Elio Buyer Financing Options Discussion

[Jim H]

Cash

 

[Jeff Miller]

I love the enthusiasm on this board but the elio does have a bit more risk than other vehicles. By its design it will also have some very limited use issues with regard to passengers, storage, hauling capacity, etc.

I cringe when I see enthusiasts struggling with trying to buy an elio or even struggling to put in an all in reservation. If using credit is a matter of cash flow than it makes sense to pursue the various financing options even though it will ultimately result in the cost being much greater.

To me, the only justifiable way to buy the first elios is with cash that if you happen to lose it doesn't mean you will end up on the street.

 

[3 Card]

I love the enthusiasm on this board but the elio does have a bit more risk than other vehicles. By its design it will also have some very limited use issues with regard to passengers, storage, hauling capacity, etc.

I cringe when I see enthusiasts struggling with trying to buy an elio or even struggling to put in an all in reservation. If using credit is a matter of cash flow than it makes sense to pursue the various financing options even though it will ultimately result in the cost being much greater.

To me, the only justifiable way to buy the first elios is with cash that if you happen to lose it doesn't mean you will end up on the street.

They have my $1000.00 all in X's two..Also my interior design team is working on my big card board box located at my estate under a beautiful freeway bridge..

 

[Ty]

They have my $1000.00 all in X's two..Also my interior design team is working on my big card board box located at my estate under a beautiful freeway bridge..

LOL. I hope it's a brand-name box!

 

[Craig]

They have my $1000.00 all in X's two..Also my interior design team is working on my big card board box located at my estate under a beautiful freeway bridge..

I....am.....57 years.....old......I.....am......divorced.....and
I.......live.......in.....a......van.....down.....by.....the......river.
This......car......will......be.....a.....great......chick.....magnet.JMO

 

[Edward]

The balance of the car loan on the credit card? Yikes! Not only is that an expensive way to post for a car, but it would create a major ding on your credit to open a new card and immediately have almost 100% utilization.

 

[KaziQaleph]

I will be paying cash for the Elio, I hope I'm not forced to take a gas card, any info on this.

I would seriously hope a car company would deny a cash payment up front.

 

[KN16]

The balance of the car loan on the credit card? Yikes! Not only is that an expensive way to post for a car, but it would create a major ding on your credit to open a new card and immediately have almost 100% utilization.

It's only expensive if you carry a balance They claim the card fee will be low. The almost 100% shouldn't hurt it would be a secured card you wouldn't have the title until you've paid it off.

 

[Edward]

It's only expensive if you carry a balance They claim the card fee will be low. The almost 100% shouldn't hurt it would be a secured card you wouldn't have the title until you've paid it off.

The cost of the car is the card's balance. Secured doesn't matter when it comes to credit utilization. It's simple balance divided by limit.

 

[Jrc]

I would seriously hope a car company would deny a cash payment up front.

Why deny a cash payment? Car companies offer "cash back". Besides, I think they meant they'd pay in full.