Need Help with Lease Anxiety

[bcjenkins]

Greetings, all.

No, I’m not looking for therapy. Not exactly, anyway.

I’ve ordered a 2026 Air Grand Touring from inventory. It’s one feature shy of my ideal configuration (DDP), but I’m committed to the idea that I’ll eventually get an AGT with the next generation of ADAS.

Since 1978, I’ve only owned my vehicles outright or financed them for short periods—eleven vehicles in total, across ICE, hybrids, and EVs.

This is my first lease. I chose to lease the 2026 because the incentives are simply too good to ignore. Still… I’m struggling with the idea that over the lease term I’ll be paying nearly $70K for a vehicle that isn’t mine. (And yes, the mileage cap nags at me too.)

I’ve been trying to rationalize it: I’m essentially getting a very expensive, super-amazing luxury rental for three years, and if I had purchased the car outright, I would likely lose a similar amount in depreciation over the same period.

My lease isn’t finalized yet. Bank of America isn’t thrilled with my retired military pay, and I don’t want to enter a lease that requires a large capital investment. My wife keeps telling me to just buy the car outright. Paying cash has its own drawbacks. I have been closely watching the resale market, but nothing meets all of my no‑compromise criteria.

For those of you who have leased multiple vehicles over the years, how do you get past these concerns, which I fully admit are emotional rather than rational?

Thanks for listening.
Bruce

 

[Northpointe]

Greetings, all.

No, I’m not looking for therapy. Not exactly, anyway.

I’ve ordered a 2026 Air Grand Touring from inventory. It’s one feature shy of my ideal configuration (DDP), but I’m committed to the idea that I’ll eventually get an AGT with the next generation of ADAS.

Since 1978, I’ve only owned my vehicles outright or financed them for short periods—eleven vehicles in total, across ICE, hybrids, and EVs.

This is my first lease. I chose to lease the 2026 because the incentives are simply too good to ignore. Still… I’m struggling with the idea that over the lease term I’ll be paying nearly $70K for a vehicle that isn’t mine. (And yes, the mileage cap nags at me too.)

I’ve been trying to rationalize it: I’m essentially getting a very expensive, super-amazing luxury rental for three years, and if I had purchased the car outright, I would likely lose a similar amount in depreciation over the same period.

My lease isn’t finalized yet. Bank of America isn’t thrilled with my retired military pay, and I don’t want to enter a lease that requires a large capital investment. My wife keeps telling me to just buy the car outright. Paying cash has its own drawbacks. I have been closely watching the resale market, but nothing meets all of my no‑compromise criteria.

For those of you who have leased multiple vehicles over the years, how do you get past these concerns, which I fully admit are emotional rather than rational?

Thanks for listening.
Bruce

My last lease was 20 years ago. As my understanding of finance grew I could no longer justify the transaction. You are essentially renting someone else’s asset. At the same time I did not want to take the massive depreciations hit on a new car.

So I found a sweet spot. I buy (with cash) 2-3 year old cars that are coming off-lease. They are generally in abundance, usually well cared for, and have low miles due to the lease limitations. And it’s common that they’ll still be under the factory warranty and/or available as a CPO.

Lessing is popular and Lucid leases a lot of vehicles. Fewer people can justify the expense of a new car and leasing address that problem. But only you can decide if it’s right for you. And you seem to have a good handle on the issues.

 

[alatp]

Bruce, one thing I would suggest is being very careful about the lease return with Lucid.

I just returned mine and was charged about $820 for a few scratches underneath the front bumper. This was in an area that isn’t really visible unless you look under the car, and in my opinion it was not something that should have required repainting.

Because the Air sits so low, scraping the underside of the bumper is very easy and probably fairly common, even if you are careful. So if you do lease, I would keep that in mind from day one and document the condition of the car very well.

I enjoyed the car, but the lease-end inspection and charges were definitely something I wish I had been more prepared for.

 

[gaskiller]

Greetings, all.

No, I’m not looking for therapy. Not exactly, anyway.

I’ve ordered a 2026 Air Grand Touring from inventory. It’s one feature shy of my ideal configuration (DDP), but I’m committed to the idea that I’ll eventually get an AGT with the next generation of ADAS.

Since 1978, I’ve only owned my vehicles outright or financed them for short periods—eleven vehicles in total, across ICE, hybrids, and EVs.

