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Reservation Transfer Ability

Discussion in 'Model S: Ordering, Production, Delivery' started by herbie731, Oct 10, 2012.

  1. herbie731

    herbie731 Member

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    Thank you for taking the time to look at this.

    I have read many places where transferring the reservation is accepted with written permission from Telsa. Can anyone confirm that they have successfully accomplished this with written permission? I currently hold a reservation, but would assist someone that is looking to cancel due to financial instability at the present time. Instead of a refund Tesla should offer interest payments on the funds that were held. I am sure in their T/C they state why they do not do this, or I may be missing something altogether - but I feel that if someone placed $5000 with a company and they decide to cancel months down the road they should be paid in excess of the $5,000 due to the loss opportunity.

    In any case, I am not violating any of TM t/c's by suggesting or offering to assist someone in collecting what is rightfully theirs in a form of an interest payment or bonus. As I have a reservation now, I do not wish to wait 8 months. Instead I can assist someone that wishes to cancel - of course with the permission of Tesla Motors.

    Thanks again for reading.
     
  2. markb1

    markb1 Active Member

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    Your message is very confusing. You say you want to "assist someone". Does that mean you want to buy someone's reservation and cancel your own. Never heard of anyone doing this, but when you finalize, you can specify a different person as registered owner. It's not clear how this affects the various tax credits and incentives, though.
     
  3. strider

    strider Active Member

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    Tesla is not a bank. You put down your reservation to hold your spot in line and not to make money. The "opportunity cost" is you get your car earlier than someone who waits to put their deposit down. I have not heard of Tesla actually allowing someone to transfer a reservation.
     
  4. herbie731

    herbie731 Member

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    Sorry for the confusion. I wish to trade someone their reservation for money, yes. This is 100% possible and legal, I just confirmed this. The way to go about it is to add the other persons name as a signer on the reservation/account. Once the vehicle arrives it can be titled into anyone's name (this comes from reading others feedback on this topic, not yet confirmed this). However the tax incentive is unable to be transferred, as it has to be in the original reservations name for 2 years.

    Tesla, by holding funds, is in fact a "bank" whether they call them selves one or not. In their T/C they wiggle their way out of this I am sure. If I ever get 3 weeks off i'll take the time to read it.

    I wish to trade funds for someones earlier reservation, yes. Or, if they wish to have my reservation and extra funds in exchange for theirs (for someone that can tolerate waiting), I will offer that as well.
     
  5. ElSupreme

    ElSupreme Model S 03182

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    Unless you live in Washington state (who by law requires an escrow account) they aren't 'holding funds' they sold you a ticket, and use the funds as they see fit. They will return your ticket, but your money becomes their money the second you make that reservation.

    It wasn't all that long to read.
     
  6. bonnie

    bonnie Oil is for sissies.

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    Agreed. Tesla never represented anything other than this. (And also agree that the terms and conditions are a short read. And clear.) I gave them a deposit for the Model X. That deposit is refundable, should I request it back. Not an investment, but a deposit.

    If I wanted interest, I would have invested the money. Two different things. They are not acting as a bank.
     
  7. shokunin

    shokunin P85 & S40

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    Sub 8000ish have already been notified to finalize and sign their MVPA for Feb/Mar 2013 delivery. Only those who have not finalized/configured their cars would be able to (if even possible) to transfer their spot. Even then, your delivery most likely won't be until 2013 anyways. You're not going to be jumping in line all that much, while losing out on the tax credit.

    You provided a deposit not a CD into a savings account. Signature holders put down $40,000 upfront to Tesla many going on several years ago.

    There was someone selling their sig Red model S, but it was something like 15K above sticker.
     
  8. markb1

    markb1 Active Member

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    Not all bank accounts pay interest, anyway.
     
  9. rcc

    rcc Model S 85KW, VIN #2236

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    #9 rcc, Oct 10, 2012
    Last edited: Oct 10, 2012
    I believe that Tesla wants to do everything they can to keep people from selling reservation slots. So I believe Tesla's default answer to a slot xfer/swap is "no".

    Personally I think this is quite reasonable. I think even low to moderate levels of reservation selling would result in a lot of ill-will. And would probably result in people grabbing reservations who only want to sell their reservation, not buy a car. Tesla doesn't need any of that.

    I've read about some exceptions (on this forum, I think). Family members hopping on as co-buyers or maybe swapping slots, especially if financial hardship is involved. But I think it's got to be pretty clear to Tesla the situation is a legit "no compensation" scenario. And even if you do the co-buyer thing, the folks at Tesla HQ can look at every MVPA before they issue the paperwork and delay or kill the sale if the situation looks odd. Tesla doesn't have to sell you a car until they send you an MVPA and you sign it.

