[venning]

Last I read, Tesla is holding $985MM in customer deposits. [1] Now they are asking for, I'm assuming, full payment for cars starting at $48,000. However, the soonest one can be delivered is in "two to four months" and that's only for the trim that starts at $64,000. Plus there are now quite a few options costing in the thousands.

For every 10,000 customers that place an order of the, likely, several hundred thousand current deposit holders, that's somewhere around $600 MM in additional customer money that Tesla would be holding. For every 10,000 customers. But that money won't deliver a physical product for months.

Is this a play to make billions more in deposit money? Is this how they plan to take no more investment/debt this year?

Is there anyone on the list looking to buy one that can confirm if this requires full payment?

EDIT: Apparently, the ask is for an additional $2,500. [2] That would make $25MM per 10,000 customers that place an order.

Putting forth the additional $2,500 also removes the ability for you receive a refund of the original $1,000 deposit if you do not cancel within three days.

[1] https://www.bloomberg.com/graphics/2018-tesla-burns-cash/

[2] https://www.cnbc.com/2018/06/28/tesla-model-3-orders-cost-25...

[Matt3o12_]

> Now they are asking for, I'm assuming, full payment for cars starting at $48,000

A quick searched reveled that the final payment is due at delivery, or shortly before deilivery [1].

When you finalize configuration, Tesla asks you for a $2500 non refundable deposit (although I have heard that they refund it in some circumstances as a matter of goodwill). This deposit is the same for all models even the Model 3, as stated here [2]:

> And finally when you’re ready to place your order, a deposit of $2,500 is required which isn’t any different than placing an online order for a Model S or Model X.

The only thing I cannot tell you is if the initial deposit counts toward the 2500 deposit or the final price. So Tesla doesn’t get billions in deposits and doing that would probably cause a lot of logistical problems and the media would scream that they are scamming customers and only do that because they are about to go bankrupt.

[1]: https://forums.tesla.com/forum/forums/payment [2]: https://www.teslarati.com/tesla-model-3-design-studio-config...

[venning]

According to CNBC:

> Those reservation holders must pay an additional $2,500 to turn their reservations into an order, at which point the original $1,000 deposit goes toward the overall payment for the car. Buyers can cancel their orders within three days for a full refund, the company confirmed, but after that their money is Tesla’s for good.

https://www.cnbc.com/2018/06/28/tesla-model-3-orders-cost-25...

[frgewut]

They say that cars will be delivered in 2 to 4 months. Also ordering costs $2500.

I thought it is common to pay full amount upfront upon ordering cars, then wait a month or two for actual delivery.

[oblio]

It depends on the place/country, regarding the payment.

Regarding the delivery, there's two aspects: the first one is that delivery can take even more, even for regular cars. The second one is that I wouldn't be too confident as a Tesla customer, that I'll get the car in 2 to 4 months. 6+ months seems more realistic, based on their track record.

All-in-all, if you really like the car, it doesn't seem a blocker.

[greglindahl]

It is, with the proviso that it's rare for Americans to order a car before it's made -- we mostly buy them "off the lot". Tesla is unusual in that regard.

[CJefferson]

Are any of these deposits protected? I assume when Tesla folds, they will all be lost?

[greglindahl]

You can get a refund of the deposit at any time for any reason -- but no, it's not in escrow or anything. Dunno about the order payment.

[aerovistae]

Why would Tesla fold ?

[greglindahl]

The deposit for a Model 3 is $1,000.

[venning]

But the article isn't about offering deposits. It's about ordering.

[codeulike]

EDIT: Apparently, the ask is for an additional $2,500. [2] That would make $25MM per 10,000 customers that place an order.

Right, and so the premise of your original comment no longer applies. Or am I missing something?