Trading In a Car for a Lucid

[EcoMaz]

Totally agree, and in this day and age of phishing and other scams has me very worried. The lack of consistency throughout has been a little jarring to say the least. I might be a little premature stating ownership at this point.

I just got the trade-in offer on the Tesla from Lucid (via KBB). It was $2,111 above the trade-in price I got yesterday by going directly to the Kelley website. Don't know why; didn't ask.

So we closed on the private sale at the trade-in figure from Lucid plus the sales tax offset the buyer agreed to cover. The private sale estimate from Kelley was a bit higher, but finding a buyer for a Tesla these days isn't a sure thing, and getting our buyer to cover the sales tax offset pretty much closed the gap, anyway.

Now, if we could just get VINs from Lucid . . . .

Sorry for hi-jacking your post and congrats on the sales and purchase.

 

[Chrry]

the usps needs some work. We got a 𝒄𝒆𝒓𝒕𝒊𝒇𝒊𝒆𝒅 letter that cost over $9. for them to send and needed a signature (son signed) from SCE talking about a fine we owed due to a clothes line we had up (never had a clothes line) in 2023!?!?!?
Looked online and SCE says they never send certified mail and lots of scams like that going around. I mean…. They paid $9.+ to send a bogus, unintelligent piece of crap!!!!

 

[hmp10]

the usps needs some work. We got a 𝒄𝒆𝒓𝒕𝒊𝒇𝒊𝒆𝒅 letter that cost over $9. for them to send and needed a signature (son signed) from SCE talking about a fine we owed due to a clothes line we had up (never had a clothes line) in 2023!?!?!?
Looked online and SCE says they never send certified mail and lots of scams like that going around. I mean…. They paid $9.+ to send a bogus, unintelligent piece of crap!!!!

Some of these scams are getting really convoluted.

A couple of years ago a friend received an order from Amazon that he never placed. Nor had his account been charged for it. When he called Amazon, they said such incidents were starting to show up, and they had concluded that scammers were sending things to potential targets to observe their houses to see how deliveries were being received. It was a way to find out if the address was a good one to use for shipping contraband so that the real recipient could retrieve and safely abscond with the package without his name ever being associated with the shipment.

 

[DenverLucid]

Shop around. I just traded my BMW 530e for a AT. Here is where the prices came in...

Lucid KBB - $19511
Carvana - $22500
Echo Park - $22250
Autonation - $20000
Carmax - $17500

In the end Echo Park matched Carvana and added a $300 sweetener so I sold it to them for $22800

 

[borski]

I just got the trade-in offer on the Tesla from Lucid (via KBB). It was $2,111 above the trade-in price I got yesterday by going directly to the Kelley website. Don't know why; didn't ask.

So we closed on the private sale at the trade-in figure from Lucid plus the sales tax offset the buyer agreed to cover. The private sale estimate from Kelley was a bit higher, but finding a buyer for a Tesla these days isn't a sure thing, and getting our buyer to cover the sales tax offset pretty much closed the gap, anyway.

Now, if we could just get VINs from Lucid . . . .

How are you calculating the sales tax offset? Educate me <3

 

[hmp10]

How are you calculating the sales tax offset? Educate me <3

I used the number on the KBB quote for the amount of sales tax I would avoid in my zip code if I traded with a dealer in the KBB network.

 

[Celeras]

Carvana offered me 21,400 for my trade-in, LUCID gave me 22,821(+2000). So considerably more. YMMV.

 

[GravitMe]

Lucid is dragging their feet paying off my trade-in. I closed on December 10th, and this should have been taken care of by now, the next payment is due on the 1st. Anyone have this issue?

 

[thyname]

Lucid is dragging their feet paying off my trade-in. I closed on December 10th, and this should have been taken care of by now, the next payment is due on the 1st. Anyone have this issue?

I am afraid to say, it’s not Lucid per se, it’s KBB who actually does the trade ins. like leases, third party. lucid is just the referrer / facilitator. good luck

 

[GravitMe]

I am afraid to say, it’s not Lucid per se, it’s KBB who actually does the trade ins. like leases, third party. lucid is just the referrer / facilitator. good luck

I understand KBB facilitates trade-ins in a partnership with Lucid, however my purchase agreement is with Lucid and they ultimately have responsibility to ensure any balances get paid timely. Not paying off trade-in balances timely and leaving your new customers on the hook for payments of vehicles no longer in their possession, until paid off by KBB, is bad business on Lucid's end.

 

[thyname]

I understand KBB facilitates trade-ins in a partnership with Lucid, however my purchase agreement is with Lucid and they ultimately have responsibility to ensure any balances get paid timely. Not paying off trade-in balances timely and leaving your new customers on the hook for payments of vehicles no longer in their possession, until paid off by KBB, is bad business on Lucid's end.

I am afraid you don’t understand how this works. I realize blaming others is much easier than admitting your lack of understanding stuff at inception. common human behavior, I don’t blame you.

best of luck to you

 

[GravitMe]

Ok, buddy! I don't care how they work it out on the back end, on the front end the dealer acquisition contract is with Lucid group USA Inc., not KBB. It'll all get worked out eventually and get paid, but if for some reason it didn't, Lucid would be on the hook per the contract.

 

[Cosmo Cruz]

I asked and was told nothing can start with the trade-in until I have a delivery date. He said it was because trade-in values are moving quickly.

Someday ICE cars, if not collectable or otherwise special, will be worthless.

 

[boydracing]

Ok, buddy! I don't care how they work it out on the back end, on the front end the dealer acquisition contract is with Lucid group USA Inc., not KBB. It'll all get worked out eventually and get paid, but if for some reason it didn't, Lucid would be on the hook per the contract.

If you released the tradein on Dec 10th, you will 'true-up' the finances (monies) at the end when they pay off. That includes any payment you send in the meantime. That is my experience and understanding.

 

[GravitMe]

If you released the tradein on Dec 10th, you will 'true-up' the finances (monies) at the end when they pay off. That includes any payment you send in the meantime. That is my experience and understanding.

Yup, a true up (someone cutting me a reimbursement check) will happen if I ended making another payment...I've traded numerous vehicles in the past and have never had an issue with an existing loan amount on a trade-in not being paid timely...I get Lucid has a different way of doing things, but this scenario should never happen if the organization was well run on the finance side...

 

[prgarg]

Sort of anticipating this situation, I paid off my car before trading it in to Lucid

 

[GravitMe]

They finally paid off the trade-in on the 2nd, which is great! Longer than the 10 day payoff they asked for, but it's done. Like @prgarg mentioned, probably wise to pay-off trade-in prior, if possible, to avoid possibility being on the hook for additional payments.