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Student Elio

Russell adjei

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Hey guys im very new to the forum and had a question. do you think the $100 refundable reservation is smart for a college student? i right now am driving a car thats giving me terrible trouble and im looking at the elio for my salvation. id jump from 20 to 84mpg and it would only double my gas bill. insurance is still questionable as many of you dont know either but right now im paying 100 which is wat im expecting from my elio aswell.

what im worried about most is when i will receive the car. things like shipping, maintenance and cost i can handle later but if it doesnt come in sometime this summer im screwed. so do you think i should resevere?

also does the amount of my reservation not go into my elio payments? if so then why is there a $1000 refundable option anyway
 

NSTG8R

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Hey guys im very new to the forum and had a question. do you think the $100 refundable reservation is smart for a college student? i right now am driving a car thats giving me terrible trouble and im looking at the elio for my salvation. id jump from 20 to 84mpg and it would only double my gas bill. insurance is still questionable as many of you dont know either but right now im paying 100 which is wat im expecting from my elio aswell.

what im worried about most is when i will receive the car. things like shipping, maintenance and cost i can handle later but if it doesnt come in sometime this summer im screwed. so do you think i should resevere?

also does the amount of my reservation not go into my elio payments? if so then why is there a $1000 refundable option anyway

Unfortunately, if everything goes smooth, the first production models won't hit the streets until Fall/Winter 2016. The $100 refundable would put you at the very end of the 50k or so reservations. Someone here did do some calculations, based on Elio's estimated monthly output [I'd have to search for the numbers], so it wouldn't be a long wait even if you didn't have a "reservation". I'd hang onto my $100 and hope my clunker can make it one more year....like a lot of people here are doing.;)

Either way. Welcome to the forum, and feel free to join in the conversations!
 
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Yes, Our deposits go towards the final bill. That is how all 'deposits' work. And since production isn't going to START till the end of the year, your summer plans are not going to work. Since there is still a chance this whole thing can fall apart, your not in a position to blow money I'll advise you not to play this game at all. BUT, Save your money, start a special savings account and make regular deposit in it as if your making payments. When the time comes to purchase your Elio you will have a nice deposit and proof of worthiness for a loan. You will need to borrow less money and you might get a better interest rate.The credit card deal IF it is available will be just that; a credit card with a $7,000.00 balance that will come with a hefty interest rate. IMO, a really dumb thing to get. So, is a loan for a vehicle, again IMO. SAVE as much as you can. First to buy yourself another junker for now, if this one dies. But, a special saving account is the best idea for many reasons. Anything worth getting is worth saving for. Your still part of this family, even without a deposit. So, Welcome to the family. We're making history.
 

Gas-Powered Awesome

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Russell, welcome to the forum.

I think gambling on the Elio would be a very poor decision for you. It is unlikely to go into production this year. It is unlikely to ever go into production. Even if it goes into production on-time it would be 2017 before a reservation made today would see delivery.

For those of us with dreams and disposable income and alternate transportation it makes sense to reserve an Elio.

For a struggling college student with limited funds it makes absolutely no sense at all.

The time you should put your money down on one is when you can walk into a local Elio store and buy one.

Right now you should learn how to fix your car. It's not hard and youtube has how-to videos for every problem imaginable. If you can't fix it you should buy a nice, reliable used crapbox like a Camry or Civic.
 

Maurtis

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Agreed, definitely save your money for repairs on your current car or if needed sooner, to put down on a different car. No way the Elio will be available by this summer, it is not even expected to. In general, only put down the money for one if you would not notice the money gone. If it has any impact on your life, just keep it and wait a couple more months to get your Elio after the reservations are filled.
 

Russell adjei

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Thank you for all the replies. I had the idea of production starting in mid 2016 and the release flipped around in my head. I really didn't want to pour money into a car that i was going to sell or junk in the next few months, but if the wait could be up to a year and a half ill just stick with it.
Also i don't think a lack of capital letters is just cause to question my educational background. Seeing as this is a forum I feel I, and the rest of you, should be judged by etiquette instead of spelling.;)
 

CompTrex

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Thank you for all the replies. I had the idea of production starting in mid 2016 and the release flipped around in my head. I really didn't want to pour money into a car that i was going to sell or junk in the next few months, but if the wait could be up to a year and a half ill just stick with it.
Also i don't think a lack of capital letters is just cause to question my educational background. Seeing as this is a forum I feel I, and the rest of you, should be judged by etiquette instead of spelling.;)
You're absolutely correct. My apologies. I should know better and hope you'll forgive me. :(
 
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