Whatsup guys so I had a 18 month bridge lease and wanted to turn the car in 6 or 7 months early, because I needed an suv asap, anyway I called lucid financial and discussed this with them and they sent me a letter in the mail and told me over the phone that I just had to pay $1100 fee and then the car would be scheduled to be picked up, now 3 or 4 months later I get a letter in the mail of them asking for the remaining months! This is crazy, I’m so upset about this, did anyone else have a similar experience?? I’m definitely not planning to pay that money and will fight it, it’s around $5700, but had I known they will charge me I would of kept it, this is completely un fair in my opinion and I’m really sour about this and I hold a lot of lucid stock also, I really hope they correct this, note I just got the letter in the mail on Saturday so I hadn’t a chance to call them yet
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Return lease early experience
- Thread starter tonykerf1
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unfortunately, this is an industry wide normal process for early returns. in cases like this you always pay the full lease term. unless you have your special deal in writing or they recorded the call, you will lose in court. sorry.
Will this affect my credit if I fight and take to court, I specifically asked them many times will I need to pay and they said no, there was like $1100 fee that I paid. I would of kept the car if they were going to charge me
No they took the car back 3 months ago
Hi All,
I currently have a 18 month bridge lease, and my understanding was/is that if I terminated the lease early, I’d still need to pay out each month of the remaining lease. I’ve been working with Lucid to “line up” when the gravity will be ready so that it’s not ready too early. Ie, I don’t want the gravity SUV available too early before my lease is up or else I will not accept the gravity because I’m not willing to pay the lease out early. Maybe a month I would pay early but not more than that. I’m not certain you’d be successful in court given, as mentioned they have the terms of early lease termination in the written lease agreement. Seems doubtful. Wishing you luck though.
As an aside, if anyone else has a bridge lease and awaiting the gravity SUV, has anyone had success getting Lucid to guarantee the timing between when their gravity SUV would be ready and the time that the bridge lease will expire can be coordinated appropriately?
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Car companies are more lenient when it comes to buying another car with them. I’ve ended leases 6 to 8 months early in the past by simply buying a newer model with the same company. Just as Lucid is extending leases for those waiting on Gravity I’m pretty sure they’re not going to charge early lease terminations if your Gravity comes early.
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Unless you have this in writing you don’t have a leg to stand on. You signed a contract which would’ve clearly stated the terms for ending a lease early which usually involves paying the remainder of the contract.
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Yeah. I hate that this is true if LFS folks said the opposite, but the letter of the contract is what the court would rule on.
That would be great! Thank you for sharing that insight.
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Never heard of any car company letting you walk way from a lease early with just a minimal disposal fee and not be responsible for the remainder of the lease payments - why would any company do that? Yeah, maybe work with you on a new car and pull it forward, but to just turn it in and walk away from 35% of the payments? No chance.
If I need to get out of a car lease early, I find it is generally better to just buy out the lease and sell the car privately. I made $15k doing this with my Q7, but that was during covid when no one had any cars to sell. This isn't so attractive if you're upside down on the car, which will probably be the case with an EV.
OP I wonder why they waited three months to hit you up for the lease payments?
OP I wonder why they waited three months to hit you up for the lease payments?
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i would call again and ask if they recorded the call. maybe they did. if not, talk to someone higher at Lucid, maybe they will cut you a break on the new car.
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Never hurts to try. All you can waste is time.
Actually that is wrong. If the $1,100 was not the same amount as your monthly payment you have at east a bit of proof
of what you claim. You could also subpoena their phone records / records of calls. If they deleted it after they know/ knew
there was a problem that is additional evidence in your favor. In particular if it is not in the ordinary course of normal business practices. Yes, a damn lawyer!
This is an interesting point. Was the $1,100 fee an early termination fee as specified in the leasing agreement? Or was it some other amount. Either way, that amount has to match something specified in your lease agreement somewhere.
Getting litigious with a financing company is like kicking over a bucket of bee’s. A competent lawyers fee to review the contract, contact the financing company, and go through the rigamarole will be far more expensive than just paying the fee.
I would definitely ask them nicely, and call several different people in the financing department until you get a sympathetic ear. You’ll probably get some money off the Gravity if that’s going to be your next vehicle, at a minimum. YMMV.
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