⚡ Ford Lightning Forum ⚡ banner
1 - 20 of 31 Posts

·
Registered
Joined
·
18 Posts
Discussion Starter · #1 ·
I was asking my dealer about postponing my order (wife got a new car) and pushing my already placed 22MY order into 23. He told me there wasn't really a way to do that, if I cancel I go back through normal reservation process from square one.

What surprised me was he suggested taking the vehicle and selling it; I was under the impression dealers were going to restrict resale but doesn't sound like that's the case. Realistically, is anyone going to want to buy a secondhand lightning Pro if they can't claim the tax credit?
 

·
Administrator
2021 Mustang Mach E First Edition, 2016 Nissan Leaf, 2003 Toyota Tacoma, F-150 Lightning Lariat ER
Joined
·
2,447 Posts
I was asking my dealer about postponing my order (wife got a new car) and pushing my already placed 22MY order into 23. He told me there wasn't really a way to do that, if I cancel I go back through normal reservation process from square one.
Yes, you are probably stuck since you already placed an order.

What surprised me was he suggested taking the vehicle and selling it; I was under the impression dealers were going to restrict resale but doesn't sound like that's the case. Realistically, is anyone going to want to buy a secondhand lightning Pro if they can't claim the tax credit?
I'm confident there will be a strong resale market. The question is whether your dealer chooses to put the no-resale language in your order. There are threads about that here in the forum.

You can also just pass on buying the truck and letting the dealer sell it for a big profit.
 

·
Registered
Model 3 AWD, Lightning Lariat on order
Joined
·
582 Posts
I was asking my dealer about postponing my order (wife got a new car) and pushing my already placed 22MY order into 23. He told me there wasn't really a way to do that, if I cancel I go back through normal reservation process from square one.

What surprised me was he suggested taking the vehicle and selling it; I was under the impression dealers were going to restrict resale but doesn't sound like that's the case. Realistically, is anyone going to want to buy a secondhand lightning Pro if they can't claim the tax credit?
Many talk here and on FB about the huge markups and what people will pay for these aftermarket - that is all TALK until someone starts putting their money where their mouth is.

It will truly be all about what you are willing to sell it for. If you pocket the $7500, wouldn't you pass that savings on to the buyer of your truck, you'd just take that into consideration when you sell it right? :p:p
 
  • Haha
Reactions: taxmanhog

·
Registered
2012 F250-PSD, 2006 Harley VROD Destroyer
Joined
·
417 Posts
Realistically, is anyone going to want to buy a secondhand lightning Pro if they can't claim the tax credit?
Assuming you're the first owner....If you can't afford the truck, then pass on delivery, sure the dealer is going to find a willing buyer and probably at a premium. Taking the truck only for a tax credit is unethical, the law governing this credit needs tightening and your story is a prime example. 👿 :mad::poop:
 

·
Registered
Joined
·
18 Posts
Discussion Starter · #6 ·
I can afford the truck, I was just asking the dealer about cancelling my Pro changing my reservation to an XLT or Lariat next model year and that's the info they shot back. Since it was contrary to what I had read here, figured it was worth mentioning.

Like GDN said theoretically you'd back the tax credit out of what you sold it for, but the credit can't be redeemed until next Spring, and at least in my state you'd end up having a sales tax liability on the $7,500 price difference.
 

·
Registered
Joined
·
503 Posts
Am I the only person who thinks the tax credit is really, really tricky for many to get, anyway? Do they realize this? For those buying this year, remember you will need to OWE more than $7500 in taxes. That will take preplanning for a lot of folks. You don't get a refund for it.
 

·
Registered
Joined
·
18 Posts
Discussion Starter · #8 ·
Am I the only person who thinks the tax credit is really, really tricky for many to get, anyway? Do they realize this? For those buying this year, remember you will need to OWE more than $7500 in taxes. That will take preplanning for a lot of folks. You don't get a refund for it.
Yeah I had a big conversation with my accountant about exactly that. It's complex, especially if you have other credits that ARE refundable (Child tax credits). Definitely not as easy as just banking on $7,500 coming straight from uncle sam.
 

·
Registered
Joined
·
105 Posts
Easy to get there for us. We could buy 3 EVs in one year and still have surplus tax liability, but I know that we are not a typical family (health professional and part time substitute teacher with two children). If you are single, with no other deductions (student loan interest...) you would need a taxable income around 55k (agi 67k minus standard deduction) to have 7500 in taxable liability. Yes that is well compensated, but right around the median us household income (I know many households are married, which changes the income needed to between 90k and 95k between both incomes). If purchasing a 50k to 90k vehicle one likely has income in the higher range and likely has the taxable liability for at least one tax credit if 7500. (Nobody, well almost nobody, who is a W2 employee is buying a lightning and claiming the earned income tax credit).
 

