Thought experiment:
TL;DR: Guy with Foundation Series Cybertruck offer adds Person#2 to title as Joint Owner; finalize "sale" to Person#2 in 12 months.
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I'm a former Econ prof, and we often engage in "thought experiments". So let's do one together:
Limited-edition Foundation Series offers to order a Cybertruck are out to many persons.
Some will, of course, just execute the deal; pay the above-website price, and own a Foundation Cybertruck. Cool.
Say someone ("Alan")—who has been offered a Foundation Series order—does NOT have the $$$, nor desire, to execute & buy the Foundation Cybertruck.
And, assume Alan wants to stay on the right side of Tesla, and the contract requirement to not resell the vehicle in <12 mos. (not get sued by Tesla)
So, we assume that the reservation holder's name, "Alan Smith", WILL BE on the title, and stay there for a year.
... but possibly with a joint owner, as is standard in Tesla deliveries.
Now, hypothetically, Tesla would have no problem jointly titling the car in Alan's name plus one other. This may typically be a spouse; but in today's America, it need not be.
Say Alan asks if anyone else would like to MOSTLY own a Foundation Series Cybertruck, for Jan/Feb 2024 delivery, and pay for MOST of it, and use it MOST of the time.
("MOST" is TBD between the two of them; but could be, say, 90 or 95% or more).
Say "Bob" comes along, did not reserve a Cybertruck, wants one badly. Wants an early Cybertruck very much (for whatever reason.)
Now if Bob wouldn't mind holding title jointly with Alan for the first year,
... knowing Bob would hold possession, pay for MOST of it, obtain insurance, pay registration & license, garage it, modify it (or not), etc., and
accept a firm property transaction from Alan to xfer title to Bob completely in 12 months.
(say a quit claim contract dated 12 mos. out plus an agreement to sell any residual joint ownership interest & remove self from title)
Bob might agree to let Alan drive it a few days; or even have it one time for a week or two during year one, along the lines of a Turo "car-sharing" rental agreement.
For purposes of the thought experiment, assume both Alan and Bob have excellent reputations; credit scores above 800; $50k or 100k in the bank; own their homes; both currently own other Teslas, and those are in excellent condition and well taken care of.
Title would be a standard joint-owner title that Tesla does in a large percentage of their deliveries: "Bob Cooper and Alan Smith, joint owners"
Now, say Bob and Alan reach an amicable agreement, along these lines, to co-own a Cybertruck: limited use by Alan; it's mostly Bob's truck, from the beginning.
(Note: from a logical point of view, this is not unlike most marriages where one spouse is the primary user of a jointly-owned vehicle, and the other uses it very little.)
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Questions:
1) would Tesla have any valid legal issue with this sort of arrangement?
NOTE: Alan would be still an owner, on the title, for at least 12 months.
Attorneys are welcome.
2) would Tesla be likely to ever even know???
3) what is the biggest risk to Alan?
4) what is the biggest risk to Bob?
5) a) how likely is it that one or more such "Alan's" exist in the US?
b) how likely is it that one or more such "Bob's" exist in the US?
Have fun THINKing.
TL;DR: Guy with Foundation Series Cybertruck offer adds Person#2 to title as Joint Owner; finalize "sale" to Person#2 in 12 months.
—————————————————————————————————————————————
I'm a former Econ prof, and we often engage in "thought experiments". So let's do one together:
Limited-edition Foundation Series offers to order a Cybertruck are out to many persons.
Some will, of course, just execute the deal; pay the above-website price, and own a Foundation Cybertruck. Cool.
Say someone ("Alan")—who has been offered a Foundation Series order—does NOT have the $$$, nor desire, to execute & buy the Foundation Cybertruck.
And, assume Alan wants to stay on the right side of Tesla, and the contract requirement to not resell the vehicle in <12 mos. (not get sued by Tesla)
So, we assume that the reservation holder's name, "Alan Smith", WILL BE on the title, and stay there for a year.
... but possibly with a joint owner, as is standard in Tesla deliveries.
Now, hypothetically, Tesla would have no problem jointly titling the car in Alan's name plus one other. This may typically be a spouse; but in today's America, it need not be.
Say Alan asks if anyone else would like to MOSTLY own a Foundation Series Cybertruck, for Jan/Feb 2024 delivery, and pay for MOST of it, and use it MOST of the time.
("MOST" is TBD between the two of them; but could be, say, 90 or 95% or more).
Say "Bob" comes along, did not reserve a Cybertruck, wants one badly. Wants an early Cybertruck very much (for whatever reason.)
Now if Bob wouldn't mind holding title jointly with Alan for the first year,
... knowing Bob would hold possession, pay for MOST of it, obtain insurance, pay registration & license, garage it, modify it (or not), etc., and
accept a firm property transaction from Alan to xfer title to Bob completely in 12 months.
(say a quit claim contract dated 12 mos. out plus an agreement to sell any residual joint ownership interest & remove self from title)
Bob might agree to let Alan drive it a few days; or even have it one time for a week or two during year one, along the lines of a Turo "car-sharing" rental agreement.
For purposes of the thought experiment, assume both Alan and Bob have excellent reputations; credit scores above 800; $50k or 100k in the bank; own their homes; both currently own other Teslas, and those are in excellent condition and well taken care of.
Title would be a standard joint-owner title that Tesla does in a large percentage of their deliveries: "Bob Cooper and Alan Smith, joint owners"
Now, say Bob and Alan reach an amicable agreement, along these lines, to co-own a Cybertruck: limited use by Alan; it's mostly Bob's truck, from the beginning.
(Note: from a logical point of view, this is not unlike most marriages where one spouse is the primary user of a jointly-owned vehicle, and the other uses it very little.)
—————————————————————————————————————————————
Questions:
1) would Tesla have any valid legal issue with this sort of arrangement?
NOTE: Alan would be still an owner, on the title, for at least 12 months.
Attorneys are welcome.
2) would Tesla be likely to ever even know???
3) what is the biggest risk to Alan?
4) what is the biggest risk to Bob?
5) a) how likely is it that one or more such "Alan's" exist in the US?
b) how likely is it that one or more such "Bob's" exist in the US?
Have fun THINKing.
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