At last, change is coming to U.S. markets.

Before this year is over, the first equity crowdfunding deals will be live.

For the first time in 82 years, average Americans will be legally allowed to invest in private companies.

That privilege has been reserved for “accredited” investors since the Securities Act of 1933.

For 94% of Americans, this will be their first opportunity to invest in a private deal.

It’s an exciting time, but I’d recommend newcomers proceed at a measured pace. A lot of research and diligence should be done before you jump into a deal.

Now, let’s take a look at what will probably be the first equity crowdfunding deal to go live.

Elio Motors

Since 2009, Paul Elio and his company have been working on a three-wheeled car. They say the Elio will retail for around $6,800 and get 84 mpg. There are real working prototypes (albeit with a different engine than will be in the production model).

All the paperwork for this deal to go live has been filed with the SEC. It looks like Elio will go live by late this month or early next. It will be raising money on an equity crowdfunding site called StartEngine.

You can “reserve” shares in Elio Motors here (nonbinding). But before you consider doing that, there are a bunch of things you should know about the deal. Due diligence is required in any investment, but especially a high-risk one like this.

First off, building a new car company in the U.S. is probably one of the riskiest endeavors one could undertake. It takes a lot of money, a lot of skill and a fair amount of luck.

But as we have seen with Elon Musk’s Tesla, it’s one of the most potentially rewarding. So I do feel like this deal is worth an examination.

Elio also happens to have a solid management team with deep experience in the industry. Read more about its team’s experience here.

It’s a radically different type of car. Technically, it’s not a car at all. The Elio is classified as a motorcycle.