LUCID Gravity Lease vs Finance

[037]

Back to the leasing discussion. I just configured a Gravity GT with an MSRP of 107,900 and the lease was 1,323 with 13,763 due at signing. The payment will most likely be at 225 higher given the 7,500 credit will be gone before I can take delivery. If I take out the tech package either HUD I may have a chance to get one.

Selecting the power package vs the full tech package lowers the payment to 1,282 with 8,656 due at signing.

I’m not sure how accurate the lease calculator is and certainly certain factors change month-to-month.

I did some napkin math too, $0 down and max down to avoid the interest rates, all include the $7500. NYC tax of just under 8.9%

 

[kort6776]

regardless of the cost differences, I only lease my EVs, I've taken too many "baths" with owning a few teslas, the rapid changes in tech can make an EV functionally obsolete in a flash and if you own the car you can get dinged hard, if you lease they are on the hook. I turned in my taycan 18 months ago, it is still sitting in a storage lot because it was so upside down.

 

[zer0t0115]

If you can take possession by 9-30 on a lease you can get 7500 cap cost reduction. If Lucid allows lease buyouts you can purchase during the 1st month and pay 7500 dollars less for the vehicle.

 

[TahoeMichael]

Economically when you pay cash you bear the opportunity cost of lost investment returns on that cash. Subsidized financing whether loan or lease can be more attractive than paying cash from time to time taking advantage of below market rates. Waiting for a subsidized deal makes sense if you have the patience. The lease subsidy may include money factor rates (low) and residual value (high). Advertising a low monthly payment seems for work for vehicle manufacturers seeking to drive sales volume and shopping traffic or they wouldn’t continue to do those deals.

I do understand that manufacturers have long aggressively subsidized their financing, both for auto loans and for leases. While I've never leased, I have had two 0% auto loans. I walked in able to pay cash, but it's hard to turn down a 0% loan. In an odd way, financing subsidies seem to result in more consumer goodwill than actually changing the price of the vehicle. Look at how many Tesla owners complain about someone getting a better deal than they did because of the way Tesla has changed their vehicle prices, but I don't ever recall hearing someone bitterly complain about someone else getting a better lease deal.

 

[TahoeMichael]

If you can take possession by 9-30 on a lease you can get 7500 cap cost reduction. If Lucid allows lease buyouts you can purchase during the 1st month and pay 7500 dollars less for the vehicle.

It's been asked before whether Lucid's leases allow penalty free early buyouts, but I don't think I've seen an answer to that question. While I want the HUD, if I could get an early lease buyout and the $7500 discount on a GGT without HUD delivered before the end of September, I'd likely jump on that.