So I absolutely love the Ocean. But want to ask the group if you have any concerns or reservations when it comes to pulling the trigger to purchase. Not really asking about the unknowns with standard equipment versus options and optional pricing. Asking more about confidence in the ability of Fisker, Inc to deliver what they promise and remain financially secure.
Concerns with purchasing Fisker Ocean
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I too love the Ocean so far. I'm a Fisker newbie but have been doing alot of reading and research in the last few months. I'm generally a careful person who does in depth research and wants proven success before a big purchase like this. I have never spent close to this amount of money on a vehicle before.
Fisker does need to prove himself based on his history. He has been meeting his targets since he announced the November 2022 production date. By the time my number comes up mid next year, I should have a pretty good idea of the vehicle quality, service and care program, ability to meet targets, and company fiscal health. Of course I would not know how Fisker performs long term but if I'm comfortable at the time of purchase I will not be worrying about the future.
Sure ToddH65, I have concerns just like you and Langer have stated above. At this point in time it's a huge "leap of faith," and many things need to be finalized when it comes to the Fisker Ocean vehicle. I too really like the Ocean when I compare it to other BEVs that I currently know about in this category. Others are going to be unveiled as the year goes on and we'll have to evaluate how they stack up against the Ocean. Personally, I don't have to do anything about purchasing a new car anytime soon. I've just gotten interested in BEVs over the last year and decided that I'd like to have one before I get so old that I can't drive it a while and enjoy owning a "Green Vehicle." My "faith" in Henrik Fisker and his company is pretty good right now. By the time we have to make that final decision later this year, we will have much, much more information that has flowed into our decision making process. Should I "lose the faith" somewhere along the way to order placement, for me it will have been a big waste of time and a $25 cancellation fee. If you hang in there all the way through order placement and confirmation, then I suppose we will have to live with our decision to go all the way to the finish. That's where I'm hoping to end up... in possession of a great EV that I'm proud to own and enjoy driving. All in for now!
@ToddH65 @Langer
Henrik Fisker has been through the "Hard Knocks" School.
1) SPAC financing deal (Get the financing first)
Fisker went public through a merger with a blank-check company backed by alternative investment manager Apollo Global Management Inc at a valuation of $2.9 billion.
www.reuters.com
2) Battery Supply is #2 most important aspect
Fisker Inc secures 5 GWh of CATL batteries
( his first venture with A123 went bankrupt)
insideevs.com
3. Automobile Manufacturer
Fisker Inc gets third largest World Auto Manufacturer to built best-quality vehicles
(Magna International even buys 6% of Fisker Inc)
electrek.co
Summary: He's got all the bases covered!
The next most important step is to catch the consumer eyeballs
(Fisker Experience Centres World-wide: 6 now planned for USA & EU)
Henrik Fisker has been through the "Hard Knocks" School.
1) SPAC financing deal (Get the financing first)
Fisker went public through a merger with a blank-check company backed by alternative investment manager Apollo Global Management Inc at a valuation of $2.9 billion.
Electric car maker Fisker to go public through SPAC deal at $2.9 billion valuation
Electric car maker Fisker will go public through a merger with a blank-check company backed by alternative investment manager Apollo Global Management Inc at a valuation of $2.9 billion, the companies said on Monday.
www.reuters.com
2) Battery Supply is #2 most important aspect
Fisker Inc secures 5 GWh of CATL batteries
( his first venture with A123 went bankrupt)
Fisker Announces 5 GWh/Year Battery Deal With CATL
Fisker announced that batteries for the upcoming Fisker Ocean will be supplied by CATL at a volume of over 5 GWh annually over multiple years.
insideevs.com
3. Automobile Manufacturer
Fisker Inc gets third largest World Auto Manufacturer to built best-quality vehicles
(Magna International even buys 6% of Fisker Inc)
Fisker and Magna sign long-term agreement, including production of Ocean SUV in fall 2022
Fisker and Magna International Inc. have finalized a long-term manufacturing agreement, including the electric Ocean SUV in November 2022.
Summary: He's got all the bases covered!
The next most important step is to catch the consumer eyeballs
(Fisker Experience Centres World-wide: 6 now planned for USA & EU)
I have some of the same reservations, even though so far the Ocean is my EV of choice. I agree that having the cars built by Magna-Steyr puts a lot of my fears to rest. But, there will inevitably be some issues with a brand new car from a brand new company and getting service has me a little concerned. These days I normally buy cars because I plan to keep them for a long time. However, I might consider the flexee lease to have the peace of mind of knowing that I can return the car at any time if the overall ownership experience is a letdown. Then again if it all goes well and I love the car and want to keep it, I don’t think there‘s an option to buy the car outright if it’s in a lease. So then I’d have to order another one if I wanted to buy. So, then I’m back to just taking the leap (assuming the car pans out when it’s put through its paces by the automotive press). Worst case, I can always sell it/trade it and get something else.
