New member, researching Air cost of ownership

[z32fairlady]

Hi everyone. New member to the site. I've been a fan of Lucid since its debut. The used variants are becoming more attainable and I'm researching cost of ownership.

Feel free to drop links to threads or material focused on service, software, extended warranty, gotchas, etc. I've already started researching insurance costs, etc. Looking at a 2024-2025 model year.

 

[doubletwist]

Hi everyone. New member to the site. I've been a fan of Lucid since its debut. The used variants are becoming more attainable and I'm researching cost of ownership.

Feel free to drop links to threads or material focused on service, software, extended warranty, gotchas, etc. I've already started researching insurance costs, etc. Looking at a 2024-2025 model year.

Lucid Air Total Cost Of Ownership Service Extended Warranty

For those who think it's easier to annoy you than to Google 'Lucid air total cost of ownership service extended warranty' themselves.

letmegooglethat.com

 

[BS8899]

Hi everyone. New member to the site. I've been a fan of Lucid since its debut. The used variants are becoming more attainable and I'm researching cost of ownership.

Feel free to drop links to threads or material focused on service, software, extended warranty, gotchas, etc. I've already started researching insurance costs, etc. Looking at a 2024-2025 model year.

Does your definition of "Cost-of-ownership" only address maintenance or does it also include depreciation?

If you are talking only about maintenance, my 2022 AGT ran about $700/year, primarily for the annual maintenances, tires, fluids, etc.. SW is Lucis's Achilles heel. For my car, the hardware has been "OK" over my 4 years of ownership.....assuming I exclude the fact that Lucid had to replace my HV battery and Wunderbox in my first month of ownership.

Add to it license, insurance, add another $2,500-$3,000 +/-. Depreciation, then add another $15,000-$17,000 per year (based on a new AGT), prorate these numbers if you buy a used one.

 

[doubletwist]

Alternatively, if you have to ask, you can't afford it.

 

[Northpointe]

Cost of ownership is going to vary in the short and long term. As others have pointed out you're going to have the typical costs of operating the car (insurance, tires, other consumables). Some of those costs may be higher (insurance) depending on where you live and your history. These are incredibly expensive cars to repair following an accident and even minor road hazards (windshield damage) can result in a hefty bill.

I bought my 2023 Air last year and so far the only maintenance expense I've had is an annual service with an alignment and that ran about $600. I also had the car in for service to address squeaks and rattles and a couple of warped trim pieces. All of which were covered under warranty. So short term for me has been nominal.

What's less clear is the long term ownership costs of a Lucid outside of warranty. These are just starting to emerge now and can be very expensive. There are also other variables to consider such as your distance to the service center and the potential backlog for repair issues. Depending on where you live this could result in a 2+ month wait for a service appointment and a 1+ month repair time. Loaners may or may not be available during that period and I"m not sure how transportation costs come into play if your car needs to be delivered to/from a service center and is out of warranty.

So short term ownership costs are essentially negligible. But long term ownership costs are an unknown and could escalate very, very quickly.

 

[z32fairlady]

Cost of ownership is going to vary in the short and long term. As others have pointed out you're going to have the typical costs of operating the car (insurance, tires, other consumables). Some of those costs may be higher (insurance) depending on where you live and your history. These are incredibly expensive cars to repair following an accident and even minor road hazards (windshield damage) can result in a hefty bill.

I bought my 2023 Air last year and so far the only maintenance expense I've had is an annual service with an alignment and that ran about $600. I also had the car in for service to address squeaks and rattles and a couple of warped trim pieces. All of which were covered under warranty. So short term for me has been nominal.

What's less clear is the long term ownership costs of a Lucid outside of warranty. These are just starting to emerge now and can be very expensive. There are also other variables to consider such as your distance to the service center and the potential backlog for repair issues. Depending on where you live this could result in a 2+ month wait for a service appointment and a 1+ month repair time. Loaners may or may not be available during that period and I"m not sure how transportation costs come into play if your car needs to be delivered to/from a service center and is out of warranty.

