The Options, They Are On Their Way

[Marshall]

What I no longer hear tossed about, was the "special Elio financing plan", buy your gas w/EM card and 2x the cost of gas will be applied to purchase price of your E. Never understood when gas was closing in on $4.00+/gal how it would ever be paid off, and with gas @2..+/- even seems more farfetched.
Is the star safety rating still a consideration?

It can still work, but the minimum monthly payment (always part of the discussion) would be more likely to be invoked.

Say your Elio cost $7200 and is warranted for three years. You simply need $200 per month to pay it off in three years (excluding interest and taxes). If your gas bill per month is $100 for 50 Gallons (@$2/gal.) or more, then you use it for the base repayment. Anything less is like a traditional loan with $200 payments.

At $4/gal., the price point from straight repayment to 2x gas payment was at about 25 gal.

 

[Jeff Miller]

It can still work, but the minimum monthly payment (always part of the discussion) would be more likely to be invoked.

Say your Elio cost $7200 and is warranted for three years. You simply need $200 per month to pay it off in three years (excluding interest and taxes). If your gas bill per month is $100 for 50 Gallons (@$2/gal.) or more, then you use it for the base repayment. Anything less is like a traditional loan with $200 payments.

At $4/gal., the price point from straight repayment to 2x gas payment was at about 25 gal.

YIKES! 50 gallons is over 34000 miles a year - you would be approaching 100,000 when you paid off you elio

 

[Marshall]

YIKES! 50 gallons is over 34000 miles a year - you would be approaching 100,000 when you paid off you elio

Yep. It's probably why it's not talked about any more.

 

[Ekh]

Yep. It's probably why it's not talked about any more.

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

 

[bunchathrees]

YIKES! 50 gallons is over 34000 miles a year - you would be approaching 100,000 when you paid off you elio

Even should someone elect to pay for their car in this manner, that doesn't preclude them from sending in additional monies on occasion. This is a novel additional way to pay for the vehicle, not indentured servitude.

 

[Jeff Porter]

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.

 

[Jag39]

I'm thinking of the motorcycle fenders simply because the clearance on the pods looks like they could be easily damaged. Possibly they could be raised a bit, though. Also, I live down a mile of horrendous dirt road. BTW I couldn't get the configurator to work. Is it just a slide show, and not operational?

 

[Mel]

I'm thinking of the motorcycle fenders simply because the clearance on the pods looks like they could be easily damaged. Possibly they could be raised a bit, though. Also, I live down a mile of horrendous dirt road. BTW I couldn't get the configurator to work. Is it just a slide show, and not operational?

It is not yet operational. At this point, it's just a slide show.

 

[Coss]

I'm thinking of the motorcycle fenders simply because the clearance on the pods looks like they could be easily damaged. Possibly they could be raised a bit, though. Also, I live down a mile of horrendous dirt road. BTW I couldn't get the configurator to work. Is it just a slide show, and not operational?

Elio Motors has said that they are sending out a mailing in about a month so that they can get feedback on demand for the optional add-ons; it will probably work then. So around the end of April, beginning of May; until then expect the current configurator to remain in place as a slideshow.

 

[Ian442]

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