Selling reservation?

[HTownB]

Think I’m gonna have to sell my reservation, mainly because I don’t think I’m gonna qualify for the tax credit. How does one go about selling a reservation? I haven’t gotten a delivery window yet but order from Q4 2021 so locked into the old pricing arrangement.

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[crashmtb]

You don’t. Rivian isn’t allowing name changes.

eother cancel it, or take delivery of the truck and sell it immediately.

 

[Ladiver]

I don’t think it’s possible. Rivian has tightened up the transfer policy. Your choice is to let it go or complete purchase and flip.

 

[COdogman]

If you are locked into the old pricing you should do everything you can to go through with the purchase and sell it. There are people who ordered in Oct, Nov 2021 taking delivery of trucks already so change your configuration to what Rivian is able to make and I bet you could make yourself a little bit of money selling the truck while values are still high.

 

[cohall]

Your options are cancel or flip.

Flip is certainly better if you're able to float the cash for a month or two

 

[HTownB]

Ok. How much longer do you think the crazy pricing hangs on? I see them being listed for over $100k, which seems crazy.

 

[Trekkie]

not much longer if the fed guys have their way, they'll make the loan on cars back up to 8% again.

Not getting a R1T/S because of the $7500 potential credit is silly when you're getting a $20k credit IMHO.

 

[ERguy]

Years. I don't see this changing until after the wait list is shortened to just a few months.

Since you reserved at the original price, that pretty much ensures you can sell for a small profit even if demand subsides.

Somebody wanting a quad motor R1T has the option of reserving one now for a minimum of $87k and likely waiting more than a year, or simply purchasing your truck and jumping straight to the front of the line.

There is no shortage of people willing to pay an extra $10k-$15k or more to get a truck immediately.

 

[electruck]

As a selfish shareholder, I would encourage you to cancel and allow Rivian to sell it to someone else at the new, higher price.

 

[COdogman]

Ok. How much longer do you think the crazy pricing hangs on? I see them being listed for over $100k, which seems crazy.

No way to know for sure, but my guess is these resale prices will look the same for at least another year or more. Rivian has 98,000 reservations right now. Until they are really producing a bunch of vehicles that creates a pool full of impatient buyers, many of whom are well off enough to spend the extra money to get a truck they want asap.

Obviously there are other factors like other carmakers releasing electric trucks those people could buy as alternatives, lowering demand. Also the more trucks Rivian puts out there, there will be build issues (hello tonneau cover and glass roof) that pop up and that could very well change the perception of quality and what the trucks are worth. I still think the R1T/ S are unique enough that won’t be a huge factor unless there are major issues, but it’s possible. Plus, even the legacy manufacturers struggle with this too. Look at Ford’s issues with the Mach E and GM’s problems with the Hummer.

I look at the pre 3/1 as a 20% credit we were given. The EV credit is just a nice little addition to that. If you really don’t think you can swing it, I would still try hard to take delivery and at least capitalize on getting the old pricing.

 

[R1Sky Business]

Ok. How much longer do you think the crazy pricing hangs on? I see them being listed for over $100k, which seems crazy.

Not crazy at all....$100K is common well equipped new price

 

[jakef801]

Not being a CPA, just wondering if I were to flip the Rivian, would I still qualify for the $7500 tax credit (price was just under $80k)? I would assume I would and that the new buyer could qualify for the used $4000 tax cred. I've written my CPA with the same question, but figured I'd pose it here as well. Thanks

 

[odingrey]

Not being a CPA, just wondering if I were to flip the Rivian, would I still qualify for the $7500 tax credit (price was just under $80k)? I would assume I would and that the new buyer could qualify for the used $4000 tax cred. I've written my CPA with the same question, but figured I'd pose it here as well. Thanks

From what I understand from third hand knowledge is you only qualify for the credit if you plan on keeping the vehicle. No clue what that means, or even if it's true, but I've been under the impression that flippers don't qualify for the credit.

 

[jakef801]

From what I understand from third hand knowledge is you only qualify for the credit if you plan on keeping the vehicle. No clue what that means, or even if it's true, but I've been under the impression that flippers don't qualify for the credit.

Thanks. We'll see what my CPA has to say and I'll share when I hear back from him.

 

[mini2nut]

Keep. Flip. Reap the profit.

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