I've purchased two "like new" used vehicles. Both were single-owner Ford trucks with clean histories, low mileage and good values. I felt lucky.
Need Help with Lease Anxiety
- Thread starter bcjenkins
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Getting what I really want--a vehicle with DDP--is where I think I'm at after sleeping on it and reviewing everything that's been said in this therapy session.
Since I'm getting the AGT, road tripping is implied. I appreciate the ProPilot in my wife's 2020 Nissan LEAF, which makes longer trips less tiring. Lucid's DDP takes ProPilot to the next level. Although it was engaged for about 10 minutes during my test drive, the test confirmed that my total cost of ownership should include that feature.Thanks for commenting on your DDP experience.
And you can still have issues with new car. But you are more likely to have issues with a used car than a new one.
Someone I know drove over a divider at night on the rain. Rear axel bent. The dealership fixed it under insurance. But he was sure something was off while driving the car. Though on checking, mechanic said everything was fine. He got rid of the car. You never know with used cars. That is a risk I’m never going to take however small it might be.
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Yes because people who have bought brand new Lucid's obviously have avoided this so well when it comes to bad apples...
I'd rather pay 50% off for a bad apple that can be fixed than new price...You have to do whatever makes you comfortable. And for you that sounds like always buying new. There's absolutely nothing wrong with that. Just because something doesn't make sense too me doesn't mean it's the wrong decision for you. I will provide you some additional insight into my thought process around buying used vehicles. It's a strategy I've now used over multiple decades.
Over the past 20 years I've purchased about 10 used cars (we're a 2-3 car household). I typically buy cars that are 2 to 3 years old and keep them for another 4 to 5 years or until they reach about 75K miles. That's long enough for a car to still have some resale value while avoiding significant repair costs. By buying used, on average, I've saved about 45% off the original MSRP. I always pay cash so I have no interest carrying costs. I'd conservatively put the savings at about $35K per vehicle or roughly $350K in total. The money that I save is invested in the stock market (S&P 500). Over a 20 year period the market has returned 10% annually. So that $350K saved is worth north of $2M.
I've been fortunate that I've never bought a car with hidden issues or damage. I do as much due diligence as possible to minimize that likelihood. But I acknowledge it's always a possibility. But I'm conservatively $2M (and growing) ahead. If I end up buying a dud in the future I can more than cover the financial hit and still be comfortable in my approach.
Whatever works! But there are big advantages buying new. My car had a few minor issues the first year but now flawless. And I still have 6 more months warranty.Yes because people who have bought brand new Lucid's obviously have avoided this so well when it comes to bad apples...
Either one has its pros and cons.
I told you why I don’t buy used, no need to say all new Lucid cars are bad apples, because that is blatantly false!
And when you fix it, you pay out of pocket? You don’t know what fixes it needs. The buffer with a new car is longer.
Fabulous site. Thank you, @Northpointe!
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The original question was about buying vs leasing. I chose to lease with an intent to buy at the end of the lease. One year in, I believe my original plan is still on as I love the driving experience. I have had very little problem with it and this is one of best cars on the road. My money factor was very low for the Lucid lease and leasing with a plan to buy should not have much of the financial penalty for me compared to buying straight on day 1. And with lease, I was able to get additional incentives which were not available for purchase back in 2025. And lastly, leasing gives me an option to walk away IF there is a major issue with the car between now and the end of the lease.
I don't know what leasing terms are being offered today vs buying outright. A simple spreadsheet math will help you make the right decision.
I don't know what leasing terms are being offered today vs buying outright. A simple spreadsheet math will help you make the right decision.
For the 2026 AGT, there's a $15K credit available for lease or $5K credit for cash.
For 2027 AGT, no credits period (as of today, anyway).
Just a moment ago, a 2027 showed up in the inventory with all my specs as "Available In 4 Weeks."
Going into a lease with ALL the options I desire probably make the most sense. As you noted, if I'm still in love after 3Y, I can buy out the lease.
