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Can I take delivery & sell M3 for a profit?

Discussion in 'Canada' started by lux_cars, Apr 29, 2018.

  1. lux_cars

    lux_cars Member

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    I had a reservation for a family member who no longer wishes to purchase the Model 3.

    I just received an invite to configure and was wondering if I could take delivery and sell for a profit (after accounting for 13% HST) or just transfer the reservation for a cash price?

    Also, if I take delivery, would I still qualify for the Ontario $14,000 incentive if I sell soon afterwards?

    Thanks.
     
    • Disagree x 2
  2. ryanakata

    ryanakata Member

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    I know you're in Canada but in the USA if you don't intend to keep the car, you cannot claim the credit. This would be fraud.
     
  3. sakimano

    sakimano Active Member

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    You have to keep it a year to get the provincial credit on a purchase.
     
  4. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Well-Known Member

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    #4 ItsNotAboutTheMoney, Apr 29, 2018
    Last edited: Apr 29, 2018
    http://www.forms.ssb.gov.on.ca/mbs/ssb/forms/ssbforms.nsf/GetFileAttach/023-2096E~3/$File/2096E_Guide.pdf

    PS Sometimes I think "They should do their own damned Internet search. It'll take 2 minutes at most", but then I sigh and do it anyway.
     
    • Like x 1
    • Funny x 1
  5. lux_cars

    lux_cars Member

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  6. Munch

    Munch Member

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    Whoever buys it from you will then have to pay HST on top of that price. Also they just sent out invites to many Canadian reservations holders up to late 2017. Make a decision based on that.
     
  7. Sandollars

    Sandollars I bleed Cardinal

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    Sooo, probably not....
     
  8. Uncle Paul

    Uncle Paul Active Member

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    Probably best to just cancel your order, and let everyone else move up a slot.
     
    • Like x 2
  9. wayner

    wayner Active Member

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    Here's an interesting question - what if the rebate goes away in the next few months - which is quite likely if the PCs win the election in June. Will the resale value go up along with the net purchase price?
     
    • Helpful x 1
  10. lux_cars

    lux_cars Member

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    Ok. Will do that!
     
  11. NeverFollow

    NeverFollow Active Member

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    Unless you might be interested getting the Model Y istead?
    So I imagine this Model 3 reservation could be transferable, and give you then an edge?
     
  12. noicepls

    noicepls Member

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    If the rebate goes away, the retail MSRP will be unaffected, however the resale prices will then go down by the usual depreciation amount without the added hit of the rebate amount, which is currently the case in Ontario. In other words, the resale prices will theoretically have gone up here, subject to the market's whim as usual..
     
    • Like x 1
  13. SmartElectric

    SmartElectric Active Member

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    The Ontario rebate is the only reason I am even remotely considering purchase of a RWD Tesla 3.
    But, it's not what I WANT, so I have deferred making a decision.
    Really, the Model 3 being smaller and more nimble, and having AWD and simple interior is my primary reason for my interest.

    Fortunately, having a Model S in the driveway eases the pain of the wait for AWD 3.
    I realize every time I drive the S why I bought a Tesla in the first place.

    Re: rebate, realize that if Tesla does ship ~3000 Model 3 to Ontario (an outside possibility) in the next few months, that is $42M in rebate cash used from the total ~$100M currently slated in the climate fund. There is a chance the rebate is dramatically downsized no matter who takes office post June election.

    Perhaps Federal government might step in and match their promise on HST rebate on EV's Canada wide if Ontario reduces/drops the generous rebate.
     
  14. adaptabl

    adaptabl Banned

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    If the rebate goes away the demand for any electric car will drop like a rock. The rebate is needed to encourage buyers to try an electric car even with all the disadvantages,
     
    • Disagree x 3
  15. karpetkutter

    karpetkutter Member

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    The whole uncertainty of the rebate was a big reason I decided to configure now rather than wait. I said all along that I was going to wait for the AWD model but I didnt want to risk missing out on the rebate.
     
  16. Sisko - DS9

    Sisko - DS9 Member

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    I know everybody keeps singing the same tune. I believe this tune, that if not for incentives electric cars would die off, is the tune made and played by the oil and gas industry and the traditional auto manufactures. Gas prices are so subsidized that upon an equal playing field, who would win over? I bet there are a number of motorists in Vancouver who would like to switch to an electric car right about now - incentive or not. Those gas prices of over $1.65 per litre for regular gas... You tell me. The incentive simply acts as a catalyst and not the actual reaction itself - to use an analogy. In Ontario, and Manitoba and Saskatchewan. All Provinces, except for Alberta, are suffering with sky high gas prices.

    I know, someone is going to say, see what happened in Norway/parts of Europe when they pulled the incentive... Purchases of EV's dropped. Not really, it was the purchase of Teslas that dropped. Tesla has huge duties on it to import to Norway, whereas others do not. There incentive basically neutralizes that; still a Tesla is much more expensive than most EV's in Europe. And yet, they buy it in droves.

    I truly believe that there are a number of factors that effect ones buying choice, one of which is whether an incentive exists or not. Another is the information the person has; do they have an understanding of the pros and cons in comparison to an ICE vehicle... the factual evidence. Plus the purchasers aesthetic choices and affordability for him/her/family, etc. The incentive, i believe really helps those people who are on the "edge" of being to afford an EV makes it possible for them, because they are likely to be very interested in buying an EV. cost gets in the way.

    It benefits the ICE vehicle industry when people vasilate about the two and that industry will pounce on people's hesitation. Then they are stuck with a SUV or a truck and now cannot get rid of it because gasoline is $1.60 or more per litre.

    Whether we like it or not, the future always comes and keeps coming. Make a decision based on your understanding of a product and move forward. I would like for the gasoline subsidies to be taken off and then take off the incentives as well. I still predict EV's will be far better and the public would find that out soon enough at that point.

    my opinion and two cents, anyway.
     
  17. adaptabl

    adaptabl Banned

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    But Norway put the money on other things like charging abilities, free parking for EV's and other non direct incentives to make the purchase of EV's more desirable.
     
  18. Birdman325

    Birdman325 Member

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    I wonder if the S or X sales have dropped (noticeably) since Ontario pulled the 14K rebate?
     
  19. noicepls

    noicepls Member

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    What disadvantages? (Warning: Loaded question. Be prepared if preaching to the converted)
     
  20. adaptabl

    adaptabl Banned

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    Cost, Range worries, Ability to fill up quickly without planning on road trips, Reduced range in Winter, Charger installation, Plugging in every night. All things you do not worry about with ICE cars.
     

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