Happy Friday Elio’ers! This week in the blog we are going to share an interesting hidden benefit that came in from an Elio fan (and reservation holder) through our dedicated customer support email system. The person, who we will call Great Thought, or “GT” (we sent an email asking to use their real name but didn’t hear back) brought up the dreaded “T” word, taxes.
The taxes that “GT” was talking about specifically are new vehicle taxes. Have you thought about that yet? What does it mean to you to have a brand new vehicle that costs $6,800* versus a new vehicle that costs $15,000 or even the average new vehicle price of over $30,000? The short answer for many of us… a lot! Let’s look at it in real dollars using the US average of 5.75% tax on a new vehicle:
Vehicle Base Price Average US Tax rate Tax $
Elio $6,800 5.75% $391.00
Low Cost Vehicle $15,000 5.75% $862.50
Average US New Vehicle $30,000 5.75% $1,725.00
So on average the Elio will save you $471 in taxes over buying a $15,000 vehicle. That is real money. To put that into gallons of gas, that is 140+ gallons at today’s prices. 140+ gallons will get you over 11,780 highway miles. That is almost a years’ worth of gas!
When you look at it versus the average new vehicle in the US (over $30,000) you can save enough on taxes to pay for almost 2 years of gas for your Elio! This is a win win win! Lower price, lower taxes, unbeatable gas mileage… and much more!
There are a lot of factors that come into play when talking about new vehicle taxes an how things like trade-ins, cross county purchases, tax limits etc. work. Please take this information and localize it for your particular county/city/state situation. One truism for all (unless there is zero tax) you will save money with Elio on taxes versus an “economy” car and the average new vehicle today!
Thank so much for the email “GT”. Feel free to keep them coming!
The next week on the Preview Tour:
September 19 -21 – Los Angeles, CA – Westside Pavilion – 10800 West Pico Blvd. – 10am=9pm Friday, 10am -8pm Saturday – 11am to 6pm Sunday – P4 show
September 25 – 27 – Las Vegas, NV – Barrett Jackson Auto Auction – Mandalay Bay – P3 show
Thank you for your continued support!
* – Starting MSRP excludes options, destination/delivery charge, taxes, title and registration