Based on my experience and some others here, you really won’t see any change on your dashboard during “in production”. Once it goes to preparing for delivery, more info begins to appear at (somewhat) random times…
For a more fair comparison you need to calculate total spent if you pay off the loan at 36 months.
You're comparing 35 months to 66 months so of course loan is going to cost more because you've got another 3 years of interest on it. If you want a true comparison you need to do a 35 month loan vs. 35 month lease.
The taxes on the lease are in the line item “Upfront taxes.” Good call about the sales taxes on the residual. That brings the numbers closer - $141,820 (finance) vs. $141,453 (lease).
It won’t make a massive difference, but don’t you have to also put the same amount down? If you put less than the $26k for the loan, like $10,000, you’ll have something more per year in finance costs. Again, not major, but still.
How did you get to the page with that screenshot about the loyalty credit. I've been approved for the Gravity with just the $7500 credit but I remember I did not have that option for adding that Loyalty credit. Also called my SA to get more details into that even though we've been approved for financing (or a lease I should say)
On a related note, I see some social media people pushing a referral code for Lucid. Does that get us a discount of any kind? Or does it just help them?
That I am not sure of at all or have any visibility into it unfortunately!
That’s a good point. Although one of the factors in favor of leasing is less up front. PenFed won’t let me finance more than $100k so that requires a bigger down payment. And I should be considering the interest earned on the difference I’ll save in the up front payment by going with the lease. Thank you!
I don’t know. I had never heard of it until it showed up in that screen shot my SA sent me. I didn’t ask for it and didn’t ask about it. Don’t want to look a gift horse in the mouth!
My SA sent that. Its an internal tool and it must be easy to use because I asked for a few different variations and he was responding in near real time via email.
i didn’t think there’s a cap for the price of the vehicle so the GGT would qualify.
There are some scenarios where it can still make fiscal sense... Like being retired with lots of savings but not much official income. That's the boat I'm in. 7-digit savings/investments (most tax-deferred), but own my house outright and don't need to withdraw a huge amount annually to live off of. "Cash rich but income poor", so to speak. (Well, hardly "poor", but middle class numbers for taxable withdrawals.)
