Selling My R1T March/April Delivery Reservation
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I'm very interested, sent you a DM.
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10K premium still less than RJ's price hike.
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Even pre-price hike. The wheel option is $1500, the paint is unavailable but let's say $1500. It's really only a $6,000 premium to the original price.
As long as this isn't a scam, this is a very good offer.
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This might not come up until the reservation comes up for order in which case the buyer of the reservation is big loser.
13. Assignment
You may not assign your rights under these Terms without our express prior consent. Rivian may assign these Terms or your Preorder Fee in our discretion without your consent. Any assignment in violation of this Agreement will be null and void.
14. No Resellers; Discontinuation; Cancellation
Rivian and its affiliates may unilaterally cancel any Preorder that we believe has been made with the intent to resell the Vehicle or otherwise has been made in bad faith. Rivian may also cancel your Preorder if a vehicle, product, feature, or option is discontinued after you place your Preorder.
13. Assignment
You may not assign your rights under these Terms without our express prior consent. Rivian may assign these Terms or your Preorder Fee in our discretion without your consent. Any assignment in violation of this Agreement will be null and void.
14. No Resellers; Discontinuation; Cancellation
Rivian and its affiliates may unilaterally cancel any Preorder that we believe has been made with the intent to resell the Vehicle or otherwise has been made in bad faith. Rivian may also cancel your Preorder if a vehicle, product, feature, or option is discontinued after you place your Preorder.
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Despite the agreement, you can always ask. According to the agreement, it's a no but that doesn't mean there aren't ways around it either.
In the past I have worked with a traditional dealer to flip my reservation where I had an inbound car and they had a long time customer who wanted it now. But in that situation I'm essentially taking delivery, then trading it in, then they sell it to their long term buyer. The trade in means there's no sales tax (in my state) and I'm given a value higher than all my costs to place a new order and issue a refund for the difference, they make more money by uncharging their other customer, all 3 parties win.
There's no dealer in this situation but you could certainly buy then sell to your friend. The problem is..you'd still technically be breaking the agreement as you'd be continuing your pre-order with the intention to resell.
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A bit different due to the $10k available to EV buyers. You took delivery and the person purchased a used car from the dealer. No way to stop that. Expect it will happen a lot since there is a price differential that is greater than the tax break but the IRS forbids applying for the credit without planning to use the car. So people do risk the chance of duking it out with the IRS on such schemes.
"The vehicles must be acquired for use or lease and not for resale."
This is selling a Rivian reservation prior to car being built which Rivian, correctly, forbids per the agreement with those making $1k PreOrders.
People are waiting in line for the product and, per the agreement, have a reasonable expectation that it is an honest and fair system.
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No different really...I never took delivery of my Taycan. As you stated, I was not able to take the credit for it according to the rules for the IRS. If you file it, you run the risk of the IRS coming after you, especially if the actual buyer attempts to file for the credit as well. When you file for the credit, it will ask you for the VIN number. So if both of you file, it will flag.
But as you pointed out, you can't "flip" it and be eligible. So it's best to not file it in that situation. As long as you don't file for the credit; the IRS doesn't care if you flip the car. It's more of an issue as to whether Rivian will come after you for breaching agreement.
Just treat it the same as flipping an ICE vehicle (ie, no tax credit) and it's exactly the same.
This is a YMMV situation as state tax laws and each individuals situation varies. In my situation, I was compensated at a healthy premium and while I don't know the actual buyer, it doesn't seem they had any concerns about their means to purchase the vehicle at a premium.
Is it a good idea to engage in a risky scheme to then have the IRS tracking you down?
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No, that's the point. Don't file the tax credit. The IRS doesn't care if you purchase and sell vehicles. There's no requirement to take the $7500 tax credit. The purchase of a new EV is eligible, not mandatory for a $7500 tax credit.
If you flip the vehicle and you take the credit, you are committing tax fraud which is a crime. If you flip the vehicle and you don't take the credit, no crime.
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Thanks for the discussion! To be very clear: both my buddy and I have a pre 3/1 pre-order, he's not charging me more for the transfer, I am not trying to screw the system, but want to drive the Rivian and get the possibility of my tax credit. Apparently the only / easy way is to change the pre-order in the system to my name, email and phone number.
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unfortunately that can’t be done. You can’t change name or number. Someone else sold their reservation and rivian said they don’t care who controls the account. They are only going to sell to the person who created the account. Also you are screwing the system. Wait in line like everyone else. If your friend don’t want it anymore then cancel so the line will move faster.
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As a datapoint an owner was selling their R1T (300 miles) for $110K plus...
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Be interesting how all these "sales" will play out. I suspect the "buyers" will be out whatever they spend for the reservation the seller does not own. The seller's who will have the choice to buy or not when the reservation comes up could sell the vehicle to the "buyer" less the $10k +/- they received or not. The buyer would be out whatever they paid for the reservation plus the $10k(?) in EV tax credits only available to original buyer.. That pretty much covers the price increase.
So new price for sooner delivery. Might be worth it to someone with a post March 1 order.
www.rivianownersforum.com
So new price for sooner delivery. Might be worth it to someone with a post March 1 order.
Rivian: We do not allow the transference of preorders at...
Received a reply from Rivian on the buying and selling of preorder transfers. Thank you for reaching out to the Customer Engagement Center. We are happy to be here to help you along your journey with Rivian. We do not allow the transference of preorders at this time. We have no formal process...
www.rivianownersforum.com
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