TESLA Reservations: how do they work?

[SwedishRider]

I'm hoping to poll the infinite wisdom of BITOG. My daily driver is 8/9 years old, and I'll probably hang on to it for another 3-5 years. That said, I've been waiting for more info on TESLA's Model 3, and it appears that reservation pre-orders will be available around March 2016. For the purposes of this thread, let's assume there is a prototype that ends up going to market, and that TESLA does indeed take reservations by March 2016.

How does the reservation pre-order system work? If I were interested, would I put down $2500 (or whatever TESLA wanted) and then they hold it until they start delivery of the cars? Can I cancel and get a refund? How much choice in the car's options will I have? What if I dislike the finished product and want out of the agreement? What if my current vehicle is retired early or is totaled in an accident and I need to upgrade sooner? Can I get an immediate refund or do I have to wait?

I'm interested in pre-ordering as I think it'll be 2-3 years before TESLA gets the Model 3 to market, and that will coincide with the end of the road for my current vehicle. I don't know how TESLA purchases work, and my research is all over the board as to how it will unfold. Anyone purchase from TESLA or know the process and can comment? Thanks!

 

[raytseng]

First question, Why don't you just call or contact Tesla first?

Get the real answer from the people offering the deal.

 

[silverrat]

Go to the Tesla website and the Model X reservation page. Click the button to reserve and it will give you a Reservation Agreement. Some of your questions will be answered since I doubt their policies would be model specific and different for Model 3.

https://my.teslamotors.com/en_CA/own/basic

https://my.teslamotors.com/sites/default...ment-ca-pdf.pdf

 

[SwedishRider]

Good point.

I did check out those links, and they did answer most of my questions. Looks like the reservation system is NOT binding, and can be canceled by the buyer or TESLA at any time. No word on how long it would take to refund a reservation fee, but it doesn't seem like they'd hold it until the car was ready either way.

I'm going to keep my eye on the Model III. I think it may fit the bill and be delivered in just about the right time frame.

 

[HTSS_TR]

Me too. I'm waiting for Model 3 introduction March 2016 to see if this is the car I like to own for 10-15 years.

If it fits the bill I will place pre-order and deposit the required amount and wait for delivery in 2018, hopefully no later than end of 2019.