Lease return excess wear & tear

[joec]

As a moderator, a stockholder, and someone who has a Touring lease coming to an end in December, believe me, I have a vested interest in seeing this situation resolved.

We all like to support the brand and the team, many of whom I have met and like personally. But being supportive includes raising the alarm bells when something this obvious and, frankly dumb, is effecting customers in such a needlessly negative way.

I reserve my criticism for when they really screw things up. And this is one of those times. This needs to be addressed. Yesterday.

It simply cannot be in Lucid's bet interest to let a third-party financial institution destroy their customer loyalty. Over what? Petty cash, in the scheme of things.

I'm no genius businessman. But the day I lose a lifelong client who regularly pays me thousands monthly over a couple of hundred dollars is the day I check into the psych ward. Any ten-year old would tell you to eat the charges on the obvious minor wear and tear and keep the relationship going. If BoA won't eat it fine; Lucid should.

I trust they are looking into it and will figure something out. I just hope it doesn't take too long and cost them too many customers.

 

[Murcie]

As a moderator, a stockholder, and someone who has a Touring lease coming to an end in December, believe me, I have a vested interest in seeing this situation resolved.

We all like to support the brand and the team, many of whom I have met and like personally. But being supportive includes raising the alarm bells when something this obvious and, frankly dumb, is effecting customers in such a needlessly negative way.

I reserve my criticism for when they really screw things up. And this is one of those times. This needs to be addressed. Yesterday.

It simply cannot be in Lucid's bet interest to let a third-party financial institution destroy their customer loyalty. Over what? Petty cash, in the scheme of things.

I'm no genius businessman. But the day I lose a lifelong client who regularly pays me thousands monthly over a couple of hundred dollars is the day I check into the psych ward. Any ten-year old would tell you to eat the charges on the obvious minor wear and tear and keep the relationship going. If BoA won't eat it fine; Lucid should.

I trust they are looking into it and will figure something out. I just hope it doesn't take too long and cost them too many customers.

I completely agree with you and I hope something is being done about this.
I'm in the same boat, early investor since $CCIV and I keep on doubling down and bringing my average stock cost lower because I believe in the long-term potential of Lucid. I bought the stock at $50 and at $2, and still HODLing
My lease is ending in October, and I'm already considering my other options to avoid going through the lease return process after reading the horror stories here, by either extending the lease or even buying it out (also considering that EV credit is going away), but anything to avoid this pathetic nit picking by BoA, which seem to be known about BoA with other brands btw.

 

[DrK]

Unintended consequences are different from unexpected consequences.

When dealing with raketeers. It is smart to have advanced Protection.

First off - what simple way can one protect oneself at time of lease signing. Is it take it or leave it?

It is my understanding if they wrote it, any omissions ambiguities or multiple definition disputes, the writer does not get to define later, so how about printing out their online terms and make lucid sign and date.

Also, How do you at end give them possession and yet be responsible for damage that may have occurred on their watch.

Our well priced lease on AGT may make it easy to absorb small charges and avoid conflict.

But the GGT and GDE are not priced that way. Reading this thread my wife said ‘I told you so” about little enhancements like bear decals hidden until you open the doors or trunk etc ( label on the inside)

Now we are set to take delivery of a GGT soon and I want protection ( and am not a lawyer and not looking to need one).

Any lawyers or business people have any ideas?

Obviously something that’s fair to Lucid and the buyer (BofA clearly can look out for themselves).

Getting back to ‘take it or leave it’ , who makes orphans? The ‘Leftits!’ Right now the demand gives orphans a home ( we are to be compromising in order to get our baby in hand) but…this?

It’s a problem that needs to be solved. Lucid, define your words and terms.

We want to lease to make everything simple.

 

[Bobby]

I’m curious where all the mod defenders are hiding. It seems like they’re always popping up to defend Lucid’s latest missteps.

This is a ridiculous statement.

