[Gcarlson]

I ordered this truck early and can't wait for it to arrive although recent changes to my financial situation may require me to sell it once it arrives. It is LOADED.

Let me know if anyone is interested.

thanks,
Garry
Current Vehicle
F150 Hybrid

 

[ChasingCoral]

Per ford:
How many reservations can I make and can I transfer my reservation?
Up to four reservations per account. Your reservation number is assigned to you and cannot be transferred. *
(ref https://www.ford.com/trucks/f150/f150-lightning/2022/reservation-information/)

 

[fyrdude]

Per ford:
How many reservations can I make and can I transfer my reservation?
Up to four reservations per account. Your reservation number is assigned to you and cannot be transferred. *
(ref https://www.ford.com/trucks/f150/f150-lightning/2022/reservation-information/)

Read the OP's post more clearly before posting info that is irrelevant to the question being asked. OP asked if anyone is interested in buying the F-150 Platinum that HE WILL BE SELLING ONCE IT ARRIVES. Thus, will be technically buying a used vehicle.

 

[JC12345]

Read the OP's post more clearly before posting info that is irrelevant to the question being asked. OP asked if anyone is interested in buying the F-150 Platinum that HE WILL BE SELLING ONCE IT ARRIVES. Thus, will be technically buying a used vehicle.

No need for the fangs. This isn’t the Facebook group. As for OP’s post, I’ve got no more desire to buy this truck above MSRP from another customer than I do from a Ford dealer. I’m a pessimist at heart so all I see here is an opportunity to rake someone over the coals. That said, if some idiot will pay then more power to you.

 

[Gcarlson]

Actually, I am not trying to sell for over MSRP, just trying not to lose my deposit.

I could turn it over to the dealer but they will just mark it up a fortune so if someone wants it I am all ears. if someone wants it just to resell... I might as well give it to the dealer.

Just trying to explore my options.

 

[Voltz]

As for OP’s post, I’ve got no more desire to buy this truck above MSRP from another customer than I do from a Ford dealer.

I've carefully re-read the post. Where does the OP specify that the truck will be sold over MSRP?

 

[JC12345]

I've carefully re-read the post. Where does the OP specify that the truck will be sold over MSRP?

He doesn’t and he even said the opposite in a follow up. I said I’m a pessimist. Not trying to offend an individual. Just saying that in general I’m as unlikely (maybe even less) to trust an individual seller as a dealer. I don’t think most people would be as altruistic.
At least Ford is trying to hold dealers near MSRP. I think the private resale market is going to get crazy based on unchecked supply and demand relationship. Deep pockets will drive it up

 

[VTbuckeye]

Even selling at MSRP is like a 7500 markup due to the tax credit that is only for the original owner. *I know there are some people who are buying these trucks that do not qualify for the tax credit, but most will. If the first owner passes this savings along then it could be a great deal for someone.

 

[JC12345]

I reread my post I didn’t mean to come off harsh. If I were a buyer I would approach you with skepticism. I think Coral’s point is there’s no way for you to transfer your order. You either have to complete the purchase (cash/loan/combo) and then sell privately to recoup or back out. Dealers “may” refund deposit because they know they can make more off inventory on lot.

 

[ChasingCoral]

Even selling at MSRP is like a 7500 markup due to the tax credit that is only for the original owner. *I know there are some people who are buying these trucks that do not qualify for the tax credit, but most will. If the first owner passes this savings along then it could be a great deal for someone.

Also, IRS rules indicate:
The following requirements must be met to qualify for the credit.
• You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.
• You placed the vehicle in service during your tax year.
• The vehicle is manufactured primarily for use on public streets, roads, and highways.
• The original use of the vehicle began with you.
• You acquired the vehicle for use or to lease to others, and not for resale.
• You use the vehicle primarily in the United States.

That would mean that per IRS rules, neither the original owner nor the subsequent purchaser would be eligible to take the $7,500 tax credit.

 

[taxmanhog]

Possibly the intended original owner could lease out his truck, that would pass muster in qualifying for the credit.

Problems I would have doing this, trusting the renter/lessee to take good care of the Lightning for the rental period.

1040 Schedule E would be involved in the owners tax filings in addition to the form for the BEV credit of $7500

 

[Gcarlson]

You should always approach any deal with a "Healthy Dose" of skepticism.

To assume that an individual is less trustworthy than a dealer, now that is just hurtful. (LOL)

Thank you Chasing Coral for the information that is definitely useful.

Good Idea TAXMANHOG - but I agree I don't know who I would lease it to that I wouldn't constantly be concerned about.

 

[fyrdude]

Also, IRS rules indicate:
The following requirements must be met to qualify for the credit.
• You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.
• You placed the vehicle in service during your tax year.
• The vehicle is manufactured primarily for use on public streets, roads, and highways.
• The original use of the vehicle began with you.
• You acquired the vehicle for use or to lease to others, and not for resale.
• You use the vehicle primarily in the United States.

That would mean that per IRS rules, neither the original owner nor the subsequent purchaser would be eligible to take the $7,500 tax credit.

