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$7300 Final Price

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I'm tickled pink. The DOE loan is MOVING along. I had given up hope and I'm happy to be proven wrong. Like two other posters here, I hit the agree button three times before scrolling up to see it went though. No they didn't ask for our reservation or order number. I am sure they will look it up and send confirmation. I figure as long as we used the same name on all our reservations, elio will find them. The 12 same people playing with the stocks woke up this morning after doing very little all week. They liked the news too. Now, to hit the NYSE MKT will be the next big deal. Reminded Folks, Our Next Elio OHIO Group Meeting will be next Saturday August 20th, at 2:00 in the afternoon, in Detroit Michigan. See ya there !
 

Ty

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BINDING agreement

How is Elio going to force purchasers to honor their binding agreements?

I get how some $1000 reservation holders have no problem with the binding agreement. They already took a leap of faith.

But some of us took a more conservative approach. (For example, I went all in with a nonrefundable deposit of $100 in July 2013.) I'm locked at the $7300. That's great; thank you Elio Motors! But an additional $300 discount might not be enough incentive to sign a $7000 binding agreement for us conservative types.

So I'll ask again, how is Elio going to force purchasers to honor their binding agreements? (I'm sure the ATVM Program would like to know too.)
It's only as binding as enforcement makes it. Sure, they could probably hire lawyers to try to force everyone to pay up but perhaps the AMTV loan committee is okay with taking a chance that MOST of the binding agreements will follow through. They are taking SOME chance, after all. On the other side, I wouldn't want to have to ever say that there is a pending legal action against me on the off chance that I ever want to buy another house or car or get another job where they ask about that kind of stuff. So, it'd be worth it to me to just pay rather than have that kind of judgment looming over me.
 

Sethodine

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BINDING agreement

How is Elio going to force purchasers to honor their binding agreements?

I get how some $1000 reservation holders have no problem with the binding agreement. They already took a leap of faith.

But some of us took a more conservative approach. (For example, I went all in with a nonrefundable deposit of $100 in July 2013.) I'm locked at the $7300. That's great; thank you Elio Motors! But an additional $300 discount might not be enough incentive to sign a $7000 binding agreement for us conservative types.

So I'll ask again, how is Elio going to force purchasers to honor their binding agreements? (I'm sure the ATVM Program would like to know too.)

My take on all of this...

Do you see how so many people are hesitant to sign this commitment, even though they have already put non-refundable money on the line? This proves why the DOE wants these commitments before they commit to giving Elio Motors a loan. If enough reservationists have faith in the company to sign this ambiguous "commitment" to purchase, then the DOE can feel confident to grant Elio Motors an ATVM loan authorization.

It is a measurement of our faith, really. Do you remember the Reg A+ campaign? $48 Million pledged, but only $17 Million actually paid money when the rubber hit the road. I think the DOE wants to avoid a similar result, and so is asking for an additional level of commitment. Seems fair to me.
 
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lol, Paul Elio talked about the RegA+ pledges with the SEC Small Business Committee. He KNEW that 12 people were bidding with no intentions of following though. I also guessed back then that the number was 12. I was watching it like a sick baby the whole time. I am tickled PINK !!! DOE is working on OUR APPLICATION. YAY BABY!!!
 

Ty

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Is the "lock in" $7000 price available to new all-in reservations of any level?

I definitely want to buy an Elio if they get to production and if putting down $100 with a commitment to purchase gets me $325 off of the purchase price, that sounds like a pretty great reward for a relatively small risk.
That would be correct!
 

Sethodine

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Is the "lock in" $7000 price available to new all-in reservations of any level?

I definitely want to buy an Elio if they get to production and if putting down $100 with a commitment to purchase gets me $325 off of the purchase price, that sounds like a pretty great reward for a relatively small risk.

Yes, it looks like that special Lock-In price will be available until they reach 65,000 total reservations. As of today the website says 56,411 reservations, so with about 8500 to go, at an average of 20/day, you have about 14 months to decide (425 days). Unless, of course, some new announcement boosts new reservations into overdrive.
 

skygazer6033

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Couple of years ago I dropped $1000 all in. I didn't make that commitment lightly. I decided right then I would stand behind EM until they either closed the doors or started production. As far as I'm concerned that was my commitment, my "binding agreement". So to sign a binding agreement for a locked in final price is no big deal if you're really "all in". Either you're 100% behind EM or you're not.
 
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