What should I do with my 2nd reservation?

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Steven

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#1
When the reveal happened and online reservations opened up, I grabbed two spots as soon as I could. I realize all the people that had a store available to them are ahead of me, but I'm pretty much as "at the front of the line" as I can be for online. I went with two because... I don't know, it seemed smart at the time. I didn't mind tying up $2k in case I needed the 2nd one.

But now I can't really see any chance at all that my family is going to need the 2nd one.

I'm on the West Coast (Canada), and I understand that means getting it earlier than those on the East.

I see my options as follows:

  1. Just cancel
  2. Find a friend (I have a few people that expressed casual "i'll take it" interest but I don't know if any are serious)
  3. "Sell" my reservation, perhaps to an East Coaster that wants one faster? Is that even possible?
  4. Take the car on speculation.
I'm sure I'm not the only one in this situation and was curious what others' thoughts were. I'm leaning mostly to just cancelling at freeing up the grand.
 

TrevP

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#2
@Steven reservations are non-transferable so you can't give or sell it to someone else. Since it's just a reservation and not a commitment to buy you can request a refund anytime however if you're not desperate for the money maybe you should hold onto it just in case.

While you can't sell the reservation you could still order the car, buy it and sell it to someone else who can't wait (east coaster). You might make some money in the process but that's not a given especially if Tesla does indeed ramp up production quickly.
 

Steven

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#3
I'm thinking "non-tranferable" is about as rock solid of a legal term as it is when you can't transfer your Walmart gift card or your McDonald's coupon or your ticket to the hockey game... but you can, of course. Loopholes aplenty in that sort of thing (lawyers love loosely defined terms).

But fine, let's say that's not an option.

I think what I'd do is have a contract in place prior to delivery and, failing that, just cancel. Let's the other guys get theirs one car soon :) I'll hold on to the reservation and make it a game time decision.
 

BigBri

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#4
It wouldn't surprise me if there was a pretty big market to sell off the 3 for a profit. I betcha when everyone catches on that it'll be an amazing car there will be a lot of people desperate to get one asap.
 

teslaliving

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#5
The tax benefit (should it still exist) will also prove to be a pain with the transfer after you buy the car. You will have to buy it and take delivery then re-sell it.

I thought about buying 2 Model 3s, one stripped for my kid (18) and one loaded for myself, but in the end I only reserved one and plan to get it loaded. She's heading off to college hopefully the aging ICE can get her through those years.
 

MelindaV

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#6
The tax benefit (should it still exist) will also prove to be a pain with the transfer after you buy the car. You will have to buy it and take delivery then re-sell it.

plus I believe the US Fed tax credit includes language that you are taking the credit for a vehicle for your personal use, maybe even something about still being in possession at the end of that tax year....
It may be worth while @Steven to see what requirements the BC incentive has if you do think you will purchase both and sell one.
 

Jamaicaman

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#7
I was almost in the same position! I so wanted to purchase a second reservation! Fortunately I have 3 great kids and trying to decide which kid would get the second Tesla was going to be a huge problem!
However I am with "STEVEN" and would make it a "game time" decision.
I am sure you can use the second $1000 reservation towards paying down the final price of your first configured Model 3.
 

Steven

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#8
plus I believe the US Fed tax credit includes language that you are taking the credit for a vehicle for your personal use, maybe even something about still being in possession at the end of that tax year....
It may be worth while @Steven to see what requirements the BC incentive has if you do think you will purchase both and sell one.
In BC it isn't a tax credit, it is just cash off the price. But it also isn't a huge amount. $5k... if there aren't people willing to pay at least a $5k premium then it is a moot discussion. I suspect there are people that will wish they didn't miss jumping in early and would be willing to pay a premium... but, I'm starting to think it won't be worth the risk.

I will probably simply cancel, after offering it up to my circle of friends in case one of them wants a go at it. I doubt I'll try to use this as a way to make a buck, as I think it is too much risk for too little reward.

I'm also starting to see all the promising offerings that will be available on the market 2 to 5 years after the Model 3. I'm sure others' are seeing it too. That reduces the appeal, particularly to people who weren't eager enough in the first place to put down their $1000. If I wasn't champing at the bit (I've been waiting for a reasonable EV for over a decade) I'd probably wait to see what's there too.
 

