Hot on the heels of Lucid launching its new Financial Services business, a user at the Lucid Owners Forum has determined just how much it costs to lease the Air sedan.
Given that the flagship Lucid Air Dream Edition is now sold out, the highest-specification Air available is the Grand Touring, priced from $142,995 excluding the $7,500 federal EV tax credit. It’s not a cheap car to buy outright and it’s certainly not cheap to lease either.
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As reported by Lucidinsider, with a $10,000 down payment and a lease term of 48 months, allowing for 15,000 miles annually, shoppers will need to spend a total of $13,071 at signing and have an average monthly payment of $2,076 when the $7,500 tax credit is factored in. These figures do not include taxes, title, registration, license, insurance, and maintenance fees.
If you were to spend $2,076 a month to lease the Lucid Air Grand Touring for 48 months, that works out to be $99,648. Including the amount due at signing, that adds up to $112,719, $30,000 less than it would be to purchase an Air Grand Touring.
Lucid has teamed up with Bank of America to offer its leasing and loan options and should customers prefer, they can choose to lease the Air for 24 or 36 months.
“Lucid Air customers have requested flexible financing options, including lease and loan purchase, with many of them preferring a 100% digital experience,” Lucid’s director of financial services, Amira Aly said during the announcement of Lucid 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.”