End of Lease - Final Payment under collections

[acader]

I completed by 18-month Lucid Lease on 6/30/2025. I turned in the car on 6/30/2025 in NJ and went through the inspection as well. Everything was OK and the showroom said that Lucid Financial Services will send out a final invoice. About 5 days ago I got the final invoice called as "Lease Termination Invoice". Since I was traveling, I saw the mail today, 8/4/2025, and called to make the payment. I was shocked to find out that the payment was under collections. I've never missed a single payment, never made a late payment and the way Lucid calling this as "collections" is ridiculous. When I spoke to the agent, she was reading off of a script and could not help. She insisted that it was collections.

The car itself was a dud and now to hear that this was in collections is a slap on the face.

 

[thyname]

How much was the invoice for?

Are you new here? It’s been reported that Bank of America, who handles all Lucid leases, sends all final invoices automatically to their collections partner.

 

[acader]

I am not entirely new here since I've ranted a few times before about the lemon, er Lucid, that I got. I find it ridiculous and insulting that the final invoices are automatically sent to collections. Letter says "due on receipt". It was mailed on 7/11/25. With the USPS delays, I must have got it on 7/30/25. Came home last night and wanted to take care of it right away. BTW, all the monthly payments were on autopay and not a single day late.

 

[Steveinarizona]

How much was the invoice for?

Are you new here? It’s been reported that Bank of America, who handles all Lucid leases, sends all final invoices automatically to their collections partner.

It makes me wonder: when B of A does that, does it negatively impact on the lessee's credit rating?

And he joined in January of 2024 so he is relatively new here.

Assuming Lucid is innocent, B of A has really screwed up Lucid's reputation and possibly its future sales.

 

[jedwin]

Why wouldn’t they just take the final these payment by the same auto pay method? Layers of an annoyance here!

As a reminder to the OP: it’s not Lucid sending or “calling“ it collections. It’s BOA. Likewise, the agent you spoke to is not Lucid, and was likely indeed from the collections company that BOA sent it to as part of their bogus process.

 

[sri]

Seems BOA want to get Lucid down so that their analyst is correct on the stock rating
I think Lucid needs to take this serious before BOA damages their reputation for customer service.

 

[acader]

Why wouldn’t they just take the final these payment by the same auto pay method? Layers of an annoyance here!

As a reminder to the OP: it’s not Lucid sending or “calling“ it collections. It’s BOA. Likewise, the agent you spoke to is not Lucid, and was likely indeed from the collections company that BOA sent it to as part of their bogus process.

I've been leasing for more than 20 years and I've seen that some Financial Institutions do not collect the last payment via auto pay. I get a final invoice and pay that amount. Nobody, I mean nobody has called it "collections". In fact, if you call the number 833-423-0369 and press the option to make a payment, it will take you to "ARS Portfolio Services". The automated message itself says that it is an attempt to collect a debt. BTW, the final amount was $450.

 

[thyname]

I've been leasing for more than 20 years and I've seen that some Financial Institutions do not collect the last payment via auto pay. I get a final invoice and pay that amount. Nobody, I mean nobody has called it "collections". In fact, if you call the number 833-423-0369 and press the option to make a payment, it will take you to "ARS Portfolio Services". The automated message itself says that it is an attempt to collect a debt. BTW, the final amount was $450.

Call yourself lucky you were not charged stupidly high fees for the lease return, just the standard lease return fee on contract. Very lucky. If you read a few threads here, many other people were not so lucky.

The final bill being sent from Bank of America to collectors automatically was reported too. I recall someone saying no impact on credit unless 90 days delinquent

 

[joec]

I get why they can’t use AutoPay for a final payment. The amount is going to vary from person to person. And you didn’t agree to have that specific amount auto-deducted. What if you wanted to dispute it?

But the collections thing is just bad. Give us an address to send a check to. But collect the money yourself. It’s like they don’t even want to be bothered.

Just terrible all around. Shows complete lack of respect for the relationship.

$450 is the standard return fee. So at least you didn’t get dinged for any bogus “damage” as others have reported.

 

[L-Dude]

$450 is the standard return fee. So at least you didn’t get dinged for any bogus “damage” as others have reported.

Yes, this could be kind of a big deal. Maybe Lucid has been able to get things straightened out?

 

[hydbob]

Call yourself lucky you were not charged stupidly high fees for the lease return, just the standard lease return fee on contract. Very lucky. If you read a few threads here, many other people were not so lucky.

The final bill being sent from Bank of America to collectors automatically was reported too. I recall someone saying no impact on credit unless 90 days delinquent

If there is no impact until 90 days delinquent I don't see a problem with BofA contracting out for collections. It has stigma to it, but in the end they are just collecting your final payment and it hasn't really been sent to "collections.". Now if you don't pay within the 90 days, whose fault is that, regardless of the company who is collecting the final payment.

 

[TriumphToo]

LFS / BoA told me that they send collections to credit agencies after 30 days delinquent, not 90 days.

 

[acader]

LFS / BoA told me that they send collections to credit agencies after 30 days delinquent, not 90 days.

I agree sending it to collections after 30/60/90 days, which is almost the norm in USA. The mail itself was dated 7/11/25, postmarked 7/14/25, received on 7/30/25. I paid it on 8/4/25. It was also marked "due on receipt". Unless somehow Lucid tracked the mail and saw that it was delivered on 7/30/25 and I did not pay it by 8:00 PM EST, this is just nonsense claiming it to be "collections".

And more importantly, any company planning to collect a debt has to send a letter in advance stating that if the balance is not paid in X days, the account will be handed over to a collection agency. (Several states including NJ have this law).

 

[thyname]

The mail itself was dated 7/11/25, postmarked 7/14/25, received on 7/30/25.

Do you live in Thailand now?