Financing options

[Sappy02]

Any idea if Lucid Motors uses multiple lending partners for their financing program?

Any experience with a lender that doesn’t ask for proof of income - similar to Tesla’s financing program?

Thank you in advance.

 

[Ksa23]

Any idea if Lucid Motors uses multiple lending partners for their financing program?

Any experience with a lender that doesn’t ask for proof of income - similar to Tesla’s financing program?

Thank you in advance.

I didnt realize Tesla didnt require proof of income.. Lucid partners with Bank of America exclusively

 

[HC_79]

BoA only so you’d need to find a lender that doesn’t require proof of income but good luck with that.

 

[Overcharged]

The B of A rates are in the upper 4s, no news and not great
My local credit union is at 3.19% for 60 months and 3.39% for 72 months
I haven't heard back from my banker at Chase, in the past they liked to undercut my credit union so it may get a touch better

 

[Spaniard]

To any of you who used lease financing for your Grand Turing, can you tell me what the residual value of the car was?
My order is for the Grand Turing at the original price before the increase.
I am trying to decide whether pay car or lease the vehicle. Thanks

 

[Navy06]

The B of A rates are in the upper 4s, no news and not great
My local credit union is at 3.19% for 60 months and 3.39% for 72 months
I haven't heard back from my banker at Chase, in the past they liked to undercut my credit union so it may get a touch better

Just got a quote from B of A for 3.74% for 72 months. what credit union gave you 3.39?

 

[Overcharged]

ALEC
Abbott Labs Employees Credit union

 

[Sappy02]

ALEC
Abbott Labs Employees Credit union

Nice! Can we sign as family members since we will all be part of the Lucid family?

 

[Thinjake]

Applied via Lucid/BOA last night....4.5%. Went to BoA on my own...got 4.04%. Weird.

(Edit: LOL...sorry...typo)

 

[Overcharged]

Nice! Can we sign as family members since we will all be part of the Lucid family?

I believe all are welcome at the credit union

 

[pam4_AGT]

Went to BoA on my own...got 54.04%.

Whoa! Is the mafia running BoA now?

 

[idiot900]

Applied via Lucid/BOA last night....4.5%. Went to BoA on my own...got 54.04%. Weird.

I assume you meant 4.04%? Even in this era of rising interest rates, 54.04% is a bit over the top

 

[SDHacker]

I believe all are welcome at the credit union

Not according to their website. You either have to be an employee of Abbot or a family member of a current employee or CU member.

 

[Overcharged]

Not according to their website. You either have to be an employee of Abbot or a family member of a current employee or CU member.

Sorry about that, I thought they welcomed the public

 

[Thinjake]

Not according to their website. You either have to be an employee of Abbot or a family member of a current employee or CU member.

I can attest to this. I applied today and afterwards, received a call asking how I was eligible to be a member. Requirements are working for AB or having a family member that does.

 

[SDHacker]

36 months @ 1.99%
72 months @ 2.99%

To become a member, you must:

• Live in California and be a current or retired educator, school employee, alumni association member or PTA member
  OR
• Live or work in San Diego, Riverside or Orange County, CA (strange LA isn't included since they have branches all over LA)
  OR
• Have an immediate family or household member who is a California Credit Union member (for San Diegans, you would know it as North Island CU)

Cannot apply for loan online because the drop down list of makes does not include Lucid (required field). I'll do a chat session tomorrow morning to see if I have to go into a branch. I had a chat session with them earlier in the week and there are no fees associated with applying. CSR said it's faster if you apply in a branch (in terms of getting a decision on the loan - 2 days).

 

[Bus Driver]

36 months @ 1.99%
72 months @ 2.99%

To become a member, you must:

• Live in California and be a current or retired educator, school employee, alumni association member or PTA member
  OR
• Live or work in San Diego, Riverside or Orange County, CA (strange LA isn't included since they have branches all over LA)
  OR
• Have an immediate family or household member who is a California Credit Union member (for San Diegans, you would know it as North Island CU)

Cannot apply for loan online because the drop down list of makes does not include Lucid (required field). I'll do a chat session tomorrow morning to see if I have to go into a branch. I had a chat session with them earlier in the week and there are no fees associated with applying. CSR said it's faster if you apply in a branch (in terms of getting a decision on the loan - 2 days).

Did you make any progress with CCU? I’m thinking about applying. Thanks.

 

[DaveyBoyGT]

I thought at first, I shouldn't post this for fear that some Forum members might get really pissed off. I got my loan approved for the full amount on 8/30, one day before the end of the auto loan sale at Carolinas Telco FCU. I got 1.99% for 60 months. That same loan is now 3.64% at 60 months. Carolina Cooperative FCU has a loan rate of 3.25% for 72 months (with a credit score of 780) which is pretty good for the current borrowing climate, but you need to join the NC Consumers Council for $20 to join the credit union. Happy borrowing!

 

[JerseyStrong]

On some earlier posts folks were mentioning a credit union in the Carolinas with great rates with no restrictions on membership.

 

[DaveyBoyGT]

On some earlier posts folks were mentioning a credit union in the Carolinas with great rates with no restrictions on membership.

The two I mentioned plus Carolina Metro FCU all have good rates. Check them out if you're still looking.