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How long to get the $50k deposit back?
- Thread starter phantasms
- Start date
My situation changed for the better and I'm planning on keeping it and getting the car. You may be able to find someone who won one through the referral and may be interested in selling it for a deal.
HankLloydRight
No Roads
I'm sure the market will be flooded with people selling referral Roadsters.
What I think a lot of referral winners don't yet realize is that they'll owe regular income tax (Fed+State) on the value of the Founder's Series Roadster (likely $250k). So take your combined effective tax rate times $250k and that's the tax these folks will owe in the year the award is received. So say someone's combined effective tax rate is 25% -- That's $62,500 in taxes due. Lucky are the people that live in a no-income tax state.
So I think many people will be selling their NGRs just to pay the income tax.
Mr musk will be busy with the twitter mess he put himself in - my advise get your deposit back - too much $ for a maybe - also don’t but stock on margin as suggested- Tesla stock had some huge swings as you know - Alan g
After well over a month after my deposit was paid, I can't even get Tesla to confirm they have my money. (My bank shows the wire transfer going through) What was the address used to request the 50k deposit back? If they can't even acknowledge the deposit, how can they build a super car? Unlike Space X projects this is not rocket science. Is Elon listening???
What I think a lot of referral winners don't yet realize is that they'll owe regular income tax (Fed+State) on the value of the Founder's Series Roadster (likely $250k). So take your combined effective tax rate times $250k and that's the tax these folks will owe in the year the award is received. So say someone's combined effective tax rate is 25% -- That's $62,500 in taxes due. Lucky are the people that live in a no-income tax state.
Federal taxes will be due by everyone. Saving state taxes is the tip of the iceberg.............................................
Federal taxes will be due by everyone. Saving state taxes is the tip of the iceberg.............................................
HankLloydRight
No Roads
swaltner
Active Member
AOPA (Aircraft Owners and Pilots Association), along with other aviation groups give away free airplanes each year. AOPA ran an article many years ago detailing “where are they now?” for past sweepstakes airplanes. Depending upon the year and which airplane was given away, the prize could be worth $50k to $500k. As you outlined, the tax burden was too much for many people, so they would fly the plane for a few months and then sell it to cover the tax burden. I remember it as more than 80% of the planes being sold within the first year. Many that decided to keep the free airplane ended up having to take out a loan to finance the taxes over time.
After 2 months and with "hope" Tesla could actually e-mail me confirming my deposit (This is what was printed once you made your deposit in the reservation would occur) and 4 or 5 phone calls as reps saying I would get a notification soon, tomorrow will formally request my deposit back. How can they build a super car when they can't even acknowledge a wire transfer made months ago? The Tesla employees like there CEO seem to say anything to get one to go away for a week. Maybe change the corporate tag line to "Do what you say, say what you'll do". Leadership starts at the top. I've owned many Tesla's and was an early adopter purchasing their stock early on and selling last year. Probably a good thing. I wonder how many orders of their Founders Addition they still have on their books?
More than welcome. After 2 months they can’t even acknowledge they have my 50k. They say I can cancel but since they don’t even recognize my deposit nothing occurs. Tomorrow will start the formal process of litigation. All I have is verbal acknowledgment they recognize my wire transfer and a SMS from “somebody” they have my deposit. Account still shows “pending”. It’s ridiculous. I’ve had 4 people tell me they would call me within 2 days over the last month and yet, crickets.
TorqueMonster
Member
Last 2 months please ? Are they giving you any kind of update where they are in the process or just using your money to finance other projects? (Debt reduction) Seems purchasers have been waiting years so far. (And many more years into the future) The freebie Roadsters I get they will be patient but individuals who put up 250k of actual cash I'm not so sure of.
Would that be the voice of an inner child with no grip on reality?
Several of my closest friends / colleagues are on the autism spectrum—none of them lie at all, let alone constantly. Just sayin’
After I called ready to go to the mat with Tesla I was greeted with my 5th sales rep who seemed a little more on the ball than the previous 4. Good sign # 1. While I explained the situation once more he sent me an e-mail while talking to me apologizing and wanted to resolve the issue. Good sign # 2. He asked I cut and paste the bank page showing the respective wire transfer and send back to him. Once I did that he told me he had a similar issue about 2 weeks ago and it was resolved very quickly. He responded to my e-mail and told me he should have it fixed by tomorrow latest. (Sounded familiar but I was hopeful) He also told me only one other call had been logged. It seems that Tesla training states that calls should be logged and even some sort of e-mail sent to the customer outlining the issue. (I am guessing at this but why would only one rep do this if it was not some how documented which seems it should) One hour later he called me back stating the issue was fixed and check my account. # 3. Sure enough now show deposit submitted. Seems like a lot of wasted time but for now glad this is done. If they could only start building the vehicle.........
whitex
Well-Known Member
Why bother? Given Tesla history with pre-release deposits, they are mostly useless. They will build cars by geography, regardless of reservation numbers (which is why for example people in CA who ordered way after people with deposits from NY got their Model 3's first). I had a friend in Canada with an early reservation, his coworker got a Model 3 about the same time without having a long standing reservation. Price is also not guaranteed, as evidenced by Elon's latest announcement about not honoring the Cybertruck reservation prices. Given current inflation, that $50K sitting and losing value for a few years is no good thing either. Elon believers who plunked down $50K in 2017 should have just bought Tesla stock, would have had enough money for more than 2 Roadsters by now, which I'm sure would be enough to convince anyone with an early reservation to sell, and still end up with a free Roadster..
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