Extended Warranty

[californiaboy935]

As someone who is out of the bumper to bumper warranty, if the car starts having significant issues that cost a lot of money and cause massive inconvenience (it's 6 hours to the closest service center and I'd have to pay for transport), I'd opt for a different vehicle next time. We'll have to see how it plays out

 

[WildRide47]

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My AGT is just past 3 years old, but like you I am concerned about what happens when I am out of warranty at the 4 year mark. Paying thousands of dollars for transport(both ways) is not something that is acceptable. That leaves me with a dilemma. Do I take my chances and hope that all service can be done in my garage when my Air is out of warranty or do I sell my Air prematurely, because I don't want to take a chance of being stuck with a multi thousand dollar transport bill. I know many others are going to be in the same situation within the next year. I would hope that Lucid comes up with an acceptable solution to mitigate the transport charges, otherwise Lucid is going to lose repeat customers.(Before I bought my 2022 AGT I was originally told that the company was new and that the service centers were expanding and that a Portland center would likely be operational sometime within the next few years. Though I know I was given no guarantee I can see that this is something that is not going to happen anytime soon. This is not good for PR as well. Why would anyone not living close to a service center buy a Lucid if they know they are restricted to a 4 year time period, because of potential huge transport costs after the warranty expires. I would think that this would wave a big red flag to potential buyers and have them reconsider instead going to BMW, Porsche, Mercedes Hundai and other manufacturers that are located close by. I would appreciate comments from other Lucid owners and possible solutions as this is going to be a big problem this next year.

 

[msaunders9430]

Porsche, Benz, and BMW offer extended warranties, as does Tesla.
Rivian and Lucid, as the newbies, do not so far. For Lucid, I hope that changes.
An extended warranty says "support of customers and products" to me; confidence in the product.

The entry of Gravity into the Lucid product line should be irrelevant since '22 Air models purchased in late '21 will be out-of-warranty based on time, by end of this year.
We know some are already out of warranty.

It's been said, Lucid is working on something.
Add extended warranty to their To Do list I suppose.

 

[SaratogaLefty]

I guess if Lucid doesn't offer an extended warranty I would find that to be a big negative for any future buyers. I am planning to keep my Dream for a long time. I do love this car but I am very disappointed that they haven't yet offered the extended warranty. I still have another 9 months left (only 20k miles so far) and I'm still hoping something gets offered before expiration.

 

[californiaboy935]

I guess if Lucid doesn't offer an extended warranty I would find that to be a big negative for any future buyers. I am planning to keep my Dream for a long time. I do love this car but I am very disappointed that they haven't yet offered the extended warranty. I still have another 9 months left (only 20k miles so far) and I'm still hoping something gets offered before expiration.

I’d look into the third party ESA’s people suggested above. I’d say it’s highly unlikely for Lucid to come out with an in house option. But I could be wrong. I’ve been wrong before.

 

[WildRide47]

I’d look into the third party ESA’s people suggested above. I’d say it’s highly unlikely for Lucid to come out with an in house option. But I could be wrong. I’ve been wrong before.

What good is a 3rd party ESA if it does not cover the transportation costs(both ways) to a service center that is hundreds of miles away.

 

[californiaboy935]

What good is a 3rd party ESA if it does not cover the transportation costs(both ways) to a service center that is hundreds of miles away.

Have you discussed transportation cost with Lucid? You might find that they’ll transport the vehicle (for a low cost or gratis) if they’ve been transporting it for free given you are servicing the car with the manufacturer. I would ask. Before making the assumption.

 

[msaunders9430]

I’d look into the third party ESA’s people suggested above. I’d say it’s highly unlikely for Lucid to come out with an in house option. But I could be wrong. I’ve been wrong before.

I'm nowhere near needing an extended warranty yet (need my GGT for the clock to start), but I'm kind of a planner, so thinking ahead.
I anticipate putting about 6k miles per year on my Gravity, so 25k miles in 4 years.

Pricing for 3, 4, and 5 year extended warranties on a '22 Air with 25k miles from Xcelerate Auto is shown below.
The 4 year warranty is basically extended the Lucid basic warranty another 4 years.
One negative is that warranty includes battery and drive unit coverage which would still be covered under the Lucid 8 yr. warranty, so you're paying double for that coverage.
A huge unknown is what's it like working with the company.

At a cost of $5500 (~ $1375/yr; ~ $115/mth) for 4 yrs. of coverage, that's around the max amount I'd pay out-of-pocket for a repair.
The question is how often that max amount has to be paid.
The $100 deductible can probably be increased which should result in a lower price, but the website doesn't say.
Looking at the Lucid Repair Costs spreadsheet prepared by @californiaboy935 the maximum repair cost is a hood ($4250), but then you have that $27k rear motor assembly.
That makes $5500 look like a bargain, but again, the likelihood ...
Another consideration, as with car insurance, at what cost is the car considered to be "totalled" and you're just given market value for the car.

Insurance is like accounting for worst case scenarios and the likelihood of multiple scenarios occuring.

Hopefully somebody (aka early Air owner) will be a pioneer in this frontier if Lucid doesn't offer a product.

 

[msaunders9430]

Looking at the Lucid Repair Costs spreadsheet prepared by @californiaboy935 the maximum repair cost is a hood ($4250), but then you have that $27k rear motor assembly.
That makes $5500 look like a bargain, but again, the likelihood ...

And yet, knowing that the Lucid 8 yr. warranty would cover that motor assembly, that $5500 looks like wasted money.

Between the existence of the Lucid warranty on possibly the most expensive repairs (battery and powertrain) and being prone to depreciation and what a warranty company would cover, funding a personal "repair cost" account, might be the best move.

I'll shut up now because I don't even own a Lucid ... YET.

 

[WildRide47]

Have you discussed transportation cost with Lucid? You might find that they’ll transport the vehicle (for a low cost or gratis) if they’ve been transporting it for free given you are servicing the car with the manufacturer. I would ask. Before making the assumption.

Since my warranty does not expire till next April, I saw no reason to discuss with Lucid what they might or might not do 9+ months from now. I was not making any assumption. I was making the statement that at the present time an extended warranty is useless if the transportation costs are not included. What Lucid will do in the future is anybody's guess. In fact you are making the assumption that Lucid will possibly transport the vehicle for a low cost or gratis with your last statement. Nobody knows if that will happen. My point was offering an extended warranty without taking into account transportation costs is useless and I still stand by my statement.

 

[Ughwhy]

I'm not following all this anxiety over lack of a Lucid provided extended warranty. If you exclude "fit and finish" types of repairs (which presumably would have been rectified by the time the base warranty expires), and you exclude powertrain and battery (covered by the longer 8-year 100K base warranty), what sorts of malfunctions are you worried about that would justify the expenses of these extended warranties?

Keep in mind that wear and tear items (like brake pads) are typically not covered by extended warranties.

For people worried about transportation costs, get a AAA towing plan or some other plan whose sole purpose is towing.

 

[msaunders9430]

I'm not following all this anxiety over lack of a Lucid provided extended warranty. If you exclude "fit and finish" types of repairs (which presumably would have been rectified by the time the base warranty expires), and you exclude powertrain and battery (covered by the longer 8-year 100K base warranty), what sorts of malfunctions are you worried about that would justify the expenses of these extended warranties?

Keep in mind that wear and tear items (like brake pads) are typically not covered by extended warranties.

For people worried about transportation costs, get a AAA towing plan or some other plan whose sole purpose is towing.

Valid question asked and points made.
No anxiety for me.
Just part of my normal research process.

Others may be doing the same.