EV Maker Lucid Announces New Captive Finance Company
Lucid Motors would not just want to offer you an electric powered automobile, it needs to aid you finance it, also. The automaker just lately introduced that it is having into the monetary companies facet of items by launching Lucid Economic Expert services through a partnership with Bank of The united states. Lucid suggests its all-electronic financing system is the end result of client requests for adaptable financing choices, with lots of preferring a 100% electronic experience.
The program is at present obtainable to consumers now who are getting delivering of the Lucid Air Grand Touring. Lucid claims it will also be out there to those people taking supply of Touring and Pure styles later on this yr. The automaker states all facets of the vehicle obtaining approach can be finished on line, which includes the finance application and e-signing of the finance contract. Lucid states Bank of The us features Lucid Air clients competitive financing subject matter to acceptance. Shoppers can utilize for 24-, 36-, or 48-month leases, and loans with different length conditions. Approval for any time period will rely on a customer’s specific problem.
“Lucid Air shoppers have requested flexible funding solutions, which includes lease and personal loan acquire, with numerous of them preferring a 100% digital encounter,” reported Amira Aly, Lucid’s Director of Money Solutions. “Lucid Monetary Expert services is all about providing a finest-in-course finance journey from on the web software to e-signing with full transparency of phrases and adaptable buying possibilities. Our goal is to renovate car financing by introducing new procedures that allow our shoppers to knowledge the luxury and technologies of Lucid electric motor vehicles.”
Lucid suggests according to J.D. Power’s 2021 U.S. Sales Satisfaction Index, on the net shoppers are extra contented than those people who visit brick-and-mortar dealerships, irrespective of whether it truly is the top quality or mass-marketplace phase. In addition, it says Bank of America studies a steady improve in digital vehicle obtaining. BofA claims consumers making use of for vehicle financing initiated by means of its electronic platforms improved by 21% in 2020 and yet another 18% in 2021 to a new higher of 77% as of yr-conclusion 2021.
“We are delighted to provide customized fiscal answers to customers for leasing or obtaining Lucid autos, and our digital alternatives make it rapid and easy to use for funding,” mentioned Fabien Thierry, Head of Car or truck Lending Merchandise at Lender of The us. “Our partnership with Lucid helps us satisfy expanding customer demand from customers for electrical automobiles and reinforces our $1 trillion dedication to environmental changeover and lower-carbon remedies.”
In March 2022, Financial institution of America grew to become the to start with bank in the place to be licensed by J.D. Ability for Monetary Well being Assist. Lender of The usa claims the certification acknowledges fantastic amounts of shopper satisfaction with money overall health support offerings.
Photograph Credit: Lucid Motor Company.
This report at first appeared on