LUCID Gravity Lease vs Finance

bhramabull said:

Today I see the car still in production...but....few options are greyed out on that page like "apply for financing" which i hadn't fully submitted the application after reading the previous posts regarding timeliness of when actually to apply...in any case wonder if those few options being 'greeyed out' on the page means progress in production of some sort?

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Disco Marathon said:

Thoughts? Am I missing anything?

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Disco Marathon said:

Hi folks. After receiving more detailed information from Lucid regarding lease terms, and a quote from PenFed for financing, it looks like it would cost less to buy the car out of lease than finance upfront. Specifically $135,959 (lease) vs. $141,820 (finance). Details below. Thoughts? Am I missing anything?

Loan
Vehicle and Fees = $118,150
Processing Fee = $195
Documentation = $75
Sales tax = $9,452
Registration = $108
Deposit = ($1,000)
Total Costs = $126,980

5% APR
$100,00 loan

$26,980 down
$1,740 / month for 66 months = $114,840
Total Spent = $141,820

Lease
Vehicle = $116,500
Destination Fee = $1,650
Acquisition Fee = $995
Upfront taxes = $1,050
Document fee = $450
Registration fee = $383
EV Credit = ($7,500)
Loyalty Credit = ($2,000)
Deposit = ($1,000)
Total Costs = $110,078

$10,019 down (includes first month payment)
35 months * $1,636 = $57,260
Total = $67,279

Residual = $68,680

Total Spent = $135,959

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