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Lease Deals are INSANELY GREAT

Just for the heck of it, I looked up the least expensive '25 Pure available now (in NorCal). Cash price is $68,525, includes destination/doc fee, and also includes the $7,500 Air credit. But it does not seem to include the $4,000 "available now" credit or $3,000 Dream Drive credit, which would bring the actual sales price to $61,525(excl. taxes).! Is that right?
 
Zinee said:
Just for the heck of it, I looked up the least expensive '25 Pure available now (in NorCal). Cash price is $68,525, includes destination/doc fee, and also includes the $7,500 Air credit. But it does not seem to include the $4,000 "available now" credit or $3,000 Dream Drive credit, which would bring the actual sales price to $61,525(excl. taxes).! Is that right?
Click to expand...
Dream drive credit is only for cars that doesn’t have DD premium and I thought they were done with those. Onsite credit for in stock should be available. Reach out to Lucid sales and they should be able to figure this out for you.
 
tonybot said:
Dream drive credit is only for cars that doesn’t have DD premium and I thought they were done with those. Onsite credit for in stock should be available. Reach out to Lucid sales and they should be able to figure this out for you.
Click to expand...
You are correct. I missed that the DD credit only applies to remaining '25 inventory with basic DD.
 
The on site credit is only if it's in your local delivery center for pickup, not just available somewhere.
 
rfc805 said:
The on site credit is only if it's in your local delivery center for pickup, not just available somewhere.
Click to expand...
Actually, as long as you pick it up at the location. By way of example, if I wanted to pick one up in a different state than where I live and then drive it home and/or have it shipped, I am pretty sure that you get the credit because I almost did that with one in Florida (I live in NJ) and I was going to get the credit.
 
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Blue Lectroid said:
The total lease related fees that I am paying on a fully loaded Air GT for the optionality of handing the car back in 36 months (i.e., the costs above a cash deal) are:

$995 Acquisition Fee
$225 Processing Fee
$450 Lease Return OR Purchase Fee
$245.61 Rent Charge

Total is $1,915.61 more than a cash deal, BUT, the $7500 EV Credit completely wipes this out and leaves you significantly better off (in my case almost $5600 better off) than buying in cash!
Click to expand...
I happened to see this again as a "similar thread" under a more recent discussion, and I decided to click in and see what you'd been so psyched about, because for me, the costs of the lease FAR outstripped the $7500 EV credit. It was quickly apparent that your "rent charge" was indeed INSANELY GREAT compared to mine....

For my AT, during that same December IncentivesPalooza, the Rent Charge was--hold onto your hat--$7697! No idea how that disparity makes any sense at all. (Unless: Did you aggressively negotiate that down, or was that just what the Lease Contract came with? I am sorely lacking in the hard-nose department...)

Add in the other fees, and at over $9100 of lease costs, it was clear I'd want to do an outright purchase--I was quite sure I'd purchase it after the lease, as I expect it'll take more than 3 years for next-gen battery tech to mature, so the lease path was only worth looking at if the end result was cheaper (it only was if also considering the benefit of earning $ on the ~50K residual for 3 years....which is real, but owning felt better anyway). Obviously I'm taking on the risk/likelihood of resale price being disappointing when that time comes, but I like not fretting about dings or stickers, etc, and definitely like having the flexibility to sell whenever I'm ready--soon if I feel I've made some unlikely mistake, or much later--I might just ride this pony for a decade! Time will tell.

To add a further level of Bizarro-world to the whole thing was that as I reviewed the Lease agreement to document all this for myself as I shifted to the purchase path, I noticed two places where the Lease Contract (quietly) specified that there was NO purchase option at the end of the lease!?!...though the Residual Value was part of the more prominent calculation section, that was just "used in calculating your base monthly payment" with no purchase option. Natick sales folks were befuddled by that too (though a mention that they'd seen it one other time)--but it was a moot point as I was heading the other direction. If I wasn't such a naively trusting fellow, I might feel like I was being herded into a purchase..... But as I say, I'm nothing but glad to be the owner of this fine vehicle!
 
jedwin said:
I happened to see this again as a "similar thread" under a more recent discussion, and I decided to click in and see what you'd been so psyched about, because for me, the costs of the lease FAR outstripped the $7500 EV credit. It was quickly apparent that your "rent charge" was indeed INSANELY GREAT compared to mine....

For my AT, during that same December IncentivesPalooza, the Rent Charge was--hold onto your hat--$7697! No idea how that disparity makes any sense at all. (Unless: Did you aggressively negotiate that down, or was that just what the Lease Contract came with? I am sorely lacking in the hard-nose department...)

Add in the other fees, and at over $9100 of lease costs, it was clear I'd want to do an outright purchase--I was quite sure I'd purchase it after the lease, as I expect it'll take more than 3 years for next-gen battery tech to mature, so the lease path was only worth looking at if the end result was cheaper (it only was if also considering the benefit of earning $ on the ~50K residual for 3 years....which is real, but owning felt better anyway). Obviously I'm taking on the risk/likelihood of resale price being disappointing when that time comes, but I like not fretting about dings or stickers, etc, and definitely like having the flexibility to sell whenever I'm ready--soon if I feel I've made some unlikely mistake, or much later--I might just ride this pony for a decade! Time will tell.

