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2024 Lucid Air Touring — $22K Repair Estimate, Insurance Wants to Total It. Advice?

CougarSpeed10

CougarSpeed10

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Lucid Air touring
Hi everyone,

Looking for some advice from fellow Lucid owners.

We have a 2024 Lucid Air Touring with approximately 48,000 miles. It recently sustained what appeared to be fairly minor front-end damage, including a dent in the hood. To our surprise, the repair estimate came back at over $22,000, and the insurance company is considering declaring the vehicle a total loss.

We originally paid around $120,000 for the car, and as we all know, depreciation on these vehicles has been pretty dramatic. From what I'm seeing, the current market value may be somewhere in the $30,000–$37,000 range.

We're now trying to decide what makes the most financial sense.

Has anyone experienced a similar situation where relatively limited damage resulted in such a high repair estimate or a total loss?

If the insurance company totals it, how do we make sure we're getting a fair market valuation?

We're also considering taking the insurance payout and purchasing another lightly used Lucid Air Touring, possibly with fewer miles and in a color we'd prefer.

Would love to hear from anyone who's been through this, especially regarding insurance settlements, negotiating vehicle values, or buying another used Lucid.

Thanks in advance for any advice!
 

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Maybe make the settlement, buy it back, and find another source for a cheaper repair? If it were my 2-year old car, I'd likely be good with "close enough" if things are just cosmetic.
 
Nunya said:
Maybe make the settlement, buy it back, and find another source for a cheaper repair? If it were my 2-year old car, I'd likely be good with "close enough" if things are just cosmetic.
Click to expand...
Want to bet there’s things behind that “cosmic” damage that needs calibration

It’s not 1966 anymore
 
If your insurer says it’s totaled I’d consider it totaled. They are looking at the repair cost as a percentage of the overall value of the car and that seems to support the decision. Even if repair was justified you would take a significant hit on resale (it wouldn’t be worth the market value you cited).

Since you have a good idea of what market value is you should be able to advocate for a fair settlement. Just be clear and realistic in doing so.
 
I am more shocked at how much the damage costs to be fixed. It is incredible how expensive it is. I am wondering if I should buy another Lucid or not?
 
I'm shocked that the photo you showed (assuming that's all the damage) = totaling the car!
@Nunya's advice ("...make the settlement, buy it back, and find another source for a cheaper repair") seems really smart to me, though who knows how many hours of your time that will take.
Imagine paying $20k (or $30k?) for a 2024 Touring with 48k miles and that specific cosmetic damage.
 
These repair cost nightmares have me reconsidering the wisdom of placing an order a Lucid AGT…
 
CougarSpeed10 said:
Hi everyone,

Looking for some advice from fellow Lucid owners.

We have a 2024 Lucid Air Touring with approximately 48,000 miles. It recently sustained what appeared to be fairly minor front-end damage, including a dent in the hood. To our surprise, the repair estimate came back at over $22,000, and the insurance company is considering declaring the vehicle a total loss.

We originally paid around $120,000 for the car, and as we all know, depreciation on these vehicles has been pretty dramatic. From what I'm seeing, the current market value may be somewhere in the $30,000–$37,000 range.

We're now trying to decide what makes the most financial sense.

Has anyone experienced a similar situation where relatively limited damage resulted in such a high repair estimate or a total loss?

If the insurance company totals it, how do we make sure we're getting a fair market valuation?

We're also considering taking the insurance payout and purchasing another lightly used Lucid Air Touring, possibly with fewer miles and in a color we'd prefer.

Would love to hear from anyone who's been through this, especially regarding insurance settlements, negotiating vehicle values, or buying another used Lucid.

Thanks in advance for any advice!
Click to expand...
If that is a total loss, these cars are going to get blacklisted sooner or later.
 
CougarSpeed10 said:
I am more shocked at how much the damage costs to be fixed. It is incredible how expensive it is. I am wondering if I should buy another Lucid or not?
Click to expand...
All new monocoque design vehicles are expensive to fix. If you prefer a less expensive fix then you have to get an inexpensive car to begin with.
 
kurious said:
I'm shocked that the photo you showed (assuming that's all the damage) = totaling the car!
@Nunya's advice ("...make the settlement, buy it back, and find another source for a cheaper repair") seems really smart to me, though who knows how many hours of your time that will take.
Imagine paying $20k (or $30k?) for a 2024 Touring with 48k miles and that specific cosmetic damage.
Click to expand...
If the car is going to be repaired to Lucid specs it will have to go through a certified body shop. You would likely be unable to find another shop that could source the parts and do the repair properly. And that would be a painful lesson to learn on the back end. We really can’t comment on the cost and extent of the repair without seeing the detailed estimate. And as was captured in another post there’s a lot with these cars that can’t be seen with the naked eye.
 
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