Why Buy Elio (don't Worry, I'm All In)

[johnsnownw]

It would be interesting to try to figure out the true cost of ownership including battery replacement, engine overhauls, tires, etc. etc. but how long do folks keep their vehicles these days? It would also be interesting to evaluate these vehicles if they were leased instead of purchased? Makes me wonder if Elio will offer a lease option?

I can tell you that, at least if you purchase a Tesla, the projected mileage until the battery has 70% capacity (what has been deemed the service capacity for a vehicle) it would be ~350k miles. These projections are coming in part from Prof. Jeff Dahn's research, as well as owner data.

Even when the battery has reached its final days in the vehicle, it will then be used for at least another decade in stationary storage. So, the battery won't be worthless at that point, you'll have some value left.

 

[Marshall]

I'm on a budget too. I have $35K + a $6800 Elio reserve fund burning a hole in my pocket (under $50K), a Tesla Supercharger down the street from my home providing a source of free electricity. Regarding clean electricity..........it seems somewhat 'cleaner' from sustainable sources of electricity along with the advantage of zero emissions from the EV's tailpipe ('cleaner'). Even though some see no value whatsoever in EV's, it's wise to have ATVM options to relieve the pressure on big 'dirty' oil reserves and help to keep gas prices lower for future ICElio owners. Technically, the development of ATVM's made it possible for EM to apply for the DoE ATVM Loan Program. It's nice to have choices when spending our hard earned money. I don't consider purchasing an EV as wasting money either, but rather an investment with guaranteed return. I'm so concerned about wasting money I wouldn't consider a risky non-refundable reservation deposit on any of the concept vehicles I have serious interest in.

Go for it. I'm thinking of some good old financial advice you wouldn't appreciate, so I'll leave it at that.

 

[Coss]

I thought this was an interesting video....using a Tesla to deliver mail on a 185 mile daily route at a cost of $3/day and his only maintenance cost is a periodic car wash.

What about tires and brakes? The occasional headlight or taillight bulbs?
Not enough to break the bank, but they do have cost.

 

[Rickb]

Go for it. I'm thinking of some good old financial advice you wouldn't appreciate, so I'll leave it at that.

I already have a good old finanacial advisor. I hope we all go for it! It being a concept vehicle that makes it to market that meets our individual needs and budgets.

 

[Rickb]

I can tell you that, at least if you purchase a Tesla, the projected mileage until the battery has 70% capacity (what has been deemed the service capacity for a vehicle) it would be ~350k miles. These projections are coming in part from Prof. Jeff Dahn's research, as well as owner data.

Even when the battery has reached its final days in the vehicle, it will then be used for at least another decade in stationary storage. So, the battery won't be worthless at that point, you'll have some value left.

Thanks for the information on battery life. The Tesla would no doubt last me a lifetime. The last new vehicle I purchased in '05 just turned over 50K miles. Heck the Elio would last me a lifetime too!

 

[johnsnownw]

Thanks for the information on battery life. The Tesla would no doubt last me a lifetime. The last new vehicle I purchased in '05 just turned over 50K miles. Heck the Elio would last me a lifetime too!

Not a problem. The last vehicle I sold was 5 years old, and I had only put 17k miles on it...so I would likewise have a good long run in a Tesla.

 

[Ty]

Another advantage to EVs..... their brakes last a lot longer as they typically use regenerative braking. It's possible the brakes can last the life of the car if driven correctly.

 

[Mike Badgle]

Hello from a long time lurker.

Just to point out a few things:

1. The cost of gasoline is highly variable.
2. The Elio's current base price is $7600
3. The current mpg of the Elio is mid 70s (computer analysis)
4. The base price of the M3 does not take into account the federal incentive, nor State incentives in popular markets.

That's the practical issues I noticed, serious feature differences aside.

The federal incentives are gone - they only apply to the first 200,000 vehicles delivered. So even if you made a reservation on the first day for Tesla 3, it is likely you missed out on that $10,000 incentive. States may still offer something. But the point is, you have to WANT and Tesla, it will never make economic sense.

 

[Mike Badgle]

You're just a little off with your figures;
It's not $7,600 it's still $6,800 MSRP base price.
The MPG figures are around 80

The Federal incentives are changing, as to the full information behind it, there are a number of EV people here on the board; you might want to talk to them.

Is it not also possible that some states may offer incentives for ultra high MPG gasoline powered vehicles as well? I don't know if any are in the works, but it seems somewhat viable to me.

 

[johnsnownw]

The federal incentives are gone - they only apply to the first 200,000 vehicles delivered. So even if you made a reservation on the first day for Tesla 3, it is likely you missed out on that $10,000 incentive. States may still offer something. But the point is, you have to WANT and Tesla, it will never make economic sense.

That's not entirely accurate. Once a manufacturer hits 200k (domestic) sales, the $7500 tax credit will continue for two more quarters. That's 6 months of unlimited full tax credit. Then it drops to $3500, and then $1750, and then it's gone. However, many States may still have incentives on the books after the federal credit runs out.