To add a further level of Bizarro-world to the whole thing was that as I reviewed the Lease agreement to document all this for myself as I shifted to the purchase path, I noticed two places where the Lease Contract (quietly) specified that there was NO purchase option at the end of the lease!?!...though the Residual Value was part of the more prominent calculation section, that was just "used in calculating your base monthly payment" with no purchase option. Natick sales folks were befuddled by that too (though a mention that they'd seen it one other time)--but it was a moot point as I was heading the other direction. If I wasn't such a naively trusting fellow, I might feel like I was being herded into a purchase..... But as I say, I'm nothing but glad to be the owner of this fine vehicle!
Click to expand...
Wow, that really IS bizarrely different than my lease. Is it possible that your’s was from a different leasing company at the time? Exactly when in December were you doing the analysis?
 
It was over the last week of December. Monday the 16th is when they contacted me about the AT in the Arizona lot that matched the options I'd ordered for a Pure (due in March). The 23rd, is when the paperwork began on the credit app; I think that was when the car was on site in Natick and they were confident they could get it to me by the 31st. The 27th is when (after cycling through the Lucid credit app system for the 2nd time that week), I got the Lease Contract. Along the way, as part of my getting my insurance lined up before the weekend, my insurer wanted to know the name of the leasing company; I was told it was "Tyron Vehicle Licensing Trust" in Williamsville NY. When the lease arrived on the 27th, the Lessor was Lucid Group, Scottsdale; Lucid would assign ownership to Tyron until the end of the lease. (BofA is mentioned in passing at the very end, in ways that seem to imply Tyron may be affiliated with BoA; otherwise, no indication of this being a BoA lease).

The late-in-the-day Friday shift to purchasing delayed completion of payment until Monday, and the car arrived Tuesday the 31st, nick'o'time!

So one perhaps "different" element was that perhaps in Lucid-world, I was buying it directly from HQ in Scottsdale, rather than from the local studio, outside Boston--or from the Plainview NY distribution center, where many/most leases and sales to Maine run through (due to complications in Mass for out-of-state buyers).

A Mystery....
 
jedwin said:
It was over the last week of December. Monday the 16th is when they contacted me about the AT in the Arizona lot that matched the options I'd ordered for a Pure (due in March). The 23rd, is when the paperwork began on the credit app; I think that was when the car was on site in Natick and they were confident they could get it to me by the 31st. The 27th is when (after cycling through the Lucid credit app system for the 2nd time that week), I got the Lease Contract. Along the way, as part of my getting my insurance lined up before the weekend, my insurer wanted to know the name of the leasing company; I was told it was "Tyron Vehicle Licensing Trust" in Williamsville NY. When the lease arrived on the 27th, the Lessor was Lucid Group, Scottsdale; Lucid would assign ownership to Tyron until the end of the lease. (BofA is mentioned in passing at the very end, in ways that seem to imply Tyron may be affiliated with BoA; otherwise, no indication of this being a BoA lease).

The late-in-the-day Friday shift to purchasing delayed completion of payment until Monday, and the car arrived Tuesday the 31st, nick'o'time!

So one perhaps "different" element was that perhaps in Lucid-world, I was buying it directly from HQ in Scottsdale, rather than from the local studio, outside Boston--or from the Plainview NY distribution center, where many/most leases and sales to Maine run through (due to complications in Mass for out-of-state buyers).

A Mystery....
Click to expand...
It’s not really a mystery. The money factor and residual are different for the Pure, Touring, GT, 18 month, 36 month, etc…all the variables can make major swings in the interest rates and residuals.

Lucid has historically gone back and forth with high interest rate/high residual and low interest rate/low residual leases. The payments tend to stay about the same, but the structure changes substantially
 
momo3605 said:
It’s not really a mystery. The money factor and residual are different for the Pure, Touring, GT, 18 month, 36 month, etc…all the variables can make major swings in the interest rates and residuals.

Lucid has historically gone back and forth with high interest rate/high residual and low interest rate/low residual leases. The payments tend to stay about the same, but the structure changes substantially
Click to expand...
Completely agree. Based on @jedwin’s answer above I am thinking that the money factor (interest rate) and residual structures are likely different at for different models (and even at different times). I too bought “factory direct” as a car with my specs was only available that way.

It’s always key to look at ALL of the numbers for each of the three options presented (Buy, Lease, Finance with a Loan). My AGT is the first car I have leased in over 25 years and I did it for two reasons…

1. The optionality of handing the car back at the end of 36 months (a midsized Lucid SEDAN would totally be my dream!)

2. When the $7,500 EV Credit was factored in, leasing and exercising the purchase option at the specified residual value was cheaper than buying in cash — not even including the return I can earn on the value of the residual over the next 36 months. It was truly a no brainer.
 
momo3605 said:
It’s not really a mystery. The money factor and residual are different for the Pure, Touring, GT, 18 month, 36 month, etc…all the variables can make major swings in the interest rates and residuals.

