I remember hearing (and can confirm from old news articles, like this one: http://www.teslarati.com/details-behind-tesla-model-3-reservation-agreem...) that when Model 3 reservations went live, the $1,000 down payment was advertised as refundable.
The current sales agreement is slightly different and says nothing about whether the down payment is refundable.
Is the down payment still refundable? How do you know..?
I haven't seen a new agreement. Have you asked Tesla?
From the way it was told to me and from various articles, the $1000 deposit is fully refundable up until your car goes into production. Once they start making your car and you change your mind about wanting it, then you lose your deposit.
A sales agreement would be you buying the car, full price paid.
a deposit would be converted to cash payment on sale.
if you get refunded then no sales agreement would ever be signed.
So relax your deposit is safe until you ask for the refund or buy your M3.
There is a button on "my Telsa" page that says cancel reservation. If you click it it asks you why and provides further instructions. I think it is fully refundable.
Refund happens triggered by tesla with an offer, or you if cold feet.