The Options, They Are On Their Way

[Sethodine]

Someone was griping about mileage? I drive almost 50,000 miles a year between commuting and delivering pizza

I dont think it was a gripe per-se, just surprise. I think most people want their car paid off before 100k. (Especially one as cheap as the Elio)

 

[Rickb]

Yeah, I think the point is that paying 2 times your gas cost (at gas prices today) for a month isn't enough to be a loan payment on the Elio. I know that's the way it was initially stated by EM, and perhaps at $4 or $4.50 gallon back then, it might get close.

But in the press conference Paul was basically saying, even a lease payment might be a stretch to be covered by 2 times your monthly gas money for the Elio. A lease payment is less than a loan payment.

Then he also said that we're still 12 months out so something might be able to be worked out. I don't think he meant it literally that in late March 2017 production would start. I think he meant that gas prices most likely will go up, and the possibility of the "gas credit card" would be more feasible.

In fact, there are many things that he says in press conferences, that we shouldn't get "wrapped around the axle" about the specific wording. Just my 1.8 cents.

Had one put the money saved when gas prices went from $4-4.50 to the current under $2 into a hello Elio savings account.........they would have one heck of a nice down payment by the time the Elio is production ready in a year or 2. My Math: $2.50/gal X 20 gallon fill per week = $50 weekly savings, $200 monthly savings, and $2400 yearly savings.

 

[W. WIllie]

So...What vehicle are you driving?

 

[Rickb]

So...What vehicle are you driving?

A vehicle with a 15 gallon gas tank that costs less than half to fill than when gas was $4.50/gal..

 

[Coss]

A vehicle with a 15 gallon gas tank that costs less than half to fill than when gas was $4.50/gal..

Good answer

 

[W. WIllie]

Sorry my fingers weren't quick enough. I meant the prior statement be directed to the "Pizza Driver."

 

[Ian442]

I dont think it was a gripe per-se, just surprise. I think most people want their car paid off before 100k. (Especially one as cheap as the Elio)

Gotcha.

My Sunfire is up to 265,000 miles now

 

[RUCRAYZE]

Actually Paul did mention it in his press conference the other day. He said it was more like your gas payments can pay for your lease. Didn't explain it at all but that's what he said

Lease? I must have missed it, wasn't the plan to purchase?
It'll be very interesting to see the APR for a loan on our E (leased or purchased)
It'll be very interesting what financial institution(s) will want to finance such small long term loans. I don't see "Elio Bank" holding notes.
Why not a lower interest (10%?) on a special credit card, allowing the purchaser to pay it off at their pace, i.e.currently you only have to make a minimum payment to keep good credit, add extra $, lower your interest payments for the length of the loan.
Or as my pop taught me, don't buy anything you can't pay for- was very good advice until her lawyer told me different.