Is the NFT / discount still valid?
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My understanding is that the discount period was extended to May 30, 2022 -- and that offer is now expired
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There were three NFT's, but the one with the vehicle discount provided a $3000 cost credit on a VF8 or a $5000 credit on a VF9 for orders placed before May 30, 2022. The NFT was good until 12/31/23.
damn...
I’m sure there will be people (myself likely included) who won’t go through with the purchase and would sell the NFT. There are separate NFTs for the $5k VF9 voucher and the VinFirst membership. Both are transferable.
Ah, ok, I am confused on this point. I thought the NFT was exclusively for the 5k voucher. But I did see that you could also become a "Vinfirst member". So what's the difference between the two?
This is the email. I have separate NFTs in my wallet but the email makes it seem like they will transfer together. I’m not sure if they can be transferred separately.
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You can buy and sell these NFT’s just like eBay. You can get a good amount than canceling the order as they are worth 5000 or 3000 + cost of ADAS approx 3000 + vinpearl resorts all inclusive package 6 night for 4 people. I would ask about 5000 at least if I am selling it.
45000 - 3000 - 7500 = 34500….
56000 - 5000 - 7500 = 43500….
works good anyways.
45000 - 3000 - 7500 = 34500….
56000 - 5000 - 7500 = 43500….
works good anyways.
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There are a number of NFT marketplaces. Open sea is one I plan to put mine.
The value of the NFT is calculated based on the following 3000/5000 + value of ADAS approx 3-6000 + value of 6 night stay vacation for 4 approx 2000 for a grand Total of 8000 to 10000 (vinfast values the Total value at 14,000 which is too much). Tesla FSD is valued at 12000 and autopilot 6000 just some comparison. Do your calculations based on these and then you will have the valuation.
Anyways once they start delivering the sales people will buy and sell it to the customers and make a few. You can try to get it for 300 as you said but I doubt you will get it. I plan to sell mine at a good profit. Most of the people who don’t know the process or value will take the 200 from the company directly than go take an extra 100 from a stranger.
A great idea by Vinfast was the NFT and this is transferable.
The value of the NFT is calculated based on the following 3000/5000 + value of ADAS approx 3-6000 + value of 6 night stay vacation for 4 approx 2000 for a grand Total of 8000 to 10000 (vinfast values the Total value at 14,000 which is too much). Tesla FSD is valued at 12000 and autopilot 6000 just some comparison. Do your calculations based on these and then you will have the valuation.
Anyways once they start delivering the sales people will buy and sell it to the customers and make a few. You can try to get it for 300 as you said but I doubt you will get it. I plan to sell mine at a good profit. Most of the people who don’t know the process or value will take the 200 from the company directly than go take an extra 100 from a stranger.
A great idea by Vinfast was the NFT and this is transferable.
Ah, I see. Ok, well I guess it is yours to sell at the price you feel is fair, but I can guarantee 101% that I won't calculate the vacation package or anything like that when determining how much I will pay. If I buy one, it will be to directly lower the price of the vehicle and nothing more. It will also have to be at a price that I feel is worth it "for me".
Right now, I wouldn't pay more than $300 because it's just "vaporware" at this point. No cars have been delivered to US customers and I don't mind risking $300 for what it can bring. Once I see at least one NFT being used to actually lower the price to a US customer then its value will increase for me to $1000, but never...and I want to stress, never will I value it beyond that.
As happens with all perishables, when the expiration time nears and people with no intention to buy are holding on to theirs...the price will come down. I'm not emotional about being the first or even in the first 1000 owners. Patience will get me a better price than anything else.
If I ever do buy one, I'll post what I paid for it here as a reference to others.
Cheers.
Right now, I wouldn't pay more than $300 because it's just "vaporware" at this point. No cars have been delivered to US customers and I don't mind risking $300 for what it can bring. Once I see at least one NFT being used to actually lower the price to a US customer then its value will increase for me to $1000, but never...and I want to stress, never will I value it beyond that.
As happens with all perishables, when the expiration time nears and people with no intention to buy are holding on to theirs...the price will come down. I'm not emotional about being the first or even in the first 1000 owners. Patience will get me a better price than anything else.
If I ever do buy one, I'll post what I paid for it here as a reference to others.
Cheers.
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You hit it right. It is all based on the marketplace. Demand and supply. And I totally understand your point about discounting the travel part. The expiration date is 12/2023. I was just trying to explain what the valuation is with 3000/5000 discount and autopilot/FSD 6000, they will give at least 1/2 the discount and not 300. People will start trading these once an actual vehicle is sold Until then it’s vapor. When you go to the dealership you can get more informed about whether the discount is valid. The sales people will explain this.
Some didn’t know what NFT is. They can go to opensea.io and do a search for vinfirst and you will see there are US NFT’s and EU NFT’s.
Some didn’t know what NFT is. They can go to opensea.io and do a search for vinfirst and you will see there are US NFT’s and EU NFT’s.
By the way, the "7500" doesn't work the way you're stating above. Unlike the NFT discount, which actually lowers the price of the car at the time you buy it, the $7,500 credit is not a rebate to the price of the car, it's a credit to your US Federal income taxes. In effect, it lowers your tax liability for the year you buy the car. You do get the money back at the end of the year when you file your taxes, but only if you make a certain amount.
If you made $54,726 in 2022, your tax bill would be:
$54,726 - $12,950 (standard deduction) = 41,776 (taxable income)
41,776 @ 22% tax bracket = $9,190.72 in taxes
From which you can get back the full $7,500 tax credit if you paid those taxes throughout the year.
