18 month Air Touring lease with Gravity Priority

[manitou202]

I was an early Air Grand Touring reservation holder, but cancelled our order in May of 2022 after deciding to wait for the Gravity. I prefer a sedan, but my wife really wants an SUV.

We've been on the email list for the Gravity and were recently contacted by Lucid about test driving an Air Touring in our area. So we took advantage of the test drive to at least experience a Lucid vehicle. We were both extremely impressed and secretly I was in love with the Air and wanted to order one, but went home to continue the wait.

Fast forward 6 weeks and I received an email today from our sales associate that Lucid is currently offering an 18 month lease special on the Air Touring and Grand Touring. It's basically the same lease rate as the 36 month lease, but for only 18 months. He said we will be granted priority status for our Gravity order and delivery, and the Gravity bridge lease (their term not mine) will be flexible at the end of the term to coordinate with our delivery. So supposedly I can end the lease early or extend it to match the timing for our Gravity delivery. There is also no obligation to reserve a Gravity. So worst case I have a short 18 month lease with the Air.

So I put down a deposit on an Air Touring tonight and hope to take delivery in the next couple of weeks. I'll post more details as I work through the process. Definitely an attractive way to get those interested in the Gravity into an Air in the meantime.

 

[hydbob]

Wow that's crazy but awesome!

 

[Drendino]

I was an early Air Grand Touring reservation holder, but cancelled our order in May of 2022 after deciding to wait for the Gravity. I prefer a sedan, but my wife really wants an SUV.

We've been on the email list for the Gravity and were recently contacted by Lucid about test driving an Air Touring in our area. So we took advantage of the test drive to at least experience a Lucid vehicle. We were both extremely impressed and secretly I was in love with the Air and wanted to order one, but went home to continue the wait.

Fast forward 6 weeks and I received an email today from our sales associate that Lucid is currently offering an 18 month lease special on the Air Touring and Grand Touring. It's basically the same lease rate as the 36 month lease, but for only 18 months. He said we will be granted priority status for our Gravity order and delivery, and the Gravity bridge lease (their term not mine) will be flexible at the end of the term to coordinate with our delivery. So supposedly I can end the lease early or extend it to match the timing for our Gravity delivery. There is also no obligation to reserve a Gravity. So worst case I have a short 18 month lease with the Air.

So I put down a deposit on an Air Touring tonight and hope to take delivery in the next couple of weeks. I'll post more details as I work through the process. Definitely an attractive way to get those interested in the Gravity into an Air in the meantime.

That’s a no brainer, congrats! Smart of Lucid to use leasing as a gateway drug to the Gravity.

 

[thecodingart]

I sort of wish this is something I could have done. I love my AGT, but the Gravity is taunting me.

 

[DBV]

I heard about that a couple days ago. It is very tempting. Great way to try the Grand Touring or Touring and the lease seemed like it was a really good deal. Was trying to find out what the money factor was too.

 

[bru8131]

I work with numbers daily; hence, I couldn't resist deciphering how this works out.

I tried the online lease calculator for a Touring model with a $15,000 down and a 10,000-mile allowance. Below is how it plays out.

The Net Cap cost remains the same between 18 Month and 36 Month lease terms, but what is interesting is the monthly payment is cut in half with the 18 Month term. So Lucid is absorbing almost $451 per month (absolute dollar amounts) for 18 months, which equates to ($8,118). The Net Cap Cost remains the same in both cases at $84975. I assume this additional discount they are giving on the monthly payment will not be added to the cap cost reduction. So, after the lease, the buy-out price will only be based on the $84975 regardless of the term chosen.

In the case of Air Pure, when I lowered the term from 36 months to 18 months with a similar $15,000 downpayment and 10,000-mile lease allowance, the monthly payment went up from $517 to $921.

I have ordered an Air pure and awaiting delivery next week. Since the Touring only comes mandatory with an additional cost of $11,900 (for DD Pro and SS Pro), which I am not interested in at this time, I decided to stick with the Air Pure.

Hope this analysis is useful for the community.

Cheers!

 

[Tay Chi]

Is this still a 0% lease offer?

 

[Tay Chi]

I work with numbers daily; hence, I couldn't resist deciphering how this works out.

I tried the online lease calculator for a Touring model with a $15,000 down and a 10,000-mile allowance. Below is how it plays out.

