Selling reservation?

[Mike TDM]

If you look at the spreadsheet of deliveries here on the forum you will see quite a few Q4 2021 reservations already enjoying their trucks. Seems crazy but it’s happening.

Not for me, yet! s00n I hope.

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[COdogman]

Not for me, yet! s00n I hope.

Hopefully!

 

[COdogman]

I actually counted 53 deliveries to those who reserved in Q4 or later.

 

[jakef801]

FWIW, here's what my CPA said about the tax credit & resale:

You must keep the truck for at least 3 years to avoid paying back the credit. If you sell or dispose of it before a year you must repay 100%, 2 years 66.66%, 3 years 33.33%.

 

[shrink]

FWIW, here's what my CPA said about the tax credit & resale:

You must keep the truck for at least 3 years to avoid paying back the credit. If you sell or dispose of it before a year you must repay 100%, 2 years 66.66%, 3 years 33.33%.

I don’t think that’s true at all.

Your purchase applies to the pre-Inflation Recovery Act rules since Rivian’s final assembly is in the US and the only thing it says is this:

Internal Revenue Code Section 30D
https://www.irs.gov/businesses/plug-in-electric-vehicle-credit-irc-30-and-irc-30d

“The vehicles must be acquired for use or lease and not for resale. Additionally, the original use of the vehicle must commence with the taxpayer and the vehicle must be used predominantly in the United States.”

There is absolutely in there about having to keep a vehicle X number of years and nothing written about a reduced credit if you sell within 3 years.

It’s quite easy to argue you acquired the vehicle for use. It’s also okay to change your mind, sell it, and keep the credit because you originally acquired the car for personal use.

I’ve been dealing with this EV tax credit since 2011. Maybe people would sell well before 3 years and keep the full credit. Unless one claims dozens of these credits per year, it’s very hard to prove initial acquisition was for resale rather than personal use.

I know it’s generally a bad idea to listen to some rando on a message board vs a CPA, but your CPA is this case is wrong.

 

[jakef801]

I don’t think that’s true at all.

Your purchase applies to the pre-Inflation Recovery Act rules since Rivian’s final assembly is in the US and the only thing it says is this:

Internal Revenue Code Section 30D
https://www.irs.gov/businesses/plug-in-electric-vehicle-credit-irc-30-and-irc-30d

“The vehicles must be acquired for use or lease and not for resale. Additionally, the original use of the vehicle must commence with the taxpayer and the vehicle must be used predominantly in the United States.”

There is absolutely in there about having to keep a vehicle X number of years and nothing written about a reduced credit if you sell within 3 years.

It’s quite easy to argue you acquired the vehicle for use. It’s also okay to change your mind, sell it, and keep the credit because you originally acquired the car for personal use.

I’ve been dealing with this EV tax credit since 2011. Maybe people would sell well before 3 years and keep the full credit. Unless one claims dozens of these credits per year, it’s very hard to prove intentional acquisition was for resale rather than personal use.

I know it’s generally a bad idea to listen to some rando on a message board vs a CPA, but your CPA is this case is wrong.

Maybe it was a late night response from him and he forgot that I purchased before the IR Act. I'll double back with him.

 

[texasBuzzard]

lol why are you calling that crazy? $100k is basically the new MSRP for the R1T quad motor and it has a wait list. A ton of people would be willing to pay over MSRP to skip the line.

I just picked up my R1T last week (ordered in March 2021) and my guide sent me a message yesterday that the R1S I ordered for my wife in November 2021 is almost ready!! I don't have the down payment for that now (since I just put it down on the R1T) and do not want two huge car payments. However, we are locked in for the pre-March price of ~$76,000. So if I cancel and wait till I am ready, then the R1S will be almost $95,0000 for the current configuration I have. (first world problems, I know). So not sure what to do. I guess I will purchase it with the lowest down payment possible and then try and sell it. Autotrader? Where would you even list it? Then you have to worry about the scammers.

 

[shrink]

I just picked up my R1T last week (ordered in March 2021) and my guide sent me a message yesterday that the R1S I ordered for my wife in November 2021 is almost ready!!

Sorry to get off topic, but seriously!? Wow! That seems really early for an R1S reservation made in 11/2021.

In fact, that’s when I made my R1S reservation and I’m planning on that arriving much later. I’m about to pay for my R1T in full and will be depleted if my R1S is ready soon. That car is marked for Hawaii anyway so I think that’ll buy me the time I need since there’s no service out there yet.

 

[texasBuzzard]

Sorry to get off topic, but seriously!? Wow! That seems really early for an R1S reservation made in 11/2021.

In fact, that’s when I made my R1S reservation and I’m planning on that arriving much later. I’m about to pay for my R1T in full and will be depleted if my R1S is ready soon. That car is marked for Hawaii anyway so I think that’ll buy me the time I need since there’s no service out there yet.

That is why I brought it up!! I was expecting November of 2023 at least, maybe longer. My wife is still enjoying her current car and is not ready either. The factory must be cranking them out. Going to call and tell them to move me down the list if that is an option.

 

[Egen]

That is why I brought it up!! I was expecting November of 2023 at least, maybe longer. My wife is still enjoying her current car and is not ready either. The factory must be cranking them out. Going to call and tell them to move me down the list if that is an option.

I just sent you a DM about your R1S

 

[JustBarely]

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.

I agree it sounds silly to us but some folks might literally be at the edge of their pricing. After having it for a few months, I dont know what I would have replaced it with.

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