Anyone able to set up automatic finance/lease payments electronically?

[wa_lucid]

I get a paper envelope with a slip to return with a check to return with the monthly lease payments. The only other option (per the letter) is to pay by phone, in which I need to call a Lucid Financial agent and give them my bank account information to deduct.

This all sounds so 1990s. Has anyone been able to set up an electronic account with automatic deduction for their lease payments?

 

[JSteph3061]

It does seem pretty antiquated. I found no other option but to send in a cancelled check and the form that you received. It did work pretty seamlessly from there and I now have automated payments made on the first of every month.

 

[borski]

It does seem pretty antiquated. I found no other option but to send in a cancelled check and the form that you received. It did work pretty seamlessly from there and I now have automated payments made on the first of every month.

I have mine set up through Bank of America’s online interface.

 

[Jefferoo]

I have mine set up through Bank of America’s online interface.

How did you do that Borski? Were you already a BOA customer? I don’t do any banking with BOA and was also given to options of sending in checks every month (shudder) or wait for them to mail me a form that I fill in and send back with a voided check. They told me that I will need to send a check or pay over the phone in April too since it will take a month or so to set up the auto-withdrawal. Seems pretty old school …

 

[borski]

How did you do that Borski? Were you already a BOA customer? I don’t do any banking with BOA and was also given to options of sending in checks every month (shudder) or wait for them to mail me a form that I fill in and send back with a voided check. They told me that I will need to send a check or pay over the phone in April too since it will take a month or so to set up the auto-withdrawal. Seems pretty old school …

I was already a BoA customer. Have you tried setting up an online account and calling BoA to link it?

 

[Jefferoo]

I was already a BoA customer. Have you tried setting up an online account and calling BoA to link it?

Thanks for the idea. I might give that a try but I’m not sure it would help since I would still need to pay from my current bank. The funds wouldn’t be at the new BOA account and I doubt that having a BOA account linked would allow me to have the loan account take the funds out of a non-BOA checking account each month. Appreciate your reply and idea though. : )

 

[borski]

Thanks for the idea. I might give that a try but I’m not sure it would help since I would still need to pay from my current bank. The funds wouldn’t be at the new BOA account and I doubt that having a BOA account linked would allow me to have the loan account take the funds out of a non-BOA checking account each month. Appreciate your reply and idea though. : )

Ah, I see your point. You could probably use something like your bank’s online bill pay to just have them mail a check every month. I do that with all sorts of bills.

 

[Babyrocko1908]

I get a paper envelope with a slip to return with a check to return with the monthly lease payments. The only other option (per the letter) is to pay by phone, in which I need to call a Lucid Financial agent and give them my bank account information to deduct.

This all sounds so 1990s. Has anyone been able to set up an electronic account with automatic deduction for their lease payments?

No. I was told BOA/Lucid Financial is working on an online payment portal for Lucid payments directly. It's just not ready yet. They are also sending me a form to fill out with a canceled check for automatic payments until the portal is ready.

 

[Babyrocko1908]

I was already a BoA customer. Have you tried setting up an online account and calling BoA to link it?

I haven't tried this. What would I need to do open up a BOA checking account?

 

[Babyrocko1908]

Ah, I see your point. You could probably use something like your bank’s online bill pay to just have them mail a check every month. I do that with all sorts of bills.

The only problem I have with this is it will still have to generate a physical check and send it via snail mail to BOA. That's my issue. The mail is a mess right now and has been for years.

 

[joec]

The only problem I have with this is it will still have to generate a physical check and send it via snail mail to BOA. That's my issue. The mail is a mess right now and has been for years.

This is why I’m paying over the phone for now. I figured they’d get online payments going eventually. I do not trust the mail at all.

I suspect borski can pay via BoA because his loan happened before Lucid Financial Services was even a thing yet. The newer loans are all done through this separate entity.

It’s all new and mucked up, like so many things with a young company. It’ll join the 21st century soon enough. It’s money. They’re going to want to make it as convenient as possible.

 

[AirDoll]

I get a paper envelope with a slip to return with a check to return with the monthly lease payments. The only other option (per the letter) is to pay by phone, in which I need to call a Lucid Financial agent and give them my bank account information to deduct.

This all sounds so 1990s. Has anyone been able to set up an electronic account with automatic deduction for their lease payments?

Mine is paid online through my bank (not BofA) via bill pay. The bank generates the check and sends it to them, you just have to input the info once: Account number, amount, remittance address, and due date. The bank will pull it out of your checking account monthly just like a normal check/debit approximately 5-7 days before it's due.

 

[borski]

The only problem I have with this is it will still have to generate a physical check and send it via snail mail to BOA. That's my issue. The mail is a mess right now and has been for years.

Just send it a few days before the due date. I’ve never had an issue with it, for any of the bills I use with bill pay.

 

[saabfan]

I’m out of town and away from paper correspondence. Does anyone have the phone number for LFS? Texts to customer support (normally super responsive) are being met with radio silence.

I’m a BoA customer and wish I could link accounts. LFS goofed on one digit of my bank account and now my auto payments are being returned, and the system is so antiquated that they are making me repeat the entire process and won’t accept another payment until the first one is declined.

They really need an online payment portal.

 

[Babyrocko1908]

I’m out of town and away from paper correspondence. Does anyone have the phone number for LFS? Texts to customer support (normally super responsive) are being met with radio silence.

I’m a BoA customer and wish I could link accounts. LFS goofed on one digit of my bank account and now my auto payments are being returned, and the system is so antiquated that they are making me repeat the entire process and won’t accept another payment until the first one is declined.

They really need an online payment portal.

I'm about to make my payment as well. The number is 833-641-2011.

 

[wa_lucid]

Interestingly Lucid Financial sent me an ACH form. Mind you it is still by snail mail, but at least I'm hoping regular monthly deduction is in my future.

 

[Daniel2022AT]

I have automatic ACH set up from my bank to Lucid Financial aka Bank of America. No problem.

 

[fyellin]

I have automatic ACH set up from my bank to Lucid Financial aka Bank of America. No problem.

What bank do you have that has automatic ACH. My bank, Wells Fargo, seems to only have Zelle (you can't schedule future payments) and pay by check.

 

[Daniel2022AT]

Lucid Financial Services very recently set up a new online portal. I spoke to a rep yesterday. I have successfully processed a one-time payment and Auto Pay. It works like any other payment processing portal.

www.lfs.lucidmotors.com

Evidently this is a closely guarded secret so keep it under wraps. OK?

(Just kidding.)

I understand they are rolling this out to current customers over the next payment cycle.

 

[truth.b]

Just leased a Air GT in Dec 2023 and it "appears" I have setup Autopay though Lucid Financial Services. The website link has changed the following link works as of 1/22/24.

Lucid Financial Services Link >> https://servicelfsus.com/