Cancel order or take delivery and sell?

[Arthur Itis]

I ordered a MYP MSM/white no tow no FSD. EDD is Jan 3-31. I've changed my mind on the car. Not that I don't want it, I just don't want it yet and don't want to play the hold game. I may re-order towards the end of 2022.

So, asking the more experienced group out there, do I cancel and eat the deposit or do I accept delivery and put it up for sale soon after (a week to a month after). I'm hearing the 'used' (in this case it'd be a very slightly used) Tesla market is excellent.

I would only want to accept delivery and then turn around and sell it if I could either break even or make a little. No sense in taking a loss of more than $250 since that is what I stand to lose if I cancel.

 

[voxel]

For MYP, cancel if BBB doesn’t pass. Barely any price increase and resale market isn’t super hot unlike long EDD cars like the MYLR. After sales taxes you might not even break even.

If you had MYLR or M3SR+ old orders at lower prices… keep or sell reservation.

 

[norazi]

Cancel... Myp resale is low because wait time is around a month

 

[Clark_Kent]

For MYP, cancel if BBB doesn’t pass. Barely any price increase and resale market isn’t super hot unlike long EDD cars like the MYLR. After sales taxes you might not even break even.

If you had MYLR or M3SR+ old orders at lower prices… keep or sell reservation.

Cancel... Myp resale is low because wait time is around a month

This is not true. I sold my 2021 MYP at the end of November and got a king's ransom for it relative to what I paid less than a year prior.

 

[Tooleman694]

Cancel... Myp resale is low because wait time is around a month

I wish

 

[khurshidev]

If you are just trying to recoup the $250, not worth it.
It may be an option if you have lower price locked. (Please do your due diligence on sales tax)

 

[voxel]

This is not true. I sold my 2021 MYP at the end of November and got a king's ransom for it relative to what I paid less than a year prior.

Right. Any price you paid a year ago is much lower than today but his MYP order is relatively recent and to flip it now you will lose on the sales tax and fees.

 

[Clark_Kent]

Right. Any price you paid a year ago is much lower than today but his MYP order is relatively recent and to flip it now you will lose on the sales tax and fees.

That's also not true. I replaced my 2021 with a 2022 and me and the OP ordered around the same time based on his EDD of 1/3 - 1/31. The MYP did not increase in price at the same rate as the LR. The delta was only $1,000.

 

[voxel]

That's also not true. I replaced my 2021 with a 2022 and me and the OP ordered around the same time based on his EDD of 1/3 - 1/31. The MYP did not increase in price at the same rate as the LR. The delta was only $1,000.

I’m not sure we are talking about the same thing. The OP ordered same time as your new MYP but your old one was purchased a year ago for $3K less (or more… I don’t know your exact price) and with 6.8% sales tax in Washington state (the OP’s home state based on his zip code) that’s a money losing proposition to sell after purchasing.

The OP asked “I would only want to accept delivery and then turn around and sell it if I could either break even or make a little. No sense in taking a loss of more than $250 since that is what I stand to lose if I cancel.”

To me, buying today and selling - bad idea
Buying a year ago and selling today… depends on the state and your price. Now that I see the OP is in Washington state… probably won’t break even except in a state like NJ where you don’t pay sales tax on EVs.

 

[goin2drt]

Like voxel stated unless you got the much lower locked in price (sounds like you didn't since you haven't been playing the "hold" game) it is not worth your time, effort and energy. Just take the $250 loss and move on down the road and order when you actually want one.

 

[Clark_Kent]

I’m not sure we are talking about the same thing. The OP ordered same time as your new MYP but your old one was purchased a year ago for $3K less (or more… I don’t know your exact price) and with 6.8% sales tax in Washington state (the OP’s home state based on his zip code) that’s a money losing proposition to sell after purchasing.

The OP asked “I would only want to accept delivery and then turn around and sell it if I could either break even or make a little. No sense in taking a loss of more than $250 since that is what I stand to lose if I cancel.”

To me, buying today and selling - bad idea
Buying a year ago and selling today… depends on the state and your price. Now that I see the OP is in Washington state… probably won’t break even except in a state like NJ where you don’t pay sales tax on EVs.

BLUF: Used MYPs (like LRs) are selling on the secondary market at a premium to MSRP. I think we're talking about the same thing. I presume you could sell a 2022 MYP for no less than $73,000. Not sure how one would lose money on that deal even if you're paying 7% sales tax. I sold my 2021 MYP (MSM, Black interior, no FSD, no tow) with 11,4xx miles for $70,000 three weeks ago. I searched the VIN on Google a couple weeks after I sold it and it's being sold for $76,xxx.

 

[afscotch]

Playing the game is free, why not just put it on hold until say, June and reevaluate? I have a feeling with BBB killed they'll go back to being more accommodating with holds (and maybe EV credits come back?).

Edit to add:
Your situation is likely the actual intent behind tesla allowing holds, and not gaming/abusing the hold option. Also, with Austin coming online soon, and starting with Performance models, all the added capacity coming online, there is a chance there could be some downward price corrections (which you'll get), especially if the supply chain issues and inflation start to ease. Oh, and the induction of more EVs, like the refreshed e-Tron, mach-e matures more, etc.

