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]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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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.
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.