Elio To Launch By Mid-2016 With 41,000 Reservations And Counting

[roadtrippin2016]

1. OLD -FASHIONED OPINION : Remember When ?...nothing against you gadget guys...but, for me and my house...just enjoying the open road and taking in the sights and sounds of your surroundings is what I have always enjoyed about driving...( moveable feast for the eyes! )...kindda' like sitting in the mall people watching except your moving seeing both people and scenery ! I've noticed since our attention is divided with everything going on with a good majority of drivers doing their muti-tasking while driving has caused me great concern while I'm on the road. My daughter just got a new car recently containing a lot of those options that everyone on this website is talking about. Our recent trip in the country early in the morning proved my point...I saw a deer in the distance with her young and when I asked her how about that ?...she replied, "What ?"....I rest my case...now, the radio or C.D. player is a must not to mention the GPS IS NICE...ESPECIALLY , since the wife now yells at the talking voice instead of me...God bless that inventor ! Everything else,...Please consider this : A good portion of those Elio buyers are going to be people that really need a low priced transportation that affordable. Mr. Litcher, (on Elio's Board of Directors) said,...look it up, I do not want to misquote the man...but, he speaks to this issue of making the Elio available to all...especially to the segment of our population that would not be able to afford the Elio if all those high tech gadgets were forced upon you to purchase....I'm just sayin'

 

[RUCRAYZE]

not being able to afford something hasn't been a consideration in acquiring /"buying" products. The segment of the population that cannot afford.....
Isn't that what folks of all income levels ascribe? how few buy cars for cash? "Saving-up", as my dad used to call it, embedded the notion if you can't pay for it- don't buy it.
To the dismay of my credit card issuers, I'm considered a deadbeat- I ALWAYS pay my bill in full each month,-and they lose $ on the float. !!!!

 

[roadtrippin2016]

not being able to afford something hasn't been a consideration in acquiring /"buying" products. The segment of the population that cannot afford.....
Isn't that what folks of all income levels ascribe? how few buy cars for cash? "Saving-up", as my dad used to call it, embedded the notion if you can't pay for it- don't buy it.
To the dismay of my credit card issuers, I'm considered a deadbeat- I ALWAYS pay my bill in full each month,-and they lose $ on the float. !!!!

I can tell by your post that you are much younger than I. Cash for a used car is exactly the era I grew up in. You saved until you could either pay for it in cash or at least a large enough down payment where the auto would be paid off quickly. Credit card can be used wisely by paying it in full...instead of high interest rates being charged to a unpaid balance. The Elio type credit card that they are working on seems to be unbelievable...( $10.00 worth of gas = $30.00 applied to card...$20.00 going towards the purchase of your Elio ) Habits and ways of life you grew up with don't usually change. I've wanted a new car to purchase for years because a full size truck was way too much for my budget...and, as your dad said, if you can't pay for it ...Don't buy it !...I agree...the $6,800.00 Elio is easier to save for than a $40,000.00 truck with high note payment that usually last longer than the truck you bought....I'm just sayin'

 

[CompTrex]

I can tell by your post that you are much younger than I. Cash for a used car is exactly the era I grew up in. You saved until you could either pay for it in cash or at least a large enough down payment where the auto would be paid off quickly. Credit card can be used wisely by paying it in full...instead of high interest rates being charged to a unpaid balance. The Elio type credit card that they are working on seems to be unbelievable...( $10.00 worth of gas = $30.00 applied to card...$20.00 going towards the purchase of your Elio ) Habits and ways of life you grew up with don't usually change. I've wanted a new car to purchase for years because a full size truck was way too much for my budget...and, as your dad said, if you can't pay for it ...Don't buy it !...I agree...the $6,800.00 Elio is easier to save for than a $40,000.00 truck with high note payment that usually last longer than the truck you bought....I'm just sayin'

Sadly, with the unrealistic cost of vehicles now, it's near impossible to save that kind of money up front.
It's too bad.

