I am new to leasing. I can’t figure out how find the residual or money factor on the calculator for a 2026 Lucid Air Grand Touring. When I use Rate Findr it shows nothing for Lucid for any year. Am I missing something?
I am uncertain if this is a good deal or not even with the incentives from Lucid because I’m in Texas. I do not plan to keep the car past the lease - tech is moving way too fast now. If I bought it I would probably just keep it. They are fantastic cars.
Lucid’s incentives are $11,250 off list for lease plus a Conquest incentive of $2,000 off plus (MAYBE) a referral discount of $1,250 for the Air Grand Touring. Note that I am in Texas so my sales tax is 6.25%.
Buying incentive is $7,500 off and MAYBE the referral discount. However with $20k down the interest rate is 1.44%.
It looks like you “might” be able to look it up in RateFinder with a VIN and not by model. I went to the Lucid site to see if I could get a VIN, alas I could not. Do you have a VIN from a sales advisor you could try? Many times when the lessor is B of A or Chase, those two banks many times do not provide the data to Edmunds which would then filter through to RateFinder.
As mentioned on the other thread, Lucid is similar to Tesla or Rivian in that your either happy with the payment or you aren’t. It isn’t exactly negotiable outside of the referral code which would help the cause.
I also suspect the lessor doesn’t have tax credits available and the way TX structures the tax on leases would be prohibitively expensive without said credits for a Lucid.
I wasn’t thinking about negotiating so much as trying to determine if the lease was a good deal or not. I’m not sure if I should buy or lease, but I know everyone suggests a lease on EVs due the depreciation from rapid development.
Unfortunately B of A doesn’t provide their mf’s / rv’s to the data provider for RateFinder which I imagine is the reason you signed up for it. I would think you might be able to ask a sales advisor for the info.
As with most people I’d prob avoid an EV purchase, though for me it’s more the depreciation that gets to me vs evolving tech for some people. To each their own though.
It looks like the “air credit” is taking the place of the now gone federal tax credit. That has to hurt profitability. I wouldn’t be surprised to see some of these smaller EV only companies go bankrupt. I imagine they would be bought up by one of the larger companies pretty quickly though.
I’m in Texas trying to work out how leasing works. I’m going to lease a 2026 Lucid Air Grand Touring. They are offering a lease incentive right now of $11,250. I wasn’t able to find anything for any Lucid using Rate Findr, so I asked AI (see bottom). I sent the Lucid document and asked it to determine the residual value and money factor.
My LeaseHackr calculator must be incorrect somewhere. My due at signing and monthly payments amounts don’t match what the document from Lucid shows.
Would someone mind taking a look and telling me where I wrong? I think I’m starting to understand this, but evidentially still failing somewhere. Maybe AI’s calculations are incorrect?
Oh I agree it’s expensive, and the depreciation is pretty wild. Buying the 2022 means the warranty will be expired within 12 months and there are no extended warranties from Lucid available.
It’s great that you want to learn and for a learning exercise to understand how it all works pick another brand like BMW then research how much are people getting off of MSRP ( the dealer discount ), then check Ratefinder for RV / MF and incentives. Plug them into the calc and you should start to get an idea. Then you can look at how MSD’s or One-Pay affect the MF and reduce your effective costs. You may not be interested in BMW, I just picked that brand so that you can get a slightly better idea of how it works with most mainstream brands.
On the main LH page we have all sorts of tutorials / wikis on how to understand this stuff, a calc tutorial, and a YouTube video that goes over quite a bit.
Since your in TX I think you have a grasp on how lease taxes are structured in that state and occasionally a lessor will provide tax credits that lower the percentage tax from ~ 6.5% down to 1.25% or so. Those certainly help.
With Lucid, Rivian, Tesla, there really aren’t a lot of ways to improve what you see online. Ask a sales advisor about a demo and you might improve the deal slightly.
I have always thought I would buy new, but this is my first time even looking into leasing so I was trying to better understand how it worked with something related with what I’ve been doing. More practical and less theoretical. Well… not that leasing a Lucid GT is in ANY WAY practical.
Most likely scenario (Lucid Financial Services / BofA promotional lease):