Getting offers of up to $135,000 for X-LR

[River Town]

For anyone considering selling their reservation vs. taking delivery. After trying to sell my reservation here (I wanted $7,500) and getting a lot of pushback on the asking price I decided to take delivery.

I paid $119,000 out the door for MODEL X-LR , 2022, FS, etc.

I listed it here in the sf bay area on CL and sold it for $135,000 with many offers. Makes sense I guess because same configuration is now $129,000 ($131,000 when FS goes up) and you have to wait a year.

Anyway, just an FYI.

 

[Freshness]

congrats but don’t forget you have to pay cap gains tax.

 

[Ampster]

don’t forget you have to pay cap gains tax.

Could it be considered ordinary income since it was short term?

 

[Freshness]

Could it be considered ordinary income since it was short term?

I think the CA DMV allows 7 or 10 days in between. But it’s a headache to file the paperwork.

 

[Freshness]

@Cyberspeed what are you disagreeing with exactly?

 

[Ampster]

I think the CA DMV allows 7 or 10 days in between.

Capital gains or income is a State and Federal tax issue. The DMV issue is a use tax issue.

 

[Miltonian]

Great, my March 21 order just got pushed to March from Feb.

5 seater Plaid with FSD

 

[Freshness]

Capital gains or income is a State and Federal tax issue. The DMV issue is a use tax issue.

I’m just referring to the paperwork involved to avoid the tax. I’m not an expert but when I was considering selling my Porsche I was advised CA has some 7 day free period which is filed through the DMV. You should google it, I have no idea.

 

[Thamanrp]

Hmm, I am surprise you didn’t get an offer for $7500. I am contemplating on selling my reservation and I have a couple offers that want to buy at current price ($15K).

 

[Ampster]

I’m just referring to the paperwork involved to avoid the tax.

Perhaps the tax issue you are referring to is the use tax which the DMV collects when they transfer the title. In addition the difference between the cost and the sales tax is a capital gain that would be subject to State and Federal income taxes. I do not know anyway to avoid the latter.

 

[sorka]

Great, my March 21 order just got pushed to March from Feb.

5 seater Plaid with FSD

How are you getting a 5 seat plaid since they're not going to make those?

 

[Roy2001]

How are you getting a 5 seat plaid since they're not going to make those?

They will just give you free upgrade to 6 seater.

 

[sorka]

They will just give you free upgrade to 6 seater.

That's what they offered me but @Miltonian is saying it's 5 seats.

 

[R6MX]

How do you go about selling your reservation? I thought the RN numbers were not transferrable.

 

[Ampster]

How do you go about selling your reservation? I thought the RN numbers were not transferrable.

The original post was about a sale after delivery. There are a number of other threads about the process to accomplish a transfer. The simplest way is to let the purchaser take over your account and change the name. That does not always work and there are risks.

 

[Arktctr]

For anyone considering selling their reservation vs. taking delivery. After trying to sell my reservation here (I wanted $7,500) and getting a lot of pushback on the asking price I decided to take delivery.

I paid $119,000 out the door for MODEL X-LR , 2022, FS, etc.

I listed it here in the sf bay area on CL and sold it for $135,000 with many offers. Makes sense I guess because same configuration is now $129,000 ($131,000 when FS goes up) and you have to wait a year.

Anyway, just an FYI.

Wow! I would sell my LR X (just delivered last week) for $135k but not sure I would do so on CL. Congrats.

 

[Roy2001]

For anyone considering selling their reservation vs. taking delivery. After trying to sell my reservation here (I wanted $7,500) and getting a lot of pushback on the asking price I decided to take delivery.

I paid $119,000 out the door for MODEL X-LR , 2022, FS, etc.

I listed it here in the sf bay area on CL and sold it for $135,000 with many offers. Makes sense I guess because same configuration is now $129,000 ($131,000 when FS goes up) and you have to wait a year.

Anyway, just an FYI.

When did you order? FS is FSD or not? If not, your base price is $90k with 22", 6 seater, with color other than white, your price would be around $105k?

I am just curious. Since price has increased by $15k, and waiting time is more than a year, I assume you can ask for $20k or even more over pre $15k increase for immediate delivery.

I am still waiting for May 2021 order of 7 seater. It shows March, but I would rather have more realistic date. Saw a few X on road, I cannot wait any longer. It is beautiful.