So short term ownership costs are essentially negligible. But long term ownership costs are an unknown and could escalate very, very quickly.

This is great and nailing some of the concerns on the service timeliness. Thank you.

 

[BS8899]

Cost of ownership is going to vary in the short and long term. As others have pointed out you're going to have the typical costs of operating the car (insurance, tires, other consumables). Some of those costs may be higher (insurance) depending on where you live and your history. These are incredibly expensive cars to repair following an accident and even minor road hazards (windshield damage) can result in a hefty bill.

I bought my 2023 Air last year and so far the only maintenance expense I've had is an annual service with an alignment and that ran about $600. I also had the car in for service to address squeaks and rattles and a couple of warped trim pieces. All of which were covered under warranty. So short term for me has been nominal.

What's less clear is the long term ownership costs of a Lucid outside of warranty. These are just starting to emerge now and can be very expensive. There are also other variables to consider such as your distance to the service center and the potential backlog for repair issues. Depending on where you live this could result in a 2+ month wait for a service appointment and a 1+ month repair time. Loaners may or may not be available during that period and I"m not sure how transportation costs come into play if your car needs to be delivered to/from a service center and is out of warranty.

So short term ownership costs are essentially negligible. But long term ownership costs are an unknown and could escalate very, very quickly.

Agree with all of @Northpoint's remarks.

I just started on my 5th year of my ownership on my 2022 AGT. By far and away, the biggest "expense" is the depreciation of Lucid' s vehicles. To me. it significantly high than other brands.

I think the data is out there. You can research it yourself.

For my isolated case, after I purchased my 2022 AGT in October 2022, I also bought a 2023 Rivian R1S in Oct 2023. At the time of purchase, my AGT (~$140,000 before tax) was almost 2X the price of my R1S (~$72,000 before tax). As I renew by registration this month, the AGT is lower in value than the R1S by almost $10,000! They are both EVs. Lucid's steep depreciation is probably caused by the erosion of the brand and the service issues.

 

[Cosmo Cruz]

Hi everyone. New member to the site. I've been a fan of Lucid since its debut. The used variants are becoming more attainable and I'm researching cost of ownership.

For an EV in general: even the annual safety inspection is kinda optional...not that it should be but... who even uses the brakes?

I am an early-adopter / EV fan. I have been watching Tesla but never got "there". When I read about Lucid I was already too late to get on the Dream Edition list. Lucid makes the best car in the world. 4 years and going with my GT. Have bought wiper blades ... does that ruin it for you ?

You are either on the bus or off the bus

 

[Northpointe]

Agree with all of @Northpoint's remarks.

I just started on my 5th year of my ownership on my 2022 AGT. By far and away, the biggest "expense" is the depreciation of Lucid' s vehicles. To me. it significantly high than other brands.

I think the data is out there. You can research it yourself.

For my isolated case, after I purchased my 2022 AGT in October 2022, I also bought a 2023 Rivian R1S in Oct 2023. At the time of purchase, my AGT (~$140,000 before tax) was almost 2X the price of my R1S (~$72,000 before tax). As I renew by registration this month, the AGT is lower in value than the R1S by almost $10,000! They are both EVs. Lucid's steep depreciation is probably caused by the erosion of the brand and the service issues.

There are legitimate concerns about the company’s viability and that’s definitely going to show up in resale values. The foreign investment and control can make people uneasy and going through 3 CEO’s in 18 months is not good any way you spin it. And when you have this kind of turmoil it permeates the business.

 

[BS8899]

There are legitimate concerns about the company’s viability and that’s definitely going to show up in resale values. The foreign investment and control can make people uneasy and going through 3 CEO’s in 18 months is not good any way you spin it. And when you have this kind of turmoil it permeates the business.

