Lease return excess wear & tear

[lemans.z20]

Im curious, b/c the horror stories are starting to mount up. How come no one has just decided to sell the car out right instead of handing it back in? Ive sold my lexus leases before and when i was leasing the lucid I asked if this was an option and was told clearly it was, I could sell the car instead of handing it back in?

 

[L-Dude]

Im curious, b/c the horror stories are starting to mount up. How come no one has just decided to sell the car out right instead of handing it back in? Ive sold my lexus leases before and when i was leasing the lucid I asked if this was an option and was told clearly it was, I could sell the car instead of handing it back in?

Yes, but the residual value amount that your would pay to own the car is usually thousands more than the car is worth. It is cheaper to pay these ridiculous "repair" fees

 

[thyname]

Im curious, b/c the horror stories are starting to mount up. How come no one has just decided to sell the car out right instead of handing it back in? Ive sold my lexus leases before and when i was leasing the lucid I asked if this was an option and was told clearly it was, I could sell the car instead of handing it back in?

I am not there yet, but my guess is that the outright sale fair market value (what one gets when selling the car outright) is way less than the payout amount to the leasing company (BoA)

 

[socktucker]

Im curious, b/c the horror stories are starting to mount up. How come no one has just decided to sell the car out right instead of handing it back in? Ive sold my lexus leases before and when i was leasing the lucid I asked if this was an option and was told clearly it was, I could sell the car instead of handing it back in?

you still have to buy the car, you cannot sell a car you don't own, same with Lexus. Lexus usually hold their value enough that its still worth it. However, they are putting new limits in leases related to that.

 

[SonofaBish]

Agree with all the responses to that.... but to help visualize, let's add some numbers in...
My 2023 GT had a residual of $109K... market value on that car right now seems to be about $60K on a good day, meaning trade is prob $50K, or maybe even high 40's since most prob dont want to take a risk on a Lucid.... so id have been upside down by $50K +

 

[lemans.z20]

you still have to buy the car, you cannot sell a car you don't own, same with Lexus. Lexus usually hold their value enough that its still worth it. However, they are putting new limits in leases related to that.

I was told specifically I can sell the car outright to say a carmax without issue. I just did it with my lexus recently and had a profit, took a little bit of the profit for the down on the lucid. If your implying this cannot be down, im gonna have to contact the direct manager of the store I got the car from b/c I was assured by the sales rep AND the manager that called me personally to verify this.

 

[lemans.z20]

Agree with all the responses to that.... but to help visualize, let's add some numbers in...
My 2023 GT had a residual of $109K... market value on that car right now seems to be about $60K on a good day, meaning trade is prob $50K, or maybe even high 40's since most prob dont want to take a risk on a Lucid.... so id have been upside down by $50K +

this I can see being a thing for sure, thats my worry with the lucid when i turn mine in. Will have to deal with this, and not get into a new one unless they are willing to work out some amazing deal which we all know they wont. Thats where other brands are smart, they know theyll win by keeping you as a customer and from what im reading Lucid has not learned that. We will say when time comes for me, but ill enjoy the car for the time I have and start worrying about the fighting later.

 

[socktucker]

I was told specifically I can sell the car outright to say a carmax without issue. I just did it with my lexus recently and had a profit, took a little bit of the profit for the down on the lucid. If your implying this cannot be down, im gonna have to contact the direct manager of the store I got the car from b/c I was assured by the sales rep AND the manager that called me personally to verify this.

I'm sure it must matter by state then? Because here you have to buy the car first, then sell it, so they get sales tax on it from you.

 

[L-Dude]

I was told specifically I can sell the car outright to say a carmax without issue. I just did it with my lexus recently and had a profit, took a little bit of the profit for the down on the lucid. If your implying this cannot be down, im gonna have to contact the direct manager of the store I got the car from b/c I was assured by the sales rep AND the manager that called me personally to verify this.

Well you can't sell a car you don't own. If someone else holds the title, then you are going to have to get the title from them before selling it to someone else.

 

[Lucidbear]

I’ll be returning my Touring this Saturday, and this thread has honestly taken a lot of the enjoyment out of what’s otherwise been the best car I’ve ever owned. The anxiety around Lucid’s return process has been real. I even reached out directly to leadership and, unsurprisingly, never heard back.

For context, before this I had a G05 X5 and before that a 5 Series. As much as I loved those, the Lucid was a step above in terms of the driving experience. My wife was even excited about the possibility of getting a Gravity.

That said, the lease return policy and all the uncertainty around it have pushed me away from the brand. I’ve taken excellent care of the car, and the pre-inspection flagged just $200 in damages. If that’s all I end up being charged, I’ll accept it and move on. What worries me is the possibility of being penalized for “new” damage, despite only putting ~200 miles on the car since inspection.

It’s a shame that what should be a smooth end-of-lease experience can undo so much goodwill.

 

[borski]

I’ll be returning my Touring this Saturday, and this thread has honestly taken a lot of the enjoyment out of what’s otherwise been the best car I’ve ever owned. The anxiety around Lucid’s return process has been real. I even reached out directly to leadership and, unsurprisingly, never heard back.

For context, before this I had a G05 X5 and before that a 5 Series. As much as I loved those, the Lucid was a step above in terms of the driving experience. My wife was even excited about the possibility of getting a Gravity.

That said, the lease return policy and all the uncertainty around it have pushed me away from the brand. I’ve taken excellent care of the car, and the pre-inspection flagged just $200 in damages. If that’s all I end up being charged, I’ll accept it and move on. What worries me is the possibility of being penalized for “new” damage, despite only putting ~200 miles on the car since inspection.

It’s a shame that what should be a smooth end-of-lease experience can undo so much goodwill.

