What to do with unneeded reservation?

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What to do with 2nd reservation?

  • Simply cancel

    Votes: 28 56.0%
  • Hold it for the Y

    Votes: 12 24.0%
  • "Sell it"

    Votes: 10 20.0%

  • Total voters
    50

Steven

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#1
So back on Day 1 I put down two deposits for reservations. Shortly after, I figured I would probably only get one. I haven't put too much thought into it since, but now I'm fairly certain I don't have two Model 3's in my future. I am interested in the Y when it comes out. What should I do? Try to answer in terms of what you'd do in my shoes, not what I should do to move you up one spot, k? :)

Poll options:

Simply cancel: probably the "right" thing to do. Certainly the simplest. Pretty self explanatory.
Hold it for the Y: I've seen suggestions that people that want the Y can keep this deposit on file and be first in line. I kind of doubt that's true though.
"Sell it": Yes, yes... we all know it isn't transferable, blah blah. But laws of commerce take precedence over corporate policy, so of course I can sell it... or something that approximates selling it without calling it that. (we don't need to argue semantics). But what's it worth? I'm not sure its worth anything at all, given I'm in Canada and the backlog may very well be clear by the time we get access.

I have several friends that tell me they'll take it... but I don't think any of them would pay me a premium for it.
 

Ninja

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#3
Someone sold their reservation on eBay for $1,600. If you have a good spot, you should sell it after the unveil (Saturday). People will scramble to reserve the Model 3, and might spend more to get their car early. Thats my two-cents worth of advice.
 

SoFlaModel3

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#4
So back on Day 1 I put down two deposits for reservations. Shortly after, I figured I would probably only get one. I haven't put too much thought into it since, but now I'm fairly certain I don't have two Model 3's in my future. I am interested in the Y when it comes out. What should I do? Try to answer in terms of what you'd do in my shoes, not what I should do to move you up one spot, k? :)

Poll options:

Simply cancel: probably the "right" thing to do. Certainly the simplest. Pretty self explanatory.
Hold it for the Y: I've seen suggestions that people that want the Y can keep this deposit on file and be first in line. I kind of doubt that's true though.
"Sell it": Yes, yes... we all know it isn't transferable, blah blah. But laws of commerce take precedence over corporate policy, so of course I can sell it... or something that approximates selling it without calling it that. (we don't need to argue semantics). But what's it worth? I'm not sure its worth anything at all, given I'm in Canada and the backlog may very well be clear by the time we get access.

I have several friends that tell me they'll take it... but I don't think any of them would pay me a premium for it.
My honest opinion is cancel and get your deposit back. There is no way it's going to transfer you to the Y with priority. My $0.02. I don't think selling it makes any sense either but that's just me. More below the next quote...

Someone sold their reservation on eBay for $1,600. If you have a good spot, you should sell it after the unveil (Saturday). People will scramble to reserve the Model 3, and might spend more to get their car early. Thats my two-cents worth of advice.
I'm very curious about this. We know it's not transferable. Did the person sell their spot in the sense that they'll place the order for the person and then transfer the car to them after they take possession? That seems like a ridiculous hassle for $600 CAN.
 

BigBri

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#5
I just canceled my second one although I didn't reserve the second one on day1, more like November 2016. Figured I could just put a Model Y reservation down if needbe in the future. Didn't have the capital or interest to flip the second one. Sounds like a huge hassle, rather let someone else jump up a space.

I will say the canceling process is somewhat awful. Waited 2 weeks for an email that never came. Saw a bunch of complaints on social media of waiting 3 months or more so I contacted Tesla Sales and they were very helpful. Not seen it yet (almost a month) but she gave me enough info and pushed it further.
 

John

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#6
My wife mentioned one day—to my surprise—that she wanted a Tesla, too. So in February I grabbed a second reservation.
I think now she'd be better off with a Y to replace her van, so that at least one of us has a vehicle for bigger stuff.

I suppose there's some chance she'll just love the 3 and want one, too. So I'll hold on to the Model 3 reso until we figure that out. But most likely I'll cancel at some point and we'll get in line for the Y whenever that ends up being.
 

Steven

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#8
Thanks for the responses. Despite the popularity, I can't see just cancelling it. I don't need the $1k immediately so if nothing else I'd just sit on it and see if a friend really wants it when the time comes. If $1600 is all I can expect... that's really not worth the hassle so again I'd rather do it for a friend.

If cancelling really is a hassle, then I'm sure they can apply the other $1000 to my single purchase if it came to that.

I'll wait till Friday. If there's a huge uptick in interest and I think I can get $5k+ then I'd consider that.

*IF* they surprise me and I can pick it up close to launch (July, August... September at the latest) then I'll get both. But being in Canada, I really doubt that's going to happen. I wanted a 2nd one to rip apart, but there's no point if I'm late in the game.
 

MichelT3

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#10
I'm convinced that you can't keep your reservation for any other Model.
Transferring seems also very impractical.
But there is one use which no one talked about yet. I might take up a second reservation, to enable myself to get a second 3 after maybe 2 years. Might be logical if the first 500k cars are kept simple, but that after 2 years they will have such improvements / extra options (faster charging, HUD haha) that I would prefer such car for a longer time.
I expect that demand after 2 years will be high still, making it possible for me to get a good price for the first car.
Yes, I'm buying with my own money. No lease and certainly no financing for me!
 

