As the title says, I bought a 3800w 240v element to replace my old one but when I pulled the old one out of the water heater it is a foldback style, the new one is a straight one. Do I need to return the one I bought or is this OK to use?

If it will physically fit and does not contact the far side of the tank I would say use it.

Cool, thanks. I figured it would work, just not last as long as a low density. I'm ok with that. Thanks for the quick reply!