General Reservation Questions And Comments

[zelio]

am I correct that all reservation levels are to be guaranteed a vehicle in the first years production?

That is the way I understand it. :-) Z

 

[Go Time Racing LLC]

Until reservations are stopped at 40K, only $1,000 'All-in' reservation holders are issued numbers. Everyone else will have numbers issued soon after the reservation period closes.

How long does it take to get a reservation number? I went all in @$1,000, got a confirmation e-mail, and money was taken from my account. Still waiting for a #.

 

[fpelsdca]

How long does it take to get a reservation number? I went all in @$1,000, got a confirmation e-mail, and money was taken from my account. Still waiting for a #.

It would be helpful to know the date that you made the $1,000 all-in deposit.

 

[zelio]

How long does it take to get a reservation number? I went all in @$1,000, got a confirmation e-mail, and money was taken from my account. Still waiting for a #.

In the past it has taken any where from 5 to 8 weeks. The last release was 5/12. :-) Z

 

[olddog1946]

Have NO FEAR, I got my t-shirt and sticker and a welcome letter...as I was unaware of the procedure I sent them an email , complaining about no #. they told me they send them out later,,,and I would be somewhere around 1435 or so...when I did get notified it was #1437...at any rate the number did come, I't s just one step in the waiting game.

 

[Jeff Miller]

I must be thinking too much of late but my latest on going nag that has been bothering me ever since I made my initial reservation at $250 is why would you reserve at anything other than $100 or $1000?

When I first reserved I was confused about what the levels meant and decided to go in at $250 thinking that this somehow put me ahead of the $100 reservations. Although that is true, i.e. a $250 reservation gets preference over a $100 reservation, the reality is that anything less than $1000 all in means you don't have a place in line. More importantly it means anybody can jump in front of you by upgrading at any point. I of course upgraded to $1000 after finally figuring this out.

The $100 all in makes sense for people that want to minimize their risk and still have an opportunity to get in on the first year's production. But does a $250 or $500 reservation make much sense? I guess it does mean that you could get an additional $75 or $200 bonus when you purchase your Elio which is in fact a lot more return than if you parked that money in the bank.

 

[Dustoff]

I must be thinking too much of late but my latest on going nag that has been bothering me ever since I made my initial reservation at $250 is why would you reserve at anything other than $100 or $1000?

When I first reserved I was confused about what the levels meant and decided to go in at $250 thinking that this somehow put me ahead of the $100 reservations. Although that is true, i.e. a $250 reservation gets preference over a $100 reservation, the reality is that anything less than $1000 all in means you don't have a place in line. More importantly it means anybody can jump in front of you by upgrading at any point. I of course upgraded to $1000 after finally figuring this out.

The $100 all in makes sense for people that want to minimize their risk and still have an opportunity to get in on the first year's production. But does a $250 or $500 reservation make much sense? I guess it does mean that you could get an additional $75 or $200 bonus when you purchase your Elio which is in fact a lot more return than if you parked that money in the bank.

Jeff,
I did what you suggest. First I went all in for $100 then after a few months of gathering more information I bumped it up to the $1000 all in.
If as some say we are all fools and will loose our money, I say, I will have had a great time on this forum and it will still be cheaper than any divorce.
The Elio will be built and we will all be happy, happy, happy.

 

[RogWild]

EVERYONE has a "place in line"! Lower levels just are not 'notified' since their place can change. I see your 'logic', but some people just won't put their money in a 'Savings Account'..... and will find it easier to just 'upgrade' to the next level...... when they have some 'spare cash'.

 

[dancescientist]

I asked that question on their Facebook page. I was particularly concerned that Elio would never close the reservation list, or close only when they had one year's of reservation at the 1K level. In that case, the people with lower reservations cannot even guarantee themselves a spot within the first 2-3 years of production. I did get a vague response that they will close when the "overall" target is reached.

 

[Jeff Miller]

EVERYONE has a "place in line"! Lower levels just are not 'notified' since their place can change. I see your 'logic', but some people just won't put their money in a 'Savings Account'..... and will find it easier to just 'upgrade' to the next level...... when they have some 'spare cash'.

Sure, at less than $1000 you are in line but anybody that comes in with a higher reservation or upgrades higher butts in front of you. My point was simply that if you are concerned about where you are in that line that I doubt that anything other than a full $1000 all in is meaningful. If you just want a guarantee of getting a first year vehicle you can do that with $100 all in and minimize your risk.

I do think that having the different levels is a good marketing mechanism for Elio to allow people different options. Some will choose to upgrade gradually and the benefit is that the bonus bucks would likely be more than any interest from stuffing cash in the bank. It also allows for minimizing risk as well as spreading the cost over time. It just comes at the price of not getting one of the very first vehicles (may or may not be a good/bad thing).

I asked that question on their Facebook page. I was particularly concerned that Elio would never close the reservation list, or close only when they had one year's of reservation at the 1K level. In that case, the people with lower reservations cannot even guarantee themselves a spot within the first 2-3 years of production. I did get a vague response that they will close when the "overall" target is reached.

My understanding is that reservations are taken until the first year's production is reserved (40,000). It doesn't matter if your reservation is $100 or $1000. There was some specific talk about getting notified when the first year's production numbers were getting fully reserved with the intent of allowing you to upgrade but I have yet to see anything that requires you to upgrade. I really believe that if you have a reservation that you will have an opportunity to buy the elio in the first year of production.