Not Ready To Pull The Trigger Just Yet...

[Johnny Acree]

another thing to think about is you don't have to put down a deposit at all. All the deposit does is get you a car sooner. Just wait till 2017.

 

[NSTG8R]

Spray bottles also have triggers. The term means making a decision that can have substantial consequences and cannot easily (if at all) be undone.

Personally, I don't see this as a gambling decision like so many others have. For those who have put in a reservation, did you really do it as a gamble never really expecting to see the money again? I see this as a financial investment and budgeting decision. Unless my reservation payment is going to accrue interest applied against the purchase price of the car, there is a better ROI on using those funds to pay down debt. Until a firm production date is set, it just isn't possible to calculate the ROI on buying a place in line.

Well, according to a ROI calculator. My "investment" of 1k in July '14, assuming a receipt of an Elio +$500 discount (all-in) in Oct. '15, would return a 50% ROI, and an annualized return of 38.2%.....I'm cool with that. Whoops what my 401K did last year.

 

[Alex P]

My wife said I could put down a $100 for the Elio. Hopefully it will be available late in 2015, if not, 2016 is really not that far away either. If by chance things go south and it is not manufactured, $100 loss while not good can be handled. I waited a lot longer for my Gold Wing and due to back problems had to sell it. Not everything in life can be had now, but the wait can make it that much more appreciated when what you want comes along.

 

[Edward]

Well, according to a ROI calculator. My "investment" of 1k in July '14, assuming a receipt of an Elio +$500 discount (all-in) in Oct. '15, would return a 50% ROI, and an annualized return of 38.2%.....I'm cool with that. Whoops what my 401K did last year.

Your assumption there is getting the car in 10 months. If someone said, put down $1000 now and you will get this car in 10 months or wait and get it in 2 years, I would put my money down.

But if production gets pushed back another year, 2 years... ROI gets reduced to the point where my limited funds can better be applied towards other goals.

another thing to think about is you don't have to put down a deposit at all. All the deposit does is get you a car sooner. Just wait till 2017.

I spend 5-10% of my gross on gas for my commute with a car of average fuel economy. The Elio would pay for itself in 4 years. I want the car sooner than later. I just have other objectives until I feel more confident that the car will be BUILT sooner than later

 

[NSTG8R]

Your assumption there is getting the car in 10 months. If someone said, put down $1000 now and you will get this car in 10 months or wait and get it in 2 years, I would put my money down.

But if production gets pushed back another year, 2 years... ROI gets reduced to the point where my limited funds can better be applied towards other goals.

I spend 5-10% of my gross on gas for my commute with a car of average fuel economy. The Elio would pay for itself in 4 years. I want the car sooner than later. I just have other objectives until I feel more confident that the car will be BUILT sooner than later

Not to nit pick, but it's based on 15 months, ergo, the 38.2% annualized return.
It's your money, do with it as you think best for your current situation. I do...and did.

 

[Edward]

Not to nit pick, but it's based on 15 months, ergo, the 38.2% annualized return.
It's your money, do with it as you think best for your current situation. I do...and did.

Sorry, I condensed my thinking while typing. I understood that your math was based on the time when you made your reservation to the time you expect your Elio to be built. I simply skipped to the next point that that date is 10 months from now.
Extra points for using my favorite word: ergo.

 

[RUCRAYZE]

My wife said I could put down a $100 for the Elio. Hopefully it will be available late in 2015, if not, 2016 is really not that far away either. If by chance things go south and it is not manufactured, $100 loss while not good can be handled. I waited a lot longer for my Gold Wing and due to back problems had to sell it. Not everything in life can be had now, but the wait can make it that much more appreciated when what you want comes along.

You can handle a Goldwing, -you can handle $100.

 

[Keith Stone]

Trying to be polite, I think it would be in your best interest to invest your energy in some other "adventure", free advise costs nothing, and for you should be worthless. You're on the wrong site, you should "invest" your energy in a support group to find a safe, low cost, no risk, no loss place for your money @ 1% FDIC it is insured by the feds

Also trying to be polite I disagree with your post. Edward has brought up some great points on this forum, just because he has not gone all in at 1000 dollars doesn't mean he should"invest" his energy In a support group. He is just trying to do what's best for his own situation. Can't say I blame him at all, he has said he is interested in elio and things I am interested in I like to research and read about sometimes reading thousands of reviews for months before buying(or pulling the trigger on +1) something.

 

[Keith Stone]

Life offers just two guarantees. One is you will pay some taxes. The other is that our time here is finite. Doing things you are comfortable with are one way of making yourself happy. At times pushing the envelope reminds you just how alive you are. In my life pulling a trigger has always fired a weapon. Seems a poor analogy for a financial decision.

Trying to be polite, I think it was a great analogy, one of my other favorites is "jumping the gun", out here in the Midwest gun references are meant to be harmless, hell I eat deer meat every year thanks to my good old fashioned muzzeloader! I believe 100% Edwards trigger reference was completely harmless and very relavent.
Just my $.02

 

[goofyone]

Choosing to make an Elio reservation is quite different from most things we buy as we are not just simply buying an item from a store after doing some research but instead taking a higher level of risk with our money than most purchases as nothing is guaranteed on this deal at all. Each of us has a different financial situation, different goals both personally and financially, and different opinions as to what level of risk we are willing to take in our lives and with our money.

Edward has already stated in that his interest in the Elio is not as a toy, or because he really likes the styling, but instead his interest revolves mainly around the promised low price and high fuel economy in a comfortable all weather package as he currently spends a lot of money on his commute. For him this is already mostly a business decision and at this time while he is interested he is not comfortable with the risk level just yet. As he has a new addition coming to his family this does also add to his family's cost of living and would likely cause him to be even more cautious about his financial situation than he may have already been and I really can't blame him at all.

Edward, Congratulations on the new addition to your family!