 

[borski]

I’m curious where all the mod defenders are hiding. It seems like they’re always popping up to defend Lucid’s latest missteps.

what is a mod defender and do I get a cool costume

 

[L-Dude]

what is a mod defender and do I get a cool costume

A secret handshake and a decoder ring is all you get.

 

[SonofaBish]

Has anyone considered calling a local news "investigates" line? I always thought it was silly, and people may not feel bad for you because we're being screwed on our incredibly expensive car, but those types of exposure often get things done.

I had a home builder try to screw me over and run one time... I contacted the news and the local district attorney, and while I got pennies on the dollar back, the guy was tracked down and paid the price

 

[fisheral]

I actually think this is a fantastic class-action consumer fraud lawsuit with the bait and switch between Lucid's clear and unambiguous wear and tear guidelines and whatever the hell BoA is using as their guidelines.

 

[californiaboy935]

A secret handshake and a decoder ring is all you get.

Drink your Ovaltine?

 

[californiaboy935]

I actually think this is a fantastic class-action consumer fraud lawsuit with the bait and switch between Lucid's clear and unambiguous wear and tear guidelines and whatever the hell BoA is using as their guidelines.

And I assume you’re looking forward to your $10 rebate for that class action? Only people that win in litigation are lawyers. Trust me both my parents are lawyers…

 

[fisheral]

And I assume you’re looking forward to your $10 rebate for that class action? Only people that win in litigation are lawyers. Trust me both my parents are lawyers…

More like punishing Lucid for their egregious behavior.

 

[californiaboy935]

Y

More like punishing Lucid for their egregious behavior.

You mean Bank of America, N.A. Right? I agree that Bank of America’s conduct sucks. But is not out of character for BofA.

But Lucid has little to no direct control over BofA. As a new auto manufacturer on the block I can see BofA being like “we’ll do whatever we want… try and stop us” and blaming Lucid directly doesn’t help that.

Relationship seems like it’s pretty spelled out here:

Vehicle Lease End | Lucid Motors

Whether you want to purchase your current Lucid, lease or purchase a new one, or simply return your current vehicle, we’re here to help you understand all of your end of lease options so you can make an informed decision.

lucidmotors.com

 

[joec]

More like punishing Lucid for their egregious behavior.

You don’t punish a corporation. You refuse to continue doing business with them. Live and learn.

Best way to send a message to a business is to stop giving them money.

Besides, it’s BoA’s egregious behavior. Lucid could start looking for another financial partner. And I hope they are. But our current leases are tied up with BoA no matter what. So it’s a matter of letting BoA do whatever it’s going to do (since I’m sure Lucid has zero control over them) and making it up to us in some other way.

Like I said, swallowing some of the cost of the more egregious wear and tear claims would be one way to do that. It’s going to hurt the bottom line, but not nearly as much as losing another lease. And another. And another.

This is one of those times where you have to think about the long term. Not the quarter.

 

[Steveinarizona]

Y

You mean Bank of America, N.A. Right? I agree that Bank of America’s conduct sucks. But is not out of character for BofA.

But Lucid has little to no direct control over BofA. As a new auto manufacturer on the block I can see BofA being like “we’ll do whatever we want… try and stop us” and blaming Lucid directly doesn’t help that.

Relationship seems like it’s pretty spelled out here:
View attachment 31072

Vehicle Lease End | Lucid Motors

Whether you want to purchase your current Lucid, lease or purchase a new one, or simply return your current vehicle, we’re here to help you understand all of your end of lease options so you can make an informed decision.

lucidmotors.com

IMO if the loan was originated by B of A, then the terms of that lease contract would apply. If, on the other hand, it was originated by Lucid and assigned to B of A, then IMO this provision and the contract would both seems to apply as the third party contract buyer (B of A) would be bound to the lessee by the terms that the lessee agreed to. In the latter case, B of A is servicing a lease established and agreed to by another and it is bound by those terms.

