$7300 Final Price

[CompTrex]

To confirm, we cannot ask for a refund if we put a deposit down of $100?

Depends upon if you went all-in (non refundable) or want in (refundable)

 

[Ekh]

So it looks like EM and the ATVM folks have been discussing EM's application. And EM seems to have gotten the impression that full binding commitments at $7000 will satisfy the requirement that the applicant demonstrate the ability to pay back the ATVM loan.

But 65,000 X $1500 (I think this was the projected profit per vehicle) = $97,500,000. The loan application was for $185M. So where is the remaining $87,500,000 coming from? I wonder if EM has some investors willing to co-sign on the loan and would be responsible for making up the gap?

Hey, Floyd, they don't have to have commitments for the entire amount. They need to demonstrate that there's enough commitment in the market place for the Elio to be a viable car. When you consider Mini Cooper is still here, selling 41,000 cars in 2015, and they're viable -- well, 56,000 is a pretty strong showing for a newbie without any advertising.

Other cars that sell less than you might imagine, but have been around a while appear below. Some are ridiculous -- Lamborghini and Elio don't even breathe the same atmosphere -- but some of these brands are familiar, and a few might be direct competitors for Elio. Mitsubishi, Mini, and Fiat are all in our league. These are BRAND, not model, sales:

So 56,000 looks pretty darn good.

 

[Andrew J]

Except this IS a big deal.
Currently, we are already out $1000. No matter what, car or no car, we're not getting that back.
Now if we commit, we have committed to spending $7000 on something, but we don't know what. As long as ELIO sells SOMETHING that resembles a car, we are committed to buying it for $7000. It may get 30 MPG. It may be electric. It may have 4 or 2 wheels. It may be a glorified moped, but we are going to buy it for $7000.

If this is the case, I wish the email was a bit clearer. Exactly explain what the binding commitment means and that it is different from the all in reservation. It is a bit unclear, I initially thought that I didn't have to do anything and couldn't get the lower price because I was already All In. It took a bit of reading to realize what it was saying.

 

[Sr.MailMan]

65000 ($1000) all in = 2018...maybe.
And you guys thought the cruise control was going to be free.

I am committed for $7000.00,but I am wondering if the % off early discount was just signed away too !
Either way I still want My Elio.

 

[Thomas Maule]

Signed!

 

[Macadamean]

On Facebook Elio was asked:
"If you were all in at a thousand. They offered us the $500 off and then another $250 a while back. Will this still be applied to final price?"

Elio responded:
"Elio Motors Hello Mike, yes, your reservation bonus will still be applied to the purchase price of your Elio."

This is the information I was waiting for to commit.

 

[wjdom]

Anyone get emails confirming that they have been Locked In yet?

I spoke to someone @ elio they said an email confirmation may take as much as a week, depending on volume of reservations. I am sure they are being swamped about now!

 

[creekstone]

BINDING agreement

How is Elio going to force purchasers to honor their binding agreements?

I get how some $1000 reservation holders have no problem with the binding agreement. They already took a leap of faith.

But some of us took a more conservative approach. (For example, I went all in with a nonrefundable deposit of $100 in July 2013.) I'm locked at the $7300. That's great; thank you Elio Motors! But an additional $300 discount might not be enough incentive to sign a $7000 binding agreement for us conservative types.

So I'll ask again, how is Elio going to force purchasers to honor their binding agreements? (I'm sure the ATVM Program would like to know too.)

 

[wjdom]

Except this IS a big deal.
Currently, we are already out $1000. No matter what, car or no car, we're not getting that back.
Now if we commit, we have committed to spending $7000 on something, but we don't know what. As long as ELIO sells SOMETHING that resembles a car, we are committed to buying it for $7000. It may get 30 MPG. It may be electric. It may have 4 or 2 wheels. It may be a glorified moped, but we are going to buy it for $7000.

I see that you have been on this ride long enough not to believe what you just wrote is going to happen. Where is this negativity coming from?

 

[JNR]

BINDING agreement

How is Elio going to force purchasers to honor their binding agreements?

I get how some $1000 reservation holders have no problem with the binding agreement. They already took a leap of faith.

But some of us took a more conservative approach. (For example, I went all in with a nonrefundable deposit of $100 in July 2013.) I'm locked at the $7300. That's great; thank you Elio Motors! But an additional $300 discount might not be enough incentive to sign a $7000 binding agreement for us conservative types.

So I'll ask again, how is Elio going to force purchasers to honor their binding agreements? (I'm sure the ATVM Program would like to know too.)

I agree. I'm all in a $1000 and invested $1000 of stock. $300 is not all remotely enough to entice me to sign a binding agreement the way it is currently written.

I would only sign a binding agreement if there was an out date or production date set in stone. I know that is not realistic to set the production date in stone. But his latest offer is huge risk on the buyers part with no risk on his part with a tiny reward.

But as Paul says, he can get funding elsewhere, so I'm at the point where I would like to see him get that funding elsewhere. I will not sign a binding agreement and then be forced to receive a car in 2019 when I may have no need for it or God forbid, some reason I am no longer in a position to pay for it.