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Transfering a reservation

Transfering a reservation

I know someone with a reservation that has just kicked over to "ready to build" or at least they got the email. He can no longer afford the car. Can the reservation be transferred in some way?

KendallPB | January 13, 2013

This has been asked before; the short answer is no.

jat | January 13, 2013

You can cancel your reservation and get your money back. At this point, there isn't a lot of value in the reservation itself, assuming you could actually transfer it, compared to when it could be a car you would get in November.

There are many threads about people trying to sell a reservation slot, but the consensus is he would have to take delivery and then sell the car, which means you lose the tax credit.

ziggy | January 13, 2013

Right, not what I want at all. I will stick with the slow but steady, legit route.

jk2014 | January 13, 2013

If you you signed the agreement, you will not get your money back.

jat | January 13, 2013

@jk2014 - if he just got the "time to build" mail, then he isn't at that point yet. Presumably he wouldn't sign the MVPA making his deposit non-refundable if he didn't intend to buy it.

rlpm | January 13, 2013

@ziggy: reservations are not transferable, as others have said. But he can cancel, get his money back, and let the reservation holders after him move up just a bit in the queue.

alfafoxtrot1 | January 13, 2013

I recall reading that TM would allow res holders to trade positions. This would allow a buyer to make a new reservation, swap positions with the seller, and when the seller's new position comes around, he could simply cancel.

Brian H | January 13, 2013

It may be possible, I read, to "add" someone as co-owner, and then sell/cancel your share later.

DouglasR | January 13, 2013

If the original purchaser is a corporation, it could simply sell the shares.

alfafoxtrot1 | January 13, 2013

@Douglas, I believe a corp is not eligible for the federal tax credit

DouglasR | January 13, 2013

@alfafoxtrot1, I should have used the tongue-partially-in-cheek icon.

ziggy | January 13, 2013

I think a call to TM is in order to find out how one might swap positions.. hmm