Create a reservation/down payment account

[Mackcoper26]

A reservation/down payment account (RDPA)?? An account that we can sporadically add money to and increase our reservation/down payment amount. Before manufacturing begins, reducing the amount that has to be financed, It shouldn’t be to hard to set up since we have already made reservations. Think of it as a savings plan for your buyers.

 

[J Alynn]

A reservation/down payment account (RDPA)?? An account that we can sporadically add money to and increase our reservation/down payment amount. Before manufacturing begins, reducing the amount that has to be financed, It shouldn’t be to hard to set up since we have already made reservations. Think of it as a savings plan for your buyers.

Great idea but why not just do that in your own bank account. Scout is a car company-not a financial institution-even though they will finance it will be a separate entity. Also, what happens if Scout folds in 1-1/2 years-will you get that money back?

 

[Mackcoper26]

Great idea but why not just do that in your own bank account. Scout is a car company-not a financial institution-even though they will finance it will be a separate entity. Also, what happens if Scout folds in 1-1/2 years-will you get that money back?

They could use it as working capital for all I care honestly. Then when production starts you can apply it the balance. Or should they become a publicly traded stock give those of us with a balance the option to buy in.

 

[J Alynn]

They could use it as working capital for all I care honestly. Then when production starts you can apply it the balance. Or should they become a publicly traded stock give those of us with a balance the option to buy in.

Stock option is an interesting idea-I like that idea

 

[RebelliousPeasant]

A reservation/down payment account (RDPA)?? An account that we can sporadically add money to and increase our reservation/down payment amount. Before manufacturing begins, reducing the amount that has to be financed, It shouldn’t be to hard to set up since we have already made reservations. Think of it as a savings plan for your buyers.

So a savings account?

You can already do that on your own. I'd recommend going with a high-yield savings account, that's what I've already set up. Label it how you want (I called mine "Scout Fund!") put money into it for the next three or so years and when it comes time to convert the reservation to an order you'll have a down payment ready to go. Not sure why Scout would want or need to be involved in this though, you can do it at literally any bank.