SoFlaModel3

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#11
I'm convinced that you can't keep your reservation for any other Model.
Transferring seems also very impractical.
But there is one use which no one talked about yet. I might take up a second reservation, to enable myself to get a second 3 after maybe 2 years. Might be logical if the first 500k cars are kept simple, but that after 2 years they will have such improvements / extra options (faster charging, HUD haha) that I would prefer such car for a longer time.
I expect that demand after 2 years will be high still, making it possible for me to get a good price for the first car.
Yes, I'm buying with my own money. No lease and certainly no financing for me!
I love the line of thinking there, but you're taking a massive depreciation hit to add a little to the car.
 

Mark C

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#12
The poll should have had the option to contact Tesla and have them reallocate the deposit to a Powerwall 2.;)

I chose cancel, but what would really happen is the car would be cancelled and the money moved over for a Powerwall 2 deposit. I want one of those as bad as I want the 3. But, if something keeps me from affording a 3, I still plan to do Powerwall 2 and a generator transfer switch at home and run my home off the Powerwall 2 / solar array as much as possible to minimize what I buy from the utility.
 

MichelT3

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#13
I love the line of thinking there, but you're taking a massive depreciation hit to add a little to the car.
No.
I'm not taking that hit. If that's the case (massive depreciation even though demand is still high, plus few improvements) I obviously won't carry out my second reservation.
By getting a second one I'm giving myself an opportunity.
 

Steven

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#14
Hold it for the Semi. :D
I'm eagerly waiting on the details... I suspect you and I can't buy them, that they'll be reserved (at least for a long time) for internal use and/or certain large commercial partners. But if they are open for sale, I think I could clean up in this town! I could undercut everyone! Muah hah hah.

I'm convinced that you can't keep your reservation for any other Model.
Transferring seems also very impractical.
What convinced you of that? Tesla told me I could transfer it to a Model S/X and others have said they've been told they could use it for a Y. It just stays in a "deposit" account so it can be used for pretty much anything Tesla sells, but the question of whether or not it influences some does-not-exist queue is where I have doubts.

But there is one use which no one talked about yet. I might take up a second reservation, to enable myself to get a second 3 after maybe 2 years.
In that case, I really don't see the point in tying up $1000 for no reason. Just go to the store and buy one at that point.

The poll should have had the option to contact Tesla and have them reallocate the deposit to a Powerwall 2.;)
I didn't have that as an option because the poll is for ME :) And in MY case, the Powerwall offers nothing really, other than an emergency backup for power failure. The power has gone out for more than 20 minutes exactly once in the 15 years I've been here. We have very reliable power. Shorter failures are still not even an annual event. I have UPS on my computer and that's really good enough. As far as environmental... our power is clean too. 100% of our grid is hydroelectric. Its also cheap ($0.07/kWh). And the sun doesn't shine long enough (on average) to make solar a viable investment. I took a serious look at the solar roof when it was announced, the but tool they referenced that showed how many people in the US would have a positive net payout after 30 years... mine was considerably negative. I'm ALL for others adopting solar/wind + battery... absolutely! But it doesn't make sense everywhere.
 

MichelT3

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#15
1. You put down money for a position on the reservation list for a model 3. Not made a general deposit.
2. I expect that after 2 years (= 2020) there still will be a que for Model 3. Because I believe that it will be a huge success. That the coming months a million reservations will be added.
3. If the poll is for you and not for all of us, why bother responding to us? If you want me to be bitchy also; I'm answering for myself, not for you!
 

Steven

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#16
1. Your take, not Tesla's. Ask them yourself.
2. You're nuts lol. If they can't satisfy demand by that time, then it was a failure, not a success.
3. No idea what you think you read man, but "bitchy" was never there.
 

Mark C

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#17
1. Your take, not Tesla's. Ask them yourself.
2. You're nuts lol. If they can't satisfy demand by that time, then it was a failure, not a success.
3. No idea what you think you read man, but "bitchy" was never there.
Perhaps it was this wording that did it for him:

"I didn't have that as an option because the poll is for ME :) And in MY case,"

because it sure did it for me.
 

Steven

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#18
Perhaps. Taken in that minutia of context, I suppose it looked arrogant. I was only trying to say that the poll was "what should I do" rather than "what would you do", purely in explanation for why I didn't include Powerwall as an option... for me. Was it the all caps "ME" that put you off? Just emphasizing.

Text-only communication sucks for many reasons.

In any case, I meant nothing by it. I wasn't intending to say your response wasn't valid... just responding to what you wrote.
 

Mark C

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#19
I really like this forum for the free exchange of ideas, whether or not the actual topic applies to me. Yes, the all caps ME and MY was what suprised me and put me off. OTOH, I do things that others haven't felt good about and after it was thrown out there....well, it was out there. We are all good, though.

Back to the point of what I wrote. Others may not have considered switching their deposit over from the Automotive to the Energy aspects of Tesla if they somehow find themselves choosing not to buy a Model 3 and at now it is out there for their consideration.
 
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#20
Assuming regulations and capabilities for full autonomous driving are already in place:

1. Purchase your first car with autopilot software
2. Make enough money to pay off the first car via the ride sharing Tesla Network
3. Buy the second car. Keep making money off of your first car
4. Wish it were that simple ;)