The all-electric Lucid Air isn’t cheap and in a bid to broaden its appeal, the car manufacturer has just announced Lucid Financial Services that will offer lease and loan options for customers.
Lucid Financial Services consists of a digital platform that encompasses all aspects of the vehicle purchasing process and is done completely online. Bank of America will offer Lucid Air customers competitive financing rates and 24-, 36-, or 48-month leases, as well as loans with various length terms.
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“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 in a statement. “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.”
The car manufacturer hasn’t said how much its leasing and loan options will cost but notes that the finance application and e-signing of contracts can be done online.
“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,” head of vehicle lending products at Bank of America, Fabien Thierry added. “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 Financial Services is currently available to U.S. customers taking delivery of the Air Grand Touring models and later this year will be available to those taking delivery of Touring and Pure models. The launch of the program comes a couple of weeks after the Air was hit with a recall.
