u/DNA_at

Hi folks,

I have been tracking the lease deals and terms (money factor, RV%) for Lucid and Rivian for some time now. With the mods’ permission I’m happy to share my data which is available in full here and includes a lease deal tracker, leasing guides, and lease vs loan calculator. I’ve broken down the available incentives and highlight deals below:

Lucid incentives (updated May 16):
- Lucid Lease Credit: $7500 for the Gravity, $12500 for the Air Pure/Touring, and $15000 for the Air GT. Automatically applied
- Studio Select (updated): $3000 discount available on certain local inventory. Confirm vehicle eligibility with your SA (there is no way to know which vehicles are eligible otherwise)
- Trade-in (updated): $5000 bonus with trade-in of any non-Lucid vehicle. Previously the full bonus was only available for a Tesla, Rivian, or Polestar, but can now be applied on your 15 year-old Civic.
- Conquest (updated): $2000 if you own/lease any non-Lucid vehicle
- Loyalty: $2000 (Air) $3000 (Gravity) if you own/lease a Lucid vehicle. Cannot be combined with trade-in

Rivian incentives:
- Rivian Lease Credit: $3000 towards a R1S/R1T Dual Standard and Dual Max w Performance

Highlight deals:

1. ⁠With a trade-in and Studio Select, it's an exceptional time to lease a Gravity Touring or Air Pure/Touring. The massive available incentive stack disproportionally favors the lower MSRP trims.
   1. ⁠A full Gravity incentive stack totals $17.5k ($2k Conquest + $5k trade-in +$3k Studio Select + $7.5k Gravity lease credit). On a base Gravity Touring, that gets you $679/mo (0.83% MSRP/mo) before taxes and fees. This month already saw improvements in the Gravity Touring's MF and RV%. The updated incentives push the rates towards a truly excellent deal. ⁠
   2. A full Air Pure/Touring incentive stack totals $22.5k ($2k Conquest + $5k trade-in +$3k Studio Select + $12.5k Air lease credit). Fully discounted, the Pure starts leasing at $626/mo (0.86% MSRP/mo) and the Touring at $708/mo (0.87% MSRP/mo). While I've been hesitant to recommend leasing a MY'26 Air without hearing about the MY'27 updates, these deals are worth seriously considering.
2. With just Conquest/Studio Select, it's still a great time to lease a Gravity Touring. The Gravity Touring lease structure had improved on both money factor and residual value from prior months, and was just waiting on Studio Select to return to become a better deal than April and likely even March/end of quarter. Conquest and Studio Select nets you a base Gravity Touring at a competitive $821/mo (1.01% MSRP/mo), cheaper than the R1S Dual Standard at $899/mo. Remember to be stingy with options due to its degrading residuals, compounding the increase in monthly payment. This is detailed in my leasing guide as well.
3. The best Rivian lease deals are coincidentally on the base trim, the R1S Dual Standard, making it the cheapest monthly payment by a large margin. While Rivian lease deals haven't been as aggressive as Lucid as of late, this month's deals on the base Dual Standard are almost $200/mo cheaper than last month and $300/mo cheaper than the next cheapest trim. If you're dead-set on leasing a R1S/R1T this month, the Dual Standard is the best value. Otherwise, I would look at financing the higher spec'd trims as they offer better value especially with the promotional 1.99-2.49% APR loans. Compare the lease vs finance values on this calculator.

Happy to answer any questions.

Hi folks, I've been tracking the Lucid (and Rivian) lease deals (incentives, money factor, RV%, %MSRP/mo) for a while now. With the mods' permission I'm happy to share all my current/historical data on drivejoule.com. You can check out the full lease tracker here for an easy comparison of lease terms/value across makes, models, trims, and months, with customizable incentives. Additionally, check out this month's Gravity leasing guide which contains its own mini April/May calculator.

Here are this month's highlights:

1. Overall, Gravity lease deals are structurally worse this month because of a) shortening of the standard lease term from 39-months to 36 months, and b) the removal of Studio Select.
2. The Gravity Touring lease terms are considerably improved from April. The money factor is significantly improved (0.00062, from 0.00094). Also improved is the RV% degradation with increasing options (52.5% > 51.1%, from 50.6% > 46.9%), meaning you are less punished for piling on options. However, these do not overcome the changes in #1 (1.08-1.20% MSRP/mo with conquest now, compared to 0.99-1.19% last month with conquest + studio select, base - fully optioned). But, if you were already eyeing a Gravity Touring that did not qualify for Studio Select, these actually lease better this month (1.08-1.20% vs 1.09-1.27% last month). If you are able to snag Studio Select this month, the Gravity Touring is a clear winner - even compared to April (0.97-1.15% MSRP/mo, conquest + studio select compared to 0.99-1.20% MSRP/mo, conquest + studio select).
3. Conversely, it is not a good month to lease the Grand Touring. The Gravity Grand Touring lease terms are overall worsened from April. Money factor is significantly worsened, almost doubled from April (0.00108, from 0.00059). Minor improvements in RV% slightly help (53.7%, from 52.3%) but don't completely offset MF changes and #1 . Overall lease value is worse (1.16-1.23% MSRP/mo with conquest vs 0.97-1.05% in April with conquest+studio select).
4. Consider waiting for Studio Select to reappear. Studio Select is a lease credit for local/regional inventory that often is removed at the start of a month and reappears around holidays, weekends, and mid/late month - sometimes under a different name (Earth Day, St. Patrick's Day, Level Up... sneaky Lucid). The avid dealhunter may want to wait for Studio Select to reappear, although a) at the expense of desirable inventory and b) at the risk of it not reappearing. Other general lease tips apply from my April post (qualifying for conquest, cashing out trade-in) and is also broken down on the Gravity leasing guide.
5. In Lucid's terms, "stay tuned" for the Air lease breakdown, although preliminarily looks like overall leases are worse than last month, probably in large part due to #1.

Happy to answer any questions.

TL;DR: overall leases are worse compared to April; Gravity Touring is this month's pick; weigh the risks of waiting for Studio Select to reappear; Gravity Grand Touring fans may consider waiting for June (or kicking themselves for not following my April PSA!)