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Yes, you've got it. At the end of the lease term, they own the car. You own nothing, and you owe nothing more. (unless you've gone over the lease mileage, in which case you owe additional mileage penalties) You've fulfilled your obligations, you turn in the keys, you walk away. All done...

By the way, for anyone who has enjoyed watching me twist myself into knots trying to explain leasing, and getting it wrong in an earlier post, I did figure something out that I think is worth posting, not just because I was annoyed I didn't understand it at first, but also because I think it's...

FYI this post is almost definitely not correct, but it's impossible to correct without more information. At the end of the day, to fully calculate a lease payment, you need net capitalized cost, residual, and interest rate, and they will spit out a monthly payment. So in short it's a math...

BTW, this post is wrong 🤦 The interest I came up with is wrong by half. You can see I came up with $120/month in interest payments in the fully prepaid version - that totals $4,320 in interest payments over 36 months. But borrowing $60K at 4.8% yields $2,880 in interest, per year, times 3...

Correct. I don't have you paying the residual in the example, only interest on the residual (and other funds borrowed in the lease). You still have to pay interest on the remaining principal owed on the vehicle during the lease. The leasing company is a third party - they still have to pay...

Interesting point. Could lend credence to the viewpoint that DE won't leapfrog GT in the delivery queue.

Those $1400 payments include a financing/interest portion. I didn't dig back through your example, and I don't know all the variables in your example, but it's a safe bet that there's at least $10,400 of something else in there (most likely interest but could also be other destination charges...

Sorry, we have essentially the same discussion in two places now, I posted a long reply in the other thread, maybe it really belongs here, but here's what I posted over there: [also, mods feel free to consolidate all this as needed, sorry if I am s***ing up the forum]...

Yes, generally correct. Here is a really rudimentary example: $100K MSRP car on a 36-month lease at a 4.8% interest rate and a 60% residual. Let's say it's an EV with $2000 of sales incentives and a $2500 down payment, and let's say it qualifies for the $7500 tax credit. $100K - $2000...

I think your issue is that you keep trying to define the word “depreciation,” which has a couple of different potential meanings. One is what I’ll call “market depreciation,” which id define as “what is the car worth on the open market at the end of the lease?” That’s unknown and somewhat...

no offense, but you don't understand leasing. down payment has no impact on residual. it does impact the capitalized cost, which impacts the amount of principle exposed to interest/money factor, and thus the payment and the total interest cost over the life of the lease. how leases work is...

I guess you need to change me to this tracker. Green, mid size rims, Tahoe.

This is what I was thinking. Get the $7500 credit and not pay any lease interest. It depends on how bad the money factor ends up being - I have no idea how Lucid may incentivize the leases (I'm guessing they won't start with a super-low rate) so if they're charging "market" interest rates then...

I was planning to buy but now I see a lease is probably better for a lot of reasons, even though I hope to buy the Gravity at the end of the lease term. - $7500 credit may be available - Bailout option if the car has quality issues - May be able to negotiate a better lease-end buyout if...

fuck. i caved.

It wasn't a criticism. I am grateful for the video (I said as much in an earlier post). With all the suspicions about NDAs etc. I was merely saying that he might have been giving wide berth to making too many comments.

I'm still on the fence but probably leaning GT over DE at this point. We'll see if I find the stones to pull the trigger in the coming days. In my heart of hearts, I know I don't need the extra HP. I'm not a good enough driver to push any car right up to its limits, and 860HP is already a...

I was also a little unclear on ownership but IMO the driver was being intentionally cagey about some of the details.

Pretty awesome to see. Not a ton of interaction with the software but definitely what is shown looks snappy enough. Did the steering wheel tilt motor whine that loudly or was I hearing something else?

At this rate, you may have to hold off 2 years to get a GGT....