Leasing/Financing

[Dr. Joe]

I just spoke Lucid Financial Services today as I'm considering all of my options.

Leases will be offered from 24 months up to 48 months. It depends which state you live in whether you can buyout the lease for the residual at the end of the term. I live in Florida so I could lease for whatever term and then buy the car for the residual if I choose. Obviously, there are many factors that will determine the monthly lease payment which can only be determined during the application process. There is an early termination penalty.

As far as financing (loan), it will range from 48 months to 72 months. There is no prepayment penalty. Rates depend on the time the loan is secured.

Hope this information is useful.

 

[rbbarry]

Did they mention how much leasing would cost monthly based on those terms?

 

[BradSholl]

I just spoke Lucid Financial Services today as I'm considering all of my options.

Leases will be offered from 24 months up to 48 months. It depends which state you live in whether you can buyout the lease for the residual at the end of the term. I live in Florida so I could lease for whatever term and then buy the car for the residual if I choose. Obviously, there are many factors that will determine the monthly lease payment which can only be determined during the application process. There is an early termination penalty.

As far as financing (loan), it will range from 48 months to 72 months. There is no prepayment penalty. Rates depend on the time the loan is secured.

Hope this information is useful.

Do you recall what rate they are offering today for 72 month financing?

 

[Ksa23]

Thanks for posting

Did they give any ballpark figure on lease payments, or a rough residual value expectations? Some manufactures price their residuals so well the payment could be $500-1000 cheaper per month vs financing, but as far as I know, we have no clue what residual Lucid is estimating.

 

[PaulS]

I spoke to LFS about the lease. They are pretty clueless
They No idea about the $7500 Federal Tax incentive being cap reduction or I would have to file it on my tax return.

As far as a sample payment for 36/10k, $16,500 DAS, $1989 a month. No taxes included in this payment
I assume this is a 55% to 57% RV which is not bad. Audi RS Etron GT is a 59% RV

 

[hitmanray]

I spoke to LFS about the lease. They are pretty clueless
They No idea about the $7500 Federal Tax incentive being cap reduction or I would have to file it on my tax return.

As far as a sample payment for 36/10k, $16,500 DAS, $1989 a month. No taxes included in this payment
I assume this is a 55% to 57% RV which is not bad. Audi RS Etron GT is a 59% RV

Thanks for sharing. I assume this is based on an AGT? What finance rate did you assume to get to your 55-57% RV range? Once taxes get rolled in I'm not sure how competitive this is going to be with some of the long-term straight financing rates people are securing.

But again thanks for sharing. Great to see some actual numbers after all the speculation.

 

[PaulS]

Thanks for sharing. I assume this is based on an AGT? What finance rate did you assume to get to your 55-57% RV range? Once taxes get rolled in I'm not sure how competitive this is going to be with some of the long-term straight financing rates people are securing.

But again thanks for sharing. Great to see some actual numbers after all the speculation.

They didt know or give any MF or RV. I used .00311 (7.46) used by Audi Financial and just estimated the RV to get close to that payment. Tax is not included


Its bases on the AGT and clearly the Pre June 2022 pricing

 

[Jimyboy]

My sales rep told me that the $7500 tax credit WOULD get applied to the sales price of the car on a lease as a cap reduction, which is nice and something not all companies do! Its like putting an extra $7500 down on the lease for free.. We will see the financial options when my car comes, but a lease is nice protection just in case the car (or the company) has issues, and I can still buy the car for the residual value at the end of the lease if I want to keep it, and only pay sales tax on that residual value. Hopefully the car has a good residual value, which it should, but we will see.

 

[Ksa23]

My sales rep told me that the $7500 tax credit WOULD get applied to the sales price of the car on a lease as a cap reduction, which is nice and something not all companies do! Its like putting an extra $7500 down on the lease for free.. We will see the financial options when my car comes, but a lease is nice protection just in case the car (or the company) has issues, and I can still buy the car for the residual value at the end of the lease if I want to keep it, and only pay sales tax on that residual value. Hopefully the car has a good residual value, which it should, but we will see.