Lucid has historically gone back and forth with high interest rate/high residual and low interest rate/low residual leases. The payments tend to stay about the same, but the structure changes substantially
Click to expand...
I can see this. And perhaps especially for vehicles that are at risk of languishing in Scottsdale, they might be especially aggressive on reducing lease costs. While my AT and the OP‘s AGT were being pitched to us at almost the same time, both for 36 mo, they may well have had more of an overstock of his vehicle. My AT was relatively fresh off the assembly line, just a month before. It also wasn’t quite as fully loaded (I skipped 20 inch wheels and SSP), so those revenues for Lucid were less in mine.

Still, a remarkably wide variation—so yes, a close look at the numbers is key!
 
jedwin said:
It was over the last week of December. Monday the 16th is when they contacted me about the AT in the Arizona lot that matched the options I'd ordered for a Pure (due in March). The 23rd, is when the paperwork began on the credit app; I think that was when the car was on site in Natick and they were confident they could get it to me by the 31st. The 27th is when (after cycling through the Lucid credit app system for the 2nd time that week), I got the Lease Contract. Along the way, as part of my getting my insurance lined up before the weekend, my insurer wanted to know the name of the leasing company; I was told it was "Tyron Vehicle Licensing Trust" in Williamsville NY. When the lease arrived on the 27th, the Lessor was Lucid Group, Scottsdale; Lucid would assign ownership to Tyron until the end of the lease. (BofA is mentioned in passing at the very end, in ways that seem to imply Tyron may be affiliated with BoA; otherwise, no indication of this being a BoA lease).

The late-in-the-day Friday shift to purchasing delayed completion of payment until Monday, and the car arrived Tuesday the 31st, nick'o'time!

So one perhaps "different" element was that perhaps in Lucid-world, I was buying it directly from HQ in Scottsdale, rather than from the local studio, outside Boston--or from the Plainview NY distribution center, where many/most leases and sales to Maine run through (due to complications in Mass for out-of-state buyers).

A Mystery....
Click to expand...
That sounds like quite the rollercoaster of paperwork and logistics! It’s definitely a bit unusual having it come straight from Lucid HQ instead of the local studio, but I guess it’s all part of the process when you're dealing with a brand that’s still figuring out its distribution flow. The whole Tyron thing is a bit mysterious, too maybe it's a way to simplify lease ownership or tax purposes. Either way, glad it all came together in the end, just in time for New Year's
 
Yeah, I have been worrying about this for a while. My sales advisor sent me another insane lease deal over the weekend; lease an Air Pure for $525 a month with nothing but taxes due at signing, for 18 months? Maybe I misread it (I didn't look that in depth) but if that's the deal someone is taking it on the chin.

Hopefully I only have ~6 months to wait for my Gravity and so I have no need of an 18-month lease but damn, it's almost worth it just to have a play vehicle.
 
momo3605 said:
My 2023 Air Touring has a $72k residual value in 3 months and the market value is around $50k…definitely not buying that out lol
Click to expand...
Yeah, Lucid shipped ~20kU of the Air from 2021-2024. As many noted a lot of the shipment in the last 12-18mo are incredible lease deals. The erosion on the residual value is terrible!

As Gravity ramps and the mid-size is in the offing, I wonder how the economics is going to work!
 
I have six months to go on my air gt lease, I wonder how aggressive Lucid will be to retain me. will they offer to pull me out of this lease early to get me into a new car? will there be any current leasees specials? one of the reasons I went with Lucid was the decent lease deals that were being offered. I am beginning to think about what car is next, the contenders are the Lucid, Taycan or it's Audi clone and maybe downsizing to a BMW I4. My wife's IPace lease runs out at the same time but Jaguar is willing to extend the lease on a month by month basis for six months so there isn't as big of a rush on that car.
 
kort6776 said:
will they offer to pull me out of this lease early to get me into a new car? will there be any current leasees specials?
Click to expand...
That’s the last thing they’ll do. If they do anything they may try to offer you a cheaper buy out, or get you to extend your lease. (But I haven’t seen any evidence of this yet. I’m sure people will be hitting 18 months soon.) Getting you into another subsidized lease only doubles their losses from you.
 
momo3605 said:
That’s the last thing they’ll do. If they do anything they may try to offer you a cheaper buy out, or get you to extend your lease. (But I haven’t seen any evidence of this yet. I’m sure people will be hitting 18 months soon.) Getting you into another subsidized lease only doubles their losses from you.
Click to expand...
isn't the idea of the subsidies to move cars? I still see a lot of cars sitting. if a new air gt is similar in cost to a taycan, I'd have to make hard choices.
 
kort6776 said:
I have six months to go on my air gt lease, I wonder how aggressive Lucid will be to retain me. will they offer to pull me out of this lease early to get me into a new car? will there be any current leasees specials? one of the reasons I went with Lucid was the decent lease deals that were being offered. I am beginning to think about what car is next, the contenders are the Lucid, Taycan or it's Audi clone and maybe downsizing to a BMW I4. My wife's IPace lease runs out at the same time but Jaguar is willing to extend the lease on a month by month basis for six months so there isn't as big of a rush on that car.
Click to expand...
I believe our lease contracts indicate a 5 month extension is possible.
 
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