New Financing deal

[Swisstrader]

I initially got excited about the very low 0.99% APR and $1299/month financing deal with B of A on the Lucid Air, but when I look at the fine print on a lease option, this requires a down payment of $11K and also doesn’t include tax, title, license and other fees.

So how is this such a great deal if I have to put down $11K??

 

[xponents]

I initially got excited about the very low 0.99% APR and $1299/month financing deal with B of A on the Lucid Air, but when I look at the fine print on a lease option, this requires a down payment of $11K and also doesn’t include tax, title, license and other fees.

So how is this such a great deal if I have to put down $11K??

For this price/category of car, I would argue this is pretty fair, considering the APR that is FAR below what normal rates are. In addition, its a finance, not a lease so at the end you would anyways have to pay more than the full price.

 

[TCGT]

Simplistic answer is that you are paying something of value to get something of value. You determine if it is worth it or not. The lease offer allows you to walk away from the car in 3 years (at whatever cost it is), without risk of dealing with unknown depreciation of the car (or the company) at that time, and ability to get newer technology in 3 years. Question is, what is the residual and mileage limit? Do they include service? The devil is in the details, but I'd have taken this if it was available for a GT.

 

[cardiacTom]

unfortunately also not applicable to those of us with reservations under the legacy pricing...

 

[DBV]

unfortunately also not applicable to those of us with reservations under the legacy pricing...

It is still applicable, but you just can’t use legacy pricing. If leasing this deal is much better than legacy pricing leasing. I think the money factor is 0 when I went over the lease details.