    Having said that, there's nothing Tesla can do if person A buys a car, then turns around and sells it the next day on ebay. But the second buyer loses the tax rebate and possibly state rebates as well.
     
  10. jerry33

    jerry33 S85 - VIN:P05130 - 3/2/13

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    And even if it wasn't, the way Tesla batches the cars means there's no assurance that your number will come sooner than some other number.
     
  11. Zzzz...

    Zzzz... Member

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    Slots were successfully sold on ebay. One on sale now. And there was couple cases on this forum people advertising slot sale.

    OP could buy this one: Tesla : Model S Sedan in Tesla | eBay Motors

    Configure car to his liking and get it delivered to address of his choice(200 miles around NY at no extra cost). Plus there are already configured and delivered Signatures that you can get there...
     
  12. swaltner

    swaltner Member

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    Sure, Tesla could pay you the going rate for putting that money in a savings account. My bank is currently paying me 0.05% APR interest. So, if I had my $5000 reservation with Tesla for six months, they would owe me $1.25 in my lost interest ($5000 * 0.0005 / 12 * 6). They can keep the $1.25 in interest since they would be buying a stamp to mail me a check.
     
  13. alset

    alset Member

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    I got my slot transferred to me from my brother-in-law with minimal fuss and no "proof of family" paperwork. So it seems like they are okay with it.
     
  14. herbie731

    herbie731 Member

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    Can you contact me please? I'd like to see how you did it. herbie731 @ gmail.com

    I was told that they are NOT doing this, unless we can "prove" our case.
     
  15. newlookproperty

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    Dont have a reservation, so i dont know the inside info about the rules or what was signed. I did call IRS and it seems that $7500 tax credit will apply to the person that first put the car "in use". The IRS reg also states that it credit cant be used for someone who bought the car for resale. Between the two I am personally comfortable that someone can buy the car and then sell it to someone the same day, and not have a problem with 2nd owner being the one to take the tax credit. Its not like IRS matches Tesla orders to tax returns. You could both "try" to take the credit on your tax return, but only the 2nd person who actually registered and used the car would be legit. As far as sales tax, a dealer usually collects it based on the buyers address at time or purchase. If Tesla collects sales tax at delivery, when the 2nd person goes to register the car where they live, they technically would owe it again. The car has been "resold". It would seem easy to just put it in the 2nd owners name in the first place, but it seems you may need Tesla cooperation to put title in a name other than reservation holders name. Does anyone know the sales tax law that dictates when it is due with cars. I wouldnt be suprised if the first person who registers it is who owes tax, in which case its no problem. But since you can buy a car and never register it (like a collector) that doesnt mean you dont pay sales tax, so who knows.
     
  16. v12 to 12v

    v12 to 12v Active Member

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    This is what the reservation agreement says about Transferability:

    "Deferral and Non-Transferability
    If you do not wish to enter into a Purchase Agreement at the time that you are contacted by Tesla, you have the option to relinquish your reservation sequence position and defer to a later position to be determined by us (only one deferral is permitted). If you do not communicate your decision to us within ten (10) days of notification under paragraph 4, you will automatically be granted such a deferral. This Agreement is not transferable or assignable to another party without the prior written approval of a Tesla authorized representative."
     
  17. herbie731

    herbie731 Member

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    We have all read it, several times. The point is, it's BS. And they do mention that "written approval" is required and several people have been successful doing this. The problem is the greedy people that went on eBay to advertise their reservation for sale. Otherwise this wouldn't be an issue. Tesla wants to me the only ones profiting from this format/product.
     
  18. NigelM

    NigelM Recovering Member

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    If it's really just BS, just go ahead and do your transfer. Unfortunately no-one at TMC is in a position to give you permission and you should probably address Tesla directly.
     
  19. herbie731

    herbie731 Member

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    Not looking for permission. Looking for a way to do this correctly, efficiently and above the table.

    The problem is if someone took delivery and sold the vehicle, it would be taxed twice - correct? (Once on the original purchase and once when sold the 2nd time). Can anyone confirm this? When you take delivery of the vehicle are you charged tax or not until it's registered?
     
  20. NigelM

    NigelM Recovering Member

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    Please see the post #15 above.

    It may also be helpful to you to read through the other threads in the Tesla-for-Sale sub-forum, where there are others offering to buy/sell Model Ss.
     

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