Will Your Elio Retain Its Resale Value?

[Craig]

I plan to drive it until my life dictates a larger or more practical vehicle. I expect it to hold its value very well like a motorcycle does. However a 6800 car will be worth about a third in 5 to 8 years. I'll have saved up enough by then to buy a new elio with the resale value on mine and the money I saved in gas hopefully

After you get the first one paid off, tiple bill yourself for gas till you have enough to get the second.

 

[KN16]

...snip... I expect it to hold its value very well like a motorcycle does....snip....

The motorcycles that hold their value well are used less and pampered. Some also carry an enthusiast premium. If you use your Elio like a cycle and not a car it will hold a little more value. If Elio survives and prospers subsequent years will see improvements. Which means even as they age they'll gather value slower than more desirable models. By the time first year models carry a premium most of us won't be here to see it as we're talking 50 years or more.

 

[Edward]

at 75K you'll need at least 3 tires & brake pads/rotors. The clutch will be weak as will the shocks, you'd likely need those within the next 25K. At this point you're still living with "chances are". If you add those parts & labor in you've moved closer to a new one. The 3 year warranty and peace of mind alone carries substantial value. Unless you're going to pack on the options you'll need to save way more than half price to make this work. That's why a 5 year old Elio won't be worth 3.5K.

I've never needed to replace a clutch or socks that soon. Closer to 150k miles.

 

[barry]

With 95% of the components right of the shelf and cheep, like one post said."how much could a new motor or trany for that matter cost?". They will never loose thier value, to the contrary they go up in value,even more so,if the model changes over time like conventional vehicles. But I'm more inclined to believe that the ELio will be a classic with few major style changes for decades like the vw bug.

 

[KN16]

With 95% of the components right of the shelf and cheep, like one post said."how much could a new motor or trany for that matter cost?". They will never loose thier value, to the contrary they go up in value,even more so,if the model changes over time like conventional vehicles. But I'm more inclined to believe that the ELio will be a classic with few major style changes for decades like the vw bug.

The "classic" VW is dirt cheep. The only way they have value is if they are in concourse condition. A used Elio won't sell at a premium if the new one can be had for less that the average new car. Any one who thinks other wise is kidding themselves. That doesn't mean there's not value there, but if you want something that will hold it's value invest in gold.

 

[KN16]

I've never needed to replace a clutch or socks that soon. Closer to 150k miles.

I don't want to break your heart but, your <$7K commuter is not going to be as robust as those other cars. Not to mention many people are going to drive them hard since there will be very little penalty at the gas pump. They don't say "if you're buying a used car you're buying someone else's problems" for nothing.

And me I change my socks every day, sometimes twice a day.

 

[Rickb]

I'm thinking Elio will come up with an innovative auto-recycling program.......return your used and worn out Elio to the Sales/recycle center they pay you a flat rate return fee and you drive off in your new Elio. I wonder if Elio will offer a Lease option?

 

[zelio]

I'm thinking Elio will come up with an innovative auto-recycling program.......return your used and worn out Elio to the Sales/recycle center they pay you a flat rate return fee and you drive off in your new Elio. I wonder if Elio will offer a Lease option?

Rickb, I like the way you think! LOL :-) Z

 

[jtmarten]

I'm thinking Elio will come up with an innovative auto-recycling program.......return your used and worn out Elio to the Sales/recycle center they pay you a flat rate return fee and you drive off in your new Elio. I wonder if Elio will offer a Lease option?

Recycled plastic, steel and aluminum don't have much scrap value unless you separate them first.

 

[Horn]

Well you guys sure are jumping the gun.

The resale value will drop quite a bit. Why? Because they will be in production. Why would someone give you $5k for your elio with several thousand miles when they can get a newer one for only a few grand more?

Now hypothetically the car is produced and stops after 1 or 2 years, (assuming it gets very high mpg and is reliable) the car will appreciate in value.

But this is like me worrying about what I am going to do with my millions that I highly doubt I will have.