Rent charge on Lucid Pure lease

[aardee]

I just got off the phone with the LFS rep who went over all the charges for my lease.
Apart from the fact that they have a different price than what I have on my order summary, I was surprised to hear a line item for "Rent charges".

Does anybody know what that is and whether it is common to see that on a lease contract?

For the current lease deal offered by Lucid, what is the residual value and money factor that they are offering?

Thank you,

RD

 

[KurisuAya]

Rent charge is just a different name for financing/interest.
Leases usually report a depreciation + rent charge which is similar to principal and interest on a loan

 

[aardee]

Thank you. I guessed so.
Is it normal to see almost 5.5% for rent changes as part of the current lease deal?

 

[Bobby]

Thank you. I guessed so.
Is it normal to see almost 5.5% for rent changes as part of the current lease deal?

Yes.

 

[par11768]

Residual and money factor seem to differ by trim level. For the Pure l.ease the money factor is 0 - interest rate is 0%. Residual around 49% of the list price but depends on miles in the lease. For the base Pure, $84K car the RV is just over $49K 7500 miles/yr. For that lease, you are just paying the depreciation

 

[aardee]

Thank you. So what is the "Rent charge" quoted to me by LFS?
If the money factor is 0, then there shouldn't be any rent charge, correct?

 

[bru8131]

Thank you. So what is the "Rent charge" quoted to me by LFS?
If the money factor is 0, then there shouldn't be any rent charge, correct?

What is the trim level that you ordered?

 

[par11768]

The monthly rent charge is a combination of the depreciation and interest. If the money factor is 0 then the monthly rent charge is just depreciation.

 

[aardee]

What is the trim level that you ordered?

Air Pure with Dream Drive Premium... Hoping to get it soon.