LUCID Gravity Lease vs Finance

[lucidnewbie24]

I've owned and leased cars. With EVs, I don't plan on keeping them that long given how quickly the tech changes. The Gravity has enough tech advancements to consider owning long term but I just don't see myself getting locked into one long term. Factoring expected high depreciation compared to combustion engine cars, leasing makes alot of sense compared to either cash purchase or financing. I can see being fleeced on resale values after 3 years. That being said, I would want as many incentives on the lease to drive down cap cost to offset the inefficiencies of lease structures.

 

[lucidnewbie24]

For my DE the residual after 36 months was almost exactly 50%. Different states handle the sales tax differently, so you need to factor that in. For example, in Georgia you only pay the sales tax on the value of the lease (depreciation), then if you buy the car at the end of the lease you pay the remaining sales tax on the residual value of the car. Whereas in Texas I believe you pay the sales tax on the entire value of the car if you lease. I calculated that, at least for me, leasing with the tax credit was approximately 5% more expensive than buying (considering the time value of money). I felt the optionality of returning the car at the end of the lease if Lucid went belly up or if the car was a lemon was worth the extra 5%. I will probably buy the car at the end of the lease, unless something disastrous happens.

That's what I figured too with the lease incentives. There are good lease calculators out there and also chatgpt that can help quantify the lease vs finance all in costs.

 

[ManShri]

For my DE the residual after 36 months was almost exactly 50%. Different states handle the sales tax differently, so you need to factor that in. For example, in Georgia you only pay the sales tax on the value of the lease (depreciation), then if you buy the car at the end of the lease you pay the remaining sales tax on the residual value of the car. Whereas in Texas I believe you pay the sales tax on the entire value of the car if you lease. I calculated that, at least for me, leasing with the tax credit was approximately 5% more expensive than buying (considering the time value of money). I felt the optionality of returning the car at the end of the lease if Lucid went belly up or if the car was a lemon was worth the extra 5%. I will probably buy the car at the end of the lease, unless something disastrous happens.

Residual on Grand Touring is higher 53.5% compared to 49.64% on Touring making it a better lease. These were numbers presented to me for the March deal for NJ. They may have different residual now and different for region/state. Always as residual for both, same MSRP GT will lease better than Touring

 

[tmichael]

Residual on Grand Touring is higher 53.5% compared to 49.64% on Touring making it a better lease. These were numbers presented to me for the March deal for NJ. They may have different residual now and different for region/state. Always as residual for both, same MSRP GT will lease better than Touring

MSRP should be lower on Touring, thereby potentially reducing actual monthly lease payment. For price conscious buyers, total monthly lease payment may have more import than internal lease economics. Why would one get a Touring if MSRP on both are the same? Actual question, not rhetorical...

 

[ManShri]

Why would one get a Touring if MSRP on both are the same? Actual question, not rhetorical...

Agreed and people sometimes may miss that. If one can find base GT vs loaded Touring then GT is a better buy financially and monthly payments will be lower, but you do miss on the luxury options for longer range and horse power. I know someone who chose all luxury option touring over GT as they didn't care of range !!

There are few base 2026 GT in my market (NYC Metro) with no leather and no dream drive pro etc vs Turing with all options leather DreamDrive Pro, Sound pro etc. In such case GT leases better than touring on pure monthly cost comparison.

Its individual decision, if buying 2026 then DreamDrive Pro is something I wont let go and will need that,.

 

[maverikv]

That residual on the GT makes a huge difference. I was looking at touring models with DD premium and c&c with Yosemite interior and no other upgrades. To go from that to an identically configured GT was like $100 a month on the lease payment. Kind of a no brainer. Without those additional credits this month I think the GT is the better lease by far.