Well said! The steep (significantly steeper than competitors) depreciation is an often-overlooked metric in the buying decision.

As in my example, Rivian might not have Lucid's swager, but it keeps its value much better.

These metrics might not faze many of the original Lucid enthusiasts as they don't care as much about depreciation and length of time to get service. But as Lucid tries to get into the mid-segment (vis-a-vis, Cosmos), these metrics will be a much more important in the buying decision.

 

[WildRide47]

Agree with all of @Northpoint's remarks.

I just started on my 5th year of my ownership on my 2022 AGT. By far and away, the biggest "expense" is the depreciation of Lucid' s vehicles. To me. it significantly high than other brands.

I think the data is out there. You can research it yourself.

For my isolated case, after I purchased my 2022 AGT in October 2022, I also bought a 2023 Rivian R1S in Oct 2023. At the time of purchase, my AGT (~$140,000 before tax) was almost 2X the price of my R1S (~$72,000 before tax). As I renew by registration this month, the AGT is lower in value than the R1S by almost $10,000! They are both EVs. Lucid's steep depreciation is probably caused by the erosion of the brand and the service issues.

Which makes it a bargain for those who purchase them used. Going on my 5th year as well with my 2022 AGT. Car still rides great and looks great.

 

[7OaksTom]

I bought my fully loaded Certified Pre-Owned (1 year extra on warranty) 2023 Air Touring with $18K miles used in May for $53,998.00. The cost new was $93,900. There's your depreciation. Buy a used one that is just coming off of lease. The cost of ownership is annual service which includes:
Every 1 year or 12,000 miles $600
Multi-Point Inspection
Tire Rotation (Only on models with the same size front and rear tires)
Tire Balance
Cabin Air Filter Replacement
Key Fob Battery Replacement
Sun Visor Battery Replacement
Wiper Blade Replacement

Every 2 years or 24,000 miles $675
All of the above
Brake Fluid Replacement
Air Conditioning Performance Check
Battery Health Check

12V Battery Replacement Every 4 Years or 48,000 miles
Tire Repair Sealant Replacement Every 5 Years or 60,000 Miles
Coolant Check Maintenance Every 3 Years or 36,000Miles

Electricity.
Assuming you live in house, install a 240 volt 50 amp or greater dedicated charging circuit with EV rated plug: $600 to $1,000. The 50 amp circuit is all you really need with the mobile charging cable, unless you are driving 100 miles a day.
Explore incentives from your electric utility. In San Diego, I pay about 12 cents a kWh if i charge Midnight to 6 am or 10 am to 2 pm with the EV rate. I like to charge while I'm sleeping. The only time you need DC fast charging (40-60 cents per kWh) is on road trips. I paid about 3 cents a mile for home charging. My Lexus Hybrid would coat 16 cents with $5.32 a gallon gas.

Tires will be more expensive because they have to carry a heavy car.
Insurance will be more expensive because of the value of the car and the cost to repair is much more expensive. I got the best rate from American Family Insurance sold by Costco.
If you want the comfort of a spare tire add $600. (I carry a can of Fix-a-flat).
Some states charge a surtax for EVs to offset the gas tax. (Calif)
Some have annual registration fee based on the value of the vehicle (Calif)

Others have mentioned the service issues: Sometimes it takes 2-3 months to schedule a maintenance appt. And, if it is problem that is safety or drivability concern, they will bring the car in right away and then get to it when they can squeeze you into the the schedule. I have had both experiences and the delays were mitigated with a Lucid Air loaner.

This is a luxury car and luxury cars are expensive to operate and maintain. However, this the driving experience with this car makes it all worth it for me.

