Lucid Finance's Current Money Factor (Air)

[Brystal42]

In any case, I appreciate you bringing up the topic to begin with and apologize for steering astray of that. As you already said, the point is the interest on the 18 month lease is higher than market, making those lease terms particularly unfavorable. It appears the 36 month terms carry the equivalent of closer to 4% interest, which is fairly good.

I'm seriously considering an Air to replace my maturing Audi lease. I'd prefer to go with a shorter term for the lease, like 18 or 24 months, but with the 36 month term being so much more favorable, I'd likely just go with the longer term. Since you're on your second Lucid lease, I imagine you'd agree it's a fine decision! : )

 

[JoshG]

In any case, I appreciate you bringing up the topic to begin with and apologize for steering astray of that. As you already said, the point is the interest on the 18 month lease is higher than market, making those lease terms particularly unfavorable. It appears the 36 month terms carry the equivalent of closer to 4% interest, which is fairly good.

I'm seriously considering an Air to replace my maturing Audi lease. I'd prefer to go with a shorter term for the lease, like 18 or 24 months, but with the 36 month term being so much more favorable, I'd likely just go with the longer term. Since you're on your second Lucid lease, I imagine you'd agree it's a fine decision! : )

Yes, I have plenty of complaints about things in the Air that are lacking or missing, but overall I don't find anything better out there for the money. It's unquestionably a great overall package and really excellent driving experience.

I remain interested in the gravity, but have learned my lesson about buying a vehicle in the early runs of a new model, so decided another short air lease was my best option for now. Maybe a Gravity (or refreshed Air) will be right for me after this lease is up.

 

[ADC]

Interesting! My SA was also cagey about the MF when I asked during the signing of the documents, however, I was able to calculate it myself and it came to 0.00230 (5.52%) for a 36 month lease on a 2025 Air Pure, and an 800+ credit score. This was at the West Palm Lucid location 3 weeks ago. My previous car was a 2022 Lexus ES350, also leased, and the MF was disclosed without any questions…

 

[JoshG]

Interesting! My SA was also cagey about the MF when I asked during the signing of the documents, however, I was able to calculate it myself and it came to 0.00230 (5.52%) for a 36 month lease on a 2025 Air Pure, and an 800+ credit score. This was at the West Palm Lucid location 3 weeks ago. My previous car was a 2022 Lexus ES350, also leased, and the MF was disclosed without any questions…

yep, consistent with what I've seen. Lucid needs to set this as policy from the top, and direct BofA to follow it to - the money factor should not be a secret, and should be disclosed immediately upon anyone asking, whether or not they have an order in or are just considering one, just like every other automaker seems to do. Financing terms are critical and should be available for anyone who wants to use that info to compare their options.

 

[tonybot]

It is possible to know the base money factor for traditional manufacturers. Back in the day, you asked in the Edmunds forum about it with your zip code, and an admin gave it to you. Nowadays, you can subscribe to a lease hacker rate finder with up-to-date data specific to make, model, trim, and terms. Rate finder does not have Rivian, Lucid, or Tesla. I recently leased a 2025 BMW iX.. I negotiated based on the base rate as the dealership was inflating it. Also, in many cases, you can put refundable MSDs(not down payment but security deposits) and reduce the MF further. My effective APR for the iX was .22% and over the 3 years, the rent charge is only $400. Knowing what BMW finance was offering the dealers enabled me to make sure I got the best possible offer.

 

[DS9]

It is possible to know the base money factor for traditional manufacturers. Back in the day, you asked in the Edmunds forum about it with your zip code, and an admin gave it to you. Nowadays, you can subscribe to a lease hacker rate finder with up-to-date data specific to make, model, trim, and terms. Rate finder does not have Rivian, Lucid, or Tesla. I recently leased a 2025 BMW iX.. I negotiated based on the base rate as the dealership was inflating it. Also, in many cases, you can put refundable MSDs(not down payment but security deposits) and reduce the MF further. My effective APR for the iX was .22% and over the 3 years, the rent charge is only $400. Knowing what BMW finance was offering the dealers enabled me to make sure I got the best possible offer.

You can still ask the Edmunds forum for MF and incentives. Last October I checked the IX forums before going through a broker to get my wife her IX.

 

[tonybot]

You can still ask the Edmunds forum for MF and incentives. Last October I checked the IX forums before going through a broker to get my wife her IX.

Awesome. I was considering a broker but was able to negotiate a deal that what better than what they were advertising. But I will surely consider using a broker. Much easier that way!

 

[DS9]

Awesome. I was considering a broker but was able to negotiate a deal that what better than what they were advertising. But I will surely consider using a broker. Much easier that way!

In Charlotte the same dealer groups owns both BMW dealership so they have no incentive to give good deals. My wife did 2 test drives at the local dealership but they didn't seem interested in dealing much. I called the GSM and let him know the deal the broker offered and he basically said we couldn't get that deal with them. So we went with the broker - easiest dealership transaction ever.

 

[micaeljames]

I'm on my second Lucid lease, and for reasons I can't understand, Lucid and Lucid Finance do everything they can to not disclose the lease Money Factor. They seem to give you the runaround when you ask what it is. Money Factor should not be a secret... it would be like a mortgage company not telling you what your interest rate is on the mortgage, instead just telling you to focus on your monthly payment and the value of the house.

Even more surprising, when you get the finalized lease documents, ready to sign, there still is no Money Factor shown, nor the equivalent interest rate, which I've never seen before. You have to calculate it yourself. I'm surprised that they're allowed to leave that off of the disclosure documents.

Anyway, literally hours before my Air delivery and before signing the lease documents, my SA finally got approval to tell me the money factor in my lease.

As of today's date, for an 2025 Air Touring, and on a 18-month lease, Lucid's "base MF" is a whopping 0.00436 which equates to a 10.46% APR, though that is for customers with the lowest acceptable credit rating. Nevertheless, a very high rate.

If your credit rating is high, the rate comes down some. I'm in the highest credit rating category (800+), so my "customer money factor" (as Lucid refers to it) became 0.00332, which is still very high for a high-rating customer (7.97% APR). You might also want to contact Acima to see if they offer any alternative leasing or financing options. For comparison, my wife just leased a BMW i4 and they happily disclosed the MF upfront and it was 0.00121 or 2.9%.

That's the interest rate you're paying on the full depreciation amount of the car... the difference between the value of the car if purchased for cash (after all incentives and discounts and "upfront" capital reduction downpayment) and the residual value you can buy it for at the end of the lease. Lower MF = lower monthly payment, though of course residual is the other factor. Higher residuals = lower monthly payment.

Note that Lucid's MF may be different for different lease terms and might be different still for Gravity.

Lucid’s lease process can be frustrating because they don’t disclose the Money Factor upfront. For your 2025 Air Touring 18-month lease, the base MF is 0.00436 (10.46% APR), and with a top-tier credit score, your MF is 0.00332 (7.97% APR), which is still high compared to other luxury EVs like the BMW i4 at 0.00121 (2.9% APR). The MF directly affects your monthly payment along with the residual value, so it’s important to know it before signing. Even with high residuals, Lucid’s MF makes their leases more expensive than typical EV leases.