‘22 New Inventory Deals: $110k GT’s, 0% interest

[koflo]

Hey everyone,

I recently went into the lucid showroom here in Az and learned about a deal that lucid is running. They have a huge number of 22’ lucid air grand tourings in inventory. They are offering them for $110k with 0% interest for 72 months. Given most used airs are $90-$100k I figured this was a phenomenal deal! They also had around 8 GTP's for $135k. Just thought I’d pass the knowledge along!

Here are the finance details directly from the lucid site:
MY22 New Inventory is available at 0% APR for up to 72 months for well-qualified buyers. Must apply for financing by September 30, 2023. Your actual APR may differ on your credit history, loan term, and other factors. Payment example: Monthly payment is $13.89 for every $1,000 you finance for 72 months at 0% Annual Percentage Rate (APR). Rates not available to refinance any existing loans. Cannot finance 101% or more of the vehicle price. Subject to credit approval; this is not an offer to lend. Only available to U.S. customers applying through Lucid Financial Services. Cannot be combined with other offers. Other conditions and restrictions apply.

Lucid unfortunately is not advertising the '22 inventory on their website so you have to ask the Lucid showroom rep about this. The rep also didn't have a ton of details but essentially told me that I need to reserve my spec, let them know what my spec looks like, then they will do an vin swap behind the scenes for the '22 with a similar config.

Figured I would share since I couldn't find anything about it here yet.

 

[Drendino]

I’m jealous of that deal. Great time to be an EV buyer.

 

[KenAir]

That sounds like an incredible deal. Less than I paid for my used 2022. If I didn't already have an AGT and was sitting on the fence I sure would jump on that deal.

Of course, this means my AGT is worth well below $110K now...

I never thought the AGT was worth $138K or whatever the new ones peaked at. But no doubt $110K is a great price for an amazing car.

 

[koflo]

That sounds like an incredible deal. Less than I paid for my used 2022. If I didn't already have an AGT and was sitting on the fence I sure would jump on that deal.

Of course, this means my AGT is worth well below $110K now...

I never thought the AGT was worth $138K or whatever the new ones peaked at. But no doubt $110K is a great price for an amazing car.

Its definitely bitter sweet.

The good thing for you is Lucid isn't advertising these at all. Im assuming they want to sell the '23s if they can.

The bad thing for me is that I can't even entertain the used market as everything there is seemingly overpriced now. The dealerships near me refuse to lower their price even a dollar. If you factor in the full purchase price of the used cars (including interest at 6.5ish percent) then you are paying more for the vehicle than $110k with 0% financing.

For the company and stock, I just wish Lucid would advertise this since I think they would move cars a little quicker. Hard to compete against yourself I guess.

 

[KenAir]

I think if Lucid still has 2022's, they should just advertise them and get them sold as quickly as possible. Get the pain over with. Don't see the point in a "stealth" sale. Best way to protect current owners and encourage new buyers is to clear out the 2022 inventory ASAP. When they are gone, they are gone, and the market value can recover.

 

[KenAir]

I sure hope I can buy a Gravity with range comparable to my AGT for roughly that price and terms! Soon!

 

[Shane_SLC]

If I could trade in my Touring I would seriously consider upgrading to a GT for that price. I'm guessing that price is without DDP and SSP, though.

 

[Cosmo Cruz]

I think if Lucid still has 2022's, they should just advertise them and get them sold as quickly as possible. Get the pain over with. Don't see the point in a "stealth" sale. Best way to protect current owners and encourage new buyers is to clear out the 2022 inventory ASAP. When they are gone, they are gone, and the market value can recover.

I think it's cool to give insiders the first refusal. Has me seriously tempted. Bet they sell like hotcakes.

 

[koflo]

If I could trade in my Touring I would seriously consider upgrading to a GT for that price. I'm guessing that price is without DDP and SSP, though.

Im being told that it would include them as well. I have my reservation in, once I get the order info I will report back here on any catches throughout the process.

 

[Impatient7536]

i wonder if this can be applied to leases to take advantage of the 7.5k rebate, then just buy it outright shortly after.

 

[Tay Chi]

The OP info is correct. It's only available for purchase/loan.

