Elio Buyer Financing Options Discussion

[3 Card]

I DID say it was my opinion, right or wrong. I also know that before a vendor will tool up to produce a part, they have to know they will profit from it. A vendor would probably be quite leary if Elio had only managed to get 10 people to plop down $100 or more on a pre-order. The fact that there are 14,000+ people (and thus 14,000 fenders, hoods, engines, etc) makes it more likely that vendors will be willing to tool up. My undergraduate was in Industrial Engineering and my Masters was in Logistics. I don't have a financial degree or any experience in that field. I did actually work as an industrial engineer at the very plant that Elio is setting up at as well as Johnson Controls where my job was to balance the line and make sure JC could deliver 52 sets of truck seats an hour. I defer financial expertise to you, 3 Card.

Sorry guy , just one of those days that hearing negative stuff didn't go well.. think positive and we'll all be driving something that many others have tried but failed

 

[Kuda]

I did actually work as an industrial engineer at the very plant that Elio is setting up at as well as Johnson Controls where my job was to balance the line and make sure JC could deliver 52 sets of truck seats an hour. I defer financial expertise to you, 3 Card.[/quote]


Did you know Paul when he was @ Johnson Controls? http://www.linkedin.com/pub/paul-elio/5/599/b42

 

[Ty]

I did actually work as an industrial engineer at the very plant that Elio is setting up at as well as Johnson Controls where my job was to balance the line and make sure JC could deliver 52 sets of truck seats an hour. I defer financial expertise to you, 3 Card.

Did you know Paul when he was @ Johnson Controls? http://www.linkedin.com/pub/paul-elio/5/599/b42 [/quote]
I did not. I was there for 6 months with a team of engineers straight out of college.

 

[3 Card]

I am with you as far as ownership goes. I'm getting it because I want it rather than because I need it. I will also being paid cash for it. There is about 6000 in my Elio fund right now, so I figure I am in good shape. Also figure I will need about $8500 to get it out the door. I suspect you and I are near an age. Mine is posted on my profile.

Read this reply to me from Elio....................................................................................................................

Brendan Carey (Elio Motors)
Apr 14 18:17
Monty Emery,
We can appreciate your concern and until our credit card/ gas card program is finalize, we are not marketing this program on our website. I understand this program has been mentioned in articles and interviews, but until it is finalized we can not offer it. With any such program, an individual will be required to register and qualify for the program.
As for the reservations, we are offering a refundable reservation to everyone, as well as a non-refundable option. So if the person making the reservation determines that they can not afford a non-refundable reservation, they will be still be able to place a refundable reservation that would still entitle them to reservation for our vehicle within the first year of production. We have clearly stated in the reservation documentation that this is a risk and does not guarantee an individual a vehicle.
Best Regards,
The Elio Team

 

[Ty]

Thanks, since I am insured by them you have saved me the effort and I look forward to their response

USAA responded about the Elio via email but basically said to call them. I talked to the finance department and we walked through the Elio question. They have not researched the vehicle enough to make a determination how it will be handled within the loan department. The 48 month loan difference between (great credit score) motorcycle and car is not very much. $159.67/month as a motorcycle or $147.50/month as a car. $12.17 is the difference. The guy I talked to said that unless there were more calls about the Elio, they would probably wait till the vehicle is being produced to make policy.

 

[zelio]

USAA responded about the Elio via email but basically said to call them. I talked to the finance department and we walked through the Elio question. They have not researched the vehicle enough to make a determination how it will be handled within the loan department. The 48 month loan difference between (great credit score) motorcycle and car is not very much. $159.67/month as a motorcycle or $147.50/month as a car. $12.17 is the difference. The guy I talked to said that unless there were more calls about the Elio, they would probably wait till the vehicle is being produced to make policy.

That seems like a very short sighted decision to make. The whole purpose of contacting them now is to give them a heads up so they can be prepared. Groan - I had better shut up before I say something nasty about that kind of thinking. LOL :-) Z

 

[Joshua Caldwell]

That seems like a very short sighted decision to make. The whole purpose of contacting them now is to give them a heads up so they can be prepared. Groan - I had better shut up before I say something nasty about that kind of thinking. LOL Z

True, but until it is actually produced and tested they don't know how safe it actually is and how expensive it is to repair.

 

[zelio]

True, but until it is actually produced and tested they don't know how safe it actually is and how expensive it is to repair.

That makes sense as far as the insurance department. But the loan department? They can at least be thinking about how they want to handle an autocycle as opposed to a car/motorcycle/ATV. There is enough information on Elio Motors website to allow them to consider whether they are willing to think outside the box. Do you really want them doing that after you buy your Elio? Or if the people you talked to aren't high enough on the chain of command, they could at least present the information to someone who is and let them make the decisions. That is what I would do but then I am a doer rather than being willing to sit around and wait to see what happens. Even if by some weird reason Elio does not happen - this is the closest anyone has been to doing it so it will happen some time. Just my not at all humble opinion. :-) Z

 

[Jim H]

USAA responded about the Elio via email but basically said to call them. I talked to the finance department and we walked through the Elio question. They have not researched the vehicle enough to make a determination how it will be handled within the loan department. The 48 month loan difference between (great credit score) motorcycle and car is not very much. $159.67/month as a motorcycle or $147.50/month as a car. $12.17 is the difference. The guy I talked to said that unless there were more calls about the Elio, they would probably wait till the vehicle is being produced to make policy.

I have been a USAA member for more than 35 years and will contact them as well and make an inquiry about the Elio. Let's keep the pressure on business to take the Elio seriously.

 

[zelio]

I have been a USAA member for more than 35 years and will contact them as well and make an inquiry about the Elio. Let's keep the pressure on business to take the Elio seriously.

Great idea. I have already printed out the posters offered here. Now I want to go to the Elio Motors website and recreate the Spec pages. From now on when I go to a credit union, bank, insurance agency or any other potential entity - including the DMV, I will be loaded with as much information as possible. It will be in a format they can copy and then they can go to Elio Motors and do their own research from there. :-) Z