Extended Warranty

[hellolucid]

I would buy an extended warranty if they offered it.

 

[borski]

So given that is the case how much downside could there be with an extended warranty for those items not covered by the battery/motor/powertrain warranty currently in place?

I imagine that is precisely the question that they need to answer before offering an extended warranty. That’s one of those things that, once offered, you can’t easily “unwind,” and so I imagine doing the math of effectively underwriting the extended warranty is precisely why one isn’t in place yet.

That said, I would also buy it.

 

[Halodde]

I imagine that is precisely the question that they need to answer before offering an extended warranty. That’s one of those things that, once offered, you can’t easily “unwind,” and so I imagine doing the math of effectively underwriting the extended warranty is precisely why one isn’t in place yet.

That said, I would also buy it.

You can't put the toothpaste back in the tube etc...

I agree

 

[Buffalo Bob]

I imagine that is precisely the question that they need to answer before offering an extended warranty. That’s one of those things that, once offered, you can’t easily “unwind,” and so I imagine doing the math of effectively underwriting the extended warranty is precisely why one isn’t in place yet.

That said, I would also buy it.

From what I've seen, and thankfully, Lucid's engineering skills vastly exceeds their arithmetic prowess.

 

[californiaboy935]

I forgot that there are owners here who have already exceeded the 50K miles under the warranty. So what is Lucid waiting for? Offer the extended warranty now please. I won't get to 50k miles before my four years are up next March but I'd gladly sign up now if it were available.

Twas long long ago… when the world was young…

 

[SaratogaLefty]

I imagine that is precisely the question that they need to answer before offering an extended warranty. That’s one of those things that, once offered, you can’t easily “unwind,” and so I imagine doing the math of effectively underwriting the extended warranty is precisely why one isn’t in place yet.

That said, I would also buy it.

Ok so a number of current owners either already at or above the 50k miles or those of us who are approaching the four year expiration have indicated they would like to purchase the extended warranty; how long will it take to make it available?

 

[kopik]

Don't you guys think that with Lucid's current financial status, offering an extended warranty with it's potential significant liabilities would not be the company's highest priority?

 

[Lucken]

If they never offer an extended warranty one could legitimately ask if it’s indicative of their long term confidence in the product. Even with that said, any extended warranty could be priced so that those doubts are taken in to account. Of course that might make the pricing of the product so high that its value might be questionable to many.

 

[SaratogaLefty]

Don't you guys think that with Lucid's current financial status, offering an extended warranty with it's potential significant liabilities would not be the company's highest priority?

I agree it isn't the "highest priority" but it is still an important consideration and with owners already exceeding 50k miles it is now timely.

 

[Buffalo Bob]

What about all of these third party extended warranty companies that drive me totally nuts every time I have a car approaching the end of its bumper-to-bumper coverage? I have my doubts about them relative to an OEM extended warranty, but I'm a bit surprised they haven't surfaced. Maybe the volumes are just too low to get their attention, or maybe the ran the numbers and didn't like the risk profile. I'm guessing the former.

 

[Buffalo Bob]

Whether it's a refrigerator, car or whatever, I'm very happy to see a manufacturer offer a reasonably priced extended warranty. I seldom buy them, but I take great comfort in the fact that they expect to make a tidy profit at the offered price.

 

[SaratogaLefty]

Whether it's a refrigerator, car or whatever, I'm very happy to see a manufacturer offer a reasonably priced extended warranty. I seldom buy them, but I take great comfort in the fact that they expect to make a tidy profit at the offered price.

Yes exactly. It shows they have a high level of confidence in the quality of their product. If Lucid doesn't offer an extended warranty you have to wonder.

 

[msaunders9430]

This doesn't help with the overall topic, but owners of the first R1Ts, also released in '21 are in the same situation. No Rivian extended warranty.

Maybe the two CEOs are texting each other "you go first".

Since we're in March Madness I'll say "somebody's gotta shoot the game winning shot".