I ordered a bare bones Tesla Model 3 back in August and it will deliver in November (been pushed back from September). This model right now shows June delivery for orders. I also had the NJ rebate applied on the order.
However, I won’t be needing this Tesla because I decided to go with a Jeep 4xe instead. Hence I feel like there is an opportunity on this Tesla.
Any thoughts on how to profit from this Tesla order? Looking for something easy not too complicated. Just seems like a waste to cancel.
Based on a thread on the TMC forum, you can transfer the reservation to another name within the same state. They would also need your Tesla account which can be given to them at or after delivery.
Since NJ has no sales taxes on EV, you can take delivery essentially for just the cost of registration (in the $300s), and then flip it to the highest bidder among the usual suspects (Carmax, CBUSA, ALGO, GMTV, vroom, etc) or private party.
Yes, if you are taking delivery, you need to pay, either cash or finance. Finance means you have a ding on your score, plus interest fpr as long as you keep the loan + insurance which you’d have to maintain until you officially sell it. You should still have hefty profit, of course.
Obvious risks are damage to the car while it is in your posession, sudden drop in demand (quite unlikely!), extraordinary delays in getting title (less unlikely than drop in demand, but of course a low probability event)
Thanks for all the replies. I just get nervous because I am putting in the car on Carvana, Algo, etc. without VIN and getting lower than purchase price. What gives?
We have tried that and it really depends on the SA. If the OP gets a good one, they will help transfer it. If not, they’re out of luck on it.
Also, to note, even buying cash, Tesla may not complete the title paperwork immediately on purchase and could take some time - roughly 30 days. With NJ being tax free for EV, you have a good potential to make some money. There are risks but with the current market & delivery estimates, it seems to tilt more in your favor.
Proof of unsuccessful attempt. But I have confirmed report of at least one individual whose SA was very eager to get their reservation transferred to anyone they wanted to.
Could you possibly try to delay it till the new year when federal 8k might kick in.
I’m in similar boat also from NJ and ordered based M3 SR+ right before the rebate cutoff in September in speculation that taking delivery in 2022 will have the fed rebate applied.
I’m also debating whether to take the car anyway even if the fed rebate does not fall through and try to flip it quickly which means surrendering the 5k nj rebate as well but possibly making a few grand on the car that I locked in at 39.9k + 1k for blue paint then the other fees.
I thought I read somewhere that tax credits can be retroactively applied if bought after May 2021 (I think). Maybe someone can clarify. Or maybe it’s just wishful thinking. My build date went from January/February to December 26-31. Another Tesla end of quarter push lol
One of the two bills included retroactive tax credits. The other did not. Neither have passed and there’s no word what the final bill that gets voted on, if that ever even happens, will say.
I would be shocked to see it be retroactive. It really makes no sense for it to be, as if the motivation is to drive ev sales, paying back people that already bought doesn’t do that.