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Buying your Air at lease-end

translux said:
Yes roughly a month in advance. Given the rate of depreciation for the AIR I think you’ll easily buy below your target price.
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This is progress! When I asked them to do a deal on my lease return in April 2025 they told me no. Salesperson spoke to his manager who said the car had to be intaked and reconditioned before any resale would take place. Good to hear they've woken up! :)
 
Quick update on lease buy-outs. Looks like BOA not currently interested in negotiating lease buy outs. Mine is up in 45 days and a LFS person called to see what I wanted to do. Told them if buy-out was more aligned with market value would seriously consider it. Put me on hold for 5 min and came back with a $100 reduction from what the automated system told me I could do (which was what my lease agreement stated.

I told them that wouldn't work as it is significantly higher than current market re-sale. If others on this thread are getting great deals, congrats. My experience was a total dead end.
 
MapleMan said:
Quick update on lease buy-outs. Looks like BOA not currently interested in negotiating lease buy outs. Mine is up in 45 days and a LFS person called to see what I wanted to do. Told them if buy-out was more aligned with market value would seriously consider it. Put me on hold for 5 min and came back with a $100 reduction from what the automated system told me I could do (which was what my lease agreement stated.

I told them that wouldn't work as it is significantly higher than current market re-sale. If others on this thread are getting great deals, congrats. My experience was a total dead end.
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I sure am sorry it’s working out that way, but thank you for taking the time to update the rest of us. It’s really cool that you did that.
 
MapleMan said:
Quick update on lease buy-outs. Looks like BOA not currently interested in negotiating lease buy outs. Mine is up in 45 days and a LFS person called to see what I wanted to do. Told them if buy-out was more aligned with market value would seriously consider it. Put me on hold for 5 min and came back with a $100 reduction from what the automated system told me I could do (which was what my lease agreement stated.

I told them that wouldn't work as it is significantly higher than current market re-sale. If others on this thread are getting great deals, congrats. My experience was a total dead end.
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Could you provide details on your location and your vehicle (MY and miles)? I’m wondering what factors may come in to play where they think they’ll get a good price at auction for yours
 
JGard18 said:
Could you provide details on your location and your vehicle (MY and miles)? I’m wondering what factors may come in to play where they think they’ll get a good price at auction for yours
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Could also be that this will be a vehicle drawn into the CPO program and resold through Lucid's Recharged program.
 
Tanngential question - If I had the car windows tinted, and some of the body wrapped in Paint Protective Film, will I be required to have all that removed at lease end?
 
Bus Driver said:
Tanngential question - If I had the car windows tinted, and some of the body wrapped in Paint Protective Film, will I be required to have all that removed at lease end?
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Yes, or they may charge you for removing them.
 
JGard18 said:
Could you provide details on your location and your vehicle (MY and miles)? I’m wondering what factors may come in to play where they think they’ll get a good price at auction for yours
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New England, 2025 AT, 14800 miles. I believe they may be more aggressive on 23 or 24 models for buy-out since there a ton of them on Lucid site for sale. Will see if they get more creative closer to end date. My suggestion is don't even start the process until within 30 - 45 days as I am sure their script says hold the line. One other data point, I did a Carvana sale as was suggested on this thread and their number was about $9k lower than LFS was offering. Not an apples to apples compare but a great reference for wholesale value and a good indication the residual value tied to our leases is off-market now.
 
I think @Macrocosmcwh brought up an important point - if BofA has insurance covering residual value, there is no reason for them to bend on buyout price.
 
Macrocosmcwh said:
So... I am in the car biz. Specifically in the finance department in a car dealership. 30 years in fact. So I will gladly be the expert in the room on this.

Consider this... I purchased my GT for 53000.00. Its original MSRP was approximately 160,000.00 so in four years it went down 67%. Keep in mind my GT was HARD LOADED AND HAD 6000 MILES WHEN I PURCHASED IT. If I purchased it for 53000.00 I am pretty safe to say that the trade-in (wholesale value=ACTUAL CASH VALUE) would be around 48-49000.00. I later confirmed this with Carvana. So that makes the ACV 30%. The Air has dropped in value 70% with 6000 miles on the car no accidents. So that puts a per year depreciation at 17.5%. So consider your value carefully. BEFORE you buy out your own lease, find out what Carvana or the like would give you to PURCHASE IT FROM YOU DIRECTLY. DO NOT TELL CARVANA THAT YOU OWE ANYTHING ON THE CAR... Just the vin description and miles. THEN determine what your buyout INCLUDING FEES AND TAXES WOULD BE.