 

[RUCRAYZE]

I can tell by your post that you are much younger than I. Cash for a used car is exactly the era I grew up in. You saved until you could either pay for it in cash or at least a large enough down payment where the auto would be paid off quickly. Credit card can be used wisely by paying it in full...instead of high interest rates being charged to a unpaid balance. The Elio type credit card that they are working on seems to be unbelievable...( $10.00 worth of gas = $30.00 applied to card...$20.00 going towards the purchase of your Elio ) Habits and ways of life you grew up with don't usually change. I've wanted a new car to purchase for years because a full size truck was way too much for my budget...and, as your dad said, if you can't pay for it ...Don't buy it !...I agree...the $6,800.00 Elio is easier to save for than a $40,000.00 truck with high note payment that usually last longer than the truck you bought....I'm just sayin'

well, nice to be called much younger by anyone - I'm 72

 

[Rob Croson]

To the dismay of my credit card issuers, I'm considered a deadbeat- I ALWAYS pay my bill in full each month,-and they lose $ on the float. !!!!

That's not the way it works. The card issuer charges the merchant a fee on every transaction, usually consisting of a small fixed transaction fee, and then a percentage of the total amount. If you buy something for $10 on your Mastercard, the merchant may only get $9.50. (Or whatever, there are lots of credit processors and aggregation programs, etc.) That's why so many places have a minimum purchase amount for credit card transactions. The credit card companies aren't so stupid as to set up a program where they lose money when you use your card. Hell, they probably have a way to make money even when you don't pay the bill!

 

[RUCRAYZE]

That's not the way it works. The card issuer charges the merchant a fee on every transaction, usually consisting of a small fixed transaction fee, and then a percentage of the total amount. If you buy something for $10 on your Mastercard, the merchant may only get $9.50. (Or whatever, there are lots of credit processors and aggregation programs, etc.) That's why so many places have a minimum purchase amount for credit card transactions. The credit card companies aren't so stupid as to set up a program where they lose money when you use your card. Hell, they probably have a way to make money even when you don't pay the bill!

I hear what you're saying from the merchants interactions with the banks. Me as the consumer, waiting even a day and up to almost a month (if ya time the purchases)before paying your bill is money they don't have. Lending institutions make mucho bucks on the floats. Between losing interest charges, processing of purchases, statements, card "compromise"( the euphemism they use for stolen card or identity)
and daily float loses, it cost the bank money when you have no month to month balance. hence their "deadbeat" description
Just an aside, and something I've recently learned from a friend, if you run up big credit card debt, and pay the minimum amount on time, the banks and credit reports have you as a person with good credit. That's why he keeps getting card offers which only makes his finances worse.

 

[Rickb]

Sadly, with the unrealistic cost of vehicles now, it's near impossible to save that kind of money up front.
It's too bad.

1965 Caddy MSRP $6898 (average wage $4,658) 2013 Caddy MSRP $38-63,000 (average wage $44,888)

In '65 I had to work 1 1/2 years for my average salary to equal the MSRP and in 2013 only a year and I would have money left over if I was satisfied with the base model.

 

[Rickb]

That's not the way it works. The card issuer charges the merchant a fee on every transaction, usually consisting of a small fixed transaction fee, and then a percentage of the total amount. If you buy something for $10 on your Mastercard, the merchant may only get $9.50. (Or whatever, there are lots of credit processors and aggregation programs, etc.) That's why so many places have a minimum purchase amount for credit card transactions. The credit card companies aren't so stupid as to set up a program where they lose money when you use your card. Hell, they probably have a way to make money even when you don't pay the bill!

Yes the card companies make a small % of their income from at the point of purchase sale, but so much more on the 16-18% + interest rate charged for carrying a balance due. Card companies prefer the minimum monthly payment customers.

 

[ElioDigger]

That is why a department store ( like Kohls) will give you 20% off a purchase over $100 if you use your store card. They know that most will not pay the $100 off that month and charge you 21% interest on the $100. Netting them no less than a 1% increase in the sale amount. But Hay, You saved 20%....