A bit of a strange experience w Finance team upon ordering

[Swisstrader]

Had a bit of a strange experience with one of Lucid’s finance ppl on a call today. initially, sales rep who was very helpful said hey, let me send you the pricing calculator through email. I dutifully filled out the calculator as 10K miles, Air Touring, NJ resident, 36 mo lease, $12, 500 cash (incl $7500 credit from Lucid) and with a total cost of about $107,500. My monthly lease amount then shows $1620/month.

I call back the sale rep who then says let me turn you over to our financial team who can help you with the pricing model. After a bit of back and forth, I stated that I thought the lease price of $1620/mo was a bit high. She then says “that won’t be the actual price when you place the Order and that when you do, the monthly lease amount will be much less”.

I‘m a bit confused at this stage and finance woman couldnt quite explain how it shows one number on the calculator but cheaper when you make the actual order.

Thoughts?

 

[Swisstrader]

Also meant to ask what the average turnaround time from order to delivery is for the Air Touring?

 

[Miami_Lucid_Man]

**Following**

I've seen the same thing. The numbers on the calculator are a little higher than I'd hoped so I'm interested to see what they meant by that.

 

[idiot900]

Sounds like the sales person doesn't know what the money factor and residual are. The proper finance people should tell you that - and you should ask, so you can compare for yourself to just buying the car on a regular loan.

 

[Swisstrader]

Sounds like the sales person doesn't know what the money factor and residual are. The proper finance people should tell you that - and you should ask, so you can compare for yourself to just buying the car on a regular loan.

This was actually the finance group I was speaking with which is what confused me

 

[DBV]

Did you ever figure out anymore on the above? I wish you could apply and then get a real calculator that included tax calculation, options, rebate, etc that would give the real payment on a lease. Thinking of going with a 24 mos lease. I call Lucid Finance (BofA) and they were really nice, but really could not get more specific, until all the paperwork is completed.

 

[Swisstrader]

Did you ever figure out anymore on the above? I wish you could apply and then get a real calculator that included tax calculation, options, rebate, etc that would give the real payment on a lease. Thinking of going with a 24 mos lease. I call Lucid Finance (BofA) and they were really nice, but really could not get more specific, until all the paperwork is completed.

It’s very bizarre actually. Never heard of speaking to a finance team at any car manufacturer and not getting a very precise quote on what my monthly lease would be. When I called, the finance rep was clueless about what my numbers would be and said “just place your order and you will get your numbers”. Never heard of something so silly. I should put up $1000 deposit before Im certain of my monthly lease amount?

Lucid only have a handful of models and with a relatively small number of options and a set price for the car. Why cant I get more precison on a quote?

 

[DBV]

It’s very bizarre actually. Never heard of speaking to a finance team at any car manufacturer and not getting a very precise quote on what my monthly lease would be. When I called, the finance rep was clueless about what my numbers would be and said “just place your order and you will get your numbers”. Never heard of something so silly. I should put up $1000 deposit before Im certain of my monthly lease amount?

Lucid only have a handful of models and with a relatively small number of options and a set price for the car. Why cant I get more precison on a quote?

Same with me too. Secure my order and then apply for credit, go through paperwork to get my real lease number. Wish there was an option just to run the credit first and then use a real option on Lucid’s website to play with real numbers.

 

[Swisstrader]

Same with me too. Secure my order and then apply for credit, go through paperwork to get my real lease number. Wish there was an option just to run the credit first and then use a real option on Lucid’s website to play with real numbers.

I’m new to this forum but wondering if there’s a way for owners to communicate with the CEO about suggestions for improving the whole sign up to buy process. I would guess that its a big turnoff for a lot would be buyers to have their credit run, fill out an application, and then put down $1,000 BEFORE they are being told what their monthly spend will be.

In a funny way reminded me of a pretty high end restaurant I used to go to…they would have nightly specials on a chalkboard but with no pricing. Then at the end of the meal you would get the bill and go into a bit of shock about a bowl of pasta that cost $75 or the veal that would cost $60!!

 

[fyellin]

I seem to be running into the same issue.

I used Lucid's Payment Calculator. It told me that a lease of a Grand Touring for 48 months, 12k miles/year, $15k down payment would be under under $2500/month. I knew that this number was approximate, but it was in my ballpark. Based on this, I placed my order.

I got my VIN the next day! There was a car on the lot that matched my specifications! I used the application for Lucid Financing. Entering the same numbers that I had used on the payment calculator above, It told me my payment would be $3117/month. Yikes, that's more than 25% higher!

Is there any reasonable explanation for what's going on? Do I believe the Lucid Financing numbers or is that yet another estimate. The car turned out to be a 2022, so does the car just have less residual value? That much.

That order fell through: iLucid/BofA will only lease current-year models. I have time to consider my options.

 

[Swisstrader]

I seem to be running into the same issue.

I used Lucid's Payment Calculator. It told me that a lease of a Grand Touring for 48 months, 12k miles/year, $15k down payment would be under under $2500/month. I knew that this number was approximate, but it was in my ballpark. Based on this, I placed my order.

I got my VIN the next day! There was a car on the lot that matched my specifications! I used the application for Lucid Financing. Entering the same numbers that I had used on the payment calculator above, It told me my payment would be $3117/month. Yikes, that's more than 25% higher!

Is there any reasonable explanation for what's going on? Do I believe the Lucid Financing numbers or is that yet another estimate. The car turned out to be a 2022, so does the car just have less residual value? That much.

That order fell through: iLucid/BofA will only lease current-year models. I have time to consider my options.

Very strange indeed.

I wonder why there is not someone who works for Lucid occasionally coming on these threads to provide more input vs the constant guessing game.

 

[Yoruba Hacker]

I’m new to this forum but wondering if there’s a way for owners to communicate with the CEO about suggestions for improving the whole sign up to buy process. I would guess that its a big turnoff for a lot would be buyers to have their credit run, fill out an application, and then put down $1,000 BEFORE they are being told what their monthly spend will be.

In a funny way reminded me of a pretty high end restaurant I used to go to…they would have nightly specials on a chalkboard but with no pricing. Then at the end of the meal you would get the bill and go into a bit of shock about a bowl of pasta that cost $75 or the veal that would cost $60!!

Thinking of doing exactly this. How many people has this pissed off? They need every new delivery they can get and this is an annoyance that should be an easy fix.