GAP doesn’t pay out any cash to the lessee. It only pays the bank/lienholder if you’re underwater.
Update on my accident: Looks like my insurance company approved repairs for about 50k. It’s being towed to Porsche dealer near me to deactivate the battery prior to starting the repairs. What I find very strange is that my insurance company will not pay the 350 bucks to run diagnostics on the HV battery. And according to the service advisor they don’t run the diags until after they repair it. It’s very weird and makes no sense especially since my car won’t power on and it immediately shows “Electric Service” error. I get this may have been a protective mechanism but it it should at least be looked into. I’m thinking about paying the 350 out of pocket. Anyone experience anything similar?
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So repairs are authorized but body shop told me there are some parts are in back order with no ETA. What a shit-show. It’s a 12 week repair(so they say) when they get the parts.
So like what’s the point in all of this given you can’t drive your lease?
I’m not sure I understand the question. If you’re saying I’m basically paying for a lease for a car I can’t drive, then yes. It will be like this for the next few months I suppose. They are paying for a Lucid until I get the car back so I guess that’s something.
I mean you said the parts are back ordered and ONCE they have the parts it’s 12 weeks. You got the car in July? 5 months into your 24 month purchase… that’s 19 months. Plus 2.74 months for repair… 16 or less. And then you have a car that the battery might explode. IDK. Seems like a lot of effort on your part?
Update: Almost 6 weeks and repairs have been authorized(52k) but not started. The structural parts are on back order from Germany with no ETA. With the holidays here and Europeans likely having a lot of time off, parts realistically may not arrive until January and it’ll then be a 10-12 week job. On the plus side, I confirmed with PFS again that any amount they are paid above the payoff would come back to me were it declared a total loss.
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Update:
All the bodywork was finished and car went back to Porsche for reactivation and lo and behold the Pyrofuses are blown. Guess what? They are attached to the HV battery so the whole thing needs replacing. 60-70k project at least. I’m assuming they’re gonna total it at this point but who knows. Rep at body shop said if battery is repaired they will have paid about 120k in repairs. Insane.
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What a f’ing cluster…I’ll see you over on the Taycan Forum. If they do total it, it will be interesting to see how the 1-pay works out with PFS. Still in the Lucid loaner?
Iv confirmed with Porsche twice that I’ll receive any sum over my lease payoff.
o traded the Lucid for an R1S. Couldn’t deal with having only a key card.
Truly a cluster F
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The drama continues. Porsche is recommending the HV battery be replaced but insurance company is being offered a cheaper option of replacing the E-box for 11k in hopes that this fixes it, though there is no guarantee. Interestingly, I had asked for a PIWIS report from dealer(who questioned why I wanted it) before repairs started and was told there were no issue with the battery. Lo and behold after they reactivated the battery they realized the faults with the Pyrofuse. The insurance company is as confused as I am. So at this point they’re gonna be about 60k into this with potentially another 70k if this fix doesn’t work.
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Surprise surprise! The 11k patch in didn’t work. Battery still throwing faults. Will most likely need HV battery replaced at 65-70k which means they potentially will have paid 130k. Wild stuff. I may take the initial HV diagnostic report from November to an independent dealer to see if the codes it threw Shoukd have triggered a more careful inspection of the battery at that time.
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How is this not declared a total loss yet?
No clue. Guess the insurance company considers the repairs they’ve done so fa sunk costs? They are 60k into repairs so far.
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So remove the insurance funds from this magical journey, and lets play pretend where the regular Joe has to foot these expenses lol. I want to hear from the pitchforks again on how sustainable & realistic these EV’s are to own longer term.
Hopefully everything works out for you. The Taycan is also a great car for the record, but holy man. The money being devoured here.
Did you get a loaner from dealership or the insurance covers an equivalent rental from Sixt?
No loaner, but I’m in a Rivian R1s covered by insurance.
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Battery is covered under warranty for 8 years. To sustain this type of damage, you’d need to be involved in a pretty bad accident so I can’t really see a scenario where someone would be paying for this out of pocket.
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I’m sure many of us would’ve said the same for the scenario that you’re currently facing.