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So I'm also always very careful about things like this. However there are some things which can help mitigate the concerns. Fisker promises to have experience centers opening in the first couple of quarters of the year. I believe Los Angeles is first to bat on this in Q1. We are already in March so if all holds true we should have an announcement on L.A. within in the next month. I believe Miami or New York will be next and for us on the East coast, that would be best. So visiting one of these locations should allow us to get a more tangible feeling about how things are progressing. Hopefully Test drives are available. (Maybe wishful thinking). I realize it's a pain to fly out to one of these spots if you don't live in these cities. But I plan to make a mini weekend vacation of this with the family. If we are going to spend substantial money on this car then I think it's worth it. Secondly, I like a person who's failed before (Karma) because it makes them that much better when they attempt it again. He's also learned from all the headaches Tesla has had with production issues. He's not trying to build production factories from scratch. He's just hiring production experts like Magna that have a proven record of delivering with some of the legacy OEM's. From now till November many select car channels will get cars to test and they can provide reviews. Some are just fluff reviews but others will really pick apart the car balancing the good with the bad. So I'm willing to navigate all these things. I just went through something like this with the EV6 which I purchased on Friday night for my wife. While KIA is not new to the business the EV6 is a brand new platform built from scratch. The first of anything is always tricky. If November comes around and I have reservations about moving forward with the Ocean, I have no problem waiting till 2023 for others to assert if the car is worth the purchase or not. For those who follow football...I have a Bill Belichick feeling about Henrik. Belichick failed his first time out with the Cleveland Browns. Then came back and became a dynasty coach with the Patriots. Why? well he was able to align himself with a great partner (Brady) but he also implemented many things which corrected the things he failed with in Cleveland. I think Magna will be Henrik's Brady. I'm not a Patriots fan in any way. But I just think this is how things might go with the Ocean. He's on time so far, not raising prices and we are getting more updates more frequently. So while I'm not calling the Ocean a winner at this point I just feel it has a great shot.
Congrats, I saw your EV6 finally came in and it sounds like you had a great purchase experience. I hope your wife enjoys! And I think we will definitely be making a trip to Miami later this year. And I do hope we are able to test drive. From what I have read that is the plan but it may be to soon to expect that to be available when they first open.
@EvolOcean
Every Fisker Ocean reservation holder will have the choice to lease or buy.
However, Fisker Inc would prefer you lease (for around 3 yrs) & return
This is not true.
Every Fisker Ocean reservation holder will have the choice to lease or buy.
However, Fisker Inc would prefer you lease (for around 3 yrs) & return
Thanks to everyone that has responded so far. I am sensing a few common themes that I agree with. So far, Fisker is hitting all the dates so far. Even given all the issues in the automotive industry. Also, Henrik learned from his first attempt. I have no doubt that Magna and Fisker are going to produce a great car. Now just have to take in all that we can between now and November. I can't wait to visit one of the Experience Centers later this year. And cross our fingers we get to see and drive.
I could be wrong about this; but, it's my understanding that your options on the Ocean are either an outright purchase, or, a Flexee Lease with NO OPTION TO PURCHASE at any time during the lease, no matter if you keep it a month or to a maximum of 12 years?
This is in the official Fisker FAQ:
"Can I buy my Fisker Ocean at the end of my Fisker Flexee Lease?
Fisker’s Flexee Lease does not have a fixed contract period. You can return your vehicle at any time, but the monthly usage fee you already paid will not be prorated. Currently, we do not offer a purchase option at any point during your lease."
I note the word "currently." My guess is they are still figuring it out. I don't know why they wouldn't offer the purchase option if it is higher than depreciation.
My impression is that Fisker would rather you do the Flexee Lease than an outright purchase because they plan on spiffing up "lease" vehicle turn-ins and re-leasing them for up to 12 years. These multiple lease opportunities would generate quite a long-term revenue stream for Fisker over a 12 year period of time. Re-leased vehicles can also be updated/graded with new options (at additional cost) in accordance to the new leasee's desires. Another revenue enhancer for Fisker. Pretty smart I'd say if people really go for that type of setup. So, over time, a "subscription" (Flexee Lease) Fisker vehicle would/could generate lots more revenue for the company than a purchased one. It wouldn't surprise me to see more EV auto makers adopt this type of Lease/Subscription arrangement on their vehicles...especially if the Flexee Lease option catches on for Fisker!
And yes, that word "currently" makes you wonder if they might not be keeping their options open about "not offering a purchase option at any point during your lease." Will be interesting to see how all this pans out in the end later this year. Stay turned!
It seems we are hijacking this thread and so I apologize.
I suppose it wouldn't make sense to lease the Ocean for more than a few years since your lease payment will not be prorated per the wording above. If you return it and lease a used one you would get a reduced lease payment and would likely spend extra to get some upgrades. Or you could afford to lease a higher trim on a used one. Seems like win win to me. If you are going to lease anywhere close to 8 years it then makes more sense to buy it. It takes just over 8 years for the lease payments to equal the purchase price (37,500/379/12). That does not take into account the residual value of the vehicle at 8 years though.
I also wondered why they would not offer a buyout price if you decided at any time to purchase while on a lease.
Instead to buy the car than you run already for 4 years why not to buy or lease a brand new?
Now Fisker Land Lovers,
Did you know that most US consumers now Purchase vs Lease their new vehicles
It's approximately 75% Buyers versus 25% Lessors
www.statista.com
Secondly, very interesting statistics about American & Canadians driving habits:
The average American driver accumulates 13,500 miles per year (21,600 km)
The average Canadian driver reaches only 10,000 miles per year (16,000 km)
Bottom Line: Fisker Ocean users will have to decide on the merits of leasing vs buying
The 30,000 annual mileage ceiling will favour Leasing
I've always bought but the FLEXEE Lease looks VERY attractive!
Did you know that most US consumers now Purchase vs Lease their new vehicles
It's approximately 75% Buyers versus 25% Lessors
Share of new cars financed in the U.S. 2021 | Statista
The share of new vehicles with financing in the United States decreased overall from the first quarter of 2017 to the first quarter of 2021, despite some fluctuations.
www.statista.com
Secondly, very interesting statistics about American & Canadians driving habits:
The average American driver accumulates 13,500 miles per year (21,600 km)
The average Canadian driver reaches only 10,000 miles per year (16,000 km)
Bottom Line: Fisker Ocean users will have to decide on the merits of leasing vs buying
The 30,000 annual mileage ceiling will favour Leasing
I've always bought but the FLEXEE Lease looks VERY attractive!
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