If leasing is not available, would you cancel your Gravity order?

[037]

If leasing is not available, would you cancel your Gravity order?

 

[DBV]

Yes - most definitely will cancel and if not similar to Air Grand Touring leases. Nick Twork said on X Jan 1 there would be lease offers are in the works shortly. Not sure what shortly means though, since that was two months ago.

 

[gladtbx]

Yes - most definitely will cancel and if not similar to Air Grand Touring leases. Nick Twork said on X Jan 1 there would be lease offers are in the works shortly. Not sure what shortly means though, since that was two months ago.

The theory of relativity, the faster you travel, the slower time passes for you.
Lucid's speed is so fast that their 2 weeks translates to 2 months of earth time. Don't worry they should have something in two weeks (two months earth time).

 

[dragonwang]

Unfortunately, the wait is just too long for the Gravity GT so we had to cancel our reservation. We replaced the Model X with Audi Q6 Etron Premium Plus package and so far so good. The interior and technology are both very nice. It's a 2-year lease, so hopefully by then, the bugs are ironed out and either the GT or Touring models will have attractive lease deals.

 

[bryway]

If leasing is not available, would you cancel your Gravity order?

Absolutely not.

 

[Sid432]

I was reading Reddit on a buyer remorse pursuing a buy back for Audi Q8 e-tron. The reason is the dealer advertised EPA 300 miles @ 100 SOC but the buyer is getting 170 miles.

I guess I’m happy if GT would yield 300-325 miles @ 80%SOC. Plus, nice and sleek looking beautiful car with 7 full size adults. It’s a win win. For me, it’s worth the wait.

 

[illopp00]

I am not clear how they would achieve their delivery target without both leasing and Touring Gravity trims available....

 

[Blue Lectroid]

They would be insane not to offer leasing as long as the $7500 credit is still available…

 

[HC_79]

They would be insane not to offer leasing as long as the $7500 credit is still available…

That credit is a ticking time bomb and the longer Lucid drags its feet getting cars delivered the less time people will have the opportunity to access the credit and possibly forced to go with another brand. It’s no doubt helped move the Air leasing along.

 

[Blue Lectroid]

That credit is a ticking time bomb and the longer Lucid drags its feet getting cars delivered the less time people will have the opportunity to access the credit and possibly forced to go with another brand. It’s no doubt helped move the Air leasing along.

Yup. There is a reason for a CEO search...

 

[msaunders9430]

I've searched the forum for an answer to my question, but haven't found one.
Also checked to make sure I hadn't already asked it. I know me.

In the event of my death, I do not want my wife or my estate to be responsible for fulfilling a lease agreement.
If I lease a Gravity and pass away during the lease term, I'm thinking the balance due on the lease agreement becomes the responsiblity of my estate (i.e. my wife or my designated estate administrator if my wife has also passed).

My credit union offers credit insurance on car loans.
The insurance covers any loan balance in the event of my death.
No liability to my wife or estate.

I don't see where BoA offers such credit insurance for a financed car, so I'm guessing the same is true for a lease agreement.
Anyone know for certain?
Does BoA reclaim a leased car upon the death of the leasee?

 

[037]

I've searched the forum for an answer to my question, but haven't found one.
Also checked to make sure I hadn't already asked it. I know me.

In the event of my death, I do not want my wife or my estate to be responsible for fulfilling a lease agreement.
If I lease a Gravity and pass away during the lease term, I'm thinking the balance due on the lease agreement becomes the responsiblity of my estate (i.e. my wife or my designated estate administrator if my wife has also passed).

My credit union offers credit insurance on car loans.
The insurance covers any loan balance in the event of my death.
No liability to my wife or estate.

I don't see where BoA offers such credit insurance for a financed car, so I'm guessing the same is true for a lease agreement.
Anyone know for certain?
Does BoA reclaim a leased car upon the death of the leasee?

Those are some dark thoughts…maybe share them with BoA?

