Welcome to Tesla Motors Club
Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More.
Register

Can I take delivery & sell M3 for a profit?

lux_cars

Member
Jul 31, 2017
170
135
Boston, MA
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.
 

ryanakata

Member
Jun 25, 2015
123
112
West Monroe, LA
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.

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.
 

ItsNotAboutTheMoney

Well-Known Member
Jul 12, 2012
10,872
8,572
Maine
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.

http://www.forms.ssb.gov.on.ca/mbs/...tFileAttach/023-2096E~3/$File/2096E_Guide.pdf

The (Canadian) Man said:
How long do I have to keep my vehicle?
If purchased, you must keep your electric vehicle registered and plated under your name, insured and roadworthy in
Ontario for a minimum of 12 months from the date the vehicle was registered and plated.
If you purchased your vehicle, and your ownership is less than 12 months (365 days), you must repay the full
incentive. You will not be eligible for another incentive until the government has received the funds.
If you leased your vehicle you are eligible the full incentive if your lease term is a minimum of 36 months or longer.
If you do not meet this requirement, you must repay the entire incentive and are not eligible for another incentive until
the government has received the funds.
If you receive an incentive when you, or your vehicle, are not eligible for, the Province of Ontario will recover the
amount of the incentive from you. Any incentive payment received for a vehicle that is not eligible is a debt due to the
Crown.

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.
 
Last edited:
  • Like
  • Funny
Reactions: gene and Sandollars

Munch

Member
Mar 19, 2016
209
208
Toronto, ON
Got it! Thanks.

Any idea if I might still sell at a profit after HST and without getting a rebate?

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.
 

wayner

Active Member
Oct 29, 2014
3,854
1,460
Toronto
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
Reactions: SmartElectric

noicepls

Closed
Apr 20, 2018
324
270
Lambton County ON.
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?

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
Reactions: sakimano

SmartElectric

Active Member
Jul 9, 2014
2,523
2,400
Toronto,Canada
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.
 

adaptabl

Banned
Mar 13, 2018
776
702
Canada
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?

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,
 

Sisko - DS9

Member
May 1, 2016
93
114
Ontario
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,


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.
 

adaptabl

Banned
Mar 13, 2018
776
702
Canada
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.

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.
 

adaptabl

Banned
Mar 13, 2018
776
702
Canada
What disadvantages? (Warning: Loaded question. Be prepared if preaching to the converted)

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.
 

Products we're discussing on TMC...

About Us

Formed in 2006, Tesla Motors Club (TMC) was the first independent online Tesla community. Today it remains the largest and most dynamic community of Tesla enthusiasts. Learn more.

Do you value your experience at TMC? Consider becoming a Supporting Member of Tesla Motors Club. As a thank you for your contribution, you'll get nearly no ads in the Community and Groups sections. Additional perks are available depending on the level of contribution. Please visit the Account Upgrades page for more details.


SUPPORT TMC
Top