How does this “flipping” thing work?

[Larry]

Not saying I’d do it but I’m curious. I have a friend with a Hummer EV due any time now. He’s telling about people offering insane amounts for it.
Is that even legal? What is the process? You take delivery and then turn around and sell it as used? Take delivery but title it to somebody else?
Seems a little slimy but I might not be rich enough to say no.

 

[LLninja]

As Father Guido Sarduchi (classic SNL character) says: buy and sell for more.

It's legal as you own the vehicle and there's nothing wrong with you selling it. But GM has warned that they might void the manufacturers warranty on any flipped highly sought-after vehicles. I think I read they did the same thing when the early C8 Vettes were released. This is to dissuade buyers from buying, but if you are rich enough to offer $250k for a new Hummer that cost $120k, the lack of a warranty probably doesn't bother you. Some of this is to be the first one on the block with a unique vehicle for street cred. I think I'd rather keep the vehicle (if I had one) and get all the cred for myself (not that anyone is watching me).

Check out some of the insane prices for Rivians, F150 Lightnings, and Hummers on CarsAndBids.com

You can scroll down and find completed auctions for more data. It seems like the demand for the new Bronco is waning as supplies are starting to fill the demand.