For Sale LEASE TAKEOVER - 2023 Lucid Air Pure AWD

[MichaelW]

Hi All,

So, due to a bit of impracticality of the car in my work, I'm exploring the idea of sometime simply taking over my lease. Have a pretty good lease rate with a money factor of almost 0% and put down a few thousand when leased. I wanted to try to do this on here before hitting lease trader, etc... LOVE this car, but holds too many risks taking it to construction sites.

Here's the config:

2023 Air Pure AWD
Fathom Blue
20" Aero Lite Wheels
Mojave PurLuxe Interior
Surreal Sound Pro
Dreamdrive (not Pro)
Electrify America For 3 years (FREE)

Lease is $1,120.74 (all in) and has about 30 months left.
Milage is about 4800 as of now.
Car located in Santa Monica, CA.
Looking for a straight transfer with no additional funds needed (I'm taking the hit on the downpayment and initial costs).
**Buyout option can be made available as well**

If you (or someone you know) are interested, please DM me (Moderator note: personal phone and email removed)

 

[AZPure]

Have you looked into the cost of turning in the vehicle early?

 

[johnnygadget]

List it on Swapalease.com


Not sure if Lucid prohibits lease transfers or not, but I have taken over and transferred leases through this site and it is pretty good.

 

[MichaelW]

Have you looked into the cost of turning in the vehicle early?

No. Not yet. I’ve only had it 6 months so I assume it would be crazy. Trying to figure out a way, as unfortunately it’s not super practical for my work.

 

[Maroonvocals1]

Hi All,

So, due to a bit of impracticality of the car in my work, I'm exploring the idea of sometime simply taking over my lease. Have a pretty good lease rate with a money factor of almost 0% and put down a few thousand when leased. I wanted to try to do this on here before hitting lease trader, etc... LOVE this car, but holds too many risks taking it to construction sites.

Here's the config:

2023 Air Pure AWD
Fathom Blue
20" Aero Lite Wheels
Mojave PurLuxe Interior
Surreal Sound Pro
Dreamdrive (not Pro)
Electrify America For 3 years (FREE)

Lease is $1,120.74 (all in) and has about 30 months left.
Milage is about 4800 as of now.
Car located in Santa Monica, CA.
Looking for a straight transfer with no additional funds needed (I'm taking the hit on the downpayment and initial costs).
**Buyout option can be made available as well**

If you (or someone you know) are interested, please DM me (Moderator note: personal phone and email removed)

I’m interested and I’m in Brentwood. Not far from you.

 

[MichaelW]

I’m interested and I’m in Brentwood. Not far from you.

Send me a PM and we can chat…

 

[Maroonvocals1]

Send me a PM and we can chat…

I can’t find where to send you a PM lol can you send me one ?

 

[Lucy Pure]

Have you confirmed with Lucid Financial or BofA that the lease is transferable?

 

[MichaelW]

Have you confirmed with Lucid Financial or BofA that the lease is transferable?

I’ve had a brief conversation with Lucid and they said it shouldn’t be an issue. What have you heard?

 

[MichaelW]

I can’t find where to send you a PM lol can you send me one ?

I tried to PM and it said I couldn’t privately connect with you. The envelope on the top menu is the message center. Create a new message to me there and should be ok. Maybe there’s a messed up setting…

 

[hydbob]

I tried to PM and it said I couldn’t privately connect with you. The envelope on the top menu is the message center. Create a new message to me there and should be ok. Maybe there’s a messed up setting…

Try again, should be working now

 

[Lucy Pure]

I’ve had a brief conversation with Lucid and they said it shouldn’t be an issue. What have you heard?

I've not heard anything but in reviewing my lease contract, there's no mention of the lease being transferable/assumable. There is an assignment section which states:

"ASSIGNMENT. You have no right to assign any of your rights under this Lease or to sublet the Vehicle. Lessor and any party to whom Lessor assigns this Lease may assign its interests in this Lease and the Vehicle without your consent and
without any obligation to notify you before or after the assignment. Any sale and assignment will not materially change duties, burden, or risk under the Lease. The Assignee will not be required to make repairs to the Vehicle, obtain insurance, or
perform any service the OEM or related entities have agreed to perform under this Lease or otherwise."

I would also inquire with BofA, even if this is transferable, to make sure you you are no longer liable for the vehicle post-transfer. Some lenders hold the original lessee liable even after the transfer. Here's NMAC's language:

"Can I Transfer My Vehicle to Someone Else?

