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$7300 Final Price

Ekh

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Lets do some quick math.
From 2012 to 2016, we have seen inflation of 5.7%. This is below average, but we'll use it anyways.
If we project 5.7% inflation into the future 4 years, then by 2020 your "Locked-in" price of $7000 will be worth $6601 in 2016 money. So by locking in today, you are actually proofing your future Elio purchase against inflation.
Sorry to say this -- the national inflation rate for the past 60 months has been 6.7% TOTAL. Not annual, total.
Inflation Rate in the United States, 2016 - StatBureau

So since the price difference between the original concept price and today's "real" price is 7.3%, that's pretty dam close to a wash. The real (net of inflation) difference is 1.6%, and yet the car has many features not originally included, such as cruise control, power door lock, etc.

Someday people will see what an incredible job Paul did with his doodle back then. Uh, wait, that sounds a little off -- with his back-of-the-napkin doodle back then. It's an extraordinary accomplishment.
 
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bighammer

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This is worth saying again! I did not understand at first,,, second,,,,, and third time I read the letter. But I kept wondering what's the difference in "all in, non-refundable" and "Binding". Well,, it's $300.00!!
DO IT!!!

I see the $1000 All-In as put up your money, and you can still walk away. ($1000 lighter)

Binding commitment is commitment to put up another $6000 and take delivery of an Elio.
 
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JNR

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Lets do some quick math.
From 2012 to 2016, we have seen inflation of 5.7%. This is below average, but we'll use it anyways.
If we project 5.7% inflation into the future 4 years, then by 2020 your "Locked-in" price of $7000 will be worth $6601 in 2016 money. So by locking in today, you are actually proofing your future Elio purchase against inflation.
Trust me, I got that before you wrote it. That is part of the equation, for me the more important part that many are either glossing over or just perfectly ok with is this: with the commitment as written, the signee has agreed to receiving and paying in full at ANY TIME in the future for a vehicle that meets some goals- but not a fully designed and tested vehicle.
 

Sethodine

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Trust me, I got that before you wrote it. That is part of the equation, for me the more important part that many are either glossing over or just perfectly ok with is this: with the commitment as written, the signee has agreed to receiving and paying in full at ANY TIME in the future for a vehicle that meets some goals- but not a fully designed and tested vehicle.

Any lawyer worth their salt would be able to tear this so-called "commitment" to shreds. Literally, the entire purpose of this exercise is to weed out people who are not fully committed to the Elio, which is perfectly fine. Don't worry, and don't sign it :)
 
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