In MOST cases it is better to purchase another one than purchasing the lease out. Leasing companies use ALG (automotive lease guide) to determine the residual then the manufacture will subsidize that dollar amount to control the payment. I am happy to talk with you further about it if you want. Send me a message I will gladly give you my cell phone number.
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All good points. But if the numbers are pretty close, I’d rather know the history on the car and have my own (assuming I’ve treated it well).
 
borski said:
Yes, or they may charge you for removing them.
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which is insane - not specific to Lucid for sure, but makes no sense. Id prefer to buy a pre-owned car with tint and PPF already done and they could probably charge slightly more too.
 
tmichael said:
I think @Macrocosmcwh brought up an important point - if BofA has insurance covering residual value, there is no reason for them to bend on buyout price.
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Highly doubt they have insurance for this. They may have some financial protections built into their partnership and or accounting some financials for a market downturn. Certainly not a ‘no risk’ insurance. There will be caps to everything.
 
Lucidale said:
Highly doubt they have insurance for this. They may have some financial protections built into their partnership and or accounting some financials for a market downturn. Certainly not a ‘no risk’ insurance. There will be caps to everything.
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Sounds like ordinary GAP insurance to me.
 
Lucidale said:
Highly doubt they have insurance for this. They may have some financial protections built into their partnership and or accounting some financials for a market downturn. Certainly not a ‘no risk’ insurance. There will be caps to everything.
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Sorry, shouldn't have used the word insurance, but "downside protection." I'm from the financial industry, so we use the word for more than "specified loss" events. :)
 
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Can anyone share their story on negotiating a lower purchase price at lease end for a '23 Pure AWD?
 
I’ve been leaning toward leasing another new Lucid when my lease ends in September, but the Lucid resale market has me rethinking that just a bit.

It looks like I could get a low-mileage 2024 Touring in the same price range as the residual on my 2023 Pure AWD. I like my current car and know its full history, but a newer Touring adds features I do not have on mine while still having more factory warranty remaining. My assumption is that once the 2027 model year arrives, prices on the remaining 2024–2025 cars may become even more attractive. My current lease is up in early Sept, but they will allow month to month extensions as needed.
 
Macrocosmcwh said:
May I ask... how much total cash did you put down when you did your deal? Calculate 820X35 payment +cash + 38,000.00+ your TAX on the 38000.00 to give you what you are paying in full for this car. Now in my experience if your residual is 49000 or 53% THE MOST they would discount to convince you to purchase is mid to lower 40's. AT BEST. Remember, BofA has insurance to cover any losses taken by wholesale and they can still come for their 10K (legally however usually they will forgive 5000 of damage) miles are another thing and dispo fee will be collected...

Just do your own math... Determine the total you are paying for the car. Ask yourself IF YOU WERE BUYING THIS NEW FROM THE BEGINING FOR THIS AMOUNT.... WOULD YOU DO IT?"

Lastly, remember... NONE OF THIS WILL EVER MAKE SENSE.... I mean buying a car is DUMB for us all. If we were all SMART we would ALL BE DRIVING 1986 HONDA CIVICS. That we put 250 a year into keeping it running. THAT is the only SMART car purchase.

I am just saying be mindful of OWNING a depreciating asset.
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I am a depreciating asset
 
donfenn said:
I’ve been leaning toward leasing another new Lucid when my lease ends in September, but the Lucid resale market has me rethinking that just a bit.

It looks like I could get a low-mileage 2024 Touring in the same price range as the residual on my 2023 Pure AWD. I like my current car and know its full history, but a newer Touring adds features I do not have on mine while still having more factory warranty remaining. My assumption is that once the 2027 model year arrives, prices on the remaining 2024–2025 cars may become even more attractive. My current lease is up in early Sept, but they will allow month to month extensions as needed.
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Care to share what is your residual on your 2023 Pure ?
 
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