How to give my preorder to a friend?

[XTheUnknown]

Hi all - I've had my '22 Grabber Blue GTPE since March when I got lucky enough to find one but prior to that, I had placed an order that I never cancelled for a different '22 GTPE that is finally being delivered to the dealership in early November.

One of my dearest friends would love to take that reservation and I'm hoping there is a way to give that to him without a ton of trouble. Can that be done in a way that doesn't involve the dealership taking over the car and adding 10-20k ADM? I "could" buy it and have my friend buy it from me in turn but there are tax implications that would make that an absolutely worst case scenario.

Does anyone have any thoughts on how to best get this transfer either pre-approved through Ford Mothership, or is there a suggested way to go about doing this? I know I could technically buy and sell at a profit but that's the last thing I want to do...I just want to get my friend hooked up as he's been in love with my car for months. (Maybe he'd finally stop drooling in it) ?

Sponsored

 

[AKgrampy]

I do not think there is a way to transfer your order. Everything is tied to you and the dealer is supposed to provide verification that you purchased it. The issue is/was dealers could bypass the allocation method for their inventories and make fake customer orders.

 

[SnBGC]

Buy the vehicle like originally planned, sell it to your friend and bite the bullet for not being able to maximize the tax incentive. (Assuming that is the concern you are referring to).

Your dear friend still comes out ahead any way you look at it.

 

[XTheUnknown]

Buy the vehicle like originally planned, sell it to your friend and bite the bullet for not being able to maximize the tax incentive. (Assuming that is the concern you are referring to).

Your dear friend still comes out ahead any way you look at it.

Hi - The tax issue isn't related to that as I could work that out with him, so much as my state's DMV would make me pay tax on the car, and then make him double dip and pay tax (and presumably registration fees) again when I sell it to him and that's just throwing thousands out the window unnecessarily. (Well, or neccessarily if that's really my only option).

To add insult to injury, pretty sure in this new world of high interest rates, he gets trapped with a used car loan rate instead of a new one.

 

[voxel]

Hi - The tax issue isn't related to that as I could work that out with him, so much as my state's DMV would make me pay tax on the car, and then make him double dip and pay tax (and presumably registration fees) again when I sell it to him and that's just throwing thousands out the window unnecessarily. (Well, or neccessarily if that's really my only option).

To add insult to injury, pretty sure in this new world of high interest rates, he gets trapped with a used car loan rate instead of a new one.

The only way around this is to have two names on the title at purchase time and that comes with legal and financial problems.

FYI you don't own the order. The dealer owns the order with your name on it. Ford wants dealers to have 75% of the orders sold to the "original buyer" (name matched).

I basically walked away from an order recently and had tried to transfer it to a friend but no luck. The sales person said they would provide a lower markup for the friend but he decided it wasn't worth it.

 

[CompilerBreak]

To add insult to injury, pretty sure in this new world of high interest rates, he gets trapped with a used car loan rate instead of a new one.

My credit union offers "new" loans on anything less than 2 years old, shop around, probably others similar.

I'm not sure what the taxes are in your area, but if they want the car this year, you're probably paying less to do the taxes twice than a marked up one at a dealer.

 

[AKgrampy]

Hi - The tax issue isn't related to that as I could work that out with him, so much as my state's DMV would make me pay tax on the car, and then make him double dip and pay tax (and presumably registration fees) again when I sell it to him and that's just throwing thousands out the window unnecessarily. (Well, or neccessarily if that's really my only option).

To add insult to injury, pretty sure in this new world of high interest rates, he gets trapped with a used car loan rate instead of a new one.

What is your relationship with the dealer? Are you certain they will add significant ADM? Perhaps a deal could be made for a small ADM for dealer and your friend receives the car which becomes a win - win (although I hate ADM.)

 

[XTheUnknown]

What is your relationship with the dealer? Are you certain they will add significant ADM? Perhaps a deal could be made for a small ADM for dealer and your friend receives the car which becomes a win - win (although I hate ADM.)

Interesting thought but the dealer has openly said that he'd love it if I didn't want the car as they'd get $20k over MSRP vs honoring the invoice for my preorder so I'm not "overly optimistic" he'd make it easy... ?

 

[RickMachE]

Orders cannot be transferred.

Tax credit cannot be claimed if you buy and then resell to him.

The vehicles must be acquired for use or lease and not for resale.

Ford specifically doesn't want orders given to other than the original person. What you want to do is exactly what they want to avoid.

If you buy, and hold it for a period of use, you can sell it to your friend, take the tax credit, AND transfer your Ford Credit financing.

 

[generaltso]

Hi all - I've had my '22 Grabber Blue GTPE since March when I got lucky enough to find one but prior to that, I had placed an order that I never cancelled for a different '22 GTPE that is finally being delivered to the dealership in early November.

One of my dearest friends would love to take that reservation and I'm hoping there is a way to give that to him without a ton of trouble. Can that be done in a way that doesn't involve the dealership taking over the car and adding 10-20k ADM? I "could" buy it and have my friend buy it from me in turn but there are tax implications that would make that an absolutely worst case scenario.

Does anyone have any thoughts on how to best get this transfer either pre-approved through Ford Mothership, or is there a suggested way to go about doing this? I know I could technically buy and sell at a profit but that's the last thing I want to do...I just want to get my friend hooked up as he's been in love with my car for months. (Maybe he'd finally stop drooling in it) ?

Since your friend has been drooling over yours, perhaps you should sell him that one and purchase the new one for yourself.

 

[XTheUnknown]

Since your friend has been drooling over yours, perhaps you should sell him that one and purchase the new one for yourself.

That would have been an option; give him my car and start over if not for the fact that my '22 made it under the wire so I have both the laminated (acoustic) side windshields, and park assist. Additionally, I'll save you the long story but Ford made a mistake and had to honor a 1.37% 60 month loan which would now be 4% in today's market and that would add almost $10k in costs to me, not to mention I paid $4k for ceramic coat and PPF.

Might just have to let this go but it sucks because I had a similar situation with a Tesla Model 3 back in the day, and they had allowed certain provisions so I was hopeful I could help a friend here.

Oh well. Thanks for all the counsel everyone. Appreciated.

 

[AKgrampy]

That would have been an option; give him my car and start over if not for the fact that my '22 made it under the wire so I have both the laminated (acoustic) side windshields, and park assist. Additionally, I'll save you the long story but Ford made a mistake and had to honor a 1.37% 60 month loan which would now be 4% in today's market and that would add almost $10k in costs to me, not to mention I paid $4k for ceramic coat and PPF.

Might just have to let this go but it sucks because I had a similar situation with a Tesla Model 3 back in the day, and they had allowed certain provisions so I was hopeful I could help a friend here.

Oh well. Thanks for all the counsel everyone. Appreciated.

It would not hurt to talk to the salesman with your friend in tow, say you will let dealer sell the car if they sell it to your friend for no more than $X ADM or you will take it for protected price. Would be a win-win-win if they agree.

 

[Moomin]

You could try both going at the same time then say I don’t want it and have him nearby saying I’ll take it. Maybe they won’t charge ADM

 

[RedStallion]

Marry your friend then do the spousal transfer which excludes the sales tax. ?

Sponsored