A Transfer of Equity/Lease may allow the original customer to transfer the ownership, equity, and responsibility for their vehicle to a new customer, who agrees to pay the remaining installments of the contract. Please note, this does not release the original buyer/lessee from their contractual obligation and certain restrictions may apply."

Good luck and keep us posted!

 

[borski]

I've not heard anything but in reviewing my lease contract, there's no mention of the lease being transferable/assumable. There is an assignment section which states:

"ASSIGNMENT. You have no right to assign any of your rights under this Lease or to sublet the Vehicle. Lessor and any party to whom Lessor assigns this Lease may assign its interests in this Lease and the Vehicle without your consent and
without any obligation to notify you before or after the assignment. Any sale and assignment will not materially change duties, burden, or risk under the Lease. The Assignee will not be required to make repairs to the Vehicle, obtain insurance, or
perform any service the OEM or related entities have agreed to perform under this Lease or otherwise."

I would also inquire with BofA, even if this is transferable, to make sure you you are no longer liable for the vehicle post-transfer. Some lenders hold the original lessee liable even after the transfer. Here's NMAC's language:

"Can I Transfer My Vehicle to Someone Else?

A Transfer of Equity/Lease may allow the original customer to transfer the ownership, equity, and responsibility for their vehicle to a new customer, who agrees to pay the remaining installments of the contract. Please note, this does not release the original buyer/lessee from their contractual obligation and certain restrictions may apply."

Good luck and keep us posted!

Of course, the letter of the contract is only as relevant as the signers to it, so while you're right that OP needs to double-check, the contract can of course be overridden by a second agreement.

 

[MichaelW]

Of course, the letter of the contract is only as relevant as the signers to it, so while you're right that OP needs to double-check, the contract can of course be overridden by a second agreement.

This is what I was going to mention as well. Any transfer or assignment has to include an addendum or amendment that assigns the new person the rights and obligations of the entire contract.

I’m definitely gonna look into this.

 

[sajidms]

Kindly update here if you were able to transfer the lease successfully so the rest of us know it's indeed feasible. I'm considering getting a Lucid lease and I'm curious about this option in case needed. Thanks!

 

[MichaelW]

Still working on it. Going to be taking my car into the service center tomorrow anyway and I’ll have a chat. The biggest hurdle apparently is the finance company not allowing for a transfer of lease. Not sure how that’s gonna go, but I’ll update by end of week.

 

[rockM3]

I'm curious to know what you find out.

Does anyone know if Lucid allows a third-party buyout on a lease? When I spoke to a rep at LFS they said yes but didn't seem too confident in their answer.

 

[Classics&EV]

Hi All,

So, due to a bit of impracticality of the car in my work, I'm exploring the idea of sometime simply taking over my lease. Have a pretty good lease rate with a money factor of almost 0% and put down a few thousand when leased. I wanted to try to do this on here before hitting lease trader, etc... LOVE this car, but holds too many risks taking it to construction sites.

Here's the config:

2023 Air Pure AWD
Fathom Blue
20" Aero Lite Wheels
Mojave PurLuxe Interior
Surreal Sound Pro
Dreamdrive (not Pro)
Electrify America For 3 years (FREE)

Lease is $1,120.74 (all in) and has about 30 months left.
Milage is about 4800 as of now.
Car located in Santa Monica, CA.
Looking for a straight transfer with no additional funds needed (I'm taking the hit on the downpayment and initial costs).
**Buyout option can be made available as well**

If you (or someone you know) are interested, please DM me (Moderator note: personal phone and email removed)

Hello Michael, I wanted to talk to you about the Lucid. We are thinking of leasing one, or getting something else. Where can we reach out to you? Thank you.

 

[Bnayfacklaw]

Hello Michael, I wanted to talk to you about the Lucid. We are thinking of leasing one, or getting something else. Where can we reach out to you? Thank you.

Hi Michael, I would be happy to take over the lease. How many miles remain on the lease. I am always into creative means to purchase or lease a vehicle.
Let me know if your vehicle is still available.

 

[MichaelW]

Hi Michael, I would be happy to take over the lease. How many miles remain on the lease. I am always into creative means to purchase or lease a vehicle.
Let me know if your vehicle is still available.

It’s got about 23,500mi left for 28 months. I still haven’t heard anything back from lucid financial about the ability to fully transfer ownership and responsibility, so I’ll try them again this week.