LUCID Financial - slight frustration

[Viking]

Yeah. I just assumed since it was a part of BOA that it would go smoother. The 0% in really great in this climate so after speaking with them today and getting the docs today i went ahead and signed. Should be taking delivery on Sat

How can you get 0%? Even the special offers for lease are at .99%

 

[hydbob]

@hydbob would you mind enabling the conversation feature for @Drakester? I will reach out to them directly.

Sorry late to the party but done!

 

[Drakester]

How can you get 0%? Even the special offers for lease are at .99%

What I found out is standard financing is the 0.99%. I think they said if you have over 800 credit score than the lease financing was 0%

 

[karenWhitaker]

How has everyone's experience been with Lucid Financial? It is pretty much BOA but it seems they are still getting things ironed out.

1. I applied after I put the deposit down on the car. I never received a "you're approved" message. The only way I knew is when my DA reached out to talk about delivery times. I said I was still waiting to hear from BOA but he said on his end I was approved.

2. They said I'd get some docs in 48 hours. never happened.

3. A week after ordering I got a call saying that the car would be delivered in two weeks but I still never heard from BOA so Lucid transferred me to someone and we went over all of my lease terms.

4. Here is the most frustrating part. I have received a total of three or four widely different due at signing amounts. Ranging from 11k up to 22k Yesterday I received two different amounts in a couple of hours span. Then I received DocuSign to complete the PA then got a call saying that was wrong and wait a couple of days for a new one. It's Wed and I take delivery in 3 days...

I know LUCID is new but math isn't or BOA... so it is just a little strange.

I'm wondering how your situation was resolved. We have been overwhelming disappointed with the process with BofA. I literally just received the contract this evening and the car is due to be delivered tomorrow. I'm so disgusted with the process that I am can walk away without hesitation. We too were told 11k down. The contract is for 20k down. There was not a call to discuss terms, they just email it for signature and tell us to make the payment tonight so they can deliver tomorrow.

Capitalized Cost Reduction. The amount of any net trade-in allowance, rebate, noncash credit or cash you pay: 17,500.00
that reduces the gross capitalized cost. This sounds like I'm buying down the rate. This fee was NEVER discussed. Furthermore, the lease never mentions the .99% interest rate.

Any thoughts you have are much appreciated. Glad I didn't sell my Tesla yet.

 

[Drakester]

I'm wondering how your situation was resolved. We have been overwhelming disappointed with the process with BofA. I literally just received the contract this evening and the car is due to be delivered tomorrow. I'm so disgusted with the process that I am can walk away without hesitation. We too were told 11k down. The contract is for 20k down. There was not a call to discuss terms, they just email it for signature and tell us to make the payment tonight so they can deliver tomorrow.

Capitalized Cost Reduction. The amount of any net trade-in allowance, rebate, noncash credit or cash you pay: 17,500.00
that reduces the gross capitalized cost. This sounds like I'm buying down the rate. This fee was NEVER discussed. Furthermore, the lease never mentions the .99% interest rate.

Any thoughts you have are much appreciated. Glad I didn't sell my Tesla yet.

That was exactly my situation and like you, I also have a Tesla to sell. On a Thursday (my delivery was scheduled for Sat) I called to cancel. My local delivery associate called me and she was super nice and assured me I'd have all the docs with the correct numbers that day. She made good on her promise. I signed everything Thursday evening and Friday afternoon I had to go to the bank to wire the money since I didn't trust ACH to get there in time for me to pick up the car the next day.

I think the low number they are quoting is just the downpayment they list on their site. They aren't factoring in taxes and that is how it is jumping from 11 to 20k. I would have rather handled the TTL on my own but Lucid Financial won't let you.

 

[Amster]

I think the low number they are quoting is just the downpayment they list on their site. They aren't factoring in taxes and that is how it is jumping from 11 to 20k. I would have rather handled the TTL on my own but Lucid Financial won't let you.

I didn't figure in the taxes either, which led to me having to come up with a much larger amount to bring in than I expected. But it was a bit smoother because all of that came up ten days before delivery so I had more time to adjust.