[bro1999]

www.insideevs.com/heres-happens-cancel-tesla-model-3-reservation/

Majority of people that cancelled their reservations have reported it taking more than the 3 weeks Tesla stated their refunds should be processed in...with some waiting months and still not receiving their deposits back! Tsk tsk Elon. That's not how you run a business. I mean the father of PayPal should know how to issue refunds promptly! What a joke.

 

[obermd]

Now we know why the Junk Bond issuance - it's to cover the refunds.

 

[jsmay311]

Now we know why the Junk Bond issuance - it's to cover the refunds.

Well... even if there were 100,000 cancellations/refunds, that'd only be $100M. The reported amount they're trying to raise is $1.5B.

And the cancellations would be partially offset by new reservations. So that's not a likely explanation. (Or at least it would only account a small portion of it.)

 

[Raymondjram]

I was interested in the Model S several years ago, visiting their showroom at Danica Beach (near the airport) in Fort Lauderdale, Florida. But I never had interest in the Model 3 since it has no functional dash controls (only a touchscreen tablet in the center), and it misses features from the Model S. I never put up money to reserve a vehicle unseen (the first Chevy Volt owners did), but if that reservation is refundable, it should be returned as quickly as it was paid.

I am still waiting for the Volt (since 2010) or the Bolt EV to reach my area as soon as my local GM dealers can sell and service them. So I will continue to wait until a U.S,.branded BEV is available.

 

[DonC]

Wow, a company that takes your money way faster than it issues refunds. Who would have thought? LOL

Two or three weeks would be reasonable. That wouldn't be sandbagging. However, refunding seem extremely slow in a few cases. I suspect it's just a lack of procedures. Tesla is not known for having polished protocols. Not likely it's a cash flow process but given how many CFOs Tesla runs through I guess that's possible.

To put this in perspective, my favorite refund, or lack thereof story, was when my wife mistakenly added a zero to an online credit card payment. IOW she paid $31,230 rather than $3123. Despite things being obvious, because of "fraud prevention" is took almost six weeks to get the payment overage refunded.

 

[bro1999]

Wow, a company that takes your money way faster than it issues refunds. Who would have thought? LOL

Two or three weeks would be reasonable but it does seem extreme in a few cases. I suspect it's just a lack of procedures. Tesla is not known for having polished protocols. Not likely it's a cash flow process but given how many CFOs Tesla runs through I guess that's possible.

To put this in perspective, my favorite refund, or lack thereof story, was when my wife mistakenly added a zero to an online credit card payment. IOW she paid $31,230 rather than $3123. Despite things being obvious, because of "fraud prevention" is took almost six weeks to get the payment overage refunded.

Plus maybe the company had to prepare a little extra paperwork to prove it wasn't money laundering or something. Lol

 

[11715]

It took me over 3 months to get a refund from Frontier phone co after i cancelled the service.

 

[Upper5Percent]

Refunds from businesses are always slow...

 

[Steverino]

What next? Chevy dealers who recommend oil changes at 3,000 miles on the Volt? Cable companies who don't show up when promised?