But: if after the standard deduction, you only made 41,774 then you're in the 12% tax bracket which means:
41,774 x 12% = $5,012.88 (What you paid in taxes).
In that case you can't get the 7,500 because you didn't actually pay at least 7,500 in taxes that year. So your rebate winds up being $5,012.88.
So it's only a direct reduction in the price of the car if your income was above a certain amount for the year.
Oh and one other thing. We Americans hate complex topics. We want everything to be simple and explainable in 140 characters, but even IF you do get the full rebate back. That doesn't take into account the amount of sales tax you paid on those $7,500 at the time you bought the car (which is $525 in my state), plus the amount of interest you paid on those $7,500 being in your loan from the time you started making payments to the time you get the rebate.
At 5% simple interest, that's roughly $31.25 per month.
So if you bought it in January, that's roughly $375.
-- AND LASTLY--
Once you got the rebate...Did you make a lump sum payment to the car loan with the 7500? If not then you will continue to pay interest on the amount every month until the car is paid off. So figure:
$375 / year x 5 years = $1,875 over the life of the loan.
Yeah, it's not a simple [price of car - 7500] calculation. It has lots of nuances.
At 5% simple interest, that's roughly $31.25 per month.
So if you bought it in January, that's roughly $375.
-- AND LASTLY--
Once you got the rebate...Did you make a lump sum payment to the car loan with the 7500? If not then you will continue to pay interest on the amount every month until the car is paid off. So figure:
$375 / year x 5 years = $1,875 over the life of the loan.
Yeah, it's not a simple [price of car - 7500] calculation. It has lots of nuances.
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Agree with you and appreciate you going through the full calculation. Mine were simple calculations on assumptions that those who buy these now are well heeled folks. The credit is same for almost all cars and I think they will pass the tax credit bill soon. BTW the calculation of 375 x 5 years is not correct. It is 375x1.25, Since the max can be only 1 year + 3 months as the rebate is received during the tax filing. Also each person’s rate is different, CU Auto loans are 2.9%. So the 375 now becomes 230. You can go and deposit the rebate on the loan you took or go to the casino and loose it all. 😀. I don’t know whether you know that even ICE cars nowadays have a markup. So expect EV to have a significant markup for the next couple of years. I think we are moving away from the original discussion and I will stop at this. But it was nice discussion nevertheless. 👍
You are right in some of your points
If you get the money back March of the following year and you don't put it all towards the loan right there and then, you will continue to pay the interest on those $7,500 (because they will continue to make up part of the balance of the loan) until you lower the loan principal by that amount. In essence you added $7,500 to the price of the car at purchase time because the rebate isn't instantaneous...then when you did have the rebate...you never paid the principal down with it.
So if you just pocket the rebate then you are paying interest on $7,500 in the loan amount that you could have avoided by paying it down with the rebate amount.
Where it starts to get complicated is if you had a "hot stock tip" and you invested those $7,500...and you made 10% compound interest over 5 years. Using a simple variance of 3%, you would have made about $5,100 from those 7,500. So you would have been better off investing it instead of dumping it into the loan.
See? we're in the rabbit hole now. But to stop us from going deeper...there are many many variables and options for those that get the rebate. It's as I said several posts ago...it's very nuanced and not straightforward at all...
- The interest rate can vary for many people and at different times, so yes, the 5% was just a round number that made sense right now since rates are going higher.
- Yes, most people that buy a car whose base price is around 60k, generally are going to make more than about 50k per year.
What I meant here is that, if you buy the car in Jan and will actually get the entire tax rebate back, then that first year you are paying interest on the extra $7,500 you had to add to the loan until you get the rebate back. This was a simple calculation since as you stated: a) the rates can vary and b) you never get tax refunds in January of the following year anyway...more like March or April...so you would really pay interest on that extra amount for about 14-15 months. Now...here's the rub:
If you get the money back March of the following year and you don't put it all towards the loan right there and then, you will continue to pay the interest on those $7,500 (because they will continue to make up part of the balance of the loan) until you lower the loan principal by that amount. In essence you added $7,500 to the price of the car at purchase time because the rebate isn't instantaneous...then when you did have the rebate...you never paid the principal down with it.
So if you just pocket the rebate then you are paying interest on $7,500 in the loan amount that you could have avoided by paying it down with the rebate amount.
Where it starts to get complicated is if you had a "hot stock tip" and you invested those $7,500...and you made 10% compound interest over 5 years. Using a simple variance of 3%, you would have made about $5,100 from those 7,500. So you would have been better off investing it instead of dumping it into the loan.
See? we're in the rabbit hole now. But to stop us from going deeper...there are many many variables and options for those that get the rebate. It's as I said several posts ago...it's very nuanced and not straightforward at all...
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I put mine in in January 2022 and qualified for $5000 on the VF9. I got my voucher code and VinFast ID details. Can’t wait to see plans for expansion and delivery of the VF9 for 2022 or 2023. Waiting for more details!
Unless you are willing to pickup the vehicle in California, it's possible the voucher might expire by the time they open centers in other states (by end of 2023).
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Well…they better be super damn good to be able to convince me!
I drive the 2022 Volvo C40 P8 electric recharge ultimate, which is a beast of a sexy power machine. To what I am reading the VF9 comes a bit close to power and torque but doesn’t completely beat the specs of the C40. I have 7 months of EV driving experience now so I won’t pretend I am EV dumb anymore! 🙂
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