This is my first lease. I chose to lease the 2026 because the incentives are simply too good to ignore. Still… I’m struggling with the idea that over the lease term I’ll be paying nearly $70K for a vehicle that isn’t mine. (And yes, the mileage cap nags at me too.)

I’ve been trying to rationalize it: I’m essentially getting a very expensive, super-amazing luxury rental for three years, and if I had purchased the car outright, I would likely lose a similar amount in depreciation over the same period.

My lease isn’t finalized yet. Bank of America isn’t thrilled with my retired military pay, and I don’t want to enter a lease that requires a large capital investment. My wife keeps telling me to just buy the car outright. Paying cash has its own drawbacks. I have been closely watching the resale market, but nothing meets all of my no‑compromise criteria.

For those of you who have leased multiple vehicles over the years, how do you get past these concerns, which I fully admit are emotional rather than rational?

Thanks for listening.
Bruce

Downside of leasing- more expensive if you want to own and buy the car at the end of the lease , mileage limit, if you add film you need to take bit off, lease return charges for damage.

Buying is cheaper if you want to keep the car 4-5 years. You may hear a lot of talk about out long term future if Lucid, ignore that talk. They will be fine. They have a rich country backing them. They also make the finest vehicles in the world. Nothing beats the handling, space, performance. Yeah. Some software gripes but in the past.

I usually change my cars before warranty ends, I’m keeping my Lucid Air a decade. That’s how good this car is!

 

[gaskiller]

My last lease was 20 years ago. As my understanding of finance grew I could no longer justify the transaction. You are essentially renting someone else’s asset. At the same time I did not want to take the massive depreciations hit on a new car.

So I found a sweet spot. I buy (with cash) 2-3 year old cars that are coming off-lease. They are generally in abundance, usually well cared for, and have low miles due to the lease limitations. And it’s common that they’ll still be under the factory warranty and/or available as a CPO.

Lessing is popular and Lucid leases a lot of vehicles. Fewer people can justify the expense of a new car and leasing address that problem. But only you can decide if it’s right for you. And you seem to have a good handle on the issues.

I would never buy a used car, you never know what issues the car had. If you can afford it, and want to keep the car more than 4 years, buy the car.

 

[Northpointe]

I would never buy a used car, you never know what issues the car had. If you can afford it, and want to keep the car more than 4 years, buy the car.

I bought my 2023 AGT last year with 7K miles and a spotless history. I’ve had no issues during my ownership. The prior owner had it for 21 months and took a $100K loss. For the price I paid I could have bought two and it would still have been cheaper than the original MSRP. While there are issues in buying a used car the same can be said for new cars as well. There’s no shortage of posts here confirming that. And having a valid warranty balances the scales. But whether you lease, buy new or used, do what’s right for you.

 

[prgarg]

Leasing is the way to go for EVs because both of the depreciation you mentioned and the technological advances, so it allows you to jump into a newer model at the end of the lease if you choose to.
Unfortunately that's an advice I didn't follow with my GGT.

 

[dadwithagrav]

I’m new to leasing, always owned and paid off early, and have rationalized leasing as a convenient option to return or buy out the car.

I’m on a 15k miles/year lease but am on track for 20-25k miles/year and I no longer care anymore: I’ll either buy it out at the end or return it regardless of mileage overages. The $0.25/mile overages are actually pretty reasonable considering the base cost of the lease is around $1/mile. Even if I went 40k over the mileage limit (75k miles in 3 years) that’s only $10k extra… which may be better than depreciation. So basically the more miles I put on the car the cheaper it is per mile, and the longer my experience in the coolest family vehicle on the market!

Financially, compared to financing, I think leasing is cheaper in the short term which lets one invest the monthly payment difference for 3 years before figuring out a potential buyout. Depending on interest rate/money factor leasing+buyout might be more expensive on paper until you factor in deferred costs. Don’t put money down on a lease though.

In terms of renting vs owning, coming from an owership perspective and being ready to buy the car after 3 years, just having that option to buy out makes leasing a non-issue. It’s just a different payment schedule with the option to exit early. Having that option for a few hundred dollars is worth it to me with a new company and vehicle

So yeah, I’m maximizing my time in this thing, and will either dump it after 3 years hassle free or keep it until it dies. I’m not holding back on anything despite lease terms!