The resale rule is generally very difficult to prove. Many people buy vehicles, then change their mind or decide they don't like it and choose to sell it. In this case however, the OP has opened up a "paper trail" that the intent is to sell the vehicle prior to even acquiring it, thus in this case, if, in the very rare event that the IRS decided to actually investigate it, would provide them with proof that the intent was to sell immediately and if, the original buyer were to claim the tax credit, would likely mean at least, having to return any refund received related to the tax credit. But, as most know, you don't want to mess with the IRS. Doing something like this gives them reason to dig deeper and who knows what they'll find.

Would have no fear of purchasing a truck / car, taking the credit even if I decided to sell it a week later because I chose to or decided it wasn't what I wanted. With this pre-order nonsense we now have to live with for EV purchases and wait for over one year for a vehicle we've never seen or driven, it's understandable that it may not be what everyone hopes it will be and they will choose to resell it right away. That doesn't mean they intended to purchase it only to sell it. But, for anyone that's chosen to market the vehicle prior to even taking delivery, I'd say it's not worth taking the chance of trying to claim the tax credit since your intent is already documented in a public manner. 99% may get away with it, but that 1% that doesn't, very likely would not like the results of an IRS investigation.

 

[HellBoy]

Also, IRS rules indicate:
The following requirements must be met to qualify for the credit.
• You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit.
• You placed the vehicle in service during your tax year.
• The vehicle is manufactured primarily for use on public streets, roads, and highways.
• The original use of the vehicle began with you.
• You acquired the vehicle for use or to lease to others, and not for resale.
• You use the vehicle primarily in the United States.

That would mean that per IRS rules, neither the original owner nor the subsequent purchaser would be eligible to take the $7,500 tax credit.

just keep in mind - again - that rule is SOOOOO badly written that it's grey area. If the OP keeps the vehicle for personal use for a week but then realizes charging times are too slow, can he then proceed and sell it? SEE my point - I could come up with 1000 reasons to explain 'acquired the vehicle for use'.

 

[GoGoGadgetTruck]

setting aside the whole IRS piece for the moment, I wonder how often this will come up. In the Mach-E side we saw this occasionally - where apparently a person was legitimately going to buy the car for their own use and then due to the long delay and life circumstances, they couldn't actually afford it when it showed up (and knew that before it showed up). I think especially with the high end on the Lightning, where a bottom line of over $90K is in play (which is the case stated here), it's going to come up, but it will be interesting to see how people deal with it.

Ford restricting the transfer of the reservation is very reasonable in some ways, but it does have downsides as well. For the OP, the best outcome I'd think would just be to be allowed to do a "zero cost" transfer to a willing buyer, which there are plenty of. But that's not a real option so...

I suspect someone reading the forum will be willing to make the purchase from the OP but if it were me doing so, I'd do it in PMs. No reason to do it all in public.

 

[FM_Jack]

.... In the Mach-E side we saw this occasionally - where apparently a person was legitimately going to buy the car for their own use and then due to the long delay and life circumstances, they couldn't actually afford it when it showed up (and knew that before it showed up). I think especially with the high end on the Lightning, where a bottom line of over $90K is in play (which is the case stated here), it's going to come up, but it will be interesting to see how people deal with it.
...

I am starting to feel this a bit. Beginning of the year was great, but over the last few months we've lined up some stuff and now it is going to be tight. (finishing basement, bought couches, washing/drying machine, new water heater, day care). But I'm not giving this vehicle up. It is really just going to be this first year.

 

[ChasingCoral]

The next issue you'll have to deal with is if the dealer includes a no-resale provision in your purchase contract. If they do, how much is it worth to you in legal fees to fight it?

 

[HellBoy]

The next issue you'll have to deal with is if the dealer includes a no-resale provision in your purchase contract. If they do, how much is it worth to you in legal fees to fight it?

View attachment 1798

But how the heck will the dealer keep track of this?! I could see if one finances/leases with Ford directly but if you buy cash or finance with a 3rd party, the dealer has no teeth here!!!

 

[Voltz]

But how the heck will the dealer keep track of this?

A lien recorded on the title.

 

[HellBoy]

setting aside the whole IRS piece for the moment, I wonder how often this will come up. In the Mach-E side we saw this occasionally - where apparently a person was legitimately going to buy the car for their own use and then due to the long delay and life circumstances, they couldn't actually afford it when it showed up (and knew that before it showed up). I think especially with the high end on the Lightning, where a bottom line of over $90K is in play (which is the case stated here), it's going to come up, but it will be interesting to see how people deal with it.

Ford restricting the transfer of the reservation is very reasonable in some ways, but it does have downsides as well. For the OP, the best outcome I'd think would just be to be allowed to do a "zero cost" transfer to a willing buyer, which there are plenty of. But that's not a real option so...

I suspect someone reading the forum will be willing to make the purchase from the OP but if it were me doing so, I'd do it in PMs. No reason to do it all in public.

here’s

A lien recorded on the title.

The legalities around this is complicated, plus remember one can still sell a vehicle as long as the lien is disclosed…if the lien expires in a year it won’t matter a tiny bit…