Transfering a reservation

I know someone with a reservation that has just kicked over to "ready to build" or at least they got the email. He can no longer afford the car. Can the reservation be transferred in some way?

This has been asked before; the short answer is no.

You can cancel your reservation and get your money back. At this point, there isn't a lot of value in the reservation itself, assuming you could actually transfer it, compared to when it could be a car you would get in November.

There are many threads about people trying to sell a reservation slot, but the consensus is he would have to take delivery and then sell the car, which means you lose the tax credit.

Right, not what I want at all. I will stick with the slow but steady, legit route.

If you you signed the agreement, you will not get your money back.

@jk2014 - if he just got the "time to build" mail, then he isn't at that point yet. Presumably he wouldn't sign the MVPA making his deposit non-refundable if he didn't intend to buy it.

@ziggy: reservations are not transferable, as others have said. But he can cancel, get his money back, and let the reservation holders after him move up just a bit in the queue.

I recall reading that TM would allow res holders to trade positions. This would allow a buyer to make a new reservation, swap positions with the seller, and when the seller's new position comes around, he could simply cancel.

It may be possible, I read, to "add" someone as co-owner, and then sell/cancel your share later.

If the original purchaser is a corporation, it could simply sell the shares.

@Douglas, I believe a corp is not eligible for the federal tax credit

@alfafoxtrot1, I should have used the tongue-partially-in-cheek icon.

I think a call to TM is in order to find out how one might swap positions.. hmm

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