Commitment Details

[Florida Guy]

I was wondering how this commitment to buy is going to work. Some people are saying that we should just commit because they will not force us to follow through anyway. That seems to beg the question as to how the idea of being committed is going to be put into practice. How soon relative to taking delivery of our vehicle will we be expected to pay for it? Previously I thought we could come out and test drive an Elio once our place in line was called and then decide whether to buy one or not. I understand with a price of $7300 we can still do that. However, if we commit to purchase now (for $7000) will we be expected to pay for the car prior to getting to drive it? If so, how much prior to taking delivery will that be? Can we drive it before paying for it? Exactly how will this work? Any ideas or information?

 

[LillyMayPatterson #1685 & #5648]

Good Evening Florida Guy. The way I figure, I am already committed into this project. Way back in October two thousand and thirteen, I was laying in a hospital bed thinking I was going to die, checked my bank account with my cell phone and found out I got a big chunk of money, I was hoping for. I had been studying the elio for months by then so I went all in, put a deposit down on one. Then my husband started talking about his plans for 'our elio'. "Bull !!" I said so I put a deposit down for another one, just for him. I bought our daughter the third reservation, thinking heck for the price of one vehicle I can provide her one too. That made it three !! Yep, I'm committed, lol.
This committing thing is hopefully the last hoop required by the DoE, for Elio to qualify for the loan we all need to get this project moving as soon as possible. The DoE has been dicking this ATVM loan around for TWO years, this month. This is the only hoop thrown at elio that involves you and me. We have no idea what other hoops elio has had to deal with behind the scenes. But, I am sure there has been plenty.
Yes, we are promising (committing) to actually buy the vehicle if and when it comes available. Yes, elio could run around the country and sue anybody who doesn't follow though in small claims courts. But, from their past practices, I doubt that would happen. And nobody has more invested into this project than Paul and the elio team themselves, money and time). They want it as much as we do. I doubt we will have to pay before we actually take possession of it, although many people have expressed their willingness to do so. To some it is a small price for the American jobs, bla bla bla, and our stock investments and a chance to own a really cool vehicle. But, I am not that nuts.
When the time comes and I get that call, I hope my septic is still holding on and nobody is sick or dying, I will accept either the delivery or go pick them up (I don't know which). IF THEN, IF I don't like the dam thing I will sell it and make a profit of at the very least the thousand dollars I have deposited (pissed away) plus my bonuses. Well, that's my opinion. Sorry, so long, I can't sleep.

 

[Folks]

I was wondering how this commitment to buy is going to work. Some people are saying that we should just commit because they will not force us to follow through anyway. That seems to beg the question as to how the idea of being committed is going to be put into practice. How soon relative to taking delivery of our vehicle will we be expected to pay for it? Previously I thought we could come out and test drive an Elio once our place in line was called and then decide whether to buy one or not. I understand with a price of $7300 we can still do that. However, if we commit to purchase now (for $7000) will we be expected to pay for the car prior to getting to drive it? If so, how much prior to taking delivery will that be? Can we drive it before paying for it? Exactly how will this work? Any ideas or information?

You're way over thinking this thing. Do the deed and help Elio get this car on the road. We're making history here not just window shopping for a car. Geterdonedude!!!!!

 

[CrimsonEclipse]

The Elio is an idea as much as it is a car.

The idea is that we can have a simple, efficient, easy to work on, inexpensive vehicle without the chains of middle-men sucking us dry with planned obsolescence, difficult maintenance or $100 oil changes and $3000 A/C maintenance, dreadful and pushy salesmen manipulating numbers and raping us with loans and leases.

Chains and sodomy from Dealer to junkyard.

Every commitment, from the $1000 all in, to investing in stocks, contributing in this forum, and committing to pay $7000 without question is my push for a new way of buying a car.

So, I eventually get a new car.... yay.

If we succeed in disassembling the "Dealer System"?

A victory that no one else, no law makers, no politician could ever do.

This is more than just a car.

 

[BilgeRat]

Paying for this inexpensive vehicle is the least of my worries. When I got interested in this project, I started a money market account, and deposited my travel expense checks from work. The upshot is that there is now enough in this account that I can write a check at Shreveport when I take delivery. No worries, mate!

