Enthusiastic But... Fine Print

[Jerry Greif]

I was on the website looking at making my "all in" reservation & read the fine print. The money is an investment in the company. The fine print says it doesn't guarantee a car or a price. I guess one has to be a bit of a speculator on this. I am less concerned that the car will be produced but what my final purchase price will be.
From the reservation agreement:
"2. Nature of Agreement; Non-Binding Reservation Payment
The Reservation Payment is NON-REFUNDABLE and provides you with the benefits in Section 4 below depending on the level of your payment. This Agreement does not constitute an agreement for the sale of a vehicle and does not lock in pricing, a production slot, or an estimated delivery date. You are under no obligation to purchase a vehicle from us, and we are under no obligation to supply you with a vehicle. If and when we notify you of the availability of the vehicle and you wish to proceed with the purchase, such sale and purchase will be governed by a separate and legally binding Purchase Agreement between you and us or between you and another authorized dealer (Elio). In the event a purchase is made, your Reservation Payment plus a bonus equal to 50% of the payment will be credited against the purchase price."

You are right, the fine print didn't guarantee a lot but we are willing to give them a chance using our money. If you think this fine print is bad look at the odds on the lottery ticket, we have much better odds of winning with Elio.

 

[RBuck]

For the guy (aka H town Jeff) that called me a naysayer...

Hello, RBuck
Thank you for reserving your Elio! You can check the status of your reservation by logging into your account.

Your order confirmation is below. Thank you again for your business.

Your Order #10000xxxx (placed on March 3, 2014 10:43:59 PM EST)

 

[Zipper]

H town Jeff, I really like the graphic in your signature.

 

[LillyMayPatterson #1685 & #5648]

MATH IS HARD! But, any how, our money is tiny compared with the 47 million dollars Elio reported raised from State and Local. Our money down is jut to show the deep pockets our interest. Well, WE ARE INTERESTED AND SHORT POCKET INVESTED.

 

[zelio]

I was on the website looking at making my "all in" reservation & read the fine print. The money is an investment in the company. The fine print says it doesn't guarantee a car or a price. I guess one has to be a bit of a speculator on this. I am less concerned that the car will be produced but what my final purchase price will be.
From the reservation agreement:
"2. Nature of Agreement; Non-Binding Reservation Payment
The Reservation Payment is NON-REFUNDABLE and provides you with the benefits in Section 4 below depending on the level of your payment. This Agreement does not constitute an agreement for the sale of a vehicle and does not lock in pricing, a production slot, or an estimated delivery date. You are under no obligation to purchase a vehicle from us, and we are under no obligation to supply you with a vehicle. If and when we notify you of the availability of the vehicle and you wish to proceed with the purchase, such sale and purchase will be governed by a separate and legally binding Purchase Agreement between you and us or between you and another authorized dealer (Elio). In the event a purchase is made, your Reservation Payment plus a bonus equal to 50% of the payment will be credited against the purchase price."

This reminds of the statement the doctor had me sign before surgery acknowledging I could die during the procedure. It is a CYA statement. They want to make sure you understand that if the car isn't built you do not get your money back. I knew that before I read the legal statement that made it sound like I must be very stupid to agree to this. LOL

 

[zelio]

Just found a mention in a Consumer Reports article: http://upi.com/2848427

Thank you for that. It is a great article. In my search for all things Elio I also found an article by searching for Elio on CarTalk. It was written in January and I found it very encouraging. Z

 

[zelio]

Dang, you must be using a US government calculator o_O...11,000 reservations x $1,000 = $11 million

Not everyone is in at $1,000. Some of us reserved at one of the lower All In levels. :-)

 

[zelio]

If you really want this concept to become a reality why not put up the measly $1k non-refundable reservation? At least you will get a documented number in line. $100 gets you placed in the back of the line.

View attachment 211

Ouch! That hurts someone who is low income and could only go in at "$100 All in" which actually places us at level 4 not at the back of the line or level 8. :-)

 

[raybonz]

If Elio had the funding and were serious don't you think they would be working on the factory right now? From all I see the all in money is being used to live on.. Like I mentioned before what source of income does Paul Elio and his staff have coming in other than all in money? If I could take my $100.00 back I would right away.. Hoping I can change my tune in the future..

Ray

 

[WAYNE]

If Elio had the funding and were serious don't you think they would be working on the factory right now? From all I see the all in money is being used to live on.. Like I mentioned before what source of income does Paul Elio and his staff have coming in other than all in money? If I could take my $100.00 back I would right away.. Hoping I can change my tune in the future..

Ray

Just hang in there Ray. The gamble might pay off big.