MemberAugust 31, 2021 at 2:20 am
A thought came to me while pondering the fact it may be a year or more before I receive my Aptera. Why not make payments on my car during that time in order to limit the amount needed to finance when it’s ready?
They already have an account under my name and could set it up under the accounting department to track deposits. When my car is ready they tell me the balance and I apply or pay the remaining balance.
With enough people doing the same it could provide a steady cash stream and allow them a bit more flexibility in ramping production, ordering parts or whatever they need it for. It might also help offset the amount of fund raisers needed before production.
10,000 people sending just $100 a month is $1,000,000 a month.
What say you?
MemberAugust 31, 2021 at 4:48 am
Steven, I really appreciate your enthusiasm about Aptera…honestly and truly do…
However, do you know when you will get your vehicle? You’d be paying for the promise of something that hasn’t been made yet or before? Heck, it’s not even approved for use on the road yet.
Slow your roll brother. It’s coming, I have no doubt, but I doubt Aptera can ethically start taking payments for something that isn’t there yet.
MemberAugust 31, 2021 at 5:32 am
If you want to invest in the company invest in the company. It’s a highly speculative investment but there is the possibility of a high return and that’s money they can use fro development. Prepaying for a car that might never be delivered makes no sense. you have a bank account where you can save for a car.
MemberAugust 31, 2021 at 7:42 am
Steven, better approach might be to establish a separate savings account at you bank just for an Aptera. Make your payments into that account. You will draw interest (Admittedly not much) and you will mitigate any risk of Aptera going out of business without delivering you vehicle
MemberAugust 31, 2021 at 10:51 am
I have a TFSA set aside, where I throw in $500 a month. I’m hoping to have at least a $10K down payment by the time I get an offer for my delivery.
MemberAugust 31, 2021 at 11:07 am
I started a Fidelity investment account for my Aptera, investing in stocks
MemberAugust 31, 2021 at 4:50 pm
Wow, I must admit I wasn’t ready for the negativity in the replies.
Don’t get me wrong you all make great points and have tossed around some ideas I have either already started or thought of. (Invested and a separate account) Maybe I trust what I see and hear a bit too much and was just wanting to show that and do my fair share to help.
I know it sounds a bit naïve but darn it, I want his company to succeed and well maybe I jumped the gun too soon. I’ve seen companies come and go and think, “Man, if they would just have had a few more bucks they would have made it”
I’ve sent a request in to HQ. Let’s see what their reply is.
thanks for all the concern and educated replies folks.
MemberAugust 31, 2021 at 7:25 pm
I agree with you Steven and would like the option of being able to pay more for the deposit to show I am committed. Call it a down-payment if you would like. $500-$1000 would be a much more convincing showing then the $100 or free reservations that others have gotten.
Aptera can use it to better legitimize their 2022 or early 2023 IPO for 81* Billion dollars when they go public.
(*As we all know the Aptera is worth much more than Rivian. ????)
MemberAugust 31, 2021 at 7:41 pm
One of the unmentioned things here, is that by starting to take “prepayments” Aptera would put itself in a position where you are fully entitled to a refund of those funds, if the worst should happen and the project went south. They would already be on the hook for the $100 reservation fees, but those that have invested (Myself included, so don’t take this as a negative detractor throwing shade, I damn well want them to succeed and I want my Aptera.) have done so with the knowledge that if something happened, they did so full well knowing that their investment could be a total loss, with no recourse for refund. Prepayments would place a legal financial obligation on them, and that’s a headache they probably don’t want or need.
MemberOctober 2, 2021 at 6:22 am
Ozman: “If the worst should happen” That’s exactly what this idea helps prevent. (albeit… the benefit to Steven and others would be many fold. 1. Faster path to production 2. Faster development to New Models 3. More Production Compacity (hopefully leading to larger success via greater visibility and mass adoption)
Correct Charles this Idea could very well be used to justify a faster IPO and a Higher IPO….
Ozman: I get the $$$ money concern… but that particular concern should be easily mitigated… For example they could limit the spending of the new funds from “Advanced Payments” to 1/3rd of each quarter… PLUS…. they could seek an (quarterly updating) Insurance Policy to cover the Spent Advanced Payments that qualify to be spent in the first place.
Insurance coverage = ($100 x # of Reservation) + (Gross Quarterly Advanced Payments from most recent Full Quarter * ([lets say 0.33] <- almost the same thing one is set percent. and the other is the result -> Eligible funds from Gross Quarterly Most Recent Full Quarter) + (All previous and spent eligible Gross Quarterly Advanced Payments.)
PS: I and Steven would be very grateful if this becomes a reality…. (psst: owners and board…. A free battery pack upgrade or a sizable discount would be a great! reward…. for helping you unlock potentially 50+ Million) ????
MemberSeptember 30, 2021 at 8:40 am
I had the same thought as Steven shortly after I placed my reservation. My thought was, if I had an automatic deduction from my bank account each month, I would have a significant deposit in the year or two until my vehicle is ready. I figured I would be more likely to consistently make the payment and Aptera could set up escrow accounts for those of us who want to do this. Or more likely use a 3rd party to track, secure and maintain the accounts.
I have instead taken responsibility myself by setting up two accounts. I have a low interest zero risk account that get $200 a month deposited and I have a very high risk account that has $200 deposited each month.
Depending on how long until my order is ready and how the high risk investment account does, I will have $3,000 or possibly much more set aside for my down payment.
I know some readers are wondering. Yes, the high risk account is crypto-currency. It has been a crazy roller-coaster, but because I am holding the coins and not trading them the highs and lows seem to be canceling each other out. As I post this the cyrpto account is valued $47 more than the savings account. A few weeks ago it was $300 ahead and when China outlawed cyrpto (again) the value dropped to $100 less than the savings account.
I am not advising anyone to invest in anything. But saving up for what we want is never a bad idea.
MemberOctober 2, 2021 at 5:50 am
I’d be willing. for sure willing.
MemberOctober 2, 2021 at 11:01 am
Instead of some small savings account, how about just investing in Aptera stock? IMO the return should be substantially better and accomplish the goal of supporting this company.
MemberOctober 3, 2021 at 6:21 am
Prepay to Aptera? Oh hell no! Remember Elio. I prepay into my own investment account and it already has enough to cover the 600mi basic version, as I continue it will cover available options and the 1000mi version. On the + side for this, my investment account intended for the Aptera has already accumulated $6k in stock market improvements and dividends, in addition to what I’ve been saving up for the Aptera. (the account started when I was saving for the Elio after doing the $1,000 non-refundable deposit)