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What is the difference between a refundable and non-refundable reservation?

We offer both a refundable and a nonrefundable deposit.  For the nonrefundable deposit the terms and conditions were written to make sure that you know that your reservation is nonrefundable. We are aware of past issues where people have placed "refundable deposits" only to lose them outright. We chose to be very honest and transparent with you in that the reservation money you give to us is going to be used in the production of the Elio vehicle. We are offsetting your risk with the opportunity to be first in your neighborhood to own one of these exciting vehicles, a 25% increase in your reservation amount to be used at the time of purchase, and the chance to be an early part of an American company.

If you are not sure that you will be happy with the vehicle upon delivery- or if you just don’t feel comfortable putting down a reservation- we understand.

We do offer a second option- a refundable reservation.  While these reservations are refundable, these reservation holders will fall into place behind all other nonrefundable reservations.  Refundable reservation holders do not receive the additional discount offered by Elio Motors ($25 off for every $100 reservation, up to $250).  The person who has a $100 nonrefundable reservation will get their vehicle before the person with the refundable $1000 reservation.  Also, we are tracking our $1000 nonrefundable reservation holders by giving them a place in line.  Everyone else's numbers are subject to change therefore a number assignment is not possible.

Reservations: How do refundable reservations work?

Refundable reservations are for people who want a spot in line for an Elio with more security behind their reservation amount. These customers are willing to accept delivery of their vehicles AFTER all nonrefundable reservationist tiers ($1000, $500, $250, and $100) have been provided a vehicle.

Other differences:

1.     Refundable reservation holders do not receive an additional $25 off for every $100 they reserve (up to the one-time maximum of $250 per vehicle).

2.     NO refundable reservation holders will receive a place in line (like with the $1000 nonrefundable reservation holders).

3.     NO refundable reservationists get t-shirts.

4.     You CAN move to nonrefundable status at ANY time, but upon moving to the $1000 tier they cannot displace the existing reservationist spots for the existing $1000 nonrefundable reservation holders who already have a defined spot in line.  So, even if you put down a $1000 refundable reservation on May 15th, you cannot move ahead of the person who put down a nonrefundable reservation on July 7th  because their number in line is secured.  All moves to nonrefundable status will go to the bottom of each tier on the date the move is requested.  We suspect that these numbers will become competitive in the near future.

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