Nice to know it's an option! Me personally, I would cash out the tax credit during filing season and put in as little cash as possible. Otherwise, in the event of a wreck or loss, all equity is thrown down the toilet.

 

[n8236]

My sales rep told me that the $7500 tax credit WOULD get applied to the sales price of the car on a lease as a cap reduction, which is nice and something not all companies do! Its like putting an extra $7500 down on the lease for free.. We will see the financial options when my car comes, but a lease is nice protection just in case the car (or the company) has issues, and I can still buy the car for the residual value at the end of the lease if I want to keep it, and only pay sales tax on that residual value. Hopefully the car has a good residual value, which it should, but we will see.

The $7,500 applies to leases? Wow...

 

[Bobby]

The $7,500 applies to leases? Wow...

Why not?

 

[Impatient7536]

Called lucid financials today to ask about leasing and got the following ballpark/estimate monthly leasing payment info, which is based on the following assumptions: 36 months, doesn't include sales tax (not sure if the numbers below include other fees that are rolled into typical lease payments), includes the $7500 tax credit, and based on the new car prices.

1) GT-P: $2619
2) GT: $1998
3) Touring: $1303
4) Pure: $1108

The rep told me that the calculator will be made available about 35 days before your car delivery date so that you can submit your financing application. When you get the email/notification, that's when you can play around with the calculator. So it doesn't seem that it will be public for us to play around with; we'll have to commit to the reservation, essentially costing us $1k to have access to the calculator.

Just realized that I forgot to ask about the monthly payments for the different Touring and Pure configurations due to the add-on options, but at least we have a baseline. My rep's voice was super soft, so I had trouble hearing what was being said; had to ask the rep to repeat many times, so I apologize if I misheard. If anyone can get more info, please add on below.

 

[Maverick]

Did they tell you whether there was a max mileage before per mile costs kicked in? If there is, you're definitely going to want to know that as you'll likely put some miles on it.

 

[Impatient7536]

ah, i forgot to ask. since they said they are currently using 36 months as standard for their quotes, i just assumed 10k miles per year. i'll call again tomorrow

 

[Jimyboy]

Does anyone know if the gross vehicle weight for the 2wd is over 6000 pounds? I believe the 4wd is dove 6k pounds but not sure about the Pure or Touring?

 

[Impatient7536]

Does anyone know if the gross vehicle weight for the 2wd is over 6000 pounds? I believe the 4wd is dove 6k pounds but not sure about the Pure or Touring?

are you wondering because of the $25k tax return deduction for cars over 6,000 pounds? i dont think any of the trims are over 6,000 pounds when i did a quick google search a few weeks back, but i could be wrong.

 

[hydbob]

The DE is only 5300 lbs, probably the heaviest version

 

[Chizle]

Actual weight and GVWR are not the same no?

 

[Bauer]

Our car is ready for delivery, so I have access to their calculator. I ran a few scenarios for everyone. Note that the $7,500 credit is applied in the total as people have said. I didn’t see an RV and didn’t want to take the next step since we may still finance or pay cash.

I don’t have my current (and first ever) leased car paperwork with me, but I think we did $10,000 down on an $80-90,000 Range Rover 39 months/12,000 miles with about 50% RV. That payment is $1,280/month at three years ago rates. It looks like the RV for Lucid could be in the 50-60% range.

 

[Impatient7536]

Our car is ready for delivery, so I have access to their calculator. I ran a few scenarios for everyone. Note that the $7,500 credit is applied in the total as people have said. I didn’t see an RV and didn’t want to take the next step since we may still finance or pay cash.

I don’t have my current (and first ever) leased car paperwork with me, but I think we did $10,000 down on an $80-90,000 Range Rover 39 months/12,000 miles with about 50% RV. That payment is $1,280/month at three years ago rates. It looks like the RV for Lucid could be in the 50-60% range.

thanks! very informative. the monthly payments in your pictures include the taxes and stuff right?