The Net Cap cost remains the same between 18 Month and 36 Month lease terms, but what is interesting is the monthly payment is cut in half with the 18 Month term. So Lucid is absorbing almost $451 per month (absolute dollar amounts) for 18 months, which equates to ($8,118). The Net Cap Cost remains the same in both cases at $84975. I assume this additional discount they are giving on the monthly payment will not be added to the cap cost reduction. So, after the lease, the buy-out price will only be based on the $84975 regardless of the term chosen.


View attachment 14972View attachment 14973


In the case of Air Pure, when I lowered the term from 36 months to 18 months with a similar $15,000 downpayment and 10,000-mile lease allowance, the monthly payment went up from $517 to $921.

I have ordered an Air pure and awaiting delivery next week. Since the Touring only comes mandatory with an additional cost of $11,900 (for DD Pro and SS Pro), which I am not interested in at this time, I decided to stick with the Air Pure.

Hope this analysis is useful for the community.

Cheers!

The math you have doesn't make sense. Why would there be a difference in Net capital cost? That is the purchase price made artificially low by a huge down payment!

 

[bru8131]

It's from Lucid lease calculator. They might be doing some adjustments on the backend to make it work.

 

[lpinprov]

if you look at the total monthly cost, it is almost the same. Remember in the 18 month lease your $15k down payment is nearly $1000/month over the course of the lease. ($15,000/18 = $833 per month). in the 36 month lease, that down payment is only half that much ($417/month). so the monthly payment has to be higher to offset the lower impact of the down payment.

The average monthly cost of the 18 month lease is $1268, the 36 month lease is $1302. The 18 month lease is clearly a good deal, since you can get out after the 18 month period if you want, so that option costs you nothing.

 

[Andretex]

Yes, the down payment is having an impact on the 18 month lease. Also, keep in mind there will be a $900 lease acquisition fee plus some licensing costs added. In addition your $15,000 down will trigger sales tax and you will pay sales tax on the $7,500 credit. So you will have to pay around $18k down and the monthly payment will increase by the sales tax.

 

[manitou202]

Here are my terms of the 18 month lease.

Gross Capitalized Cost: $121,981
Capitalized Cost Reduction: $11,500 ($7500 tax credit plus $4000 cash down payment)
Residual Value: $86,451
Rent Charge: 0.00
Lease Payments: 18
Miles per year: 7500
Lease Payment: $1335

My payment is slightly higher because of local sales tax and registration. But this at least shows the cost minus those variables.

Build:
Touring
Quantum Grey
Stealth with Glass Canopy
21" Aero Sport Stealth Wheels
Santa Cruz
Surreal Sound Pro
Dream Drive Pro

 

[bru8131]

I took delivery. It's been a great experience coming from Tesla.

 

[Drendino]

I took delivery. It's been a great experience coming from Tesla.

That’s awesome, congrats!

 

[Tay Chi]

Here are my terms of the 18 month lease.

Gross Capitalized Cost: $121,981
Capitalized Cost Reduction: $11,500 ($7500 tax credit plus $4000 cash down payment)
Residual Value: $86,451
Rent Charge: 0.00
Lease Payments: 18
Miles per year: 7500
Lease Payment: $1335

My payment is slightly higher because of local sales tax and registration. But this at least shows the cost minus those variables.

Build:
Touring
Quantum Grey
Stealth with Glass Canopy
21" Aero Sport Stealth Wheels
Santa Cruz
Surreal Sound Pro
Dream Drive Pro

Thanks for sharing.

 

[manitou202]

Picking up the car tomorrow. My delivery advisor just sent a picture. Can't wait!

 

[quantum]

Picking up the car tomorrow. My delivery advisor just sent a picture. Can't wait!

View attachment 15404

Are those a performance wheel upgrade? Didn't see them in the options list. Looks very cool!

 

[manitou202]

Are those a performance wheel upgrade? Didn't see them in the options list. Looks very cool!

They are the Aero Sport Stealth wheels that are optional with the Stealth package. Basically a darker version of the Grand Touring Performance wheels.

 

[manitou202]

Just took delivery this afternoon. What an amazing car! It feels every bit a fast and sporty as my prior Taycan Turbo S for $100k less. Plus a better UI and more luxury.

I really can't believe more people aren't picking these up.

 

[xtsla]

I sort of wish this is something I could have done. I love my AGT, but the Gravity is taunting me.

I agree! i'll be taking a haircut trading mine in for it unfortunately.