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I have to cancel my reservation now I'm out $5k according to Tesla [Now Resolved]

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JEROME GUILLEN
VICE PRESIDENT, WORLD WIDE SALES AND SERVICE

Jerome leads sales and service worldwide for Tesla. Jerome is focused on providing a delightful sales, delivery, and service experience which the Tesla customers are proud to recommend. Jerome is also responsible for Tesla’s geographic expansion driving the growth of stylish, customer-focused store and service centers. He was the Model S program manager during its development and led the vehicle engineering group through homologation and launch.
Prior to joining Tesla, Jerome created and led the Business Innovation department at Daimler, reporting directly to the chairman of the board of management. As Director, Jerome generated growth for the group and fostered entrepreneurship through a variety of initiatives. Before creating the Business Innovation department, Jerome worked with Freightliner LLC as General Manager of the Cascadia program, responsible for the development and introduction of a new generation of Class 8 trucks. Jerome managed all aspects of the development of the product line, including engineering, marketing, finance, purchasing, manufacturing, and quality control.
Jerome holds a Ph. D. in Mechanical Engineering from University of Michigan, in addition to an M.S. in Energy Technologies from ETSII in Madrid, Spain and a B.S. in Mechanical Engineering from ENSTA in Paris.
 
"Non-Refundable Deposit." How much more explanation does one need?

"Special Circumstances. This Agreement is subject to the two “Status of Your Deposit” paragraphs immediately above, however, if you have indicated in your order that you intend to finance the Vehicle, and are not able to obtain financing from us or another bank lender despite a bona fide, good faith effort to do so, you may cancel this contract and receive a full refund of your depositamount"

If you apply for a loan and tell the bank you are trying to get a loan but will not be able to pay it back, they won't lend you money. Tesla can either refund the money now before building the car or they could build the car, have the financing fall through then spend man hours determining how to sell it.
 
I am pretty sure you will get 2.5 k back. If you can 't get financing, you will get everything back . If your reason to cancel is financial , you can get entire deposit back since you can 't get financing.
Also your configuration is a very popular one and you can make money flipping it. Need to avoid double sales tax though if you can by joint titles etc. or exploring leasing it away.
 
Just a suggestion, if you can wait until the delivery day and line up a buyer before hand, you will be able to get all your money back, or with some luck maybe even make a small profit if the buyer is willing to pay a premium to avoid the waiting period. As for Fed. Tax Credit, you can get the Tax Credit, and reimburse new buyer or lower your price by 7.5K. Only drawback might be paying the Sales Tax twice.

Or take the joint ownership with the new buyer and then relinquish your rights.

At this point, I believe that continuing with the purchase would mean not being entitled to claim the tax credit, so I think joint titling would be the only way. However, that arrangement would need a lawyer and a lot of trust. :p

Barring that, I agree with others that unless the financing hardship rule applies, best to escalate, explain and ask for the $2.5k back.
 
Who says Tesla is not a great company???:love:
They are keeping $2500..... fair enough I assumed I would lose that, but I got a call today saying I don't lose it, they keep it as a credit to apply to the car when I get sorted:smile:
And they are refunding me $2500:biggrin: And today things looked up so today is a fricking awesome day:biggrin::biggrin:

Don't know why I am spilling this to total; strangers but you guys seem like a nice bunch to have a beer with.................and that's important

Thanks to everyone how offered advice.
 
Who says Tesla is not a great company???:love:
They are keeping $2500..... fair enough I assumed I would lose that, but I got a call today saying I don't lose it, they keep it as a credit to apply to the car when I get sorted:smile:
And they are refunding me $2500:biggrin: And today things looked up so today is a fricking awesome day:biggrin::biggrin:

Don't know why I am spilling this to total; strangers but you guys seem like a nice bunch to have a beer with.................and that's important

Thanks to everyone how offered advice.

Very happy for you. It just took some patience and taking your concerns to a level where someone could make a decision that went against 'stated policy'.