Electric Vehicles

[Martinjlm]

Originally Posted by docwra

I can guess what it is, very nice indeed. My etron is coming to end of lease so looking at an Audi SQ6 or Merc EQS to replace, the Merc particularly feels like a "next generation" vehicle

I'm sure you can. You seem to know your EVs.

Originally Posted by 102SS

So what is it?

2023 Lucid Air Grand Touring. Monroney is $140,600. Paid $55,800 for a lease turn-in with 21,000 miles. Compared to my Camaro that stickered at $55,495 nine years ago.

Here's a review from 2023 when this one was new. https://youtu.be/k4gPEQRmxLQ?si=PbMqeJrRxIxyGUzh

[Capricio]

Originally Posted by Martinjlm

2023 Lucid Air Grand Touring. Monroney is $140,600. Paid $55,800 for a lease turn-in with 21,000 miles.

Even if this had a $20,000 profit margin at MSRP, how can this be a sustainable business for the title holder at the end of term with such a low residual value? ..and I assume this includes some level of transferrable factory warranty remaining?

I guess the same level of depreciation is true for Bentleys, Maseratis, and other exotics. I'd be more wary of software issues in a low volume "exotic" EV than crazy engine maintenance costs associated with ICE exotics.

But, enjoy your new ride, it looks great and I'm sure it rides as well as it performs. I hope to experiment with different leisure/pastime rides in retirement someday, too.

[Martinjlm]

Originally Posted by Capricio

Even if this had a $20,000 profit margin at MSRP, how can this be a sustainable business for the title holder at the end of term with such a low residual value? ..and I assume this includes some level of transferrable factory warranty remaining?

I guess the same level of depreciation is true for Bentleys, Maseratis, and other exotics. I'd be more wary of software issues in a low volume "exotic" EV than crazy engine maintenance costs associated with ICE exotics.

But, enjoy your new ride, it looks great and I'm sure it rides as well as it performs. I hope to experiment with different leisure/pastime rides in retirement someday, too.

This car sorta lands in the sweet spot of typical luxury sedan depreciation (ask BMW / Bentley / Mercedes owners) and the evolving reality of software defined vehicles. It is not unsual for people to allow the first owner of a luxury vehicle to "take the hit" on depreciation. That happened.

But, in this new world of software defined vehicles, it is often true that vehicles get better with age. We bought a Tesla Model Y in 2023. Through frequent updates from Tesla to a) fix various bugs and quirks, b) adjust system operations to adopt preferences communicated by owners and c) add new functionality, our Model Y is a better, more capable vehicle than it was in 2023 when we bought it. But today, you can buy a 2023 Model Y for $27 - 30k.

So for the Air GT that I just bought, most of the key fob glitches have been addressed, the software that runs the screen interface is much faster and responds to commands the way it's supposed to, Apple Car Play has been added, and the Dream Drive Pro ADAS software has been upgraded to provide handsfree driving. I'll get to enjoy these things, even though the original lease customer never did. I don't know what their lease deal was but my purchase deal is pretty solid.

[snizzle]

This replace your Tesla or you just collecting EVs at this point? ... happy with the Equinox still?

[Martinjlm]

Originally Posted by snizzle

This replace your Tesla or you just collecting EVs at this point? ... happy with the Equinox still?

The short answer to your question...it eventually replaces the EQEV, which I have been very pleased with.

I'd have to sleep in the basement if I tried to get rid of the Tesla. May or may not get fed. That's her vehicle that I get to drive occasionally. The Equinox is a lease, so I'll just turn that in when the lease is over. The way the Lucid even happened is that I have been low-key reviewing options for what to do when the lease is up on the Equinox EV.

The Equinox EV has been my daily driver and the Camaro and MR2 my "fun" cars. I started out debating whether I wanted to go for an Optiq V-Series or a Blazer EV SS. Both would be priced in the $70k+ range. I'm normally not a fan of leasing, but the lease on the EQEV was just too good to pass up. Not sure I'd be ready to spend $70k+ on a purchase. So I also considered maybe turn the EQEV in and buy an EQEV that's coming off lease. As with the Model Y I'd be looking at $27 - 30k. So I started poking around to see what other off-lease EVs would cost me.

I could get a 2023 Model S Plaid for about $60k. Porsche Taycan is all over the place because there's so many different trims and configurations. Lucid Air GT was trending in the low $60k range for low mile cars, so I figured I'd look again when it was close to EQEV turn-in time. Then the one I bought popped up outta nowhere at about $5k under market price. I know enough about the car to know that it sits at or near the top of the segment in just about every metric and figured, "WTH? Let's do this".

[Realist]

James, Did you buy an extended warranty on the Lucid?

Interior looks sweet, not a fan of the exterior myself but I’m not driving it.

I look at used EV prices, maybe someday if didn’t travel near as much and know I will be able to plug in near daily at home.

[Martinjlm]

Originally Posted by Realist

James, Did you buy an extended warranty on the Lucid?

Interior looks sweet, not a fan of the exterior myself but I’m not driving it.

I look at used EV prices, maybe someday if didn’t travel near as much and know I will be able to plug in near daily at home.

No. I almost NEVER buy an extended warranty. I have a year left on bumper to bumper. The battery and motors still have 5 years left on them. If I set aside the price they wanted for the extended warranty in an investment account I would most likely be able to handle any other "occurrence" out of pocket. I'm good.

The exterior grew on me over time. Lucid's regional offices are two floors below the office where I worked until I retired in November. Got used to seeing Air and Gravity in the parking deck every day.