Is Buying a New Vehicle Right for You?
Knowing the biggest determinant to vehicle use is vehicle ownership, Elio’s expected price of $6,800 puts owning a vehicle, and a new vehicle for that matter, within reach. The Elio is also touted as an “and” vehicle — purchase a larger vehicle for those times when you need the functionality, but use the Elio for solo commuter trips. For example, 76.3 percent of all commuters drive solo to work every morning according to the U.S. Census Bureau. So, why waste six or seven empty seats and more importantly, all that fuel? Many people will keep their bigger vehicles for errands on the weekends, or kid’s activities in the evening.
But what about those urban centres where a large percentage of folks don’t own a first vehicle? Including even those who originally considered leasing, renting or car-sharing as their main consideration set?
Elio vs. Leasing: The cheapest lease in Manhattan is the Fiat 500. It’s $2,000 down, $99 per month over two years. Over four years, you’d pay $6,752* to lease the Fiat which you would have to say “ciao” to at the end of the lease, vs. an expected price of $6,800 to own the Elio. The advantage goes to the Elio.
Elio vs. Renting: Let’s say you get two weeks of vacation per year and during that time you rent an economy car. The car rents for $600 per week in New York City. If you rent two weeks per year over five years, you’d pay $6,000 to drive 10 weeks total. Of course if you own an Elio you would have access to drive 365 days a year. Advantage Elio.
Elio vs. Car-Sharing: Let’s say you don’t take long road-trips and you’re more of the daily getaway type. Taking out a Zipcar for 14 day trips per year (at $109 per day), over five years, costs $7,630. It would be advantageous to purchase the Elio.
Elio Motors recognizes that transportation is the life-blood of any economy. Thankfully we are well on our way to providing a viable solution for all.