LUCID Gravity Lease vs Finance

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%
 

Attachments

  • IMG_1617.webp
    IMG_1617.webp
    104.8 KB · Views: 88
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.
 
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.
 
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.
 
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.
 
I submitted a lease application for a GGT via their financing link and was told that the early buyouts aren't allowed. Or rather you still have to pay the full amount of remaining lease payments and then you can buy the vehicle for the residual amount. Now the question is if they can share residual or money factor. Waiting to hear back on that.

I was also told that they can do trade-ins for leases. It reduces the capitalized amount directly (which can help with sales tax in some cases, though goes against the general guideline of paying anything upfront for a lease).
 
Or rather you still have to pay the full amount of remaining lease payments and then you can buy the vehicle for the residual amount
So you can buy it out. Isn’t that the same as any lease? Not like you can avoid paying 36 monthly payments and just think you can pay the residual 😂 . My understanding is it’s usually the monthly payments minus the interest portion plus the residual.

I wouldn’t be buying it out as I’m not certain the car is going to be worth the residual at the end.
 
My understanding is it’s usually the monthly payments minus the interest portion plus the residual.
That's right. I was told that the option of skipping interest portion of remaining lease payments to buyout is not available. Not a Lucid decision - BOA decided this. So early buyout doesn't make much sense (since interest payments far exceed the $7500 cap cost reduction). Otherwise, the best deal as a buyer is to lease - to get the $7500 cap cost reduction - and then immediately (or as soon as allowed) buy out to avoid interest portion of the lease. As long as interest + lease costs are less than $7500, you'd come out ahead.
 
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.
I bought out my lucid air after 2 months of leasing it. There was no penalty, and I didn’t have to pay interest that would have been accrued for the remaining term.
 
I bought out my lucid air after 2 months of leasing it. There was no penalty, and I didn’t have to pay interest that would have been accrued for the remaining term.
Good data point to have
 
I bought out my lucid air after 2 months of leasing it. There was no penalty, and I didn’t have to pay interest that would have been accrued for the remaining term.
Pretty sure @hydbob did the same, and I considered it - Lucid swore up and down k was wrong, but I read the lease paperwork in detail and I’m 99% convinced I was right.

Decided not to because I found a good financing rate and didn’t want to outlay the cash.

IANAL, etc
 
Pretty sure @hydbob did the same, and I considered it - Lucid swore up and down k was wrong, but I read the lease paperwork in detail and I’m 99% convinced I was right.

Decided not to because I found a good financing rate and didn’t want to outlay the cash.

IANAL, etc
Nope, I paid mine cash.
 
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.
I ordered without HUD, wanted it but would rather see if I could get the car and the lease credit. We’ll see what happens.
 
I bought out my lucid air after 2 months of leasing it. There was no penalty, and I didn’t have to pay interest that would have been accrued for the remaining term.
Interesting, perhaps my SA is mistaken then? I'll review lease docs to confirm.
 
I'd love to hear confirmation from someone who is leasing a Gravity about whether the lease agreement permits the early buyout, or not. I don't know whether it's likely that the lease agreement language is different for the Gravity, but it seems possible.
 
I'd love to hear confirmation from someone who is leasing a Gravity about whether the lease agreement permits the early buyout, or not. I don't know whether it's likely that the lease agreement language is different for the Gravity, but it seems possible.
I was told by my SA that a buyout was all remaining payments + $450 + residual + sales tax on the residual. I might be missing some DMV fees in there, but based off that info I went ahead and just purchased the Gravity outright.
 
I was told by my SA that a buyout was all remaining payments + $450 + residual + sales tax on the residual. I might be missing some DMV fees in there, but based off that info I went ahead and just purchased the Gravity outright.
If someone, anyone, were willing to post their Gravity lease agreement/contract, we could confirm this. I’m pretty sure your SA is wrong, but I’m basing this on the Air lease agreement.
 
Last edited:
Back
Top