Elio 3-Wheel Car Priced at $7,300, But There’s a Catch

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Elio 3-Wheel Car Priced at $7,300, But There’s a Catch

Elio motors might be offering the most affordable car in the U.S.

Edit: Elio Motors spokesperson Alexandra DeVilling has reached out to AutoGuide.com to clarify Elio Motors’ pricing strategy. If buyers agree to purchasing the car, they will save $300 and will have to make a binding commitment to make a vehicle purchase. But they will not have to put $7,000 down, but rather that is the price paid at delivery. If a car does not get delivered, then buyers do not have to pay $7,000. It’s worth noting that the term “non-refundable” is still being used on Elio Motors’ own website.

The company has announced official pricing for its three-wheeled vehicle, running a cool $7,300. The announcement was made in an email sent by company founder Paul Elio, which also said that the company has gone public and has planned out the option ordering system for the car. If you are willing to pay for the car in its entirety, it will cost just $7,000 instead of $7,300. But there’s a catch.

Elio hasn’t delivered a single car yet to a customer, and it needs loans to start production. The U.S. Department of Energy (DoE) is willing to offer the company support if they meet certain guidelines. You see, Elio currently has 56,000 reservations, but the DoE isn’t content with refundable customer reservations.

SEE ALSO: Elio P4 Review

So the catch is, you can pay $7,000 outright to purchase an Elio three-wheeled car, but that payment is non-refundable. You also run the risk that the company will go bankrupt before you even get the car, rendering your $7,000 a complete waste. To make matters more complicated, the company doesn’t have a production start date or delivery date set, which means even if the car makes it into production, it could be years before you even see it.

[Source: Jalopnik]

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  • SnipeD

    You get the $7000 price with a $100 commitment. So you would lose $100 not $7000.

  • Jonny_Vancouver

    No production start date, no delivery date, and it’s nothing special. I mean, it still uses fossil fuels, and it’s made by a company that is unproven and requires loans before it can even start production. Doesn’t exactly inspire confidence …

    Besides all that, it’s kinda fugly. I mean, even omitting the front wheel wells (coverings?) would have made the thing more aesthetically pleasing, not to mention what’s going on in the rear. Nothing new or innovative either, count me out!

  • aviationfinance

    Great Concept for Cheap Transportation. Air-Conditioned Comfort, Out of the Wind and Rain. Perfect for a really Cheap way to get around at 80+ miles per gallon ! I can’t wait til I get mine ! 🙂

  • No rear window? No rear view mirror, just two small side view mirrors. So, how are you going to know about traffic right behind you? ESP? Looks like a freeway death trap to me.

  • rektumhelitkilthim

    The reason they can’t produce cars is because nobody can build and sell them for $7,000.00! A more suitable and profitable price would be double or more, considering motorcycles cost that. This guy Elio had a real big dream and a small mind.

  • Shanedoo

    The price was less than 7K. Doesn’t matter though. This is not a car it’s a trike and will NEVER hit the market. Paul Elio is a pipe dreamer.

    He may end up like Preston Tucker for ripping off people.

  • Shanedoo

    Don’t hold your breath!

  • aviationfinance

    Yeah, I know…..
    If gas was still $5 a gallon…..

  • InYoFace

    ok bye!