For those who reserved on the first day, your reservation is probably now worth more than $1,000. Future reservations will probably miss the Federal tax credit and will have a much longer wait time. If you are an early reservationist and are considering cancelling, you might want to hold on to your reservation to cash in when production starts. At that time, Tesla will require you to buy your Model 3. You can take the Federal tax credit and the state (California up to $4,000) rebate and then sell the car to a family member or friend for the list price (I would recommend configuring your Model 3 with the buyer together at a computer to be sure of agreement on the options and price). The buyer gains by getting the car sooner. You gain by the Federal and state incentives (could easily be $10,000) - a win win! Or better yet just buy the car for yourself - YOU WILL LOVE THE CAR. Do not cancel your order (unless you need the $1,000).