Leasing a tesla to flip is/was incredibly foolish. It’s a bank without much of a track record and could be completely unpredictable when it comes to selling to third parties.
Well it worked out great for me a handful of times. Leasing allows you to avoid paying sales tax.
so does living in NJ.
You’re right… I should have just moved. Would have been way easier.
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I think… alot of the people who were flipping through leases bought in at a much lower MSRP, not having original intentions to exit early, but are now looking at the equity as a way to upgrade to the LR or P.
A Tesla lease has never been considered the best way to take advantage of the TCO benefits of Tesla resale. Even most on this forum would (probably) agree to that. I think anyone intentionally buying to flip would have financed (traditional or ballon) or used cash.
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We ordered an SR+ before the two recent price increases with an expected delivery of April. Just found out that it has a VIN and is just about ready for delivery. What is the process to put it on hold? Just tell them we don’t want it yet?
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Here is the general guidance:
Once you get a VIN, you can delay one time and maintain price when ordered. There is no guarantee on when the next unit will be available, could be shortly, or could be end of queue. If you are allocated a VIN a second time, you must accept, or your order will be cancelled. You will need to try and negotiate the delay length you want with your SA.
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Depends on the period of time that you were holding it. With an “immediate” flip, in many states starting with a lease was cost advantageous. The “break even” point for me in Florida was right around 1 year of holding, not to mention the lower cash flow on a lease.
Even with CA taxes - it’s still somewhat profitable to flip them but you have to get a base base model. Paint/wheel/FSD has almost no resale value.
Here are some of the latest quotes I have for Base cars with 2k miles:
- Model Y LR. : $66,570.00
- Model 3 SR+: $49,824.00
- Model 3 LR. : $57,477.00
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Does MMR data show color?
yes it does.
And there’s no difference in valuation?
typically, white and black sell better. the premium for paint option and/or wheels isnt worth it.
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Here is how Manheim is adjusting MMR for colors on a 21 M3 LR
White +70
Black -60
Red -60
Silver/Gray -440
Blue -190
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Holy cow - premium upfront - discount at trade in.
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Very typical for tech products too. iPhones with upgraded storage get the same trade in value as base storage. Same for Macs, apple trade in never really values dedicated graphics or increased SSD/RAM. You have to sell private if you want to recoup the value of these adds.
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Where are these quotes from?
Kind of like a manual transmission in many enthusiast cars. Maybe not with auction sales and dealer trades, but it definitely seems that way with private party sales.
I’m looking to try to do a quick flip on a M3 SR+ in blue that expect to take delivery of end of this month or next month for about 43k (based on giving up NJ 5k chargeup rebate, and no sales tax).
Question is if Tesla will allow paying off the balance when buying in cash through credit card, and if so if it can be split up on multiple credit cards due to various signup and other bonuses am trying to receive?
Nope:
-Final Balance is due at your delivery date. Preferred payment methods include “PLAID” 24-48 hours before delivery, or with a Cashier’s/Certified/Banker’s Check (Made Payable to Tesla Inc.) Presented at Delivery.
We do not accept Credit Cards, Personal Checks, Money Orders, or Cash