Lucid Finance's Current Money Factor (Air)

[Brystal42]

In any case, I appreciate you bringing up the topic to begin with and apologize for steering astray of that. As you already said, the point is the interest on the 18 month lease is higher than market, making those lease terms particularly unfavorable. It appears the 36 month terms carry the equivalent of closer to 4% interest, which is fairly good.

I'm seriously considering an Air to replace my maturing Audi lease. I'd prefer to go with a shorter term for the lease, like 18 or 24 months, but with the 36 month term being so much more favorable, I'd likely just go with the longer term. Since you're on your second Lucid lease, I imagine you'd agree it's a fine decision! : )

 

[JoshG]

In any case, I appreciate you bringing up the topic to begin with and apologize for steering astray of that. As you already said, the point is the interest on the 18 month lease is higher than market, making those lease terms particularly unfavorable. It appears the 36 month terms carry the equivalent of closer to 4% interest, which is fairly good.

I'm seriously considering an Air to replace my maturing Audi lease. I'd prefer to go with a shorter term for the lease, like 18 or 24 months, but with the 36 month term being so much more favorable, I'd likely just go with the longer term. Since you're on your second Lucid lease, I imagine you'd agree it's a fine decision! : )

Yes, I have plenty of complaints about things in the Air that are lacking or missing, but overall I don't find anything better out there for the money. It's unquestionably a great overall package and really excellent driving experience.

I remain interested in the gravity, but have learned my lesson about buying a vehicle in the early runs of a new model, so decided another short air lease was my best option for now. Maybe a Gravity (or refreshed Air) will be right for me after this lease is up.

 

[ADC]

Interesting! My SA was also cagey about the MF when I asked during the signing of the documents, however, I was able to calculate it myself and it came to 0.00230 (5.52%) for a 36 month lease on a 2025 Air Pure, and an 800+ credit score. This was at the West Palm Lucid location 3 weeks ago. My previous car was a 2022 Lexus ES350, also leased, and the MF was disclosed without any questions…

 

[JoshG]

Interesting! My SA was also cagey about the MF when I asked during the signing of the documents, however, I was able to calculate it myself and it came to 0.00230 (5.52%) for a 36 month lease on a 2025 Air Pure, and an 800+ credit score. This was at the West Palm Lucid location 3 weeks ago. My previous car was a 2022 Lexus ES350, also leased, and the MF was disclosed without any questions…

yep, consistent with what I've seen. Lucid needs to set this as policy from the top, and direct BofA to follow it to - the money factor should not be a secret, and should be disclosed immediately upon anyone asking, whether or not they have an order in or are just considering one, just like every other automaker seems to do. Financing terms are critical and should be available for anyone who wants to use that info to compare their options.

 

[tonybot]

It is possible to know the base money factor for traditional manufacturers. Back in the day, you asked in the Edmunds forum about it with your zip code, and an admin gave it to you. Nowadays, you can subscribe to a lease hacker rate finder with up-to-date data specific to make, model, trim, and terms. Rate finder does not have Rivian, Lucid, or Tesla. I recently leased a 2025 BMW iX.. I negotiated based on the base rate as the dealership was inflating it. Also, in many cases, you can put refundable MSDs(not down payment but security deposits) and reduce the MF further. My effective APR for the iX was .22% and over the 3 years, the rent charge is only $400. Knowing what BMW finance was offering the dealers enabled me to make sure I got the best possible offer.

 

[DS9]

It is possible to know the base money factor for traditional manufacturers. Back in the day, you asked in the Edmunds forum about it with your zip code, and an admin gave it to you. Nowadays, you can subscribe to a lease hacker rate finder with up-to-date data specific to make, model, trim, and terms. Rate finder does not have Rivian, Lucid, or Tesla. I recently leased a 2025 BMW iX.. I negotiated based on the base rate as the dealership was inflating it. Also, in many cases, you can put refundable MSDs(not down payment but security deposits) and reduce the MF further. My effective APR for the iX was .22% and over the 3 years, the rent charge is only $400. Knowing what BMW finance was offering the dealers enabled me to make sure I got the best possible offer.

You can still ask the Edmunds forum for MF and incentives. Last October I checked the IX forums before going through a broker to get my wife her IX.

 

[tonybot]

You can still ask the Edmunds forum for MF and incentives. Last October I checked the IX forums before going through a broker to get my wife her IX.

Awesome. I was considering a broker but was able to negotiate a deal that what better than what they were advertising. But I will surely consider using a broker. Much easier that way!

 

[DS9]

Awesome. I was considering a broker but was able to negotiate a deal that what better than what they were advertising. But I will surely consider using a broker. Much easier that way!

In Charlotte the same dealer groups owns both BMW dealership so they have no incentive to give good deals. My wife did 2 test drives at the local dealership but they didn't seem interested in dealing much. I called the GSM and let him know the deal the broker offered and he basically said we couldn't get that deal with them. So we went with the broker - easiest dealership transaction ever.