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First, you configure & pay your initial down payment of $ 2,500.
Next, you have two weeks to finalize your order.

At this point, your order gets put in line for production, but it has not started to be built yet.

Later on, you'll get notification that your car is being built. At this point, your deposit is non-refundable.
 
Here is from the Tesla site to place a deposit:


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Model S requires a $2,500 deposit, fully refundable for two weeks.
To pay, choose one of the following options:
 
Here is from the Tesla site to place a deposit:
Model S requires a $2,500 deposit, fully refundable for two weeks.
To pay, choose one of the following options:

This is the from the actual Model S order agreement (i.e. terms and conditions):

You will have two weeks from the date you accept this Agreement to make
changes to or cancel your Vehicle Configuration. During this two week period, your deposit amount is fully refundable. After the
two week period, you will receive an e-mail confirmation that your Vehicle Configuration has been sent for production. At this
point, your deposit becomes non-refundable.

In other words, the deposit becomes non-refundable when the the Vehicle Configuration is sent to production. Normally this is two weeks after placing the deposit. Just out of curiosity, why would anybody pay the order deposit if they aren't ready to order the car?