Locked In

[Dante42]

So I have a question. Many of us signed up and dropped our $1000 early on and got that $500 bonus towards the car. By signing this new Locked In nonsense does that negate that bonus, making us agree to simply pay the $7000 price, ignoring our bonus?

This thing is getting sketchier and sketchier to me.

 

[Woofwoof]

i just received an email (as most of you had) discussing the fact that Paul Elio has locked in the final price of the base vehicle, which is now exactly $500 more than the $6,800 that Paul has talked about since the inception of this project.

I think it's more of a coincidence than anything else that those of us who were teased to go "all-in" would have incentive my getting an additional company match amount...now only to see the price of the base vehicle increased by....the same amount of company match.

Oh...you can save $300 from that by now entering into a binding commitment to purchase, but this now means if anything else changes at all, too bad, so sad.

I can't help but feel a little slighted by this move, especially amid the years that this has been delayed time and time again - but I'm not surprised by their action. It was the people who dropped their money early on for a product that at the time was vapor ware to only see the promise of the company match eroded away by their price increase.

/EndOfRant

 

[HonestTex]

Re-read paragraphs 2 and 6 of the original agreement. Those were the ones referenced in the email.

 

[james92se]

Do you even have any actual documentation of your $500 bonus? I did the same thing - paid $1,000 back in August of 2014 for the "bonus" $500.

Pulling back up my confirmation e-mail now all I can see on my receipt is that I paid $1,000 for a t-shirt lol. Literally all it lists is "Gotta Have It! - T-shirt size Large" for $1,000.

After that, they e-mailed me my spot in line (number 6,578) but it's interesting now that I can't find any trace/confirmation of the $500 bonus thing.

Even logging into my account on their website it lists nothing other than that I paid $1,000 for a t-shirt under my order history and it shows "complete" as order status.

I received that locked-in price e-mail this morning but frankly I don't even remember/know at this point what "level" I was at - I'm assuming the $1,000 I paid was the non-refundable option and that I am now locked-in at $7,300 and need to take no further action? Sure would be nice if Elio was a little more clear on the account information on their website.

 

[BlioKart]

7,300$ is about what I expected. I might commit if we have a solid time line on production so i can arrange the monies/financing.

 

[Chris Los]

I also seem to recall at some point getting an email that I was getting an additional $250 on top of my original $500 for being an early all in. ($500 + $250). I am confused. I will likely commit although I am loving driving my Leaf.

 

[John Lettelleir]

Signed.

 

[skychief]

i just received an email (as most of you had) discussing the fact that Paul Elio has locked in the final price of the base vehicle, which is now exactly $500 more than the $6,800 that Paul has talked about since the inception of this project.
I can't help but feel a little slighted by this move...

When I showed the wifelet Elios advertisement claiming $6800 sale price and 84 MPG, her response was "No way are they going to sell that little car for $6800!" I agreed, if my memory serves me.

Also, I think the expectation of 84 MPG is a bit ummmm ... lofty. We should rationally expect that number to be revised, as well. And the proposed vehicle weight [1260 pounds] will probably go up. Especially since EM opted for the metal body over the composite.

My point is, as time passes, my hopes and expectations of the Elio go down somewhat.

 

[Sethodine]

$7300 is the final base price of the car. Before, the $6800 was a goal, but now we have a concrete number you can count on.

If you already have a reservation, then no action is required on your part, this is just the official word on the final price.

HOWEVER, if you have a non-refundable reservation, you can shave $300 off of that price by "commiting to purchase" your Elio. If you already wanted to get an Elio, then you lose NOTHING. If you are thinking about not buying one after-all, then I guess you will lose your non-refundable reservation.

Why this "lock in your commitment" rigamarole? Well, by signing a committment, you show the Department of Energy your concrete interest in the Elio, which in-turn will allow Elio Motors to qualify for the ATVM loan, bringing them one step closer to production!

If you already wanted an Elio, and are OK with the $7300 final base price, then by locking in your commitment you lose nothing, but Elio Motors gains the funds they need to make this dream a reality.

 

[Sethodine]

Considering all of their financial documents with the SEC have indicated a "likely" base price of $7600, I am perfectly happy with it just being $7300, and even better with $7000!

$6800 was a goal and a dream. The agreement we all signed when we paid our reservations clearly stated that the final price could change, or that the Elio might never be produced and we could all lose our reservation money (unless you got a refundable). We knew it could change.

Now, we have a locked-in number that will not change on us. Hurrah!
Now, we can help Elio Motors qualify for the ATVM loan by simply committing to a purchase. How cool is that?