Pre Owned Pricing Fluctuations

[FluxCap]

I’m in the market for a AGT. Checked out the pre owned section of the Lucid site over the weekend. Selected a few cars that would work. Went back to peruse some more this morning to find out that all the cars seem to have received a $7K increase today. Yesterday their most expensive ‘23 with low miles was $70K and now it’s $77K. Is this normal? Those increases have almost entirely wiped out the benefit of their current promotional loan rate. Frustrating. I was planning to pull the trigger this week. Now I’m not so enthusiastic. Any experience of this “Dynamic” pricing before now? Can’t imagine it’s driving sales to the finish line for anyone who saw where the pricing was just yesterday. Thoughts?

 

[Northpointe]

I have to say it’s a first to me and I see what you’re talking about as I do track prices on their site. More importantly it’s counterintuitive to where the market is moving as a whole.

While it may be a bit of an outlier, a 2022 AGT with 32K miles just sold for $46K (+$2,300 auction fee) on Bring A Trailer on Friday. Low mileage examples are going for around $65K nationwide. That’s about what I paid through a dealer for my 23 AGT with 7K miles in September.

I saw little benefit in buying a pre-owned vehicle directly from Lucid. The online images are lacking and don’t show flaws. There’s no “certified” (extended warranty) program per se and the reconditioning program doesn’t seem particularly noteworthy. The balance of the new warranty is fully transferable whether you buy from Lucid, another dealer, or private party.

My advice would be to expand your reach as there are deals to be had. There’s a couple of dealers in NJ and FL that seem to get a lot of low mileage used inventory. You can identify them through a quick search on Cars.com. You’ll likely have to factor in shipping or traveling to get the car but the same holds true with Lucid.

 

[Northpointe]

BTW. The preowned prices through Lucid were high before they made this $7K adjustment. With their current pricing they’re now about $14K higher than what I paid for a comparable spec in September.

 

[FluxCap]

I have to say it’s a first to me and I see what you’re talking about as I do track prices on their site. More importantly it’s counterintuitive to where the market is moving as a whole.

While it may be a bit of an outlier, a 2022 AGT with 32K miles just sold for $46K (+$2,300 auction fee) on Bring A Trailer on Friday. Low mileage examples are going for around $65K nationwide. That’s about what I paid through a dealer for my 23 AGT with 7K miles in September.

I saw little benefit in buying a pre-owned vehicle directly from Lucid. The online images are lacking and don’t show flaws. There’s no “certified” (extended warranty) program per se and the reconditioning program doesn’t seem particularly noteworthy. The balance of the new warranty is fully transferable whether you buy from Lucid, another dealer, or private party.

My advice would be to expand your reach as there are deals to be had. There’s a couple of dealers in NJ and FL that seem to get a lot of low mileage used inventory. You can identify them through a quick search on Cars.com. You’ll likely have to factor in shipping or traveling to get the car but the same holds true with Lucid.

Thanks for the great info and insight. I thought it was a glitch on their website when I first saw that it had changed upwards given the current market TBH. Everything I’ve read supports your take on the current market and probable pricing trajectory. I saw a ‘22 AGT with 5K miles sell on the Lucid site yesterday for $64,498 so that’s inline with your experience. There were other 22 AGTs with low miles with the same price that are now $71,498. Most of their inventory including ‘22’s and ‘23’s seem to have std warranties through March of ‘28 with a couple of outliers. I’ll investigate the wider market some more as you suggested. Thanks again.

 

[Northpointe]

Thanks for the great info and insight. I thought it was a glitch on their website when I first saw that it had changed upwards given the current market TBH. Everything I’ve read supports your take on the current market and probable pricing trajectory. I saw a ‘22 AGT with 5K miles sell on the Lucid site yesterday for $64,498 so that’s inline with your experience. There were other 22 AGTs with low miles with the same price that are now $71,498. Most of their inventory including ‘22’s and ‘23’s seem to have std warranties through March of ‘28 with a couple of outliers. I’ll investigate the wider market some more as you suggested. Thanks again.

Carvana just added a 2022 AGT to their inventory with 10K (9,070 actual) miles at $57,990. It’s available for pre-order. Low mileage examples on their site are usually snatched up quickly. Based on the Carfax the in service date is 1/5/23 which should mean a warranty expiration date of 1/27.

 

[FluxCap]

Carvana just added a 2022 AGT to their inventory with 10K (9,070 actual) miles at $57,990. It’s available for pre-order. Low mileage examples on their site are usually snatched up quickly. Based on the Carfax the in service date is 1/5/23 which should mean a warranty expiration date of 1/27.

I did spot that this morning. Thanks for the heads up though. I’ve signed up for more info as they post it.