Reservations: 65341 As Of 6/20/2017

[Marshall]

You need to subtract the equity value remaining over the course of the 4 years for it to be equivalent. Sure you may be spending $606/month on new Prius, but after 4 years you own a ~$16,000 near liquid asset.

I wish. My 2014 Prius is only worth about $11K according to the dealers I checked when looking for an upgrade. In two more years I hope it's worth $8K. Of course I never paid $606/mo. either, I traded in my 2000 F350 which oddly enough was also worth about $11K off the Prius.

 

[Coss]

The high % of non-refundable is amazing! However, the folks with refundable reservations are assured of getting a first production run Elio sooner than the guy on the street with no risk. They are still financially supporting the dream and are as confident it will go into production as the non-refundable reservationist up until they decide to request a refund.

The refundable deposits are in an escrow account; so they're not being used. Just an FYI

 

[Sethodine]

The refundable deposits are in an escrow account; so they're not being used. Just an FYI

BUT, it does represent a large cash infusion once the Elio officially goes into production

 

[BiloxiGeek]

BUT, it does represent a large cash infusion once the Elio officially goes into production

I don't think they can count on that. Just because they start production won't change the refundability of that money. A potential customer could still even then request their money back. But Elio can count on collecting interest on that money while it's in escrow at least.

 

[Coss]

I don't think they can count on that. Just because they start production won't change the refundability of that money. A potential customer could still even then request their money back. But Elio can count on collecting interest on that money while it's in escrow at least.

You can't make money on an escrow account; however you earn credits that are as good as money, but you can only use it with approved vendors.
It's mostly used for office equipment and day to day office operational supplies. I worked in the Title and Escrow industry for 18 years; think about how much money is held in escrow on the buying and selling of houses and commercial property; those escrow accounts are in held short term high yield accounts. The Title & Escrow business is a very "grey" area and most people have no idea what goes on there.

 

[Marshall]

You can't make money on an escrow account; however you earn credits that are as good as money, but you can only use it with approved vendors.
It's mostly used for office equipment and day to day office operational supplies. I worked in the Title and Escrow industry for 18 years; think about how much money is held in escrow on the buying and selling of houses and commercial property; those escrow accounts are in held short term high yield accounts. The Title & Escrow business is a very "grey" area and most people have no idea what goes on there.

Laws dealing with Real Estate tend to be much more restrictive than general business laws so some restrictions may not apply to cars.

 

[Coss]

Laws dealing with Real Estate tend to be much more restrictive than general business laws so some restrictions may not apply to cars.

It's still an escrow account held by a bank; the interest earning it is illegal to make money off money you are just holding.
On escrow, it's the same.

 

[AriLea]

Time for an update, 55,488 + 286 = 55,774. Averaging more than 40/day this week.

At that rate 106 days to reach 60,000.

But, IMHO, the rate will change when we see all 23 test cars made and tested. And again when 100 pilot units are in fleet customer hands.
Trivial compared to what we'll see when the first production Elio hits the road.

 

[Coss]

I remember when we were talking about hitting 40,000
And 3,000 members here (we're now at 3,615)

 

[Rob Croson]

Not much change. Still plugging along.