Lease Ending - Buy or Upgrade to 2025?

[marsarbu]

Tesla fanboys always spread hate against it, ignore them....they are jealous that Lucid makes a better car

I don't pay attention to the noise fans and haters generate. They are overly subjective, hence annoying static. I'm talking about market and business analysists, people that have huge incentives to get predictions right. They are not perfect, but they are the best we have. And right now, they don't see a path fwd for Lucid, unfortunately.

 

[kort6776]

I don't pay attention to the noise fans and haters generate. They are overly subjective, hence annoying static. I'm talking about market and business analysists, people that have huge incentives to get predictions right. They are not perfect, but they are the best we have. And right now, they don't see a path fwd for Lucid, unfortunately.

that sounds good on paper until you realize that many of the so called independent reviewers are getting paid by the manufacturers

 

[ChipXpert]

Well, if you realize Lucid is backed by a trillion dollar soverign fund of an oil rich Government, you will understand. They built the first automobile manufacturing plant in the Middle East...think Saudis will just let it drift away? Not only that, it has been proven that Lucid EV technology is the best....better than Tesla. So its not just a company that has a piggy bank, its a company that is the best in the world at what it does.

Tesla fanboys always spread hate against it, ignore them....they are jealous that Lucid makes a better car

I agree.
I just placed my order. The Lucid aha the most efficient motors and some of the best battery management on the market.
We owned a Fisker Ocean that was just bought back by Rivian and Chase. It actually was a great vehicle.
We decided on a sedan instead of crossover or SUV.

Wife drove a Touring and fell in love.
Chose the Touring over an i5 M60, iX and a Lyriq. The amenities and range just didn't compare. We absolutely didn't even consider a Tesla.

 

[thyname]

Anyone has actually done a Lucid lease buyout (meaning: buying their own leased Air)? I reached out to what I thought was Lucid Financial Services to the email [email protected] just to inquire, and they replied saying the following (copy / paste):

Lucid Financial Services and Bank of America are indeed separate. Once you give them a call, I'm sure you can request an official email address. Here is another number that is often used also: 833.423.0369
Thanks

So it sounds like there are three entities involved with leases:
1) Lucid Motors
2) Lucid Financial Services (sounds like owned and operated by Lucid Motors)
3) Bank of America

I have the emails exchange with names and email addresses and all, but I won't post screenshots to protect their privacy.

 

[kort6776]

what is the buyout price? I bet that it is much higher than the actual market value of the car.

 

[thyname]

what is the buyout price? I bet that it is much higher than the actual market value of the car.

Good question. My leased Air Touring is less than six months "old", on a 39-month lease, so I am really testing the waters at this point. Two reasons that make me consider this at this point, despite very well understanding that the residual value will most likely be above market price in May 2028:

1) The schiitshow with lease-return money grab from Bank of America, and
2) I am in Virginia, and we pay the sales tax upfront on the entire value of the car, and not just the lease depreciation, and if I buy my own car, I don't have to pay that tax again at all.

 

[kort6776]

good luck, but buying the lucid out is going to cost you a lot of money. I have not seen a case of any EV end of lease value being higher than the market the residual will always be thousands over value. attaching a high residual is one way that they can offer a lower cost lease to move cars.
I recently turned in an Ipace that the residual value was almost 20k over the market price, the car was in great condition, very low miles and I offered to negotiate a buyout that reflected reality and was refused. so I am guessing that they took the car in and then auctioned or sold it for around what my offer was. the moral to the story is that once the car is sold to a leasing company, even an in house one, you are no longer dealing with people who are capable of thinking, they just go buy their numbers and we both lost out, they lost on taking the car back and I lost out on getting a good car at a fair price.

 

[hydbob]

Anyone has actually done a Lucid lease buyout (meaning: buying their own leased Air)? I reached out to what I thought was Lucid Financial Services to the email [email protected] just to inquire, and they replied saying the following (copy / paste):

Lucid Financial Services and Bank of America are indeed separate. Once you give them a call, I'm sure you can request an official email address. Here is another number that is often used also: 833.423.0369
Thanks

So it sounds like there are three entities involved with leases:
1) Lucid Motors
2) Lucid Financial Services (sounds like owned and operated by Lucid Motors)
3) Bank of America

I have the emails exchange with names and email addresses and all, but I won't post screenshots to protect their privacy.

lucid Financial Services are owned and operated by BofA

 

[Steveinarizona]

I just don’t see that slowness in my 23 Pure. It’s just fine.

Response speed of the info system can be perceived as slow or fast depending upon the individual. I played golf yesterday. There was a foursome two groups in front of me that IMO was very, very slow (2.5 hour back nine) but I am sure that they thought they were playing at a proper speed.

When using ACC, some (like me) prefer to set it at the closest distance while others prefer one of the farther away settings. So...to Lucken not slow and to Gruesome it is very slow. And, sometimes, once one gets used to a speed it seems slower.

I think this one is like seat comfort. Do an extended test drive and see how fast or slow the info systems appears to YOU. We are all different and have different expectations.

 

[Lucken]

Response speed of the info system can be perceived as slow or fast depending upon the individual. I played golf yesterday. There was a foursome two groups in front of me that IMO was very, very slow (2.5 hour back nine) but I am sure that they thought they were playing at a proper speed.

When using ACC, some (like me) prefer to set it at the closest distance while others prefer one of the farther away settings. So...to Lucken not slow and to Gruesome it is very slow. And, sometimes, once one gets used to a speed it seems slower.

I think this one is like seat comfort. Do an extended test drive and see how fast or slow the info systems appears to YOU. We are all different and have different expectations.

Or, as we’ve seen with so many different issues with Lucids, some cars might actually have different response speeds with the same chip. As an example, my doors open immediately when I’m within 10’ of the car over 90% of the time. On rare instances I might have to wait until I’ve actually arrived at the car. Others have far different experiences.

Such is life with a Lucid.

 

[Steveinarizona]

Or, as we’ve seen with so many different issues with Lucids, some cars might actually have different response speeds with the same chip. As an example, my doors open immediately when I’m within 10’ of the car over 90% of the time. On rare instances I might have to wait until I’ve actually arrived at the car. Others have far different experiences.

Such is life with a Lucid.

Good point. Probably more so with cars like Lucids and Teslas which update at somewhat random times rather than an annual update like classic car companies.

But an extended test drive in the vehicle you are thinking of purchasing would resolve that issue. Of course, not so easy to do if the vehicle is far away.

 

[bexxxx]

Well, if you realize Lucid is backed by a trillion dollar soverign fund of an oil rich Government, you will understand.

... yeah, Lucid means nothing to them either way. They could keep Lucid afloat or cut them off and it means nothing. Size of the PIF doesn't mean they're just going to double down on bad investments.

 

[Blue Lectroid]

... yeah, Lucid means nothing to them either way. They could keep Lucid afloat or cut them off and it means nothing. Size of the PIF doesn't mean they're just going to double down on bad investments.

I respectfully disagree. Lucid is a significant source of national pride and the PIF has a very long term focus. Our American short sightedness is pretty glaring when it comes to things like losing money for a protracted period of time to build something new. Establishing a premium automobile brand in the modern era is something that takes decades to become entrenched and the folks at the PIF seem to have that perspective.

 

[Andretex]

the answer is simple. the residual on your 23 Pure lease will be too high. the value of your car will be significantly lower so buying will not make sense.

lease the new Pure.