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Whenever a new car comes to market, there’s always a group of people eager to capitalize on the car’s initial limited supply by securing an early example, then turning around and selling it on as a nearly-new used car with a massive markup over MSRP.
While it’s a practice that’s not exclusive to the green car market, cars purchased and sold in the electric vehicle world in this way also come with an added bonus for the car flipper: the ability to claim whatever purchase incentives exist for electric vehicles, register the vehicle in their name, and then sell it on, pocketing the EV purchase incentive in the process.
And it’s something we’re seeing a lot of at the moment with the Tesla Model 3. Some early reservation holders (it’s a small number, but they’re there nonetheless) are picking up their brand-new Model 3s and then immediately selling them on for a massive profit, pocketing the federal tax incentive and effectively capitalizing on others’ eagerness to skip the queues by paying a premium.
Buying a ‘nearly’ new car at overinflated prices isn’t something that’s particularly heinous. After all, if there’s a buyer and a seller willing to do business, business will be done.
But is it fair (and should it be legal) for people to buy a brand-new electric car, claim whatever incentives exist, and then sell it on for a profit?
Watch the video above to find out more.