 

[borski]

I would never buy a used car, you never know what issues the car had. If you can afford it, and want to keep the car more than 4 years, buy the car.

This is bad advice. Used cars can be an incredible bargain. You just have to do your due diligence.

 

[illopp00]

My last lease was 20 years ago. As my understanding of finance grew I could no longer justify the transaction. You are essentially renting someone else’s asset. At the same time I did not want to take the massive depreciations hit on a new car.

So I found a sweet spot. I buy (with cash) 2-3 year old cars that are coming off-lease. They are generally in abundance, usually well cared for, and have low miles due to the lease limitations. And it’s common that they’ll still be under the factory warranty and/or available as a CPO.

Lessing is popular and Lucid leases a lot of vehicles. Fewer people can justify the expense of a new car and leasing address that problem. But only you can decide if it’s right for you. And you seem to have a good handle on the issues.

Totally agree here, if one can wait or find a good CPO listed one with the right spec you would solve all your own concerns.

 

[djeuch]

In my life. half my cars have been purchased new, and the other half used. In both cases, I've kept them for more than 10 years. In all cases, I financed them.

I looked at the new price for a 2026 Lucid Air GT and ended up finding the exact color, spec, roof, DDP in a 2025 model with just under 11k miles for literally $50k less than MSRP (not including potential discounts, but still). Ended up buying the 2025 sight unseen and it's supposed to be shipped to me this week.

That's a lot of money saved for a car that is literally only a year and a half old. EVs depreciate notoriously huge in the beginning. No one wants a "used" battery. I say, use that to your advantage.

Leasing is good if you really know you don't want it past lease end. Ask me later when the car is actually in my possession, but at least at this time, I have no regrets.

 

[JGard18]

I’m new to leasing, always owned and paid off early, and have rationalized leasing as a convenient option to return or buy out the car.

I’m on a 15k miles/year lease but am on track for 20-25k miles/year and I no longer care anymore: I’ll either buy it out at the end or return it regardless of mileage overages. The $0.25/mile overages are actually pretty reasonable considering the base cost of the lease is around $1/mile. Even if I went 40k over the mileage limit (75k miles in 3 years) that’s only $10k extra… which may be better than depreciation. So basically the more miles I put on the car the cheaper it is per mile, and the longer my experience in the coolest family vehicle on the market!

Financially, compared to financing, I think leasing is cheaper in the short term which lets one invest the monthly payment difference for 3 years before figuring out a potential buyout. Depending on interest rate/money factor leasing+buyout might be more expensive on paper until you factor in deferred costs. Don’t put money down on a lease though.

In terms of renting vs owning, coming from an owership perspective and being ready to buy the car after 3 years, just having that option to buy out makes leasing a non-issue. It’s just a different payment schedule with the option to exit early. Having that option for a few hundred dollars is worth it to me with a new company and vehicle

So yeah, I’m maximizing my time in this thing, and will either dump it after 3 years hassle free or keep it until it dies. I’m not holding back on anything despite lease terms!

I'm in a similar situation, except I'm stressing over the mileage penalties. lol. I leased my Air when I was a fully remote employee. A year in, and I took a new job that required 50% in-office, and the office is 38 miles away. Now with one year left on my lease (it's a 10k miles per year lease), I'm already at 28k miles, and I'm being forced to go into the office full time. I'm going to be at about 55k miles once my lease is over. I'm just hoping I can get a cheap negotiated buy-out offer, and I'll keep the car for another 3 years or so.

 

[gaskiller]

This is bad advice. Used cars can be an incredible bargain. You just have to do your due diligence.

Not necessarily, depends. Do you want peace of mind and warranty or save money? If money is more important, yeah, buy a used car.

Regarding due diligence, you never know what issues a car has unless you drive it for a few days. A one time once over doesn’t reveal all faults.

 

[gaskiller]

I bought my 2023 AGT last year with 7K miles and a spotless history. I’ve had no issues during my ownership. The prior owner had it for 21 months and took a $100K loss. For the price I paid I could have bought two and it would still have been cheaper than the original MSRP. While there are issues in buying a used car the same can be said for new cars as well. There’s no shortage of posts here confirming that. And having a valid warranty balances the scales. But whether you lease, buy new or used, do what’s right for you.

I stopped buying used….just new all the time. I get more peace of mind. Another issues is some accidental damage doesn’t get reported if repaired without insurance. Yeah. Most times it works out, but you could get a very bad apple.

