Wife No Longer Needs Bronco. Need Advice on Next Steps.

[rcl4668]

My wife is an early reservation holder (she ordered in July a week or two after reservations for the 2021 Bronco opened). Car is still on order with no estimate for production or delivery. In the meantime, my wife couldn't wait as she needed a car for inclement weather, etc. and purchased a 2021 Toyota 4Runner. Her Bronco (at this point) is a 2022 4-door Big Bend with roof rack, automatic, 2.3L engine with some other options. Question: We've never been in this situation with a car that has been this significantly delayed. What are the merits/pros and cons of:

-- selling one's reservation spot (can this even be done)?

-- waiting for the car but then turning around and selling it (again, can this be done even before the car arrives)?

Again, we've never been in this situation before and would like feedback both on the nuts and bolts of how to do this (eBay for example?) as well as the ethics of doing it. Thanks so much for your help!

/Rich

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[mds5917]

First thought was - you're in luck - now you get the Bronco! But now on to your questions. You cannot sell your reservation spot. and since you have no idea when the Bronco is coming, it has little to no value anyway, even if you could.

And because you don't know when it is coming, it will be hard to tell if there will still be 'excess demand' but the time it does come to get enough out of it to resell and cover your transaction costs and taxes, but you can wait on that if you want. There is really no cost to doing this, but you should also be sure you have a signed agreement on pricing, otherwise who know what may happen between you and the dealer at that point.

There were people who modified their reservations to soft tops and were able to get Broncos very quickly, so if it is not a MIC top or have some other constrained part, it will likely not have 'extra value'. Also, you can change your order/config up until a VIN is assigned, so if you had a friend who wanted it, you could change to what they want, but again it will depend upon the market as to whether the tax issues and transaction costs make it worth if for someone else to buy or you to go through the hassle of this.

 

[mybikeisred]

Sounds like you still have a while before you need to make that decision. Wait and see what the market is like when you’re getting closer. It may cool off sooner than you expect. Might not be worth the trouble of trying to make a few bucks off of it.

 

[Daktari]

you can just leave things as they are, once it gets delivered you can see how the market is doing and if people still pay crazy over MSRP, then you could buy it and sell it right away. Or you can just walk away, you do not HAVE to buy it once it shows up at the dealer, they'll just sell it to who ever walks in. Last option it to just cancel it all, but dealer might just keep the order open anyway.

Of course, once your wife test drives it and decides she likes it better, she can sell/trade in the 4Runner and little to no loss I'd think. So I'd just keep the order open and decide when it's actually delivered.

 

[Heath Aggen]

If you have not got a vin yet just cancel your order. At this point you are not obligated to anything.

 

[FrankenRodz]

Says right in the Ford Reservation Agreement that you cannot transfer your Reservation to anyone other than an immediate family member.
I agree that the best thing is to cancel the order

 

[Texas Sunshine]

you can just leave things as they are, once it gets delivered you can see how the market is doing and if people still pay crazy over MSRP, then you could buy it and sell it right away. Or you can just walk away, you do not HAVE to buy it once it shows up at the dealer, they'll just sell it to who ever walks in. Last option it to just cancel it all, but dealer might just keep the order open anyway.

Of course, once your wife test drives it and decides she likes it better, she can sell/trade in the 4Runner and little to no loss I'd think. So I'd just keep the order open and decide when it's actually delivered.

I would take Oliver's advice. It's a win win situation. Your wife may change her mind and decide she wants the Bronco. I don't believe you would lose any money on the 4 Runner.

 

[Toccoa]

Just cancel the order.

 

[TXBoy79]

Whatever you decide, just don’t let the dealer get it.

 

[Desert_6G]

I would say go through the with purchase. You wife may like it more and you'll be able to sell that 4Runner for what you paid for it since Toyotas's depreciate very little. Used ones aren't that much less than new ones. If she doesn't like you; maybe you can drive it. Or lastly you can sell it for what you paid for it or maybe a little more.

 

[Ares]

If you have not got a vin yet just cancel your order. At this point you are not obligated to anything.

he's never obligated until he signs the paperwork, they can call him up, "your bronco is ready for pickup" and he can say no thanks.

or he can hit up carvana or carmax and see what the value is.

Odds are... it may not be worth his time after tax, but he can see what its at the day it happens. (right now, carvana offers 14k less than I paid, so I doubt thats going to improve)

 

[RagnarKon]

You essentially have 3 options, and some of it is dependent on if you have a deposit down with your dealer:

• Just cancel you order/reservation.
• Do nothing and wait for the Big Bend to be built. You can decide later once it arrives if you want to trade in your 4Runner or not. If you walk away from your order the vehicle goes directly to your dealer and I guarantee they will happily sell it. That said, if you have a deposit down with your dealer you may lose that deposit, depends on their policy.
• If the market continues to be strong, take delivery of the Big Bend and resell it for profit.

 

[BroncoU812]

What did she order on the big bend that pushed it back that far???

I would look into the potential short term gain tax owed. You would need to get a pretty significant amount to offset what Uncle Sam is going to steal from you depending on your current tax rate.

But to sell it means you have to buy it so you yourself are going to pay tax on the vehicle. So basically you are going to have to buy (finance) and pay the sales tax. If you drive it home you have to insure and register it, unless you have it trailered. Then find a buyer willing to pay over MSRP as the second owner. Then when tax time comes claim it as income. I mean you are talking about needing 10 to 15k over what you pay for it just to offset your cost.

 

[HoosierDaddy]

What did she order on the big bend that pushed it back that far???

so if it is not a MIC top or have some other constrained part, it will likely not have 'extra value'.

Note that one of the options he listed was "roof rack" , therefore it gets the MIC , and it's a 4 door.
From what I gather lately, those are rare builds at the moment.

 

[AK SNO RIDER]

I'm of the opinion you should cancel your order and let someone else who wants a Bronco move up a spot.

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