How to Sell Your Rivian R1T March/April Delivery Reservation and Avoid Potential Issues with the IRS & Rivian
Rivian has made it clear that reservations for their vehicles are non-transferable. However, some people have found ways to work around this and successfully resell their reservation. It is important to note that if you do decide to go through with the sale of your reservation, you may be subject to penalties from Rivian. Additionally, you will not be eligible for any tax credits associated with the vehicle if you choose to flip it.
When considering selling your reservation, it is best to treat it as a traditional Internal Combustion Engine (ICE) vehicle and not file for any tax credit associated with the purchase. This way, you can avoid potential issues with both Rivian and the IRS. You should also keep in mind that while flipping a reservation might seem like an attractive option, there is still risk involved. The buyer of your reservation could potentially face double sales tax depending on where they live and you could be left without a car if the buyer decides not to follow through with their end of the deal.
It is ultimately up to each individual whether or not they want to take the risk of reselling their reservation. If you decide to go ahead with it, make sure you find a trustworthy buyer who understands all of the risks involved. Do your research beforehand so that you can make an informed decision about what is best for you.
The first step in selling your reservation is to find a buyer. You can do this by posting on forums, social media sites, or even classifieds websites. Make sure you include all the details about the vehicle and any other information that might be relevant to potential buyers. Additionally, it’s important to make sure that you are clear about what type of payment method you will accept for the sale of your reservation (cash only, PayPal etc.).
Once you have found a buyer who is interested in purchasing your reservation, it’s time to draw up an agreement between both parties outlining all terms and conditions associated with the sale. This should include things like delivery date expectations as well as any additional fees or taxes associated with transferring ownership of the vehicle from one person to another. It's also important that both parties sign off on this document before moving forward with anything else related to the transaction.
Finally, once everything has been agreed upon and signed off by both parties involved in the transaction it’s time for Rivian itself get involved so they can transfer ownership of your R1T March/April Delivery Reservation over officially from yourself onto its new owner(s). To do this simply contact their customer service team via email or phone call and provide them with all necessary documentation including proof-of-purchase receipts along with copies of each party's signature on said agreement form mentioned earlier - then wait until they confirm successful completion before proceeding further!
Is it possible to transfer a Launch Edition R1T reservation for March/April Delivery?
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, some have worked with a traditional dealer to flip their reservation where they had an inbound car and the dealer had a long time customer who wanted it now.
Can I still be eligible for the $10k available to EV buyers if I resell my reservation?
No, you cannot be eligible for the $10k available to EV buyers if you resell your reservation. The vehicles must be acquired for use or lease and not for resale. If you file for the credit, it will ask you for the VIN number. So if both of you file, it will flag. 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.
What is the risk of reselling my reservation?
There is a risk of Rivian coming after you for breaching agreement when reselling your reservation. Additionally, if both parties file for the credit, it will flag and you may be subject to IRS scrutiny. It is best to not file for the credit in this situation and treat it the same as flipping an ICE vehicle (ie, no tax credit).
Is there a way to resell my reservation without breaking the agreement?
Yes, there is a way to resell your reservation without breaking the agreement. You can work with a traditional dealer who has an inbound car and a long time customer who wants it now. This way, you can transfer your reservation to the dealer and they can then transfer it to their customer. This would be done through Rivian's system and both parties would have to agree to the terms of the transfer.