 

[goin2drt]

BLUF: Used MYPs (like LRs) are selling on the secondary market at a premium to MSRP. I think we're talking about the same thing. I presume you could sell a 2022 MYP for no less than $73,000. Not sure how one would lose money on that deal even if you're paying 7% sales tax. I sold my 2021 MYP (MSM, Black interior, no FSD, no tow) with 11,4xx miles for $70,000 three weeks ago. I searched the VIN on Google a couple weeks after I sold it and it's being sold for $76,xxx.

Not a chance.

https://www.carvana.com/cars/tesla-model-y/performance

Quick search the highest is at $73K. He did not order FSD so if he paid current prices he would pay $64,990 + tax license etc = $70,430 (6% tax). This is for a NON FSD. He WILL NOT be able to sell that for $70,750. No way no how. These companies would need to turn around and sell for $76+ (again for a NON FSD) and when someone can go order the exact same car but new and only wait a max of 6 weeks they are not going to pay a $6K premium.

Again the only way this works is if the OP got locked in at a cheaper price. You are comparing apples to oranges and comparing your deal in which you did not pay the current prices for your car.

 

[Clark_Kent]

Not a chance.

https://www.carvana.com/cars/tesla-model-y/performance

Quick search the highest is at $73K. He did not order FSD so if he paid current prices he would pay $64,990 + tax license etc = $70,430 (6% tax). This is for a NON FSD. He WILL NOT be able to sell that for $70,750. No way no how. These companies would need to turn around and sell for $76+ (again for a NON FSD) and when someone can go order the exact same car but new and only wait a max of 6 weeks they are not going to pay a $6K premium.

Again the only way this works is if the OP got locked in at a cheaper price. You are comparing apples to oranges and comparing your deal in which you did not pay the current prices for your car.

Interesting how you only post Carvana to buttress your argument like they're the only game in town for used MYPs. MYPs on Carmax are selling for upwards of $80,000 and at least one does NOT have FSD. There's also an Autotrader and cars.com link below with more of the same. Some of these vehicles aren't even 2022 models. Just because you don't want something to be true doesn't make it is so.

https://www.carmax.com/cars/tesla/model-y/performance

Autotrader - page unavailable

www.autotrader.com

https://www.cars.com/shopping/results/?dealer_id=&keyword=&list_price_max=&list_price_min=&makes[]=tesla&maximum_distance=all&mileage_max=&models[]=tesla-model_y&page_size=20&sort=list_price_desc&stock_type=used&trims[]=tesla-model_y-performance&year_max=&year_min=&zip=30316

 

[goin2drt]

Those are asking not SOLD. No one in their right mind is buying a MYP for $80k plus sales tax, call it 6% for a total of $84,800 for a USED car. When you can wait 6 weeks and get the exact same NEW car for $70k.

If you are so confident then why don’t you order one. In six weeks when you get it go make that $5k+ that you are so confident is just out there waiting for you. Why? Because you know it isn’t and there is NO WAY the OP can sell it for the numbers you are claiming and the profit you are claiming or everyone would be doing it. $5k for about one hour of work and six weeks of wait time. Yeah right. You are so confident in the number, prove me wrong by doing it.

 

[Clark_Kent]

Those are asking not SOLD. No one in their right mind is buying a MYP for $80k plus sales tax, call it 6% for a total of $84,800 for a USED car. When you can wait 6 weeks and get the exact same NEW car for $70k.

If you are so confident then why don’t you order one. In six weeks when you get it go make that $5k+ that you are so confident is just out there waiting for you. Why? Because you know it isn’t and there is NO WAY the OP can sell it for the numbers you are claiming and the profit you are claiming or everyone would be doing it. $5k for about one hour of work and six weeks of wait time. Yeah right. You are so confident in the number, prove me wrong by doing it.

You're missing the point. If you're selling to Carmax, Carvana or anyone else you don't give a s h i t who buys it at what price because they already paid you. The cars selling for $80k, what do you think they bought them for $65k. The spread isn't that large. They paid over $70k for every last one of those cars they're selling for $75k and up.

 

[goin2drt]

You are missing the point. They aren’t selling for $80. They are asking $80. They are not buying them for $70 from the OP either. They are buying them for less. He needs to sell for just under $71 to break even. It isn’t happening. If you think it is they make the OP a deal. Tell him you will split the profit with him over his $250 he needs to break even but you cover the entire loss if it sells for less. Put your money where your mouth is. It isn’t happening for him to make money on his car if he locked in at the current prices.

By your math business minded people would be ordering MYP‘s by the dozens and just flipping them. It is only a 6 or less week wait. It just isn’t happening and horrible advise you are giving the OP to think he can do this and make money.

 

[afscotch]

Canceling now or after you get a VIN isn't any different... wait for the VIN, get an offer from all the buyers and see what the irrefutable facts are so these guys can stop fighting over who's right.

Option 1: Don't like the offer? Cancel and loose 250, same as canceling today.

Option 2: Like the offer? Take delivery.

Option3: Want to wait and see what the next 6 months bring? Ask your order be put on hold. If they refuse, go back to option 1 and/or 2.

 

[preilly44]

So I have a 2020 YP with FSD, white interior, MSM with 17.5k miles and I shopped it around to vroom, carmax, carvana, etc. They all offered me in the low $60's. Private party offered me $65k. Tesla is giving me $66,543 with the MD tax advantage as a trade in for a new YP that I ordered in 4/20 when prices were lower.