Getting out of lease early

[Murcie]

Hey guys,

I've honestly been pretty disappointed with the car and am trying to get out my lease early. Anybody have any tips and tricks for getting out of the lease early? I would be down to transfer my lease/ownership to someone else if they are interested. Let me know!

Try CarMax, I’ve read somewhere that someone sold his leased Lucid to them.

 

[LucidPez]

By the way, I got my early lease break fee request from lucid. There really was none. There was a $450 vehicle turn in fee and of course all remaining lease payments. So it’s not really a penalty as I’m fairly sure that’s the standard turn in fee.

 

[rfc805]

I'm pretty sure everyone will let you out of your lease if you pay the full term.

I *think* you are able to request an appraisal on the shortened depreciation to lower what you owe, which then is more of an "early termination penalty"

 

[marsarbu]

What if you try to "lemon" the car? If it sits in service for a certain amount of time and/or they cannot fix certain issues, you can lemon it. There is a law for this, at least in California.

Sorry to hear you are that unhappy, the car has its fair share of issues and you either have to be lucky or a big fan to fully enjoy it. Good luck!

 

[bikeriderbryan]

What if you try to "lemon" the car? If it sits in service for a certain amount of time and/or they cannot fix certain issues, you can lemon it. There is a law for this, at least in California.

Sorry to say I might have to go this route as well.

 

[PhotoEye]

Sorry to say I might have to go this route as well.

Reading from the beginning of this thread, a basis for Lemon Law application is not apparent to me. You're just not happy with the car and want to return to an ICE vehicle -- your choice, not the Lucid's functional failure. Just my opinion.

 

[bikeriderbryan]

Reading from the beginning of this thread, a basis for Lemon Law application is not apparent to me. You're just not happy with the car and want to return to an ICE vehicle -- your choice, not the Lucid's functional failure. Just my opinion.

I never said I want to return to an ICE car. You replied to the wrong post. Please re-read and reply to the correct post.

 

[PhotoEye]

Reading from the beginning of this thread, a basis for Lemon Law application is not apparent to me. You're just not happy with the car and want to return to an ICE vehicle -- your choice, not the Lucid's functional failure. Just my opinion.

You are correct. I tagged my reply to your message but was referring to Knea's original post that got this thread started. My Bad!

 

[momo3605]

By the way, I got my early lease break fee request from lucid. There really was none. There was a $450 vehicle turn in fee and of course all remaining lease payments. So it’s not really a penalty as I’m fairly sure that’s the standard turn in fee.

You broke out of your lease? Why? I'm sad to hear it went that way. I remember how excited you were when you were still considering the move from your etron!

So you ended up paying all the remaining lease payments? I'm not sure it's worth it to return it if you have to pay all the payments anyway

 

[LucidPez]

You broke out of your lease? Why? I'm sad to hear it went that way. I remember how excited you were when you were still considering the move from your etron!

So you ended up paying all the remaining lease payments? I'm not sure it's worth it to return it if you have to pay all the payments anyway

I did not. I inquired because I wanted to see what the fee would be and it ended up not being anything

I'm pretty sure everyone will let you out of your lease if you pay the full term.

I *think* you are able to request an appraisal on the shortened depreciation to lower what you owe, which then is more of an "early termination penalty"

Well according to the lease contract there is still an early termination fee as you are giving back a car they didnt expect early. Many leases have these built in.

Here is US Banks for example: https://www.usbank.com/vehicle-loans/auto-loans/auto-leasing/returning-a-leased-vehicle-early.html

Most appraisals these days will result in values much lower than current peoples residuals. Trading in Lucid's just doesnt work. I mean, trading in EVs in general just doesn't work out for most. Nearly all will be upside down. The cars dont hold value.

 

[momo3605]

I did not. I inquired because I wanted to see what the fee would be and it ended up not being anything

Paying all remaining payments is the break fee. Quite substantial too. Especially because there is no downside for Lucid. They get the car back newer with less miles and in better shape.

 

[LucidPez]

Paying all remaining payments is the break fee. Quite substantial too. Especially because there is no downside for Lucid. They get the car back newer with less miles and in better shape.

That’s any lease. There is typically another penalty that Lucid notes in the contract is what I’m saying.