- Joined
- Apr 22, 2023
- Messages
- 44
- Reaction score
- 41
- Cars
- AT/Cosmos Silver/Tahoe
- Referral Code
- XUNS9E4P
Hello Lucid Dreamers!
I'm a 58 year old male in Berkeley CA - just added a Lucid Air Touring to my stable. Previously driving a Jaguar XJL. Hedged my bets till the end because of concerns about reliability, and the 2 year lease (12k miles/$1567 pcm with $10K down/adj cap cost=$86,045/residual=$64,898) is kind of an extended test drive! But... So far so good! (after, like, 60 miles - so you may say it's a little too early to judge). The acceleration is mind blowing! The look of the car is stunning! And the rear seats have more space than the Jag (which has an extended wheelbase, hence the 'L')...
I backed out the monthly rate of interest on the lease as 8.3%* for the 24 month and 7.5%* for the 36/48 month. So, an expensive test drive(!). I did the calc by plugging in different down payments on the lease and calculating (using Excel goal seek) what interest rate gives the same present value. (*Note: Not an APR, but an annual rate by compounding the monthly rate of interest). Also, the buy in for extra miles is 12.9c a mile ("36 months" spreadsheet) vs the penalty of 25c a mile for going over mileage - not a huge delta. (Would love to share my Excel for comments but it is not an allowed file type for attachments).
Kind regards,
John / BerkeleyLeaser
Air Touring, glass roof/Cosmos Silver/Tahoe interior
Picked up: 4/21/2023
I'm a 58 year old male in Berkeley CA - just added a Lucid Air Touring to my stable. Previously driving a Jaguar XJL. Hedged my bets till the end because of concerns about reliability, and the 2 year lease (12k miles/$1567 pcm with $10K down/adj cap cost=$86,045/residual=$64,898) is kind of an extended test drive! But... So far so good! (after, like, 60 miles - so you may say it's a little too early to judge). The acceleration is mind blowing! The look of the car is stunning! And the rear seats have more space than the Jag (which has an extended wheelbase, hence the 'L')...
I backed out the monthly rate of interest on the lease as 8.3%* for the 24 month and 7.5%* for the 36/48 month. So, an expensive test drive(!). I did the calc by plugging in different down payments on the lease and calculating (using Excel goal seek) what interest rate gives the same present value. (*Note: Not an APR, but an annual rate by compounding the monthly rate of interest). Also, the buy in for extra miles is 12.9c a mile ("36 months" spreadsheet) vs the penalty of 25c a mile for going over mileage - not a huge delta. (Would love to share my Excel for comments but it is not an allowed file type for attachments).
Kind regards,
John / BerkeleyLeaser
Air Touring, glass roof/Cosmos Silver/Tahoe interior
Picked up: 4/21/2023
Ended up just paying cash.. felt way too bad to pay that much on interest over time
, you’ll have to give a follow up post when you hit a few milestones and tell us what you think.
