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Service if tesla goes bankrupt within six months

Discussion in 'Tesla Motors' started by wassenberg, Aug 19, 2012.

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  1. Norbert

    Norbert TSLA will win

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    This discussion makes me wonder if the TSLA short interest is going to increase above 30 Million. How high can it go?
     
  2. dmckinstry

    dmckinstry Model S - U.S. P - #1649

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    It's the end of the current Mayan calendar this Dec. Anyway, I personally would worry more about the world ending than Tesla failing in the next 6 months, and I don't really worry about either of them.
     
  3. vfx

    vfx Well-Known Member

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    Service if gm goes bankrupt within six months

    What about the service on our volt when gm not makes it in "next crutial six months" ?

    Does the computer in the car still gets update's ? What if there is an software problem ?

    what if.....what if.....​
     
  4. SCW-Greg

    SCW-Greg Active Member

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    Exactly! Might as well go out with a bang.
    And Larry nailed it too with early adopter mind set.
    Actually... all good responses in this thread.
     
  5. daniel

    daniel Active Member

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    I'm late to this thread. But...

    If Tesla goes bankrupt and nobody else buys the company and accepts the warranty obligations there may be no service for the cars. It's a risk. I considered that when I bought my Roadster, and I dismissed it as extremely unlikely. OTOH, the people who laid out $5,000 reservations for the Roadster when it was still under development took a real risk. It was touch and go for a while. I recall back in 2004 when Prius buyers crowed about being pioneers (for buying a car whose technology had been on the road for 7 years, from a solid company with a long track record). The people who bought the first Roadsters were pioneers. Today the chances that Tesla will fail and leave car owners stranded is small, but nobody who finds that possibility worrisome should buy a Model S. There are plenty of eager buyers. It's a risk-benefit equation: All the benefits of owning the car vs. the risk of failure. Lots of people advocated waiting until 2005 to buy the Prius, but I didn't want to wait a year to own such a cool car. (It was cool back then!) But I'm glad I waited until last year to buy my Roadster because there were numerous improvements.

    So on the Model S, reasons for delaying purchase would be possible improvements in the next year or two, and a greater level of confidence in the company (if you still think they might fail); and the main reason for not delaying would be that if you delay you lose a year (or more) of driving an amazing car.

    Caveat: I'm not buying a Model S: It's too big a car for me, and I don't need another electric car. The Roadster is all the electric car I need.
     
  6. dsm363

    dsm363 Roadster + Sig Model S

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    I believe the original Roadster owners put down the entire cost of the car and waited for 2 years! I think that's correct. That's definitely taking a risk. There is always a risk Tesla could go under but we'll know a lot more by next summer I think how things are shaking out.
     
  7. ryanjm

    ryanjm Tesla Podcast Host

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    Speaking as a 12-year DeLorean owner (and hopefully future Tesla owner), it's a bit of an apples-to-oranges comparison. The DeLorean was built with 99% off-the-shelf parts (Volvo-sourced engine, Bosch fuel injection system, etc.) and when the company went under there was a massive stockpile of parts to keep the owners going for many, many years. Today, it's actually very easy to own a DeLorean, service-wise, because the original stash of parts is still strong and those bits and pieces that have run out have been re-manufactured. Heck, you can go to delorean.com right now and order any part you want straight off of the website.

    Model S, however, according to that recent interview with Elon, is 98% new parts. And the heart of it all is 100% proprietary, unlike, say, the DeLorean's PRV-6 engine. I suspect the orphaned Model S owners, being an extremely intelligent and resourceful bunch if the people on this forum are anything to go by, would find a way to get by, but due to the custom/proprietary nature of EVERYTHING in a Model S, I think the situation would be much more difficult and different for owners if Tesla went out of business than it was/is for DeLorean owners.

    Like others, though, I don't see that happening. And for all you conspiracy theorists, Detroit no longer has the clout to try and run a company like Tesla out of town the way they did with Tucker and, to a lesser extent, DeLorean.
     
  8. bonnie

    bonnie Oil is for sissies.