 

[BS8899]

I bought my fully loaded Certified Pre-Owned (1 year extra on warranty) 2023 Air Touring with $18K miles used in May for $53,998.00. The cost new was $93,900. There's your depreciation. Buy a used one that is just coming off of lease. The cost of ownership is annual service which includes:
Every 1 year or 12,000 miles $600
Multi-Point Inspection
Tire Rotation (Only on models with the same size front and rear tires)
Tire Balance
Cabin Air Filter Replacement
Key Fob Battery Replacement
Sun Visor Battery Replacement
Wiper Blade Replacement

Every 2 years or 24,000 miles $675
All of the above
Brake Fluid Replacement
Air Conditioning Performance Check
Battery Health Check

12V Battery Replacement Every 4 Years or 48,000 miles
Tire Repair Sealant Replacement Every 5 Years or 60,000 Miles
Coolant Check Maintenance Every 3 Years or 36,000Miles

Electricity.
Assuming you live in house, install a 240 volt 50 amp or greater dedicated charging circuit with EV rated plug: $600 to $1,000. The 50 amp circuit is all you really need with the mobile charging cable, unless you are driving 100 miles a day.
Explore incentives from your electric utility. In San Diego, I pay about 12 cents a kWh if i charge Midnight to 6 am or 10 am to 2 pm with the EV rate. I like to charge while I'm sleeping. The only time you need DC fast charging (40-60 cents per kWh) is on road trips. I paid about 3 cents a mile for home charging. My Lexus Hybrid would coat 16 cents with $5.32 a gallon gas.

Tires will be more expensive because they have to carry a heavy car.
Insurance will be more expensive because of the value of the car and the cost to repair is much more expensive. I got the best rate from American Family Insurance sold by Costco.
If you want the comfort of a spare tire add $600. (I carry a can of Fix-a-flat).
Some states charge a surtax for EVs to offset the gas tax. (Calif)
Some have annual registration fee based on the value of the vehicle (Calif)

Others have mentioned the service issues: Sometimes it takes 2-3 months to schedule a maintenance appt. And, if it is problem that is safety or drivability concern, they will bring the car in right away and then get to it when they can squeeze you into the the schedule. I have had both experiences and the delays were mitigated with a Lucid Air loaner.

This is a luxury car and luxury cars are expensive to operate and maintain. However, this the driving experience with this car makes it all worth it for me.

I agree with you with respect that buying a heavily depreciated, low mileage, 1–3-year-old Lucid is probably the best strategy.

That said, it doesn't bode well for Lucinid's future if that's the model!

 

[martinjlm]

I agree with you with respect that buying a heavily depreciated, low mileage, 1–3-year-old Lucid is probably the best strategy.

That said, it doesn't bode well for Lucinid's future if that's the model!

Not directly. But in a couple years we will more than likely look to pass on our Model Y to one of our kids and my wife will be in the market for a new vehicle. Cosmos / Earth will likely be in the running. How strong the consideration will be is likely to be advised by our experience with the used Air.

 

[BS8899]

Not directly. But in a couple years we will more than likely look to pass on our Model Y to one of our kids and my wife will be in the market for a new vehicle. Cosmos / Earth will likely be in the running. How strong the consideration will be is likely to be advised by our experience with the used Air.

I get that.

But most Cosmos and Earth buyers likely won't have 3 or 4 cars in their garages and can afford to have the car be in service for 30+ days. For many, it might be a car they depend on every day. Lucid is a "country-mile" away from that milestone!

I hope Lucid gets there! But it is a long and arduis path!

 

[7OaksTom]

I agree with you with respect that buying a heavily depreciated, low mileage, 1–3-year-old Lucid is probably the best strategy.

That said, it doesn't bode well for Lucinid's future if that's the model!

Lucid's future is iffy but they have their Model Y competitor, the Cosmos, coming out next year.
They also have a couple of big deals for 30,000-50,000 Gravitys for the driverless rideshare business, one with Uber and another with a European company. They are backed by the Saudis and the plant building the Cosmos is in Saudi Arabia. The newest CEO is restructuring the business to meet those demands in a disciplined fashion and they are hiring service techs about as fast as they can find qualified people. I think there is more reason to hope for a better future.