I Only Just Heard About The Elio A Week Ago...

[Lisa]

...and made my $250 reservation two days ago. Wish I could have sprung for the full grand, but at least I have a place in line.

I have a 52-mile round-trip commute, a 16 year-old Corolla with 320K that's about on its last legs, and with retirement looming in the next 6 years, a budget that won't stretch to accommodate the price of a new car and its accompanying insurance costs. The Elio is my dream car: It satisfies every need for a great price and the three-year warranty means peace of mind. When I described it to a friend over dinner the other night, she said, "Hell, you wouldn't even have to finance it; you could just put that on a credit card."

 

[Marshall]

...and made my $250 reservation two days ago. Wish I could have sprung for the full grand, but at least I have a place in line.

I have a 52-mile round-trip commute, a 16 year-old Corolla with 320K that's about on its last legs, and with retirement looming in the next 6 years, a budget that won't stretch to accommodate the price of a new car and its accompanying insurance costs. The Elio is my dream car: It satisfies every need for a great price and the three-year warranty means peace of mind. When I described it to a friend over dinner the other night, she said, "Hell, you wouldn't even have to finance it; you could just put that on a credit card."

I wouldn't take your friends financial advice. An auto or motorcycle loan would have a much lower interest rate than a credit card.

ps Good to have you aboard.

 

[Lisa]

Hi Marshall, thanks for the nice welcome! I think my friend meant that if you had trouble getting it financed, you could put it on a credit card as a last resort. I have excellent credit, but I'm intrigued by the idea of financing it via a gas card that would automatically charge 3x the gas price.

 

[wizard of ahs]

My plan is 1 payment

 

[HonestTex]

Welcome Lisa. There are many creative financial options to pay for your Elio. If you're considering the gas card, start now and every time you get gas put 2x your purchace price in a savings account. You may have it paid for before its even built.

 

[Lisa]

I've had auto loans through my credit union before. I'm wondering if they would finance this as a motorcycle or a car? They add a 2% premium for a motorcycle.

 

[wizard of ahs]

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To The ​

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[Marshall]

Hi Marshall, thanks for the nice welcome! I think my friend meant that if you had trouble getting it financed, you could put it on a credit card as a last resort. I have excellent credit, but I'm intrigued by the idea of financing it via a gas card that would automatically charge 3x the gas price.

If the gas prices stay relatively low, the 3xGAS will require supplemental payments to meet minimum loan requirements. That's one reason it hasn't been advertised lately. But it's a good model to have in the inventory if prices escalate again.

I've had auto loans through my credit union before. I'm wondering if they would finance this as a motorcycle or a car? They add a 2% premium for a motorcycle.

I'd love to see them split the difference, but I suspect they will treat it as a motorcycle, at least at first.

 

[Paul DeCrans]

I plan on paying for my Elio in one payment but the thought of using a credit card and then paying it off before any interest is accumulated for reward points is is very tempting

 

[floydv]

Welcome to the forum. I can't wait to see truckloads of Elios going down the freeway.