Golden Gate

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#11
What in the world do they call themselves? They don't allow test drives and can't answer basic questions about wheel size, and they don't serve as a vehicle delivery or repair service, so I guess not a dealer... showroom? Museum?
 

Steven

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#12
Per our local Tesla dealer, you actually ARE allowed to transfer it, but you are not allowed to sell the reservation or profit from it. How they enforce the latter is unknown, but the former is a fact.
What is your basis for this being "fact"? That's the first I've ever read or heard that suggests we are, in fact, allowed to transfer our non-transferable reservations.

They [...] can't answer basic questions about wheel size
They being the same people that brought you the above "fact"? :)

One dude in a single "dealership" (I'm fine with the word, just like I'm fine with people calling the accelerator a "gas pedal") does not a "fact" make. But if you have some information to share, by all means.
 

Maevra

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#13
What in the world do they call themselves? They don't allow test drives and can't answer basic questions about wheel size, and they don't serve as a vehicle delivery or repair service, so I guess not a dealer... showroom? Museum?
It’s called a showroom or gallery. Sometimes the showrooms are attached to a service center but very rarely.

Also, they do offer test drives in areas where it is allowed, but are prohibited from doing so due to local laws in some states.
 
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Maevra

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#14
What is your basis for this being "fact"? That's the first I've ever read or heard that suggests we are, in fact, allowed to transfer our non-transferable reservations.

They being the same people that brought you the above "fact"? :)

One dude in a single "dealership" (I'm fine with the word, just like I'm fine with people calling the accelerator a "gas pedal") does not a "fact" make. But if you have some information to share, by all means.
The easy way to “transfer” a reservation is for the original reservation holder to configure the car under their Tesla account but register it under the other person’s name. Only AFTER the car is delivered will the car be transferred from one Tesla account to another via an ownership transfer request.

There are some stories of family members transferring their reservations between each other to take advantage of the S/X owner priority perk. Can‘t find an actual example/source on forums right now so can’t say that’s actually worked. Outright selling of reservations is prohibited.
 

LUXMAN

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#15
The easy way to “transfer” a reservation is for the original reservation holder to configure the car under their Tesla account but register it under the other person’s name. Only AFTER the car is delivered will the car be transferred from one Tesla account to another via an ownership transfer request.

There are some stories of family members transferring their reservations between each other to take advantage of the S/X owner priority perk. Can‘t find an actual example/source on forums right now so can’t say that’s actually worked. Outright selling of reservations is prohibited.
If you have someone who wants to use your reservation, the easiest way is as @Maevra says. Let them configure the car in your Tesla Account and they can enter all their info and use their CC for the $2500. (this will change the CC on your account to the one used, but you can change that back without affecting the transaction). The car will be registered in their name and all the paperwork, but expect to get the call from the ISA first and you will have to direct them to your "friend", but they will contact them after that. After the pickup of the car, they will have to contact Tesla via the 800 number to have the account switched. It is taking about a week now. The process was longer before and if you took the car in for service or called about anything before the switch, based off the VIN, they would pull the name of the reservation owner vs the registered owner outta the database and then you would have to explain "I am the registered owner but used my buddys/relatives reservation and waiting for Tesla to transfer to my account...yada yada"
Just make sure you get your $1000 back ;)
 

LUXMAN

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#16
That brings me to my second reservation....
I am uncertain what to do....
1) Refund?
2) Asked my buddy and he wants to wait for his own reservation from 4/1 to come through and SR battery so no one else to use it.
3) Let it sit, but for what?
 

MelindaV

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#17
That brings me to my second reservation....
I am uncertain what to do....
1) Refund?
2) Asked my buddy and he wants to wait for his own reservation from 4/1 to come through and SR battery so no one else to use it.
3) Let it sit, but for what?
4) 2 were originally reserved because..... ?
 

LUXMAN

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#18
4) 2 were originally reserved because..... ?
I used a relatives (S and X owner) reservation to get mine a little early (a couple weeks at best it turned out), so I still have my original reservation ready to configure

Thinking I will just get a refund today
 

LUXMAN

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#19
Well, funny I was thinking about this....an unplanned expense came up and so I went ahead and canceled it....then ELON tweets about the Dual Motor and performance versions available to configure next week!

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