 4 a bit more of a risk

Anthony2020

The people who already had the wire instructions had a huge edge. My bank did not have the function of wiring it myself. That was the biggest advantage some of you guys had. Then you got the bank taking their good ole time authentication the wire before it is even sent out.

cj2driver

Asking for that extra 10% is over the top. With $5K in hand they would love if you canceled and bailed, so they could put it in stock with a hefty ADM, even if you ordered it in pepto—bismol pink with **** carpet—the Atlantic City signature edition 😎

Plexoer

Yep, not a very "fair" process IMO.

17Z

Very true. Hindsight but if you had a M&T account I expect the wire transfer would have been seamless or would it still need to go through a clearing house? I thought I heard people say the Stingray deposits with Kerbeck also used M&T. Too little too late.

bobgolub@hotmail.com

I used Wells Fargo. Wire initiated at 1203. Still have no spot. Although I never got a completion notice from WF, the money did leave my account the same day.

GameChanger

@TheFunDoc Uh-oh.... Still waiting for an email. I too bank at US Bank and hadn't seen any other US Bank customers before your post. Submitted my wire order at 12:04 (would have been 12:02, but site froze and had to reload). Got confirmation email at 12:26, just as you did. Was holding out hope that wire was sent immediately and confirmation email was delayed. But now I suspect, given your message, US Bank holds and processes them in batches. Think I may be hosed too....

N6GQ

Ya, sorry, that sucks. I used BofA and mine sent almost immediately - but it could have just as easily been the other way around - knowing how often BofA screws the pooch all of us BofA people probably should be sitting where you are. Luck of the draw I guess, and its a bummer that they decided to use that as the indicator of timing - should have been their own website that ranked the order. Then, if you don't follow up with payment then you lose your number. Would have achieved the same thing but those of us that were on the website and completed their form in the first minute would have our early numbers.

ASTROCREEP

This is coming from TheFunDoc...I'm afraid to see what TheGrumpyDoc would say.

Flashpass

55cts,

I can't find this specific topic unless it's buried in the general thread. Itn would be nice if people would submit new subject when they want to go off initial topic.

Atlantan

They have published the terms for ordering...

"At that time[allocation] an additional deposit will be required, which will be 10% of the MSRP that will display on the factory window sticker, to proceed with the placement of your order. Should you sign the buyer's order and provide the 10% deposit, your monies, including the your refundable deposit, are no longer refundable."

See: https://www.cioccacorvette.com/z06-reservation.htm

Anthony2020

I think some delay could of been for example 12:00 is for many workers LUNCH TIME and those wires just sat while sally fumbled opening a twinky and searching tic Tok

Johnnyrare

looks like we may get cars around the same time! I am 648 with ciocca. lol we will be enjoying together hopefully a late 2024 !

tausc82

Don't think I'd want to be a patient of TheFunDoc anytime soon.

Flashpass

This addition $3,000 deposit request is well before the MSRP is published and before the dealer can submit an 1100 status. What happens if you do not send the $3,000 in by Nov 22nd? Do they automatically send back your initial $2,000 deposit?

mpfcc

Sorry to hear your frustration. I submitted my wire transfer at 12:01 via USAA but it wasn't completed until 1:05. No number yet, but I'm sure it's going to be ugly!

gearcruncher

It's just a theory, but based on the numbers we are seeing today, and the delays over the week, I'm pretty convinced that the email many of us will get next week is "We cut off the reservations at 2,000 and your number would be above that. We will be refunding your money. Please tell us where you want the check sent."

It really makes no sense for Ciocca to manage a list with over 2K reservations if they know that represents 5+ years of likely allocation. It's a pain for everyone involved.