Post your lease figures

Shandler

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Sep 26, 2022
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lucid is offering leasing. Has anyone executed a lease with them? Can you share the terms? Residual, money factor and did you get the 7500 credit? Trying to estimate my payment.

Anyone know if they are taking trade ins?
 
lucid is offering leasing. Has anyone executed a lease with them? Can you share the terms? Residual, money factor and did you get the 7500 credit? Trying to estimate my payment.

Anyone know if they are taking trade ins?

I asked my design studio manager Saturday and he said in the future but not now.
 
I asked my design studio manager Saturday and he said in the future but not now.
I do think the used market is still strong enough there’s more benefit going through a carvana / vroom / carmax to get your strongest trade in number. That is assuming you are not in a state with a used car trade in benefit.

Some real world numbers would be good. The public facing calculator is quite conservative with quotes as opposed to the one that is available in the portal after you’ve been invited to pay with LFS.
 
Ill be posting mine as soon as I'm invited to apply.
 
Here is what they sent me. Intent was to put $70K down, for a 3 year lease with 15K miles/year. Among other things I don't understand how they handled the tax credit. Seems like they gave it to me with one hand and took it away with the other. In any event, the proposal was unattractive to me so I paid cash. Paid for the car over a week ago but still don't have a delivery date.
 

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This made me realize that I don't have a copy of my lease agreement. Stupid on my part. I've request copies which I will post when I receive.

I got a GT nearly a month ago. I did 36 month lease at 7500 miles/year with no money down. Monthly is $2,786.
 
Here is what they sent me. Intent was to put $70K down, for a 3 year lease with 15K miles/year. Among other things I don't understand how they handled the tax credit. Seems like they gave it to me with one hand and took it away with the other. In any event, the proposal was unattractive to me so I paid cash. Paid for the car over a week ago but still don't have a delivery date.
Thanks for sharing. It seems your residual for 15k miles / 36 months was 45.24%, and the APR was 6.43% (i.e. money factor of 0.00268)
 
If read the lease right that means you put in 97k and buy it at the end for 64k, which would mean all in for 161k. That really doesn't seem that great.
 
A residual of 45% after only three years? That seems quite bad…
 
A residual of 45% after only three years? That seems quite bad…
The residual is def lower than most 3 year leases at 10k. Most higher end brands are in the 50-55%. Since the brand is new, the bank is just hedging its losses and they want to collect as much as they can.
 
Why would anyone put up $70k as a cap cost reduction on a lease. That's f'ing crazy. I'd never put any money down if leasing. If the car is totaled on day 2, you're out a boatload of $$$.
 
Why would anyone put up $70k as a cap cost reduction on a lease. That's f'ing crazy. I'd never put any money down if leasing. If the car is totaled on day 2, you're out a boatload of $$$.
That does sound crazy... But I ask out of ignorance: if the car is leased to a business, is there some sort of accounting or tax benefit to that?
 
Is this 45% of legacy pricing? Does that mean it will be even lower for someone that buys now for 154 or whatever it is?
 
Yeah - lease....

Initial Deposit - $1000.00
Down payment - $35000.00
48 month * $1119.01 - $53715.36
Total cost for 48 mos - $89715.36
======================
Lease buyout - $46,688.86

They took out $7500.00 tax credit from the MSRP. So, the total for car would have been ~$106000.00 (OTD). Anyone know what APR this lease number entails too and the residual value?
 
For those that have leased has the residual always been based on price paid vs current price. Meaning if you have legacy pricing is the lease better because it's based on a % of the new MSRP.
 
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