By on August 24, 2013

Elio Motors is one of those automotive startups that raises all sorts of flags that makes some people think that it’s a scam, or at least on shaky financial ground. Almost every bit of news from Elio has been greeted with some skepticism, understandably (here, here, and here). They’re planning on selling a three wheel vehicle with a composite body that gets amazing gas mileage. Those facts alone remind people of the Dale scam, and the failed Aptera venture. Also, they’re taking deposits on a vehicle whose design has not been finalized, a year away from production, and that evokes memories of Preston Tucker, who had his own problems. Then there’s the financing plan that Elio says will allow people currently driving beaters, the working poor if you will, to get a new car with a warranty just for what they’re currently paying for gasoline. When you buy the $6,800 tandem two seater reverse trike, whatever balance there is after your trade-in and/or deposit is applied will go on a credit card. Monthly payments will be required to pay down the balance but the way Elio is pitching it, when you use that credit card to buy gasoline (and some other purchases) instead of being billed for the actual cost of the gas, you’ll be billed 3 times that amount and the difference between the actual price and the billed price will be used to pay off the car.

Why 3X the price of gas? (Read More…)

Recent Comments

  • legacygt: Not at all the point of the article but I’m happy to see you mention the Juke and Countryman...
  • arach: I choose option 3: Take the new engine AND Send results of your oil test to Hyundai and say you appreciate the...
  • sirwired: Firstly, these “lightly educated activists” are just riffing on Mitt Romney’s claim that...
  • NormSV650: You can only market so much against a trend of rising CUV sales and expect to win. Remember too that the...
  • hpycamper: This is what I was thinking too. I was thinking an oil scan looks at very small particles of metal, which...

New Car Research

Get a Free Dealer Quote

Staff