Business
Lucid Unveils Lucid Financial Services with Bank of America
All-New Digital Platform Offers Flexible, Fast and Easy Online Financing, including Lease and Loan Purchase Options to Lucid Air Customers NEWARK, Calif.,
About this update from Lucid Group, Inc.
[{"type":"text","content":"All-New Digital Platform Offers Flexible, Fast and Easy Online Financing, including Lease and Loan Purchase Options to Lucid Air Customers \nNEWARK, Calif., June 7, 2022 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today unveiled Lucid Financial Services, an all-new digital platform offering a flexible, fast and easy financing process, including lease1 and loan2 purchase options to Lucid Air customers. 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 Financial Services is offered to Lucid Air customers as part of a seamless online experience through a strategic relationship with Bank of America. \n\n \n \n \n \n \n \n\n \nThe Lucid Financial Services digital platform enables all aspects of the vehicle purchasing process to be completed online, including the finance application and e-signing of the finance contract. Lucid Financial Services also offers a concierge service with a high-level of personalized support that can assist customers in navigating the application process. Bank of America offers Lucid Air customers competitive financing rates subject to approval. Customers can apply for 24-, 36-, or 48-month leases, and loans with various length terms. Approval for any term will depend on a customer's individual situation. \n\"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.\" \nAccording to J.D. Power's 2021 U.S. Sales Satisfaction Index, satisfaction was higher among online car shoppers than those who visited brick-and-mortar dealerships in both the premium and mass-market segments. Bank of America has reported that customers applying for auto financing initiated through ...