Lease Discounts for inventory or Demo cars possible?

[momo3605]

I've seen the lease specials going on, and while they are significantly better than before, but the down payments are gigantic. Once you make them 0 down, the payments are actually quite large. Are there any options to get into a Pure or Touring with additional discounts? I see there is a referral discount of $1k which helps...i've also seen some posts of 2022 inventory that was heavily discounted, as well as demo cars that are like $10k off? Is there any way to lease old inventory or demo cars to get the payments down a bit?

Thanks!

 

[Uncle_Scary]

It looks like they just started an "Air Discount" of $7500; probably only for existing inventory.

 

[momo3605]

It looks like they just started an "Air Discount" of $7500; probably only for existing inventory.

I saw that! So they essentially dropped the price of the Lucid by 7500-10k depending on trim BUT looks like it doesn't apply to leases. The leases are looking quite bad now. You don't get the pro credit or the air credit. So if you were to lease and buy you'd pay $15k more than someone getting the discounts by buying upfront.

 

[dingo]

It DOES apply to leases -- I just did this myself.

If you choose from available builds, you will get the 7500 off + an added discount.

I put ~4k down, ended up with a payment in the mid 800s. Cheaper than my model Y Performance was in 2020, and a similar spec'd one today. I'd chat with someone at your local studio, once you are approved for the Lease, you'll get access to a page from BOA (who are handling LFS) which has inputs you can modify to achieve a payment to your liking.

You should also be aware there are additional fees and taxes.

 

[momo3605]

It DOES apply to leases -- I just did this myself.

If you choose from available builds, you will get the 7500 off + an added discount.

I put ~4k down, ended up with a payment in the mid 800s. Cheaper than my model Y Performance was in 2020, and a similar spec'd one today. I'd chat with someone at your local studio, once you are approved for the Lease, you'll get access to a page from BOA (who are handling LFS) which has inputs you can modify to achieve a payment to your liking.

You should also be aware there are additional fees and taxes.

What kind of discount did you get in addition to the 7500 federal rebate pass through? I did go to the studio, talked to a rep extensively in person and over text and they said the price on the website is what you pay. For a lease there is a $7500 rebate. If you purchase, you get like $12k in Pro Credits AND $7500 in Air Credits.

There are apparently some steep demo discounts, but they don't lease them. If you did manage to get an added discount to the fed rebate, maybe you can share your Lucid "guide's" info? Lol idk what they're called.

 

[LVAGT]

Look at the price of the GT in the used market, it's depreciated heavily. A year-old can't sell for more than $90k. If you don't intend to keep the car for a long period, I'd still go with the lease.

 

[Rossb2k]

It DOES apply to leases -- I just did this myself.

If you choose from available builds, you will get the 7500 off + an added discount.

I put ~4k down, ended up with a payment in the mid 800s. Cheaper than my model Y Performance was in 2020, and a similar spec'd one today. I'd chat with someone at your local studio, once you are approved for the Lease, you'll get access to a page from BOA (who are handling LFS) which has inputs you can modify to achieve a payment to your liking.

You should also be aware there are additional fees and taxes.

It does not apply to leases. It says cash or loan only. If you do the loan calculator for a lease there is a 7500 discount, but that is the "plug in electric vehicle savings" which is not new.

 

[momo3605]

Look at the price of the GT in the used market, it's depreciated heavily. A year-old can't sell for more than $90k. If you don't intend to keep the car for a long period, I'd still go with the lease.

yup agreed, but they will depreciate a lot more with the November discounts.

Still...i think buying a new one might make more sense. A new GT with all the packages is $117k as of Nov 1 with $22k in discounts.

If you do the "special" 18 month lease, it will cost $27,000. ($10,500 down + $920*18). But you didn't get the discounts...you will still owe $110k to buy it out, so you'll have at least -$20k in equity at that point.

Unfortunately, I think there is no winning for Lucid right now. They could give lessees the additional discounts, but then they'd take a bath trying to resell them after the lease term.

 

[LVAGT]

yup agreed, but they will depreciate a lot more with the November discounts.

Still...i think buying a new one might make more sense. A new GT with all the packages is $117k as of Nov 1 with $22k in discounts.

If you do the "special" 18 month lease, it will cost $27,000. ($10,500 down + $920*18). But you didn't get the discounts...you will still owe $110k to buy it out, so you'll have at least -$20k in equity at that point.

Unfortunately, I think there is no winning for Lucid right now. They could give lessees the additional discounts, but then they'd take a bath trying to resell them after the lease term.

Looks like you have your mindset already. Best of luck! I personally don't keep cars longer than 5 years so lease makes more sense to me.

 

[DBV]

yup agreed, but they will depreciate a lot more with the November discounts.

Still...i think buying a new one might make more sense. A new GT with all the packages is $117k as of Nov 1 with $22k in discounts.

