Why Order Payment?

Why Order Payment?

Trying to find a way to buy the Model S, but found out today that you have to make the $2500 order payment. Based on some articles I read, I thought this would be part of the down payment. Not so. I am trying to stretch myself a to buy this car and the order payment killed it. I don't understand why one has to pay to order the car. As it is Tesla is charging for color.

Has anyone had any luck getting this order payment waived?

Model S 75 : 69500
Color 1000
AutoPilot 5000
Dest. Fee 1200

Sub total: 76700
Sales Tax: 6903
Registration: 597
Order Pay: 2500

Total 86700

Captain_Zap | September 16, 2017

You are credited the reservation fee when your paperwork and loan are finalized.
Something doesn't sound right here. Did you change your order after you placed it?

junk_this_1 | September 16, 2017

I did not place the order, as I was told I has to pay the $2500 and there was no mentions of this being credited back once the loan was finalized. I would have been ok with that. Maybe I need to talk to some else at Tesla about this.

Captain_Zap | September 16, 2017

That sounds like a good idea.

reed_lewis | September 16, 2017

The $2,500 is a deposit and is applied completely to the price of the car.

Solarfan | September 16, 2017

It is earnest money. Shows that you are serious.

Bob12345 | September 16, 2017

Don't stretch yourself for a car. Terrible idea.

junk_this_1 | September 16, 2017

Thanks all.

Appreciate your sentiment @Bob12345. I am still figuring out my finances.

Bob12345 | September 16, 2017

Take your time and be sure you don't put yourself in a bad spot. Teslas aren't going anywhere. I know that "gotta have it feeling" and I know the "what the hell was I thinking feeling" too. I had to learn the hard way in my younger days. Hope you don't.

Ohmster | September 16, 2017

The bank you finance will not credit you back the 2.5k. But your loan amount will be reduced by the same.

If, however, you want to finance the whole amount including the 2.5k you need the paperwork from Tesla to not show that as a deposit. Then have them right up a separate note that they will refund you the 2.5k post funding. That’s what a buddy had to do.

Ohmster | September 16, 2017

Note as others have stated. Be sure you can afford this long term commitment of payments.

sberman | September 16, 2017

I echo the sentiments of the above folks. Additionally, I would point out that once you submit that $2,500 deposit, you will be notified that your order will be "confirmed" some period later (currently 2 days). Once your order is confirmed, Tesla has earned the deposit, and it will not be refundable should you change your mind.

So be certain you can afford it (if in doubt, don't do it), and should you go ahead and place a deposit, be prepared to stick to your commitment to purchase.

Tldickerson | September 16, 2017

You might consider a CPO because they are a lot cheaper.

DRFLGD | September 17, 2017

You could consider dropping autopilot and adding it later, albeit at a $1000 premium (i.e. it will cost $6000 to add it later). Don't forget/you'll get a $7500 tax credit next year, and the longer you wait, the greater chance that's gone.

RandallKeith | September 17, 2017

$7500 tax credit is not guaranteed. Check with your accountant or whoever does your taxes to see if you qualify. Everybody's tax situation is different.

TeslaF1 | September 17, 2017

Yep, always be prudent with your spending. Don't ever stretch to buy a car. Agree with all the comments from the community.