Author Topic: Ordered a Tesla during NJ deal. Don't need it.  (Read 2780 times)

Offline dealover23

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Ordered a Tesla during NJ deal. Don't need it.
« on: August 23, 2022, 03:46:35 AM »
Hi All,

I ordered a Tesla late last year and should have the 5k NJ credit.

https://www.dansdeals.com/shopping-deals/1-day-left-new-jersey-residents-can-order-tesla-possibly-double-dip-5000-state-rebate-future-federal-rebate-get-tesla-22k-27k/

Things changed in my life since the order and I don't need the car. I tried figuring things out but they are so confusing.

- Can I transfer my reservation to someone else or would I need to purchase and then sell (assuming it makes sense to do so)
- Is this order worth anything (I assume the 5k has value and the "cheaper" price at the time

Any insights would be greatly appreciated.

Thanks!!

Online avromie7

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #1 on: August 23, 2022, 06:16:38 AM »
Hi All,

I ordered a Tesla late last year and should have the 5k NJ credit.

https://www.dansdeals.com/shopping-deals/1-day-left-new-jersey-residents-can-order-tesla-possibly-double-dip-5000-state-rebate-future-federal-rebate-get-tesla-22k-27k/

Things changed in my life since the order and I don't need the car. I tried figuring things out but they are so confusing.

- Can I transfer my reservation to someone else or would I need to purchase and then sell (assuming it makes sense to do so)
- Is this order worth anything (I assume the 5k has value and the "cheaper" price at the time

Any insights would be greatly appreciated.

Thanks!!
You can't transfer the credit, and IIUC you lose the credit if you sell the car within 3 years.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline joe1234

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #2 on: August 23, 2022, 10:04:24 AM »
username checks out

Offline JM

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #3 on: August 23, 2022, 10:33:13 AM »
You can transfer the reservation with a workaround. How much are you looking for for the car?

Offline dealover23

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #4 on: August 23, 2022, 11:03:28 AM »
I didn't purchase it to make a profit so not really sure. I put $250 down so if I can recover that and if there is value that I can split where I and someone else gains, would be great.

Offline yeshivabucher

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #5 on: August 23, 2022, 11:41:19 AM »
I didn't purchase it to make a profit so not really sure. I put $250 down so if I can recover that and if there is value that I can split where I and someone else gains, would be great.
there is a decent amount of money in it like 10k over what you are paying for it definitely worth getting and sending it to an auction or find a private buyer to buy it now

Offline elazarmn

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #6 on: August 23, 2022, 11:55:33 AM »
there is a decent amount of money in it like 10k over what you are paying for it definitely worth getting and sending it to an auction or find a private buyer to buy it now
Yup, did that twice already. easy money :)

Offline simplicity

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #7 on: August 23, 2022, 12:05:57 PM »
Yup, did that twice already. easy money :)
you obviously haven't been in the business recently, there is no 10k anymore due to the market drop

Offline JM

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #8 on: August 23, 2022, 12:23:21 PM »
you obviously haven't been in the business recently, there is no 10k anymore due to the market drop

When did the market drop? I see M3 SR+'s with miles going for 55k...

Offline yeshivabucher

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #9 on: August 23, 2022, 12:27:54 PM »
you obviously haven't been in the business recently, there is no 10k anymore due to the market drop
helped my brother with it literally last week was 10k profit

Offline jj1000

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #10 on: August 23, 2022, 12:55:49 PM »
helped my brother with it literally last week was 10k profit
Sounds like you and OP should PM and make some money together  :))
See my 5 step program to your left <--

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Offline yeshivabucher

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #11 on: August 23, 2022, 01:31:22 PM »
Sounds like you and OP should PM and make some money together  :))
update for LR are going for 58k at auction finding out what base are going for

Offline elazarmn

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #12 on: August 23, 2022, 03:31:19 PM »
you obviously haven't been in the business recently, there is no 10k anymore due to the market drop

not sure what your talking about, Neighbor of mine just sold his Model 3 for 8k over Msrp with 15k miles.

he did wait to find the shmoe that would want to pay so much instead of waiting for delivery but still sold under a month!

Offline dealover23

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #13 on: August 23, 2022, 04:32:01 PM »
So he paid for it cash, and sold it cash? What about sales tax/registration fees? Isn't sales tax charged every time one sells?

Offline JM

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #14 on: August 23, 2022, 04:38:03 PM »
So he paid for it cash, and sold it cash? What about sales tax/registration fees? Isn't sales tax charged every time one sells?

No sales tax on Tesla in NJ. Why does it matter if it he paid cash or not? If he financed he just pays the balance of the loan...

Offline dealover23

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #15 on: August 23, 2022, 04:42:43 PM »
OK, so in your opinion, it's a no-brainer to buy and flip it? Also, wouldn't the next buyer lose the incentives (and if so, wouldn't it make buying a "used" car not worthwhile)?

Offline JM

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #16 on: August 23, 2022, 04:46:31 PM »
OK, so in your opinion, it's a no-brainer to buy and flip it? Also, wouldn't the next buyer lose the incentives (and if so, wouldn't it make buying a "used" car not worthwhile)?

Depends your risk tolerance. You can transfer the reservation for $1k-$2k - no monetary risk involved in that (aside from Tesla potentially cancelling the order) or you can take delivery and try to flip where there is risk but potential upside.

What incentives are you referring to?

Offline dealover23

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #17 on: August 23, 2022, 04:49:21 PM »
Referring to gov't incentives. I got the 5K NJ incentive which I believe is not transferable and the federal EV tax incentive.

Offline JM

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #18 on: August 23, 2022, 04:50:37 PM »
Referring to gov't incentives. I got the 5K NJ incentive which I believe is not transferable and the federal EV tax incentive.

NJ credit is now only $2k and federal incentive isn't only for cars delivered after 2023

Offline dealover23

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Re: Ordered a Tesla during NJ deal. Don't need it.
« Reply #19 on: August 23, 2022, 04:55:56 PM »
Right, so if I would've bought it for myself (which was the orig plan) I would've gotten 5K off from NJ as you can see from the screenshot. A different buyer will lose this (bat can get if they buy themselves, so how would it pay to buy from me. Sorry, just don't get how this all works.