If you do the "special" 18 month lease, it will cost $27,000. ($10,500 down + $920*18). But you didn't get the discounts...you will still owe $110k to buy it out, so you'll have at least -$20k in equity at that point.

Unfortunately, I think there is no winning for Lucid right now. They could give lessees the additional discounts, but then they'd take a bath trying to resell them after the lease term.

I still think the 18 mos lease is the best deal, especially on the Grand Touring. The Grand Touring on the 18 mos lease is not that much more than a Touring, unless I am missing something. Unless you are going to buy the car and keep it long term and run it in the ground, then the buy would be best, as you don’t have to worry about resale. Who knows though, maybe I am wrong.

Someone above mentioned about additional demo discounts? Has anyone seen that this month, as I have not yet.

 

[momo3605]

I still think the 18 mos lease is the best deal, especially on the Grand Touring. The Grand Touring on the 18 mos lease is not that much more than a Touring, unless I am missing something. Unless you are going to buy the car and keep it long term and run it in the ground, then the buy would be best, as you don’t have to worry about resale. Who knows though, maybe I am wrong.

Someone above mentioned about additional demo discounts? Has anyone seen that this month, as I have not yet.

Yea you are right about that. The GT lease is $27k over 18 months and the Touring is $24k (apples to apples with glass canopy). I think last month there was enough logic in leasing to buy with the 0% interest, but you're losing out on $15k in discounts as of November. So if you want to lease...no change...if you want to buy, enjoy the new Air Credits!

 

[DBV]

Yea you are right about that. The GT lease is $27k over 18 months and the Touring is $24k (apples to apples with glass canopy). I think last month there was enough logic in leasing to buy with the 0% interest, but you're losing out on $15k in discounts as of November. So if you want to lease...no change...if you want to buy, enjoy the new Air Credits!

Crazy to me that the 18 mos lease makes the GT so close to the Touring. Not sure how Lucid is doing that. And you are correct about buying. Make sense.

 

[donfenn]

I just dropped my Air Pure off at Beverly Hills location today and the showroom rep told me there were likely going to be "additional holiday season" discounts at any minute. I also think the leases under the prior Sept-October promotion period were incredibly good deals... The money factor on these leases makes them unbeatable.

 

[momo3605]

I just dropped my Air Pure off at Beverly Hills location today and the showroom rep told me there were likely going to be "additional holiday season" discounts at any minute. I also think the leases under the prior Sept-October promotion period were incredibly good deals... The money factor on these leases makes them unbeatable.

I wouldn't say unbeatable...it was 0% interest, but that only matters if you planned to buy at the end. Payment was still high after accounting for the $8-10k downpayment. As a lease that you plan to return, it's ok at best

 

[donfenn]

I have leased nice cars for most of my life...You either pay down some cap reduction or have a higher payment... Hard to have no drive off, no interest and a low lease payment... You pay one way or another. I actually put down less money on my Air Pure and let them hike my monthly payment a bit... No sense in prepaying too much when you can earn more then 5%+ on a T bill --while they have 0% lease factor money. With respect to buying, I would be scared after seeing the huge depreciation and continued price cuts on these cars.. This could be compounded if you have even the slightest doubt about Lucid's long term viability

 

[momo3605]

I have leased nice cars for most of my life...You either pay down some cap reduction or have a higher payment... Hard to have no drive off, no interest and a low lease payment... You pay one way or another. I actually put down less money on my Air Pure and let them hike my monthly payment a bit... No sense in prepaying too much when you can earn more then 5%+ on a T bill --while they have 0% lease factor money.

Yea...i mean it depends...in the old days, there used to be great leases on 7 series's and stuff. Now we're starting to see a lot of EV deals...EQS, etron GT, IX for instance are leasing really cheap with little to no downpayment. Model S has a lower MSRP but it's lease payment is about on par with the Lucid's right now.

 

[donfenn]

Actually if you price out Model S lease right now against the Lucid Air the lease payments will be lower on Lucid Air--regardless of window price.. Tesla's lease money factor is higher.

 

[momo3605]

Does anyone know if you can apply a referral discount to an 18 month lease? And also, does anyone have a referral code i can use? lol

 

[joec]

Does anyone know if you can apply a referral discount to an 18 month lease? And also, does anyone have a referral code i can use? lol

Our codes appear in our profiles. Tap my avatar and you’ll see mine. (For instance.)

 

[BS8899]

I met a guy with a new Lucid (it was either an Air Touring or a Pure) at the Novato CA EA charging station. He got his car a few months ago. It is a lease. He said it came with 3 years of EA free charging, no DD or other fancy options.

He loves his Lucid. He said he reboots it every Monday morning and had not experienced any significant SW issues. He owned multiple Teslas.

He rifled off a bunch of numbers regarding his lease. Bottom line, with the 3-year free EA charging, he said his net cost is $299/mo. He is laughing his way to the bank!