Backing out of order

[Moopwomp]

So I was originally supposed to get my MYP in early March, but the order got pushed back twice, and now my wife and I have decided to buy our first house.
So, after months of obsessively checking this forum, I’m going to cancel my order. Any advice on dealing with the disappointment? I’ve spent so much time thinking about it, accumulating accessories, learning everything about the car… and now I need to sell the accessories at a loss, release my November order that is 4K below current prices, and give up my dream car.
I guess I really just wanted to complain about it, since my wife definitely does not understand.
On the plus side for this forum, there will be a really nice Coverking Stormproof CVC4 cover and Tuxmat 5 seater + cargo area set of mats up for sale soon, both still in packaging. Some other random things too like a noise reduction kit.

I also (stupidly) already paid Tesla 1700 to clear my balance after financing. No idea if they’ll give that back to me.

 

[MMDTX]

What’s your current EDD? Seems you could potentially flip this car for a profit given current values and your order price. If after your closing and you could carry it for a couple months or so, that is.

 

[Yelobird]

Odd story as in your other posts you say you put the car on hold. Not wise to buy accessories for a car that could change. Hope you can sell them or just keep the car which I believe you said was coming May 5.

 

[Gem!ni]

Hmm, you don't think you can delay the order until after closing?

Definitely understand you being bummed out especially with the accessories having been bought. I'm interested in the Tuxmat mats actually.

 

[Moopwomp]

EDD is May 5-15. Waiting until after closing doesn’t really help that much, it’s still a big monthly payment that I shouldn’t be carrying on top of a 7k/month mortgage.
I could try to flip it but with CA taxes it would be tough to break even. A MYP is 75k out the door. Not impossible to get that for it used but I don’t know if I’d sleep well at night holding it.

I suppose if I can’t get my 1700 back from Tesla I might try to flip it.

The hold thing, yeah, I had a hold for a while. Released it in early April.

 

[robeeen]

What about if you downgraded to a MYLR and let it sit? Cheaper, and things could change by the time it came around.

Just a thought.

 

[Lccjblu]

EDD is May 5-15. Waiting until after closing doesn’t really help that much, it’s still a big monthly payment that I shouldn’t be carrying on top of a 7k/month mortgage.
I could try to flip it but with CA taxes it would be tough to break even. A MYP is 75k out the door. Not impossible to get that for it used but I don’t know if I’d sleep well at night holding it.

I suppose if I can’t get my 1700 back from Tesla I might try to flip it.

The hold thing, yeah, I had a hold for a while. Released it in early April.

I’ve wondered what would happen if you edited your design to format MYLR. Would that delay your EDD possibly to the back of the MYLR line (eg 2023)? It would buy you some time, keep the price locked in, and when you are ready, switch back to myp to accelerate the timeline?

 

[Lccjblu]

What about if you downgraded to a MYLR and let it sit? Cheaper, and things could change by the time it came around.

Just a thought.

Oh wow we had the same idea. Have you seen this work?

 

[jjrandorin]

So I was originally supposed to get my MYP in early March, but the order got pushed back twice

The hold thing, yeah, I had a hold for a while. Released it in early April.

These two things, taken together, somewhat contradict each other, unless the "order got pushed back twice" was actually "I pushed my order back twice". If you had a hold till april, your car couldnt not have been delivered in march. If the delay is your fault, then the opening post saying it "got pushed back twice" is a bit misleading as it intimates (but doesnt outright say) that "tesla delayed my order so long I now cant have the car".

Anyway, tesla should give you everything but the $250 order fee back, but that may take a while. If you are in escrow on the house, you likely will want to get the situation settled with the order one way or another if its going to impact your debt to income ratio for qualifying for the house.

If you did a credit pull already, thats going to show up, and you might be asked to explain it or write a letter stating you are not purchasing the Tesla, etc (if it pushes you over the Debt to income ratio edge so to speak).

As a note, we dont allow for sale stuff in the regular subforums in TMC, they go in the appropriate marketplace subforum, either tesla for sale or tesla parts for sale. I only mention it because many times threads like this pivot to "if anyone wants the parts I was talking about in the first post the price is...." or "anyone want to buy this reservation from me?" or something like that, that would need to go in the marketplace subforum.

Good luck figuring out your situation, OP. Also good luck on the house purchase, hope everything works out the way you want it to.

 

[ElectricAnt54]

Buy the car. If you are planning on paying 7K a month on mortgage what’s another $800 or so for an auto loan gonna hurt? Rent it out on turo to make extra cash to go towards the loan. Do some side gigs and apply the $$$ equivalent to cost of car to your loan with the higher interest rate or pay off car first if that helps. I’d get some 19 inch tires in that case so your nice 21’s don’t get curb Rashed by anyone but you . Yea they get rashed in the first month easy. Get the car and cut back on other costly activities like going out to dinner, take your lunch to work or cut back on drinking at a bar or wine bar with pals. Instead, invite people over to your house for “bring your own beer” & food events .

