2023-06-11 11:00:00
The Hyundai IONIQ 5. A car that has won numerous awards and accolades, that is being snapped up at dealerships and whose waiting lists are constantly growing. Some merchants talk regarding a two or three year wait, while others just don’t want to waste time listing names anymore. If some motorists have been very lucky in obtaining their unit quickly, others will have to wait until they forget it. This is the reality facing this mid-range electric car, offering interesting autonomy in a practical format. The right formula, what!
A few weeks ago, a motorist had the chance to finally take possession of his. Just as he ordered it over 18 months ago. Happy to get rid of his Jeep Cherokee, he was going to be able to realize his dream of driving electric at the wheel of a car which, he said, fascinated him to the highest degree. Not being a car lover, he mightn’t even imagine that buying a car might give him such a feeling.
Sadly, just eight days later, a truck rammed his IONIQ 5, which was parked on the street, and crashed into a sign post. Quickly, the insurer declared the car a total loss, although the damage was only slightly over $30,000 (for a $58,000 car). And for good reason, the impossibility of repairing certain elements, combined with the unavailability of several parts, would lead to delays and therefore additional rental vehicle and fuel compensation costs.
After many discussions with the damage appraiser, the owner of the IONIQ 5 was unfortunately going to be disappointed regarding his electric car. A car too often irreparable, according to the insurance appraiser, like several electric vehicles, and which moreover is almost irreplaceable considering the delivery times and the excessive demand compared to the supply.
Having subscribed to a “new value” on his insurance policy, the customer nevertheless expected that the insurer might easily give him access to a new IONIQ 5. Because, following having waited 18 months, the idea to start once more at the bottom of a list now longer than ever did not please him at all. However, the role of the insurer being to indemnify, the latter in fact adapts very little to the situation. Not able to fix? No problem, we declare the vehicle as a total loss and issue a check for its value! It will therefore be up to the customer to organize himself to find his replacement vehicle.
Obviously, needless to say that following only eight days of ownership, the insured received compensation equivalent to the value of the car in new condition, and not its market value. A nuance that must be considered, because the used 2022-2023 Hyundai IONIQ 5s, equivalent to his, are currently selling for between $58,000 and $62,000. Essentially, a little more expensive than the price of a new one, with the significant nuance of the loss of government credits totaling $12,000, taxes included. Clearly, if you choose to purchase a used model today, you will pay between $10,000 and $14,000 more (before taxes) than if you wait to receive a new one, which will be eligible for credits.
Small consolation, our poor motorist does not have to reimburse the government credits applicable to the purchase of the IONIQ 5, the Roulez vert program of the Government of Quebec as well as the Incentives program for zero emission vehicles of the Government of Canada requiring only proof of loss in order not to claim the sums granted. I was also perplexed by this assertion, which I chose to verify in my turn and which turns out to be completely true.
In the end, our motorist will therefore have pocketed the equivalent of government credits for having driven an IONIQ 5 2023 for eight days. keep an eye out for the rare second-hand models and pay extra for a car with a few thousand miles that wouldn’t cost him, in the end, really much more.
Obviously, this whole situation illustrates to what extent the automobile market is currently precarious, and brings into play the whole “environmental” aspect of a car that is difficult to repair, especially in the context of a shortage of parts and replacement. Because between you and me, there is nothing ecological regarding scrapping a car whose damage estimate is around 55% of its value…
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#months #waiting #ride.. #week