To be fair, had you not read this thread and end up only being charged $200, you probably wouldn’t have much of a sour taste in your mouth.

If they are actually improving things (which it seems they are trying to do), then at some point folks returning their leases won’t have any anxiety regardless.

 

[johnse]

I was told specifically I can sell the car outright to say a carmax without issue. I just did it with my lexus recently and had a profit, took a little bit of the profit for the down on the lucid. If your implying this cannot be down, im gonna have to contact the direct manager of the store I got the car from b/c I was assured by the sales rep AND the manager that called me personally to verify this.

I think everyone is correct here...some being more pedantic than others.

Buying the car from the lessor, and immediately selling to a new owner (or reseller like CarMax) is a common scenario. Therefore the banks probably have procedures to make this all happen in a single transaction.

* The Lessor gets paid the residual, $R, maybe including some fees. They provide the Title.
* CarMax gives the agreed sale price $S and receives the Title.
* You either pay $R-S to the Lessor (if the residual is higher) or pocket $S-R if you are lucky enough to have a lower residual. You never see the Title.

 

[furry]

Adding to the data points here, just had my autovin/openlane presinspection:
Only charges are for a 9" wheel scratch @ $200 (thats about market rate for wheel repair)
I also have a seperate 1" scratch and a 2" scratch on other wheels and those are noted but have no associated charges.

Fingers crossed that only the $200 scratch makes it to my final invoice. Although another poster mentioned a credit for the all weather mats which are under recalls so im hopeful for that credit as well. I'm also missing a plastic wheel cover but the service center confirmed that this only costs $75 so I may preemptively purchase and install that (for some reason the inspector didn't note that in the pre inspection report)

 

[merveille07]

Adding to the data points here, just had my autovin/openlane presinspection:
Only charges are for a 9" wheel scratch @ $200 (thats about market rate for wheel repair)
I also have a seperate 1" scratch and a 2" scratch on other wheels and those are noted but have no associated charges.

Fingers crossed that only the $200 scratch makes it to my final invoice. Although another poster mentioned a credit for the all weather mats which are under recalls so im hopeful for that credit as well. I'm also missing a plastic wheel cover but the service center confirmed that this only costs $75 so I may preemptively purchase and install that (for some reason the inspector didn't note that in the pre inspection report)

Yes, purchase and pre-install.

 

[Lucidbear]

Any of you all worry for the people you referred to the brand and their experiences? I referred two buddies - I hope they have a decent experience.

 

[Steveinarizona]

I referred a close friend who bought one but he paid cash so this won't be an issue for him and our friendship.

 

[j4gates]

Been a busy few weeks...thanks DOGE.

Pre-inspection with AutoVin went well. Good communication with the inspector before the appointment and he was fairly thorough. Documented four small chips in the front bumper and a couple small chips on the chrome-ish plastic LUCID strip between the bumper and hood. No repair costs on the write up for those. Also wrote up a large crack in the windshield, which I was aware of - my luck would be to replace it before turn in and get a large chip driving to the Service Center on turn in day. Cost for that is $2,500.

All in all, pretty much what I expected. Now, to wait and see what happens with the real inspection.

Turned in the Air yesterday. Process was very simple/straightforward. I pulled the plates before going in - left my profile intact in case something went sideways with the appointment.

Met with a service rep after they printed the odometer paperwork and we both went out to the car. He checked the odometer and wiped the profile. We both took pictures of the interior and exterior of the vehicle and he had me sign the odometer paperwork. Gave me a copy of the paperwork and I was on my way. Quick and easy.

Now we wait for the hard part.

On a side note, the car has a cracked windshield that I did not want to replace prior to turn in - Murphy probably would have chipped/cracked it again if I replaced it ahead of time. I contacted insurance after the cost appeared on the pre-inspection assessment. They highly recommended an itemized invoice for a post-replacement claim to bolster justification and counter an attempt to reduce the reimbursed amount. I spoke with the service advisor about it during the turn in and he laid out a couple pathways to an itemized outlay - one through BoA after the post-inspection paperwork processes and the other via an estimate from the Service Center. I'll attempt the former, but I have a feeling the latter might be necessary. All things considered, I've been highly impressed with the Tyson's Galleria Service Center staff. They have been helpful throughout my lease experience and, so far, are one of the bright spots.

 

[Lucidbear]

I had my post lease return and the inspection was mostly fine. One concern, the current wear and tear says “Wheels that have scrapes or damage that is longer than 3.5”.

On the pre inspection, you can see this damage listed as 3” and on the post inspection, they increased it to 4.” This one inch increase took the damage from $0 to $200. I think it’s pretty indisputably 3” in length.

I submitted a dispute and they said to call back in 15 days.

 

[DS9]

View attachment 32895View attachment 32896I had my post lease return and the inspection was mostly fine. One concern, the current wear and tear says “Wheels that have scrapes or damage that is longer than 3.5”.

On the pre inspection, you can see this damage listed as 3” and on the post inspection, they increased it to 4.” This one inch increase took the damage from $0 to $200. I think it’s pretty indisputably 3” in length.

I submitted a dispute and they said to call back in 15 days.

1/2 pi D perhaps?

 

[socktucker]

I think everyone is correct here...some being more pedantic than others.

Buying the car from the lessor, and immediately selling to a new owner (or reseller like CarMax) is a common scenario. Therefore the banks probably have procedures to make this all happen in a single transaction.

* The Lessor gets paid the residual, $R, maybe including some fees. They provide the Title.
* CarMax gives the agreed sale price $S and receives the Title.
* You either pay $R-S to the Lessor (if the residual is higher) or pocket $S-R if you are lucky enough to have a lower residual. You never see the Title.

Carmax is also a dealer so it might be different, he may very well be able to sell it to them without titling it to himself first.