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What should I do with my 2nd reservation?

Discussion in 'Reserving, Ordering, Production, Delivery' started by Steven, Sep 26, 2016.

More threads by Steven
  1. Steven

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    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.
     
  2. TrevP

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    @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.
     
  3. Steven

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    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.
     
  4. BigBri

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    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.
     
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  5. teslaliving

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    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.
     
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  6. MelindaV

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    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.
     
  7. Jamaicaman

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    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.
     
  8. Steven

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    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.
     
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