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    We don't have any conspiracy theorists on THIS forum. You must be thinking about another forum.

    :)
     
  9. brianman

    brianman Burrito Founder

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    The internet has changed a lot when it comes to information and technology sharing as well. You don't have to find the "20 guys that know" scattered across the globe, when a company folds. You just have to find somebody that knows somebody and then soon after everybody goes to some website that has all the data. It's quite remarkable.
     
  10. daniel

    daniel Active Member

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    I think maybe we're both wrong. Wasn't it $50,000? Refundable, as long as the company didn't go bust.
     
  11. donauker

    donauker Member

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    The first 100 (Signature 100) where 100% ($100k) down. After that there was a period of $75K down and then somewhere around 200 reservations it dropped to $50K down.
     
  12. NEWDL

    NEWDL R#350 R#1323 Sig23 8136

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    It was a bit muddier than that but I would say that w/o getting too overly complicated that is VERY close.
     
  13. neroden

    neroden Happy Model S Owner

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    If Tesla goes bankrupt, you should feel free to violate the clause in the purchase agreement which says that you agree not to reverse-engineer the car. (Which is a pernicious clause anyway, but US courts have tended to enforce pernicious, monoopolistic clauses lately; we could use a Teddy R. to bust the monopolies again.) But anyway, if Tesla goes bankrupt, they won't be able to sue you for reverse-engineering their car, so do it, and then you'll be able to get it repaired.

    :)

    Edit: I'm not including the case where they go bankrupt and then get bought up by someone else, in which case you will have service from whoever buys them. I'm talking about the very unlikely case where somehow they go into chapter 7 and sink with their trade secrets stil secret.
     
  14. vfx

    vfx Well-Known Member

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    That second part is not exactly right but it's all fuzzy now. I do know that we only put down 30K

    (and waited 2 years).
     
  15. donauker

    donauker Member

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    Yup, it was 50k for "impatient" types and 30k for the "patient" ones that where willing to wait till after all the impatient ones got theirs. Impatient didn't work all that great, still got to wait 2 years minus 1 month.
     
  16. vfx

    vfx Well-Known Member

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    We were delivered 9 days short of 2 years.
     
  17. bonnie

    bonnie Oil is for sissies.

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    Then there were the upstarts (like me) who put down $10k and waited 3 months. That's why I don't refer to myself as an early adopter. You guys won that title, hands down.
     
  18. donauker

    donauker Member

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    Ha,ha still remember the day you came clean on the reserve.
     
  19. bolosky

    bolosky Member

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    I did the same thing as Bonnie, putting down $10K in April, 2009. I waited until then very much on purpose, because I was worried about the company failing holding my deposit. By the time I finally made the decision, it was clear that Tesla was over the hump of being able to produce Roadsters, and I figured I was pretty likely to actually get my car.

    Back in the old days, if you read the legal language about reserving a Roadster, that isn't even what you were doing. You were instead joining the "Tesla Roadster Club" for $30K or $50K, which entitled you to buy a car. That language completely scared me, it read like something a lawyer would come up with if they wanted to make sure you didn't have a claim in a bankruptcy. "We didn't owe him a car! He bought a membership in the Roadster Club, and he's a member in good standing, so our obligation is fulfilled!" Having this go away was another reason that I waited as long as I did to order my Roadster.

    Check out the form, courtesy of the wonderful Wayback Machine: http://web.archive.org/web/20071011125753/http://www.teslamotors.com/display_data/reservation_agreement.html.
     
  20. daniel

    daniel Active Member

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    Clearly, the term "early adopter" is relative. Many buyers of the 2004 Prius called themselves "pioneers" and "early adopters" even though there were only tweaks in the drive train and a new body style from the 1997 (Japan) and 2001 (USA) Prius. I consider myself an early adopter for buying a Zap Xebra in 2007, even though they had come out a year earlier. I was one of the last to get a Roadster, but still the first one on my block. :wink: Late to the Roadster, but early to Tesla, for buying their first-ever car.

    Of course, people who leased the EV1 or bought the original Rav4EV new, were more than a decade ahead of all of us! :eek:
     

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