Tesla Model 3 Reservation Holders Asked to Put Up $2,500 to Place Order

Sam McEachern
by Sam McEachern

Tesla Model 3 reservation holders have been asked to pony up an extra $2,500 in order to turn their “order” into a “reservation.”

According to CNBC, those Tesla buyers who paid Tesla the fully refundable $1,000 deposit to reserve a Model 3 order can now put up another $2,500 and place the order for their vehicle. Customers have the ability to cancel their order three days after putting the $2,500 down, but after that, the $3,500 they paid for the vehicle thus far will belong to Tesla.

The $3,500, (the $1,000 depsoit plus the $2,500 order confirmation), contributes toward the total cost of the Model 3, of course. This is in line with how Tesla has conducted its “pre-sales” previously. Buyers who choose to put down another $2,500 are being told their vehicle will arrive within 2-4 months, but have not been given a set delivery date.

Because Tesla has not yet produced the $35,000 entry-level Model 3, many buyers who were hoping for the base version of the car will still be waiting a little longer for the vehicle. Many of Model 3s produced now retail for between $49,000 and $72,000.

SEE ALSO: The First Tesla Model 3 With a Performance Pack Has Been Built

The American electric vehicle maker is currently in a cash crunch, which is why CEO Elon Musk and his team have been focused on producing versions of the vehicle with higher profit margins.

The email to customers explaining the optional $2,500 payment, first published by CNBC, is quotations below.

“You can now design and order your Model 3. As we continue to add new options, we recently introduced Model 3 Performance — with an even faster acceleration: from zero to 60 mp in 3.5 seconds. Model 3 Performance also comes with dual motor all-wheel drive and every premium option available: 20″ Performance Wheels, performance brake calipers, Premium White Interior and a carbon fiber spoiler for improved aerodynamics. Design and order your Model 3 today for delivery in as soon as 2-4 months.”

[Source: CNBC]

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Sam McEachern
Sam McEachern

Sam McEachern holds a diploma in journalism from St. Clair College in Windsor, Ontario, and has been covering the automotive industry for over 5 years. He conducts reviews and writes AutoGuide's news content. He's a die-hard motorsports fan with a passion for performance cars of all sorts.

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