Lucid Motors announced its new Lucid Financial Services, in partnership with Bank of America to offer both loans and lease options for the Lucid Air. Lucid Motors wrote it has “unveiled Lucid Financial Services, an all-new digital platform offering a flexible, fast and easy financing process, including lease and loan purchase options to Lucid Air customers.”
I was planning on paying cash for the Lucid Air but I am going to investigate the leasing options now. Lucid said “the program is accessible to U.S. customers now taking deliveries of Lucid Air Grand Touring models and will also be available to customers taking delivery of Touring and Pure models later this year.”
Lucid is offering 24-month, 36-month, or 48-month leases.
“Lucid Air customers have requested flexible financing options, including lease and loan purchase, with many of them preferring a 100% digital experience,” said Amira Aly, Lucid’s Director of Financial Services. “Lucid Financial Services is all about delivering a best-in-class finance journey from online application to e-signing with full transparency of terms and flexible purchasing options. Our goal is to transform vehicle financing by introducing new processes that enable our customers to experience the luxury and technology of Lucid electric vehicles.”
“We are delighted to provide tailored financial solutions to customers for leasing or buying Lucid vehicles, and our digital solutions make it fast and easy to apply for financing,” said Fabien Thierry, Head of Vehicle Lending Products at Bank of America. “Our relationship with Lucid helps us meet growing consumer demand for electric vehicles and reinforces our $1 trillion commitment to environmental transition and low-carbon solutions.”
Lucid Notifies Customers Of New Leasing & Financing Options
Later today, Lucid Motors emailed me about this and sent me to more details, here is the email that leads to the new FAQs:
Lucid Motors has posted a new FAQs on financing and leasing through Lucid Financial Services this morning. Here is where you can learn more:
You can access the Lucid Financial Services application through the Lucid customer portal in the “Designs & Orders” section when it’s time to apply. You can also contact a dedicated concierge for Lucid Financial Services customers directly to answer any questions you may have.
The issue is, when I called the financing number, they had no idea what to tell me yet. So I am waiting to hear more from Lucid on what the leasing options are and how much they might cost.
Possibly More Details
Some other customers got a bit more information out of their Lucid representatives later in the day, as posted here:
- Leasing calculator will be available on the site soon
- $7,500 Federal tax credit is still available
- Your Delivery Advisor will figure out the final details with you around cash, financing or leasing
- Buying the car at the end of the lease seems likely
Supposedly the lease calculator won’t show up for anyone who is not expecting their car within 30 days. The rest will have to wait and see what the lease will cost… At least for now…
Some are worried that Lucid Financial Services will not give an option to buy the car after the lease expiration, like Tesla did. This was posted in the Lucid Owners Forum as a concern.