 

[Coss]

I was wondering how this commitment to buy is going to work. Some people are saying that we should just commit because they will not force us to follow through anyway. That seems to beg the question as to how the idea of being committed is going to be put into practice. How soon relative to taking delivery of our vehicle will we be expected to pay for it? Previously I thought we could come out and test drive an Elio once our place in line was called and then decide whether to buy one or not. I understand with a price of $7300 we can still do that. However, if we commit to purchase now (for $7000) will we be expected to pay for the car prior to getting to drive it? If so, how much prior to taking delivery will that be? Can we drive it before paying for it? Exactly how will this work? Any ideas or information?

Where did you get that you have to pre-pay in full before seeing or driving it? Nothing could be further from the truth.
It's so far off I don't know where to start.
No where in that commitment does it require you to pre-pay in full; you pay when you're ready to drive away in it.

 

[booboo]

Where did you get that you have to pre-pay in full before seeing or driving it? Nothing could be further from the truth.
It's so far off I don't know where to start.
No where in that commitment does it require you to pre-pay in full; you pay when you're ready to drive away in it.

I do not speak legalese, but I do copy and paste it.

Agreement to accept modification to standard terms and conditions

Paragraphs 2 and 6 of the standard terms and conditions are hereby modified to provide that I am agreeing to purchase a base model vehicle for $7,000 excluding destination/delivery charges, taxes, title, registration, options/installation and any other fees. While maintaining my present place in line for delivery, I understand that currently there is no definite date set for production or delivery of my vehicle.

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.

6. Purchase Price
Base vehicle and/or option pricing may not be available at the time of your reservation and, if pricing is available, it is subject to change until agreed upon in an executed Purchase Agreement.

 

[Coss]

I do not speak legalese, but I do copy and paste it.

Agreement to accept modification to standard terms and conditions

Paragraphs 2 and 6 of the standard terms and conditions are hereby modified to provide that I am agreeing to purchase a base model vehicle for $7,000 excluding destination/delivery charges, taxes, title, registration, options/installation and any other fees. While maintaining my present place in line for delivery, I understand that currently there is no definite date set for production or delivery of my vehicle.

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.

6. Purchase Price
Base vehicle and/or option pricing may not be available at the time of your reservation and, if pricing is available, it is subject to change until agreed upon in an executed Purchase Agreement.

What I can make out of that is that you agree with my statement; there is nothing that says you have to pre-pay in full.

 

[Florida Guy]

Where did you get that you have to pre-pay in full before seeing or driving it? Nothing could be further from the truth.
It's so far off I don't know where to start.
No where in that commitment does it require you to pre-pay in full; you pay when you're ready to drive away in it.

Ease up ok? I did not claim that the new agreement said we would have to pay prior to receiving our car. The truth is NOTHING IS SAID ABOUT WHEN FULL PAYMENT IS DUE. I would ask you where did YOU get the information that "you pay when you're ready to drive away in it"? I don't remember seeing that information anywhere now that they are asking for a binding commitment. This concept of a binding commitment is new and COULD BE followed up in the future with a requirement that payment be made or a loan contract signed some amount of time prior to getting the car. Why would they allow test drives before you paid for a car that you have already committed to buy? It would make perfect sense that you pay first then get to drive cars with the option you might be considering.

 

[Coss]

Ease up ok? I did not claim that the new agreement said we would have to pay prior to receiving our car. The truth is NOTHING IS SAID ABOUT WHEN FULL PAYMENT IS DUE. I would ask you where did YOU get the information that "you pay when you're ready to drive away in it"? I don't remember seeing that information anywhere now that they are asking for a binding commitment. This concept of a binding commitment is new and COULD BE followed up in the future with a requirement that payment be made or a loan contract signed some amount of time prior to getting the car. Why would they allow test drives before you paid for a car that you have already committed to buy? It would make perfect sense that you pay first then get to drive cars with the option you might be considering.

It was taken from your original comment " How soon relative to taking delivery of our vehicle will we be expected to pay for it? Previously I thought we could come out and test drive an Elio once our place in line was called and then decide whether to buy one or not...........I understand with a price of $7300 we can still do that. However, if we commit to purchase now (for $7000) will we be expected to pay for the car prior to getting to drive it?"

That's pretty much where I got it from; I read it as you stating twice asking about pre-paying before driving.
I wasn't trying to be harsh; sorry if you read it that way.
That was never my intension.