Financing Rates - 2023

[NewEnglander]

So far a 120k car you would save rougly 30k over 72 months vs 5% financing. Pretty damn good!

Not sure how you are arriving at 30K but my math is different. Let's say you take a loan for 100K. Over 6 years, your average loan on which you are paying interest is 50k as you are repaying loan down to zero over 6 years. The current interest rate is ~5% on savings account. So if i take this loan, I save 4% . 4% x 50k x 6 years = 12K gain. Now if you can invest that money and make more than this 4% delta, then obviously you can do much better than 12K. It's still a pretty good offer for anyone buying and Lucid is really thinking smart through this offer as others have stated.

 

[travelermark]

Just to follow up, I managed to finalize everything with the 0.99% financing. For details, I was a two year reservation holder, finalized order in Aug and taking delivery tomorrow. Pleasantly surprised by the rate as the best I had found was 4.25%.

 

[quantum]

Not sure how you are arriving at 30K but my math is different. Let's say you take a loan for 100K. Over 6 years, your average loan on which you are paying interest is 50k as you are repaying loan down to zero over 6 years. The current interest rate is ~5% on savings account. So if i take this loan, I save 4% . 4% x 50k x 6 years = 12K gain. Now if you can invest that money and make more than this 4% delta, then obviously you can do much better than 12K. It's still a pretty good offer for anyone buying and Lucid is really thinking smart through this offer as others have stated.

You are right, I stand corrected, I didn't account for the amoritization.

 

[Adidas]

I wonder what the rate is on the Pure? I just got a VIN

 

[PureVA]

I just called Lucid Sales and they were insistent that the new financing special was not good for legacy pricing. I was seriously considering upgrading from the Pure to the Touring for this incentive as they have one available with my colors, but they lost a chance at an upgrade here. Curious how travelermark was able to get the .99% financing.

 

[Impatient7536]

I just called Lucid Sales and they were insistent that the new financing special was not good for legacy pricing. I was seriously considering upgrading from the Pure to the Touring for this incentive as they have one available with my colors, but they lost a chance at an upgrade here. Curious how travelermark was able to get the .99% financing.

in churning, we have a phrase called HUCA, hang up call again. frequently, the right hand does not talk to the left hand, so you keep trying different paths (nicely within reason) and hope that you want gets through for one reason or another.

i'm in a similar boat, so really interested in seeing how this works out. maybe try your DA instead of sales to see what they say or can do, or try going through with the purchase all the way to financing and maybe they'll soften their stance, or maybe call lucid financing or BOA and see what they say when it's time for your to finalize everything.

 

[Viking]

I just called Lucid Sales and they were insistent that the new financing special was not good for legacy pricing. I was seriously considering upgrading from the Pure to the Touring for this incentive as they have one available with my colors, but they lost a chance at an upgrade here. Curious how travelermark was able to get the .99% financing.

Assuming this is true, unlike last time the legacy pricing is not available with the incentive, has anyone done the math? Is it better (less cost) to get a 3 Yr. lease on a Touring with the incentive, but not legacy pricing? Or better to forgo the incentive and keep the legacy pricing for a Pure order to a Touring using the more expensive lease?

 

[PureVA]

in churning, we have a phrase called HUCA, hang up call again. frequently, the right hand does not talk to the left hand, so you keep trying different paths (nicely within reason) and hope that you want gets through for one reason or another.

i'm in a similar boat, so really interested in seeing how this works out. maybe try your DA instead of sales to see what they say or can do, or try going through with the purchase all the way to financing and maybe they'll soften their stance, or maybe call lucid financing or BOA and see what they say when it's time for your to finalize everything.

Thanks. I asked my SA at my local sales center instead of the corporate sales line to ask nicely what they can do. Since my reservation is for a Pure, if I try to order the Touring online it's like starting a new order starting with a new $1,000 deposit without legacy pricing. I would like some confirmation of legacy pricing or instructions from Lucid before going that route and hoping the new order will somehow be converted in the future.