Locked-in Poll

[Ty]

I sent them a message last night. Told them I hearing about this new Lock-In DoE requirement and price adjusting.
If a person is All-In for any amount, You should be Locked-In automatically.
Hadn't received an email or snail mail.
Relax, they are putting out real computer fires (working OT) so they can produce accurate numbers for the AVTM loan for the DoE.
Give them a few days.

The lock-in commitment is different from being all-in. Being all-in means you won't get your $1,000 back if you decide at the last minute to not purchase. Being committed means that if you back out at the last minute, you still owe them $7,000. It's their legal way to assure the DoE that they have a bank of customers who will actually follow through.

 

[Ekh]

The lock-in commitment is different from being all-in. Being all-in means you won't get your $1,000 back if you decide at the last minute to not purchase. Being committed means that if you back out at the last minute, you still owe them $7,000. It's their legal way to assure the DoE that they have a bank of customers who will actually follow through.

Quite right. But to reassure the nervous, it's also true that you don't owe $7,000 unless Elio has a car to sell you that is substantially the same as what they've been offering.

 

[CompTrex]

Quite right. But to reassure the nervous, it's also true that you don't owe $7,000 unless Elio has a car to sell you that is substantially the same as what they've been offering.

That 'substantially the same' part is what has me a bit nervous. Not enough that I didn't lock in, but still a bit unnerving. It's kind of like a grab bag; pay $1 for a paper bag w/o knowing what's inside.

 

[Ekh]

That 'substantially the same' part is what has me a bit nervous. Not enough that I didn't lock in, but still a bit unnerving. It's kind of like a grab bag; pay $1 for a paper bag w/o knowing what's inside.

Well, here's the thing -- the point of the test and validation program is to identify and make needed changes for an all-around better product (better is defined as performance against the 4 must haves, and the 5th, not stated must have: profitability). So there WILL be some changes, not yet known to us. Most will be minor.

So I really don't think it's a $1 paper bag issue. If they make it at all, the Elio is going to be great little car, really thought through, and properly tested. That's why it took me roughly a millisecond to click the commitment link. I don't feel I'm actually risking anything more than the thousand bucks and a ton of energy on the Elio.

 

[CompTrex]

Well, here's the thing -- the point of the test and validation program is to identify and make needed changes for an all-around better product (better is defined as performance against the 4 must haves, and the 5th, not stated must have: profitability). So there WILL be some changes, not yet known to us. Most will be minor.

So I really don't think it's a $1 paper bag issue. If they make it at all, the elio is going to be great little car, really though through, and properly tested. That's why it took me roughly a millisecond to click the commitment link. I don't feel I'm actually risking anything more than the thousand bucks and a ton of energy on the Elio.

OK. Forget for a second that we trust Paul. Forget for a second that we all believe in this. Put on your troll-hat with me for a second.
If they cannot get the loan, and if they cannot get any more funding, they can either sell something for $7000 or go bankrupt. What's stopping them from going out and buying a $1000 moped, making a few modifications, then forcing us to buy it for $7000? I don't see anything in the 'contract' that says, you agree to give us $7000, and we agree to give you a vehicle that looks like this, and performs like this. None of that is spelled out on their end.
Ok. Now you may remove your hats.
GO ELIO!

 

[Ekh]

OK. Forget for a second that we trust Paul. Forget for a second that we all believe in this. Put on your troll-hat with me for a second.
If they cannot get the loan, and if they cannot get any more funding, they can either sell something for $7000 or go bankrupt. What's stopping them from going out and buying a $1000 moped, making a few modifications, then forcing us to buy it for $7000? I don't see anything in the 'contract' that says, you agree to give us $7000, and we agree to give you a vehicle that looks like this, and performs like this. None of that is spelled out on their end.
Ok. Now you may remove your hats.
GO ELIO!

What's to prevent them? LAW SUITS. big ones.
Troll(ing) hat:

 

[CompTrex]

What's to prevent them? LAW SUITS. big ones.

Based upon what wording?

 

[CompTrex]

What's to prevent them? LAW SUITS. big ones.

In addition, if they go bankrupt, there will be lawsuits as well from people wanting their non-refundable $1000 back, unfounded as that will be.

 

[Ty]

OK. Forget for a second that we trust Paul. Forget for a second that we all believe in this. Put on your troll-hat with me for a second.
If they cannot get the loan, and if they cannot get any more funding, they can either sell something for $7000 or go bankrupt. What's stopping them from going out and buying a $1000 moped, making a few modifications, then forcing us to buy it for $7000? I don't see anything in the 'contract' that says, you agree to give us $7000, and we agree to give you a vehicle that looks like this, and performs like this. None of that is spelled out on their end.
Ok. Now you may remove your hats.
GO ELIO!

You have a point there, sir. If you keep your hat on, maybe no one will notice it!
On the flip side... Say that in producing the first 8,000 vehicles, it becomes very obvious that there are problems... Let's say people are hating the constant squeaking, rattles, wind noise, and the arm rest that falls off... They send you the "your Elio is almost ready and it's time to make some decisions" email. Now, you have to either buy it for $7,000 or face possible consequences.

It is my guess that the Elio will be at least "good enough" to warrant the $7,000 price and that anyone who doesn't like it would have an easy enough time selling theirs at least before they are available for regular consumers. On the flip side, I would be willing to bet that Elio wouldn't mind some people NOT taking delivery of their vehicles so that they could start getting some of them out to stores so they can continue taking pre-orders right up until production catches up with demand... something I hope doesn't happen soon.

 

[Ekh]

In addition, if they go bankrupt, there will be lawsuits as well from people wanting their non-refundable $1000 back, unfounded as that will be.

Hey, enough already! I'm committed, I hope 65,000 other people are / will be committed, and that the program goes forward. I'll suck up my losses if I have to. Enough with the troll gear!