The main reason I leased is the incentives. Past deals have been so good that it was better to lease than pay cash. The contract for the lease should give you the purchase price for the vehicle at the end of the lease. If you like the car and want to keep it, you can always buy it for that price at the end of the lease.
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I view leasing not as a finance cost, but rather as insurance against corporate problems due to Lucid not yet being financially stable, or perhaps their inability to support the Gravity to my liking. Normally I buy new cars and keep them for many years, but this will be my first purchase from a company that isn't a well established manufacturer.
However, If there were 2 or 3 year old Gravities coming off lease with low mileage, I'd probably buy one of those instead. I've looked at Lucid's inventory of used Airs, and there are a lot of very deeply discounted vehicles with low mileage, but I'm not looking for a sedan right now.
However, If there were 2 or 3 year old Gravities coming off lease with low mileage, I'd probably buy one of those instead. I've looked at Lucid's inventory of used Airs, and there are a lot of very deeply discounted vehicles with low mileage, but I'm not looking for a sedan right now.
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They didn’t say that. Please don’t mischaracterize people’s arguments, lest they begin to mischaracterize yours.
New member here. My 2 cents (flame at will) Just leased an 2026 AT with 20K of incentives & credits. I think a fantiastic deal. Coming off a 2020 Taycan 4S that I stupidly piurchased.
Although the Taycan has been flawless for 6.5 years & 77,000 miles, I am out of warranty & it is time to move on. IMHO, The car is not worth more than 34K. Massive depreciation.
I will NEVER buy another EV. EV's are tech disguised as a car. What is your old smartphone worth? Old computer or laptop? It is worth nothing, Just like an old EV. Leasing is the only way to go with EV's. I will not worry about the car as much as I did owning it. nor take the massive depreciation hit. I look foward to exciting times in the AT. Praying that the experience will be as good as Porsche.
Although the Taycan has been flawless for 6.5 years & 77,000 miles, I am out of warranty & it is time to move on. IMHO, The car is not worth more than 34K. Massive depreciation.
I will NEVER buy another EV. EV's are tech disguised as a car. What is your old smartphone worth? Old computer or laptop? It is worth nothing, Just like an old EV. Leasing is the only way to go with EV's. I will not worry about the car as much as I did owning it. nor take the massive depreciation hit. I look foward to exciting times in the AT. Praying that the experience will be as good as Porsche.
Sweet. Congrats.
That's exactly why I leased even though I haven't leased a car in over 25 years. I am very bullish on developments in EVs. I love my GGT, but three years from now either Lucid or someone else will be producing a similar car that's even better in various ways: autonomy, efficiency, battery life, etc., etc. In the meantime, I'm paying three years of expected economic/technological depreciation. And the generous trade-in Lucid gave me is paying something under half the leasing cost.
I’ve leased exclusively for the past 40 years. I like getting a new car every three years and not worrying about repairs outside the warranty, so buying my Lucid off lease was a big departure for me. The steep depreciation raises concerns, but it also made my buyout incredibly attractive. My lease residual was approximately $50,000, and Lucid reduced the buyout to $33,750. Compared with another new Lucid lease—roughly $7,000 in drive-offs and $950 or more a month—the annualized cost of keeping my own car looked considerably lower.
It’s been a good car, and the new processor and UX 3.0 keep it feeling current. That’s why I don’t think the used-smartphone analogy quite fits the Air.. I also have another year of the original warranty, plus the remainder of the eight-year/100,000-mile drivetrain coverage. I understand an extended warranty may be in development, which could give me another option before my coverage expires.
There’s certainly risk, but I have the freedom to sell or trade whenever it makes sense. At my purchase price, it felt like a bet worth taking.
It’s been a good car, and the new processor and UX 3.0 keep it feeling current. That’s why I don’t think the used-smartphone analogy quite fits the Air.. I also have another year of the original warranty, plus the remainder of the eight-year/100,000-mile drivetrain coverage. I understand an extended warranty may be in development, which could give me another option before my coverage expires.
There’s certainly risk, but I have the freedom to sell or trade whenever it makes sense. At my purchase price, it felt like a bet worth taking.
How many miles with 33 K buyout?