What Would Elio Do? Wwed

[jdkeats]

Since they can't legally limit the transfer to only the "surviving spouse" , I'm sure there will have to be accommodations and exceptions .I think the intent might have been the ability to put down small money on many cars, and when it happens "sell /resell the options"

That would imply that you could "sell" your deposit.

 

[goofyone]

Since they can't legally limit the transfer to only the "surviving spouse" , I'm sure there will have to be accommodations and exceptions .I think the intent might have been the ability to put down small money on many cars, and when it happens "sell /resell the options"

When we made the reservation we agreed to the contract which says this:

7. Deferral and Non-Transferability

If you do not wish to enter into a Purchase Agreement at the time you are contacted by Elio, you have
the option to relinquish your reservation sequence position and defer to a later position to be
determined by us (only one deferral is permitted). If you do not communicate your decision to us within
ten (10) days of notification, you will automatically be granted such a deferral. This Agreement is not
transferable or assignable to another party without the prior written approval of an Elio authorized
representative.

There is no ambiguity in that statement at all so any transfers, even to surviving spouses, are entirely up to Elio Motors. This is perfectly legal for them to put in a contract and they can enforce it anyway they please.

The fact of the matter is that they will likely not be as strict as they could be with this agreement in the event of the death of a reservation holders however this was written by lawyers who knew exactly what they were doing and drew this agreement in such a way to give Elio Motors maximum leverage. The agreement even flat out says EM does not promise anything, not even a vehicle.

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.

http://www.eliomotors.com/wp-content/uploads/2014/08/Non-RefundableRESERVATION-AGREEMENT.pdf

 

[RUCRAYZE]

That would imply that you could "sell" your deposit.

That would imply that you could "sell" your deposit.

What I was trying to say is to try and prevent selling your deposit is why the restrictions are in place
Of course, the work-around is actually to buy (no liens) the car(s), have them delivered with as close to "0" miles, and then resell it.
No need to register it in the home state. The risk of course is owning a vehicle that you did not plan on keeping.!!!

With g1 posting what we actually contracted to do, it does clarify any transfer/sale of deposit- thanks for the reality check.

 

[Jambe]

Elio Moors has claimed that it would make a nice gift. If you tell them it is a gift I think they would let the "gifted one" be able to have it sold in that person's name.