 

[californiaboy935]

IMO if the loan was originated by B of A, then the terms of that lease contract would apply. If, on the other hand, it was originated by Lucid and assigned to B of A, then IMO this provision and the contract would both seems to apply as the third party contract buyer (B of A) would be bound to the lessee by the terms that the lessee agreed to. In the latter case, B of A is servicing a lease established and agreed to by another and it is bound by those terms.

If it’s anything like the financing process then it’s originated by BofA and completely separate.

 

[Batteryman]

As a moderator, a stockholder, and someone who has a Touring lease coming to an end in December, believe me, I have a vested interest in seeing this situation resolved.

We all like to support the brand and the team, many of whom I have met and like personally. But being supportive includes raising the alarm bells when something this obvious and, frankly dumb, is effecting customers in such a needlessly negative way.

I reserve my criticism for when they really screw things up. And this is one of those times. This needs to be addressed. Yesterday.

It simply cannot be in Lucid's bet interest to let a third-party financial institution destroy their customer loyalty. Over what? Petty cash, in the scheme of things.

I'm no genius businessman. But the day I lose a lifelong client who regularly pays me thousands monthly over a couple of hundred dollars is the day I check into the psych ward. Any ten-year old would tell you to eat the charges on the obvious minor wear and tear and keep the relationship going. If BoA won't eat it fine; Lucid should.

I trust they are looking into it and will figure something out. I just hope it doesn't take too long and cost them too many customers.

Makes sense....though it is contractual for BOA to charge for minor damage, it's inappropriate not be within industry norms, giving Lucid a bad name.

BOA also has a sell rating on Lucid, they just reiterated their $1 price target, and they shorted the company stock. I bet you there is more to this story than meets the eye.

Lucid should divulge from BOA and go with somone else, especially given the application process shehanigans that some customers were getting. Why pay a company that is shorting your stock? Listening Lucid executives?

 

[borski]

BOA also has a sell rating on Lucid, they just reiterated their $1 price target, and they shorted the company stock. I bet you there is more to this story than meets the eye.

I bet you there isn’t. Occam’s razor applies here. It is much more likely BoA are just being sticklers than some nonsense conspiracy.

 

[fisheral]

I bet you there isn’t. Occam’s razor applies here. It is much more likely BoA are just being sticklers than some nonsense conspiracy.

I agree, but Lucid should do everything they can to disentangle themselves from BoA.

 

[JosephMR]

How is it that three tiny chips on the windshield that probably would never cause anyone to change the windshield not normal wear and tear? Do they seriously expect that you'll drive a car for 18 months and nothing ever hits your windshield?

I have leased many cars and out of all those, I've had to pay for one tire that was, indeed, in need of replacement.

I will tell you that I am not looking forward to returning this car based on what I've heard about the return process.

Question: What if we don't pay? Will they send us to collection? If they do, I'll sue them -- I'm a lawyer and it won't cost me money.

Can you tell I'm angry?


My advice if you get hit with a bogus lease return bill:
Check your lease agreement—odds are it has an arbitration clause. If it does, file for arbitration right away. In California (and many other states), the company—not the consumer—must pay the arbitration fees. That means Bank of America could be on the hook for $1,000 to $5,000 just to show up.

I’ve given this advice in other situations, and nine times out of ten, the company quickly settles for pennies on the dollar rather than eat those fees.

If they do not settle, you can still represent yourself at arbitration. The burden of proof is on them—they have to show the damage was beyond normal wear and tear. Not you.

And if you lose? All you’re out is your time—and you were on the hook for the bill anyway.

 

[marsarbu]

You don’t punish a corporation. You refuse to continue doing business with them. Live and learn.

Best way to send a message to a business is to stop giving them money.

That's not true. If you just stay silent, others will get caught in the web. And this is not about punishment, it's about gently helping them to get better, sooner.

All the major (good) changes that happened with the big corp, happened because massive media or financial pressure. No body self-corrects, because correction is expensive. Left on their own devices they won't change anything, because why would they?

Here are the facts: if I break my contract with Lucid and BoA in anyway, I'm screwed. It's only fair to expect that if they break the contract, they should feel the consequences too.