$7300 Final Price

[Ekh]

I'm locked in.

 

[Ekh]

I think the bloody DOE sucks for changing the rules of the game in the middle of the 7th inning.

 

[Ekh]

If you're all in already, nothing more is required as I understand the e-mail and you don't submit anything.

IMPORTANT -- ELIO NEEDS COMMITMENTS TO PURCHASE TO QUALIFY FOR THE ATVM LOAN. If you're non-refundable anyway, just make the commitment step -- it doesn't cost a nickel to do and it saves you $300 off the now certain base price of the car.

 

[Jim H]

Site is up now. You have to check a couple of boxes amending your original agreement, put in your name, email address, etc. And then your full name and hit "Submit". That's it.


EDIT: I now see that I've been beaten to the punch. But, I have an Elio reserved for a set price of $7,000!

Ditto, invested too much time in Elio to even begin to think about getting out. I'm here to the end.

 

[Ty]

If you're all in already, nothing more is required as I understand the e-mail and you don't submit anything.

... Actually, that isn't so. 2 parts.
1. Elio needs people to have commitments to purchase so they qualify for the ATMV loan.
2. To save an additional $300, you need to "commit". That will lower the price from $7,300 to $7,000 for the base Elio.

 

[NSTG8R]

$200 over the quoted price! I just knew this Elio thing was a complete SCAM!!
[NOT!]

 

[acamara]

$200 over the quoted price! I just knew this Elio thing was a complete SCAM!!
[NOT!]

I had to re-read that last post twice...then I saw the [NOT].

Agreed. $200 over the initial projected price is just fine. I am also Commited and Locked in.

The 25% Bonus most will get for going All In will offset the added price.

With the ATM and converted to Canadian dollars it will cost me around $10,400 CND before taxes of course. Still a great price for the Elio.

 

[DAVID BROWER]

I AM LOCKED IN BUT I WAS WONDERING ,
WITH MULTIPLE RESERVATIONS , DO YOU HAVE TO DO IT MORE THAN ONCE ?

 

[floydv]

So it looks like EM and the ATVM folks have been discussing EM's application. And EM seems to have gotten the impression that full binding commitments at $7000 will satisfy the requirement that the applicant demonstrate the ability to pay back the ATVM loan.

But 65,000 X $1500 (I think this was the projected profit per vehicle) = $97,500,000. The loan application was for $185M. So where is the remaining $87,500,000 coming from? I wonder if EM has some investors willing to co-sign on the loan and would be responsible for making up the gap?

 

[Ekh]

If you think about it for a moment, they set the $6800 target 5 years ago, when they had not much more than paper specs to work with. That they've gone over the target price by only 7.3% in a five year development program, that's a freakin' miracle!

We've been speculating $7600 (see the "waffling on base price" poll) -- and it's lower than most of us thought it would be. I say well done, Elio.