·
Registered
Joined
·
90 Posts
Assuming you're the first owner....If you can't afford the truck, then pass on delivery, sure the dealer is going to find a willing buyer and probably at a premium. Taking the truck only for a tax credit is unethical, the law governing this credit needs tightening and your story is a prime example. 👿 :mad::poop:
What am I missing here?
Its Ok to flip houses, motorcycls, Land or everything that is out there where you can make a profit, but God forbid...not the Lightning??
Oh...and it's ok for the dealers to charge over MSRP ?
Free market..it call " Suply and Demand "

Welcome to the great US of America
 

·
Registered
Joined
·
90 Posts
What am I missing here?
Its Ok to flip houses, motorcycls, Land or everything that is out there where you can make a profit, but God forbid...not the Lightning??
Oh...and it's ok for the dealers to charge over MSRP ?
Free market..it call " Supply and Demand "

Welcome to the great US of America
PS.
My wife drives the Ioniq 5, and I'm waiting to replace my 2018 f150 with the Lightning, all electric family with Solar panels, so no..I'm not going to flip Mine!
Going Green.
 

·
Registered
Joined
·
28 Posts
Where are you located stlww 18? How was it configured? If you don't want the Pro, I am sure there are folks who would buy it off you. Not trying to start a bidding war on the forum or anything. I am sure you will get lots of PMs if you are serious.
 

·
Registered
Joined
·
154 Posts
Am I the only person who thinks the tax credit is really, really tricky for many to get, anyway? Do they realize this? For those buying this year, remember you will need to OWE more than $7500 in taxes. That will take preplanning for a lot of folks. You don't get a refund for it.
You don't need to OWE $7,500. You need to have a total tax liability of that amount. For actual employees, most pay taxes with every check they receive, thus likely will add up to over $7,500 over the course of a year. If the government somehow, someway has gotten, or is getting at least $7,500 of what you earned, then there's a better chance you'll be eligible for the tax credit. But even then, not everyone is eligible. I pay well over $7,500 per year in taxes and unfortunately, due to other deductions I'm entitled to, I end up not getting the benefit of the tax credit. Always hated the whole tax credit as it just allows manufacturers to charge more for the cars, then advertise "after credit" pricing. Then, magically, when their cars are no longer eligible for tax credits, the prices of those cars decline. Thus, the money is just going to the manufacturer, not the buyers.

And on a separate note......
I still get annoyed with these high horse people claiming its unethical to take a profit on something you own. I guess we should never buy real estate, stocks, classic cars or anything else that we might earn a profit on as it would be unethical for us to make smart purchases and earn a profit on them. Can always go live in Russia if you don't agree with the American way of life!! If you own something, you have every right to sell it at MARKET VALUE, which is what BUYERS ARE WILLING TO PAY. Nobody is forcing buyers to pay for something.
 

·
Registered
2012 F250-PSD, 2006 Harley VROD Destroyer
Joined
·
417 Posts
What am I missing here?
My point was about folks who are in it just to claim the credit then flipping the truck the day after.

Issue related to the gain are secondary, but IMHO not any better than what dealers are trying to do on these sales.

So, after reading his additional points, I wonder if the dealer could help him locate another customer interested in this build so that it's "First Use" is in the hands of a person really intending to own it for the long term.

I've read recently that FORD may be open to letting folks trade reservation positions, if he's really interested in a XLT/Lariat in MY23, find another reservation holder and swap seats with that person, the next guy in line get's the truck they want and OP is now in the best position to get a MY23 configured his way. Heck he might find someone willing to swap a MY22 on order right now!!!

Handling it this way is a win-win for both buyers, hopefully the MY23 will still enjoy a fair value of credit through the middle of 2023.
 

·
Registered
2012 F250-PSD, 2006 Harley VROD Destroyer
Joined
·
417 Posts
Can always go live in Russia if you don't agree with the American way of life!!
NO thanks the taxes in the former USSR are much more severe and their leg breakers are much more serious than my former colleagues, PS Don't forget the Schedule D 🤑
 

·
Administrator
2021 Mustang Mach E First Edition, 2016 Nissan Leaf, 2003 Toyota Tacoma, F-150 Lightning Lariat ER
Joined
·
2,447 Posts
Assuming you're the first owner....If you can't afford the truck, then pass on delivery, sure the dealer is going to find a willing buyer and probably at a premium. Taking the truck only for a tax credit is unethical, the law governing this credit needs tightening and your story is a prime example. 👿 :mad::poop:
Taking the tax credit is illegal if the purchase is for resale.
 
1 - 20 of 31 Posts
Top