Two defective pieces in a row - unreasonable to demand refund?


Ordered a McIntosh MA8900 from my dealer in December. First one had cosmetic damage out of the box so they swapped it out for a new one. The new one won't power on (just get the standby light). McIntosh said they would replace it again but I'm frankly done, just want my money back at this point. The dealer has a no refunds policy. Should I accept a 3rd new unit or insist on a refund?
lostark
You stated in your original post the store has a no refund policy.

I don't understand your question.

Am I missing something?
@audiodwebe

You are. Store policies aren't laws. If I don't receive what I paid for they can't just keep my money. Hence my question whether it would be unreasonable to demand a refund, meaning not simply request, but insist in lieu of filing a chargeback. As someone else mentioned, no return policies are generally meant to prevent tire kickers, not to shaft established clients. Exceptions to every rule etc. etc.
A local merchant's policy might not be able to usurp local laws. between credit card protections and local governance, you might have options. 
Take the 3'rd lets face it, it's most likely not either the manufacturer or dealers fault its most likely the shipping company's that it failed on delivery. I'm sure Mac tries every piece they build so most likely its a shipping issue. there's thousands of reliable mac's out there from decades of use. so I'd not worry about the two issues they are not related anyway. also they are responsive and taking care of your issue with out delay I'd say that also has merit.