I have an April 1 reservation, but may need to cancel or seriously delay the order, because we only have street parking available, and not consistently in the same spot, but really like where we live in general. We may move, but not because of a car!
Anyone else in this situation and have any specific plans? I thought about getting a 2nd reservation, in case I wish to cancel the first and stretch out my purchase date, but from the original agreement, it sounds like I can cancel the first up until I make an official Purchase Agreement. Not really looking to sell, at least not yet.
I do think based on the initial reviews and impressions, this will be incredibly hot or result in lots of cancellations.
You could switch your reservation to AWD and that should give you a year to consider your options. If it turns out the early deliveries can be flipped for $10k profit (reasonable considering the tax credit plus people willing to pay to jump in front of the line), you could switch back to a RWD and just flip the car. If that possibility doesnât exist, you could just wait and see with the AWD reservation (you donât need to actually buy AWD, it just gives you longer to decide).
Iâm thinking about getting a second reservation now. I really want AWD, but not if it increases costs by about $10k (partial loss of tax credit plus cost of AWD). If flipping for $10k is possible, I would flip an RWD with my early reservation the second reservation to get AWD in 2019. The production bottleneck will only be temporary, which means the possibility to profit from it is also temporary.
I made my reservation June 4, 2016 (to correspond with NBA finals) and am willing to give one up. This will not be a day one reservation, though, but maybe in the hundred thousands so delivery in September/October. For the one I am keeping, probably white and most likely the longer range battery since I occasionally do Lyfting on days off and this would be essential for that.
Hopefully, AWD becomes available before $7,500 tax credit gets reduced. Selling one of the reservation to help pay for AWD is not a bad idea. I may consider it too.
You could, but I would be using it for personal driving as well, and am not going to quit my day job to do Lyft full time. I wonder if the net cost would be much different than my Mazda 3, though. Since a Tesla 3 starts out more expensive, depreciation costs more per mile and can override the gas savings. While my Mazda 3 could probably be driven for decades without issue (I drove an Acura TSX for a decade until it was totaled in a rear end crash) the Tesla would be more like an iPhone, where it becomes pretty worthless in ten years, even with Elonâs upgrades, because there will be new technology which would be impossible to update software for. Obviously a Tesla 3 provides a more luxurious experience for myself and my passengers, and provides bells and whistles my Mazda doesnât, but total TCO per mile is still going to be on par or slightly cheaper than a luxury car, and not comparable to a Crown Vic.
Agree. Your customers will enjoy Model 3 much better than Mazda 3. Glass roof will make it a good experience for passengers. My friend has Mazda 3. Itâs not a very comfortable car as a backseat passenger and doesnât have much of legroom in the back.
I read that once they send you the email that is your chance to build. That doesnât mean you have to build at that time though.
So:
Line 1) Spot to build & go into Line 2
Line 2) Production - Once you order it they produce it, you donât go back into Line 1 if you choose not to build right away.
There is no way to get repeat customers since customers are automatically assigned to the nearest driver. There might be customers hoping to get you again, but they canât specifically reserve you.
On the other hand, the Model 3 might qualify for Lyftâs premium service (for drivers of higher end vehicles, not the service where the driver has a commercial taxi license). You could then charge more and make more even though the per mile cost might be lower.
You absolutely could, but it possibly isnât the best deduction you could use. With cars you can deduct actual costs or a mileage rate ($0.535 in 2017). If you go the actual costs route, it would need to be prorated based on the percent of business use. Using the mileage rate you deduct that much per mile driven for business use.
The Model X is an interesting vehicle for deduction purposes because its gross weight makes it qualify as a heavy truck. I think it is the only passenger car/SUV that qualifies. This deduction is for vehicles weighing more than 6,000 pounds and provides a $25,000 deduction when used for business purposes.
I am kind of disappointed that Tesla is having a bottleneck issue and have produced less than 300 cars. I hope they can cranked it up soon so that I can get Model 3 in 2017.
I have a day 1 reservation and itâs looking like we probably wonât want the car, in the end. Not certain yet.
But if we donât want it, anyone know how hard it is to sell just the reservation? I got the impression that it was pretty hard.
So if I just find someone who wants to spec and buy the car from me, I can do it that way also, but theyâd have to pay sales tax, right? In CA, thatâll add 10%.
Wow! 10% is lot! But you get CA EV tax creditâŚso that will make up high car tax.
You wonât be able to simply sell your reservation to another person (Tesla may make exceptions but donât know exactly what they are). Most likely, you will need to purchase car from Tesla and pay your car tax before you can sell Model 3.
How much are you going to charge on top of your car price? From other blogs, I hear that itâs going to be minimum $10,000 or higher depending where you are on the wait list.
I am both disappointing and happy. To look on the bright side, it is possible they might not hit 200k deliveries in the US in Q1 as expected. Their FY17 numbers through Sept appear to be around 140k US deliveries. That means the full $7,500 rebate may be available in Q3 FY18. That makes the AWD option more appealing if I can still get it in Q3.
More realistically, it might push out all dates, so I would still be looking at Q4 (or Q1 FY19) AWD delivery at half the rebate, or RWD with full rebate in Q2 FY18.
Pretty simple. You buy car. You pay CA sales tax. You get CA and Fed tax credits. You sell car. Buyer gets car, pays to register car (sales/use tax) in their state, and gets no credits.
If you can sell the car for more than your cost after taxes and credits, you make money.
Right, but Iâve got to find the person ahead of time, order what they want, lock them in, front the cash, expect the tax credit, insure the car briefly, and then sell it and deal with all that.
Correct on all of the other points, but possibly not with this one. You probably get 30 day retroactive grace period to buy insurance after getting a new vehicle. If you can flip the car in that time, no new insurance required. If an accident occurs, then get the insurance and you are covered retroactively.
Source: when we bought our last new car (2015 model) we bought it around the holidays/weekend and our insurance agent was close and we werenât able to process it online. So I searched about what to do in that situation because I didnât want to drive a new car home without insurance. That is when I discovered that if you have an existing car insurance policy, you have 30 days to add a new car to that policy from the date you acquired that car and it is retroactive to when you acquired the car. Our auto insurance is with PEMCO if it makes a difference.
PS: You could probably place the order without finding a buyer (although finding a buyer in advance would be safer). The number of options you can choose is extremely limited, particularly for the first batch of cars. You essentially only have two choices (1) color and (2) wheels. Premium/non-premium and Range options are fixed for the first batch of cars (must be long range edition and must have the premium package). The other options are all software which can be added later, so you could err on the side of caution and not get them.
If planning to flip and you donât have a buyer lined up, I would probably get the standard black ($0) or currently popular white ($1000) if in a hot/sunny climate and the standard aero wheels ($0). Note: for personal use, I wouldnât get the black or white, but those would probably be easier to flip without losing any money on the paint color selection.
Itâs not easy as it sounds. There has to be a trust between buyer and seller. And make sure to collect non- refundable deposit to lock in. Also, need to find out how many days you have to own your car to qualify for tax credit.