Using a friend's Lightning reservation?

[fitek]

My buddy reserved right after the launch... I reserved a week after the launch (was out in the woods camping...). He's decided to pass for now. Is there some way to work this reservation so I use his place in line? or is it going to get really complicated because of the EV tax credit and such?

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[adoublee]

My buddy reserved right after the launch... I reserved a week after the launch (was out in the woods camping...). He's decided to pass for now. Is there some way to work this reservation so I use his place in line? or is it going to get really complicated because of the EV tax credit and such?

You could consider marrying your buddy.

 

[Silenze]

You might be able to use it if you guys live together.

 

[astricklin]

You can be a co-owner (at least in Texas) when the other party purchases the vehicle. Both people would be on the loan and on the title. You don't have to live together to do this and I doubt you even have to be related. However, you are both fully liable for the vehicle and the loan so it may not be the best situation if you don't really really trust the other person.

 

[Lime Green]

If you both have reservations attached to the same dealership, see if they’ll help you work it out. But we don’t know about the Lightning order process just yet. I don’t know how your state does it, but many will allow more than one person listed on the purchase and title with an “OR” qualifier so it can be titled as Your Buddy OR Yourself. In actuality, if purchased this way when you register/plate the truck they can drop your buddies name off the title completely. He may need to be present or give you a power of attorney to have his name dropped. Most places can drop a party of the title just as easily when it’s an “AND”.

Tax credits will be a bit of a challenge. If both of your names are on the purchase paperwork, then you are both entitled to the tax benefits. You will want to consult with a CPA to see exactly how to file that. If you’re listed as a Him And You on the title, then you’re basically 50/50 partners and would split unless you both provide specific accounting to show otherwise. If it’s Him Or You on the paperwork, then it should be easier, but you may need a statement of fact from him to file along with your return saying that he is not claiming any of the tax benefits. There is also a chance with the new EV tax bill that the credit can be taken as a point of sale discount. If that’s the case, it should simplify some of this.

 

[Sundancer330]

I doubt you could take his place. Ford has gotten real strict and does audits to make sure reservations match final paperwork. I think this was more for dishonest dealers placing stock orders as private and inflating prices.

 

[fitek]

Thanks for the ideas. I emailed the dealer. I think I could talk one of my relatives into using my spot in line, so the dealer would sell two cars instead of one. Hard to argue with that.

Hopefully it's a point of sale credit, then it should be easy to have two names on title and drop one off later.

 

[EaglesPDX]

In somewhat similar spot. One of the first 20k reserves but fact I can't do a camper and tow the boat due to low puyload (1,800# for ER) has me rethinking it. But one of my co-workers wants it ASAP so were trying to figure something out. He'd pay for everything, I'd apply for tax break and OR subsidy ($10k) and then pay him the $10k after getting the rebates. Tricky part is both Feds and OR have provisions about reselling, OR you have too keep it two years. See how it plays out.

 

[fitek]

In somewhat similar spot. One of the first 20k reserves but fact I can't do a camper and tow the boat due to low puyload (1,800# for ER) has me rethinking it. But one of my co-workers wants it ASAP so were trying to figure something out. He'd pay for everything, I'd apply for tax break and OR subsidy ($10k) and then pay him the $10k after getting the rebates. Tricky part is both Feds and OR have provisions about reselling, OR you have too keep it two years. See how it plays out.

Supposedly they got 'er done. Had to have the reservations at the same dealer. Worst case we can do two names on the title and release of interest.

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