Tesla Model 3 reservations open March 31 for $1,000

Tesla is set to unveil its highly anticipated Model 3 car later this month at an event on March 31. We still don’t know many of the final details for the affordable electric vehicle, but the company just revealed how reservations will play out.

You’ll be able to reserve your own Model 3 on the day of the unveiling even though Tesla won’t actually start production until late 2017. Tesla is charging $1000 to hold your place in line but will offer refunds to buyers who change their minds later.

The best way to reserve a Model 3 is to visit a Tesla store on March 31 but reservations can also be made online. Current customers will get priority.

The Tesla Model 3 will arrive in the western U.S. before launching on the East coast. They’ll arrive in Europe after that, probably sometime in 2018.

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