Can I sell my brand new tesla to someone the day I take delivery?

[blecchus_rex]

I'll probably pay cash. Might even sell some TSLA to cover it, then buy it back. (risky, I know)

Don't forget to calculate for the capital gains hit (obv. variable to how long you've held it) beyond the other costs of transaction if you take this approach.

 

[M3Jay]

It's noteworthy that when selling stock to buy the car there's a potential capital gains tax for the gains of the stock sale. Plus, there is an additional capital gains tax if the car is sold for more than it was purchased for.

 

[Soullancer]

Old topic but curious how the new rebate plays into picture. I had reserved one before price increase and new rebate. Do I still get the rebate benefit if I see it as soon as I have a title?

 

[jjrandorin]

I am going to push you to one of the (many) "tax rebate" discussion threads for that question

Perhaps re post it in the following thread:

Discussion : All discussion regarding Model 3 and Tax credit in model 3 subforum

Wonder if delaying ordering for any tax break, would be better than the inevitable price increases?

teslamotorsclub.com

 

[blackT3$!@]

This would be my second Tesla as I already own a MYLR.

So what did you end up doing? I have a suggestion, keep the car and list it on Turo and make some money.

 

[durbinlc]

I am in this predicament as well now. I have a 2022 Model 3 SR that I do not need. It was from a buyback swap of my 2021 Model 3, but I upgraded to a Model Y already and took delivery. I live in Houston,TX and have been looking into what, if any options I have in getting out of the tax on the vehicle. In Texas, you can claim a sales tax exemption for vehicles taken out of state. On the form it states:

"I claim this exemption because the vehicle is to be transported outside this state, prior to any use in this state other than the transportation of the vehicle out of state, for use exclusively outside this state. I understand that, if I register the vehicle in Texas, the exemption I am claiming will be presumed invalid."

So, essentially it seems like I would be able to sale this vehicle to someone in let's say Louisiana and use this tax exemption certificate? I live in Houston, so we are talking about an 1.5 drive to save paying all of the tax on the vehicle. My only other thought was if I sell it to Carvana, Vroom, etc., it is entirely possible the vehicle is transported out of state and not used in Texas. Would this qualify for the exemption as well? I doubt it is, but it is worth a shot.

Another option I have seen is the Montana LLC loophole. Due to the fact that I was sold the Model 3 from California, there is a loophole where someone from a different state can open an LLC in Montana, register the vehicle in Montana and pay no vehicle tax, then sell the vehicle and obsolve the LLC. The paperwork, fees totals $150 or so. I have also seen where you can pay a little bit more and someone does everything for you.

Am I way off base on these different options, or do they seem like real possibilities? I do not want to pay the full tax on a vehicle I am not going to drive even a mile, but I definitely am not interested in breaking the law either lol.

 

[jjrandorin]

I am in this predicament as well now. I have a 2022 Model 3 SR that I do not need. It was from a buyback swap of my 2021 Model 3, but I upgraded to a Model Y already and took delivery. I live in Houston,TX and have been looking into what, if any options I have in getting out of the tax on the vehicle. In Texas, you can claim a sales tax exemption for vehicles taken out of state. On the form it states:

"I claim this exemption because the vehicle is to be transported outside this state, prior to any use in this state other than the transportation of the vehicle out of state, for use exclusively outside this state. I understand that, if I register the vehicle in Texas, the exemption I am claiming will be presumed invalid."

So, essentially it seems like I would be able to sale this vehicle to someone in let's say Louisiana and use this tax exemption certificate? I live in Houston, so we are talking about an 1.5 drive to save paying all of the tax on the vehicle. My only other thought was if I sell it to Carvana, Vroom, etc., it is entirely possible the vehicle is transported out of state and not used in Texas. Would this qualify for the exemption as well? I doubt it is, but it is worth a shot.

Another option I have seen is the Montana LLC loophole. Due to the fact that I was sold the Model 3 from California, there is a loophole where someone from a different state can open an LLC in Montana, register the vehicle in Montana and pay no vehicle tax, then sell the vehicle and obsolve the LLC. The paperwork, fees totals $150 or so. I have also seen where you can pay a little bit more and someone does everything for you.

Am I way off base on these different options, or do they seem like real possibilities? I do not want to pay the full tax on a vehicle I am not going to drive even a mile, but I definitely am not interested in breaking the law either lol.

These are questions for your Tax advisor. On the "Montana" angle, supercar owners used to register in montana to avoid all sorts of stuff, so I would caution you on registering in Montana if you dont actually live there, it may bring unwanted scrutiny.

 

[SMAlset]

Not sure if mentioned but some States may offer a rebate on purchase of EVs and that require the owner to have owned the car for X amount of time to qualify and I think only apply to first time owners.