When you place an order for a Tesla, you’re typically required to pay a non-refundable order fee to secure your vehicle. However, if your financing falls through and you can no longer proceed with the purchase, the situation becomes a bit more nuanced.
Tesla’s Order Fee Structure
- Order Fee: Tesla generally requires an order fee of around $250, which is paid when you reserve or order a new car. This fee is meant to hold your place in the queue and is part of the purchase process.
- Refund Policy: Tesla’s official stance is that the order fee is non-refundable, meaning that, in most cases, you will not receive it back if you decide to cancel or if the financing doesn’t go through.
What Happens if Financing Falls Through?
If your financing falls through after you’ve placed your order, the outcome can depend on a few factors:
- Tesla Cancels the Order:
If you’re unable to secure financing through Tesla or a third-party lender and decide not to proceed with the purchase, Tesla may cancel the order. However, the order fee is still typically not refunded. - Financing Issues Before Delivery:
If you’ve been approved for financing but run into issues before delivery (e.g., your loan falls through), Tesla might work with you to resolve the situation or extend the payment window. Again, the order fee is usually not refundable. - Tesla’s Flexibility with Financing:
Tesla does allow you to apply for financing directly through their platform, and they provide options like leasing or using a third-party lender. If you’ve opted for financing and the process fails, you may need to either secure alternate financing or choose a different payment method. - Special Circumstances:
In rare cases, such as unforeseen circumstances or if there’s a mistake on Tesla’s part regarding your financing, Tesla might be more flexible and offer a refund. However, this is not the norm and would be handled on a case-by-case basis.
How to Avoid Losing the Order Fee
If you’re concerned about financing falling through, here are some tips to minimize the risk:
- Secure Financing First: Consider obtaining pre-approval for financing before placing your order, whether through Tesla’s finance options or an external lender.
- Know Your Budget: Make sure that your financing options are aligned with your budget and that you’re confident in your ability to secure the loan.
- Contact Tesla: If you’re having trouble with financing, reach out to Tesla’s customer service. They may be able to help with suggestions or extensions.
Final Thoughts
The Tesla order fee is typically non-refundable, even if financing falls through. If you find yourself in this situation, it’s a good idea to contact Tesla directly to explain the issue. While the fee is non-refundable in most cases, there may be some flexibility depending on the circumstances.
