I just had a random thought in my sleep. I'll ask Lucid tomorrow but I wonder if I can convert from financing with my bank to Lucid lease? Lucid will basically buy my remaining loan then put me on a lease.
Convert bank loan to Lucid lease?
- Thread starter noobzilla
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That is a wonderful idea if possible. Good Luck and let us know how that goes.
Just wondering - what does Lucid gain by doing it when you have already purchased the car.
Was actually wondering the same thing and considering theyre trying to get rid of inventory I doubt theyd allow it. They'd have to price it so it's financially profitable for them if they allow to convert.
I'm not familiar with the lease, interest rate, fees, residual values and whether I could extend it at the end of the lease. Right now I still have a bit more than 6 years to pay so maybe I can do two three year leases, have residual value and decide to buy the car then. Could lower my monthly payment but yeah youre right it's hard to imagine them doing that and if they do I doubt it will be much lower than what I'm already paying anyways.
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FYI once you take delivery all negotiating is over. They have been paid for the car. You can't convert or go back for the latest deal. If they lower the price tomorrow and you bought last week and have taken delivery its too late. The finance agreement is beteween you and the bank. Lucid might have subsidied the financing but has been paid by the finance institution and you have signed a contract for whatever term and interest rate you agreed to with the bank.
The only way to do a lease would be to purchase a differnt car and sell your current car on the open market. Based on what you said you have left to pay in years(6) you are more than likely very underwater vs the payoff.
The only way to do a lease would be to purchase a differnt car and sell your current car on the open market. Based on what you said you have left to pay in years(6) you are more than likely very underwater vs the payoff.