 

[msaunders9430]

Those are some dark thoughts…maybe share them with BoA?

No dark thoughts, but my time here (not this forum ) is beyond my control.
My wife has no interest in my Gravity even though she'll be riding in it.
Just don't want payments for her.

 

[msaunders9430]

No dark thoughts, but my time here (not this forum ) is beyond my control.
My wife has no interest in my Gravity even though she'll be riding in it.
Just don't want payments for her.

Am I the only mortal on this forum?
That would explain alot of the responses here.

 

[Unmutual]

Just buy a cheap term life policy if you're worried about it.

 

[msaunders9430]

The reason for my "death" question is because, as I see the poll results and converse with members about leasing, my interest is piqued.

I used an AGT as the model of what a Gravity lease might look like.
I have to be missing something in the numbers below.

I'm not sure how to account for the$5k Air Credit that would not exist with a Gravity.
Is my Total Paid number correct?

 

[Blue Lectroid]

Yes, that looks right. Of course what no one knows is what finance rates and residual rates B of A will put on Gravity…

 

[msaunders9430]

Just buy a cheap term life policy if you're worried about it.

That's a thought.
I'll look into it.
Thanks.

 

[msaunders9430]

Yes, that looks right. Of course what no one knows is what finance rates and residual rates B of A will put on Gravity…

I'm still learning this leasing stuff and I figured I'd ask here rather than take up my sale advisor's time on hypotheticals while she is trying to earn a living.
Now if a member sends me a bill, I'll stop asking.

I used a residual value (rv) of 55% in my calculations.
That has to be too low.
The initial amount paid at signing ($14,863) along with the payments ($35,676) over the lease term equal 41.46% of the MSRP ($121,900).
With 41.46% of MSRP paid up front and 55% of MSRP is paid for buyout, no way BoA is selling are car for 96.46% of MSRP.
The rv would have to be at least 58.54% (100 - 41.46), correct? Then the total paid would be the exact MSRP.

I'm seeing pre-owned '23 ATs selling at 60% of original MSRP, so maybe 55% rv isn't unreasonable.

With leasing (3 yrs), you're basically paying for the first three years of depreciation, correct?
For lower lease payments, the leasor could lower the 3 year depreciation and make up for it with a higher rv or vice-versa (high payments, low rv)?
I'm thinking they do the former (low pay/high rv) and pass the high rv on to a prospective buyer if the leasee doesn't want to buy?

 

[037]

I'm still learning this leasing stuff and I figured I'd ask here rather than take up my sale advisor's time on hypotheticals while she is trying to earn a living.
Now if a member sends me a bill, I'll stop asking.

I used a residual value (rv) of 55% in my calculations.
That has to be too low.
The initial amount paid at signing ($14,863) along with the payments ($35,676) over the lease term equal 41.46% of the MSRP ($121,900).
With 41.46% of MSRP paid up front and 55% of MSRP is paid for buyout, no way BoA is selling are car for 96.46% of MSRP.
The rv would have to be at least 58.54% (100 - 41.46), correct? Then the total paid would be the exact MSRP.

I'm seeing pre-owned '23 ATs selling at 60% of original MSRP, so maybe 55% rv isn't unreasonable.

With leasing (3 yrs), you're basically paying for the first three years of depreciation, correct?
For lower lease payments, the leasor could lower the 3 year depreciation and make up for it with a higher rv or vice-versa (high payments, low rv)?
I'm thinking they do the former (low pay/high rv) and pass the high rv on to a prospective buyer if the leasee doesn't want to buy?

With EVs the biggest hit is usually the incentives provided by the same company who sold you the vehicle, and while leases can try and guesstimate the damage done after 3 years, anyone purchasing a vehicle is on the hook for an unknown loss, the shorter the term the bigger the loss.

Which is why the chart is currently 70/30 to abandon deal if no leasing is available, it’s a huge gamble for short term buyers. Doesn’t help that company existence isn’t guaranteed.