 

[Moopwomp]

These two things, taken together, somewhat contradict each other, unless the "order got pushed back twice" was actually "I pushed my order back twice". If you had a hold till april, your car couldnt not have been delivered in march. If the delay is your fault, then the opening post saying it "got pushed back twice" is a bit misleading as it intimates (but doesnt outright say) that "tesla delayed my order so long I now cant have the car".

Yeah, it’s misleading. I got a Vin at March EoQ, but the truck got delayed in Fremont and they canceled it. Offered a hold if I wanted it, I said sure to hear Cyber rodeo announce. Nothing came of that, so I released shortly after. It recently got pushed back again from end of April to current May 5-15.

 

[Vdub31]

Going electric will help your bottom line long term (no gas, min maintenance). Don’t know your current car situation, but getting an electric car is the inevitable in CA. Might as well change to MYLR, hold as you can until the dust settles after buying home.

 

[MMDTX]

Buy the car. If you are planning on paying 7K a month on mortgage what’s another $800 or so for an auto loan gonna hurt?

Good point. If you’re taking out a $7k/mo mortgage and fretting about a payment, plus it sounds like potentially buying out an underwater trade (assume that’s what the $1700 is for?)… are any of these purchases really a good idea?

 

[Mingw]

Buy the car. If you are planning on paying 7K a month on mortgage what’s another $800 or so for an auto loan gonna hurt?

I don't understand why people keep saying you are already paying $X amount, $Y amount shouldn't hurt/not big deal.
for many people, the $X amount could be already stretching. any extra, especially when not needed, is big deal.
as for OP, most people are in very tight budget when they buy first house. Turo out may work, but if they never did it, the amount of effort buying a new house, dealing with the new house could be overwhelming and leave them no energy for setting up something new and even more demanding.

 

[Yelobird]

Sorry just sounds like a fishing expedition flip gone wrong. The car is due in 2 Days. Due to his hold waiting on some magic Austin news that never happened And likely his wife putting her foot down on the surprise. Buy the car as contracted or walk away from the deposit and let the next in line take the Vin. Simple.

 

[Moopwomp]

Yeah, I’m not going to flip it, too much risk and hassle for no reward.

 

[ElectricAnt54]

I don't understand why people keep saying you are already paying $X amount, $Y amount shouldn't hurt/not big deal.
for many people, the $X amount could be already stretching. any extra, especially when not needed, is big deal.
as for OP, most people are in very tight budget when they buy first house. Turo out may work, but if they never did it, the amount of effort buying a new house, dealing with the new house could be overwhelming and leave them no energy for setting up something new and even more demanding.

Luckily car loans are hassle free these days. I was amazed how easy it was to apply for a tesla car loan via my credit union and get approved. So since the car loan is so easy to get, OP could have all attention to devote to house loan which is indeed a pain in the…….

 

[Pantha]

So I was originally supposed to get my MYP in early March, but the order got pushed back twice, and now my wife and I have decided to buy our first house.
So, after months of obsessively checking this forum, I’m going to cancel my order. Any advice on dealing with the disappointment? I’ve spent so much time thinking about it, accumulating accessories, learning everything about the car… and now I need to sell the accessories at a loss, release my November order that is 4K below current prices, and give up my dream car.
I guess I really just wanted to complain about it, since my wife definitely does not understand.
On the plus side for this forum, there will be a really nice Coverking Stormproof CVC4 cover and Tuxmat 5 seater + cargo area set of mats up for sale soon, both still in packaging. Some other random things too like a noise reduction kit.

I also (stupidly) already paid Tesla 1700 to clear my balance after financing. No idea if they’ll give that back to me.

Remember to take in your cost savings for Gas when your doing your financial math calculations.

 

[kelpcar]

Luckily car loans are hassle free these days. I was amazed how easy it was to apply for a tesla car loan via my credit union and get approved. So since the car loan is so easy to get, OP could have all attention to devote to house loan which is indeed a pain in the…….

car loans are pretty easy, yes. A long process is 3 days, which is good, because when I suddenly had a VIN and a car ready for pickup the next day, I had to scramble.

The problem is more on the potential to screw up a mortgage in process. Any substantial spend on credit in the closing period, never mind a 70k car, can blow it up, even if the new debt holds within the DTI thresholds. The loan officer becomes the key, and if the bank is a more holistic lender or if they're a rigid going-to-immediately-sell-the-loan type. And if the mortgage locked in a rate from a couple of months ago, you can't do anything that might screw it up and force you to start over at a rate 100-150 basis points higher.

 

[Moopwomp]

Luckily car loans are hassle free these days. I was amazed how easy it was to apply for a tesla car loan via my credit union and get approved. So since the car loan is so easy to get, OP could have all attention to devote to house loan which is indeed a pain in the…….

Lol yeah I was able to lock in my auto loan in 10 minutes online without speaking to a single person.

Mortgage took me two hours on the phone to get preapproval and estimated rates that aren’t even locked in.

Update: Tesla said “we show you’ll get assigned a VIN in the next few days, but we can go ahead with cancel and refund if you want”. So now it’s decision time. Wondering what the wife’s reaction will be if I just showed up with a Tesla in a week…