Model 3 Available Without Reservations

Tesla makes Model 3 sedans available without reservations to US and Canada


Tesla is now going to take orders for its Model 3 electric sedan through the United States and Canada with no reservations required.

Prior to this, those who wanted to own Model 3 had to pay $1000 as deposit to secure a slot in line to buy the car.  Now, anyone living in North America can order a vehicle through Tesla’s website.

Those who have already reserved a Model 3 sedan early aided Tesla to get a feel of the market’s demand for the cars well before the company was manufacturing them.  Their Model 3 deposits also gave Tesla some sort of an interest-free loan.

Reservation orders as well as new customers are required to pay a $2,500 deposit to move their Model 3 orders forward.  The deposits go toward the total cost of their cars.  The $2,500 to $3,500 total deposit is going to be unrefundable once the automaker designates a vehicle identification number to the customer, usually a few days after they placed the order.

The company has required $2,500 deposits from people trying to buy its earlier Model S and Model X vehicles.


Customer who wanted refunds both on their $1000 reservation and $2,500 deposits in recent weeks disclosed that Tesla repays reservations in about two weeks, though refunds of the $2,500 deposits are paid directly to their credit cards within a few days.

The company also stated that orders for the Model 3 will be filled in priority order based on a variety of factors that include whether the customer placed a reservation or not, the date of the order, their choice of vehicle configuration, as well as the location of the delivery, according to the company.

The company also said that it plans to give reservation holders the priority to buy those cars first once Tesla makes new Model 3 options available.  Some reservation holders are awaiting the base version of the Model 3, which Tesla has promised to sell for a very affordable price of $35,000.  Others are eyeing the Dual Motor and Dual Motor Performance versions of the Model 3.

So far, Tesla has managed to manufacture versions with premium features, such as longer range, a higher top speed and all-wheel drive, which cost between $49,000 and $72,000.

Tesla finished the first quarter with a cash balance of $2.7 billion.  It added then that it expects to spend $3 billion.

Deposits for Model 3 vehicles could give Tesla some of the cash that it needs without being required to further dilute earnings through issuing debt or stock sales.  Premium Model 3s could also help Tesla in its quest to achieve profitability this year as the company tries to encourage customers to commit to higher-priced cars.

Subscribe now to FSMNews and get your daily dose of information about forex, commodities, stock markets, technology, economy and a lot more. The latest market events are here at FSMNews.

I Like this Article

Start Trading with Top Industry Brokers

Company Regulation Spread on Majors Deposit Info



  • Automobile Industry
  • General

Boeing To Cut 777 Producti...

Posted on May 10, 2016 And Got 300 Likes


GM Sales in China Surge

Posted on May 30, 2016 And Got 293 Likes


Why Analysts are Bullish o...

Posted on May 27, 2016 And Got 288 Likes


Toyota Innova Kirloskars

Posted on March 14, 2016 And Got 286 Likes


Nissan to Buy 34% of Mitsu...

Posted on May 12, 2016 And Got 277 Likes


Coca-Cola Amatil Shares Di...

Posted on October 24, 2016 In Consumer Products And Got 859 Likes


Dollar Remains Roughly Hig...

Posted on April 6, 2016 In Forex And Got 746 Likes


Ways To Use The Golden Cro...

Posted on September 16, 2016 In Trading Strategies And Got 662 Likes


Amazon Seals $400M Salesfo...

Posted on May 27, 2016 In Technology And Got 587 Likes


Dollar Steadies Against Eu...

Posted on May 27, 2016 In Forex And Got 561 Likes