 

[Northpointe]

Not necessarily, depends. Do you want peace of mind and warranty or save money? If money is more important, yeah, buy a used car.

Regarding due diligence, you never know what issues a car has unless you drive it for a few days. A one time once over doesn’t reveal all faults.

Well you do you. If buying a new car provided guaranteed peace of mind, we wouldn't need lemon laws.

From a purely financial perspective it is very difficult to justify the purchase of a new luxury vehicle, EV or otherwise. I find peace of mind in knowing that my used AGT; which I own free and clear, is worth about $10K less than I paid for it a year ago, has required no unplanned service, and is still under warranty. But I do wonder what peace of mine the original owner achieved by taking a $90K loss in less than two years.

The two are not mutually exclusive. You can save money and have peace of mind.

 

[Professor Y Cars]

I’ve ordered a 2026 Air Grand Touring from inventory. It’s one feature shy of my ideal configuration (DDP), but I’m committed to the idea that I’ll eventually get an AGT with the next generation of ADAS.

You're making a big commitment over a long-ish period of time, so my advice is to hold out and get a configuration with DDP. It's really good. I've done many thousands of freeway miles on hands free assist and it's never presented a safety issue to me. I use it daily and given the number of miles I do with it, it's easily the most cost effective feature for me personally.

 

[bcjenkins]

I buy (with cash) 2-3 year old cars that are coming off-lease. They are generally in abundance, usually well cared for, and have low miles due to the lease limitations. And it’s common that they’ll still be under the factory warranty and/or available as a CPO.

Wise approach. I just can't seem to find a used one with all the bells and whistles I want.

 

[bcjenkins]

Bruce, one thing I would suggest is being very careful about the lease return with Lucid.

I just returned mine and was charged about $820 for a few scratches underneath the front bumper. This was in an area that isn’t really visible unless you look under the car, and in my opinion it was not something that should have required repainting.

Because the Air sits so low, scraping the underside of the bumper is very easy and probably fairly common, even if you are careful. So if you do lease, I would keep that in mind from day one and document the condition of the car very well.

I enjoyed the car, but the lease-end inspection and charges were definitely something I wish I had been more prepared for.

I've read a number of stories about lease-return surprises. In most cases, the cars we've owned--even those we had for more than three years--were pretty much showroom ready when we sold them. And while we took great care of our cars, there's not much you can do to protect against trash and rocks bouncing around on the highway and knocking down the value (or racking of lease turn-in costs).

I appreciate your comments.

 

[Northpointe]

Wise approach. I just can't seem to find a used one with all the bells and whistles I want.

If you’re in a position where you have to buy now then your options are probably limited. If you can wait 30-60 days you’ll likely find something that meets your criteria. Lucid leased a large portion of their inventory so used off-lease cars are regularly coming onto the market. Inventory levels will fluctuate a bit. Beyond checking the Lucid site for pre-owned inventory, I would also keep an eye on AutoTempest which aggregates all car listings on the web.

AutoTempest.com: All the cars. One search.

Find your next car on AutoTempest! All the used car sites in one search, including craigslist*, Cars.com, AutoTrader*, Kijiji*, eBay and more. (* No affiliation)

www.autotempest.com

 

[bcjenkins]

Buying is cheaper if you want to keep the car 4-5 years. You may hear a lot of talk about out long term future if Lucid, ignore that talk. They will be fine. They have a rich country backing them. They also make the finest vehicles in the world. Nothing beats the handling, space, performance. Yeah. Some software gripes but in the past.

I just put together a small spreadsheet of all the vehicles I've owned since my first car--a 1978 Datsun B210GX hatchback. On average, I've held a vehicle for nine years. (Twelve vehicles in total, not 11 as I originally posted.) The outlier was a 1994 Geo Metro, which I had for 20 years. The shortest held was a 2012 Ford Fusion Hybrid, which I traded after three years for a 2015 Ford Fusion Hybrid. I owned that for six years. (I loved that car and sold it only because I worked from home and it was literally collecting dust and depreciating while I paid insurance. Sold it near the top of the covid supply chain frenzy when used car prices were going nuts.)

If I get all the features I want, and assuming the vehicle performs as anticipated, I would expect to hold the Lucid long enough to justify a cash purchase. Sure, there will always be improvements and new features that wish I had, but that's the case for almost all technologies today...