Full refund on Model 3? Includes Order Payment and taxes?

[ebwb]

Per the announcement on Tesla's blog today:

"We are also making it much easier to try out and return a Tesla, so that a test drive prior to purchase isn’t needed. You can now return a car within 7 days or 1,000 miles for a full refund. Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free. With the highest consumer satisfaction score of any car on the road, we are confident you will want to keep your Model 3."

Is it truly a full refund, or do you lose your $2,500 Order Payment? The updated Return Policy is unclear:

Return Policy

The Order Agreement haven't been updated, which states:

"If you cancel or default in this Agreement after your order is matched to a Vehicle, you will not be refunded your Order Payment as it has already been earned by us in taking and processing your order and preparing your Vehicle for delivery"

https://3.tesla.com/assets/pdf/model3_order_agreement_en_US.pdf

Seems like buying the car (and paying for it fully) -- and then returning it within 7 days -- does not constitute a cancellation or default of the Agreement, so you would get the Order Payment back, as part of your refund.

That's my read of it at least. Anyone know for sure?

 

[Sharkdiver76]

There has to be some catch, 7days is a long time. I would think you would be out the $2500, wasn't this the case in the past? Otherwise people can order a performance 3 and have a fun vegas road trip.

 

[Knightshade]

The $2500 loss is if you cancel before taking delivery

A full refund is a full refund. It's kind of in the title.

 

[jscmanson]

NOTE: The refund will not be given if you get a grant or rebate under one of the many programs in the Country, read the fine print!

 

[OCR1]

You will get a full refund including deposit and all taxes.

But it could take up to 60 days before Tesla gets around to issuing the refund. And if you take out a loan you will likely have to pay the bank interest accrued from the day Tesla cashed your check. And if you return the car the bank can’t use the car to secure the loan, so it’s possible they may demand full repayment before Tesla issues their refund. So if you are thinking of returning the car and buying another car right away (regardless of whether it’s another Tesla or something else) you will have to figure out how you will need to pay for it while waiting for your refund from Tesla. It’s possible that using Tesla financing rather than third party may alleviate some of these issues, but I don’t have first hand experience with this.

So while it sounds incredibly convenient, it can get complicated.

 

[jscmanson]

I get the difficulties about car loans, refund timings, etc, but I never got that far, Tesla refused to take the car back, in writing, citing the clause that excludes refunds if the car has been purchased through any kind of grant or rebate program. Full Stop. This occurred in BC Canada, I can't vouch for policy in other areas of the Country. All electric cars purchased in BC under 77K are eligible for a 5k rebate, as was the one I purchased.

John