Lucid 2022 Vin # switched to 2023 around November 2022. My understanding is that there are no changes software/hardware wise between the two model years. And no changes anticipated for 2024 either.

Is that a correct assumption?
Is there a quality control reason to avoid a 2022 car , or certain production months of that year

 

[Spin Doctor]

I emailed the sales guy at Tysons, told him if this was for real and he could get me a red one I’d be sorely tempted. No response yet …

 

[koflo]

I emailed the sales guy at Tysons, told him if this was for real and he could get me a red one I’d be sorely tempted. No response yet …

Let me know what they say. I am curious if maybe this is a regional thing or if my rep didn't have the details correct, etc...

 

[Tay Chi]

According to my SA. It is a limited # offer, not regional. But they are not advertising it. They probably did it to clear inventory, and maybe as a response to recent Tesla price drop.

Still hoping for some answer to my questions above.

 

[koflo]

Update: I finally got to speak to my Delivery Manager and she was able to clear up a lot of things. The cars all come fully loaded outside of the rims for $110k. If you want the rims then it will be an additional $1500 but SSP and DDP come with the vehicle. You will then have the taxes and fees applied so for me it would end up coming out to $124k-ish if I optioned the 21" wheels.

As far as financing, Lucid only offers up to 72 month loans. During the application process, the car will still look like a '23 so it will look like you are applying for a much bigger loan. Once you have applied then they will work on adjusting the price and vin correctly. Overall, you can expect around a 3-4 week lead time as they ship the car and prepare it for delivery (this kind of shocked me given the car is already manufactured).

Regardless, thats the update.

 

[hydbob]

Update: I finally got to speak to my Delivery Manager and she was able to clear up a lot of things. The cars all come fully loaded outside of the rims for $110k. If you want the rims then it will be an additional $1500 but SSP and DDP come with the vehicle. You will then have the taxes and fees applied so for me it would end up coming out to $124k-ish if I optioned the 21" wheels.

As far as financing, Lucid only offers up to 72 month loans. During the application process, the car will still look like a '23 so it will look like you are applying for a much bigger loan. Once you have applied then they will work on adjusting the price and vin correctly. Overall, you can expect around a 3-4 week lead time as they ship the car and prepare it for delivery (this kind of shocked me given the car is already manufactured).

Regardless, thats the update.

0%APR for 72 months is definitely a great deal

 

[thecodingart]

I can honestly say I’m getting a bit bitter. I love my car, but saving 10-20k + 0% APR is a steal and there doesn’t seem to be any retroactive option for people like me.

This is fantastic for new potential owners though…

 

[Shane_SLC]

I can honestly say I’m getting a bit bitter. I love my car, but saving 10-20k + 0% APR is a steal and there doesn’t seem to be any retroactive option for people like me.

This is fantastic for new potential owners though…

I share those bitter feelings. If I could trade in my Touring to Lucid I would upgrade, no question.

 

[koflo]

I can honestly say I’m getting a bit bitter. I love my car, but saving 10-20k + 0% APR is a steal and there doesn’t seem to be any retroactive option for people like me.

This is fantastic for new potential owners though…

If it makes you feel any better, I bought a plaid at $133k… it’s worth $80-85 private party now a days. So it could be worse! Haha

 

[Bus Driver]

I can honestly say I’m getting a bit bitter. I love my car, but saving 10-20k + 0% APR is a steal and there doesn’t seem to be any retroactive option for people like me.

This is fantastic for new potential owners though…

We saw the same kind of thing happen over and over again at Tesla. Prices dropping every week, ever more competitive APRs, ever more enticing loan and lease terms. The various Tesla owners’ fora were rife with hysterical gnashing of teeth in protest, and with thundering demands for current and recent owners of Model Ss to “be made whole”. To no avail. Tesla stuck to their guns with their price cuts, and loyal early adopters were left fulminating and of course, gnashing their teeth.

This was during the relatively early days, before the advent of the mass market Model 3 and Model Y era.

As I’ve learned with only some consternation, seeing your “investment” plunge in value seemingly overnight due to price cuts on brand new cars is one of many prices you have to be willing to pay to be an early adopter, or at the very least, to have bragging rights. It can feel painful if you dwell on it for too long, unfair even. So what I do is take my Air GT for a quick spin to the grocery store, and I quickly forget about all this.