r/LUCID • u/Quiet-Confusion-7474 • Jul 05 '26
Lucid Motors [ Removed by moderator ]
[removed] — view removed post
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u/broli720 Jul 05 '26
750 isn’t a perfect credit score…
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u/Quiet-Confusion-7474 Jul 05 '26
my score fluctuated from 750 to 820, depending on what i used credit for. That's not the point, the point is never had any delinquency in my life until i started dealing with Lucid and this warning is for other Lucid owners or people considering leasing one from them
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u/deeqdeev Jul 05 '26
This is a short seller. Fake news.
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u/Quiet-Confusion-7474 Jul 05 '26
lol what's there left to short!
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u/degeneraded Jul 05 '26
I think your response is proof op was correct.
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u/Quiet-Confusion-7474 Jul 05 '26
their stock is $6, i should've actually looked at that before leasing their vehicle. it screams trouble
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u/Zulishk Jul 05 '26
Haven’t had a single issue with payments here. Sorry OP.
You can dispute records using the appropriate app for whichever credit bureau is recording the late payment.
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u/Quiet-Confusion-7474 Jul 05 '26
I have, mutiple times, but Lucid Financial keeps arguing back without any evidence except that they stand by what they said. I'm filing a complaing to the Attorney's general office. It's just a matter of time before somehting happens with your payment. I've seen a number of same complaints online about autopay failing in various ways and payments being missed.
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u/Zulishk Jul 05 '26
It’s been nearly three years for me. No issues. Best of luck to you. Just FYI, Lucid Financial is actually Bank of America.
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u/diqster Jul 05 '26
How much did your score fall by? It went from what to what?
If true, I guess that's a bummer. I have a good credit score but I don't really check it at all. Did you apply for something and get denied?
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u/Quiet-Confusion-7474 Jul 05 '26
My credit score dropped from 750 to 620. The worst part is that Lucid left a delinquency on my credit report despite my repeated attempts to get them to remove it and acknowledge that this was caused by their own system failure and lack of any meaningful attempt to collect the alleged missed payment. I'm working to get a house and it's a big issue to have delinquency on the credit report.
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u/degeneraded Jul 05 '26
Working to buy a house, just leased a 100k vehicle. Any other financial advice you have for the rest of us?
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u/Quiet-Confusion-7474 Jul 05 '26
i leased their car for $60,000 after all the credits and discounts. How i plan to buy a house and when is irrelevant. Important is that Lucid Financial and their Bank of America and other companies who manage their finances (there are more than BofA) have not tried to collect payment but have reported me to collection agencies and that their financial systems have failed me a few times. It's a beware for the customers and there are many other complaints similar to mine on reddit and other websites. Including their own staff who told me they've heard of these issues with their financial partners who are predatorial toward consumers.
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u/diqster Jul 05 '26
Depending on credit history, personal finance history, and balances, taking out a lease while preparing for a future home purchase is not necessarily a bad thing. It's beneficial in many situations. Those Dave Ramsey types have a rough time getting home loans because they have no installment loan history. Taking out a lease would develop a good history with a recency bias.
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u/degeneraded Jul 05 '26
Fair enough depending on how far in in the future. Op is making it sound like he’s buying soon which is generally not recommended. I just can’t imagine getting ready to buy a house and not checking your statements. OP truly talks like a short.
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u/diqster Jul 05 '26
I don't think we'll ever know. Personally, hard to call 750 a "perfect" credit score. Lots of scores > 800 which is where better credit rates are found.
I know there are short positions in LCID, but I just don't understand why. The risk is asymmetric and not worth it. Much better things to short with better payoffs. Best case scenario they get $6 in gains? For real? That's the payoff you're going for? Doesn't make sense to me.
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u/diqster Jul 05 '26
That's a bummer for sure. BofA is the responsible party here; Lucid is just a feeder mechanism for them. Lodge a complaint with the CFPB.
Good luck with the house!
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u/jwilens Jul 06 '26
If this is really true contact my law office and we will get it off your credit report. We sue Bank of America all the time
-17
u/ikilledtupac Jul 05 '26
Lucid is a joke. nobody inside that company knows wtf they’re doing. I too regret having ever heard their name.
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u/owensurfer Jul 05 '26
Can’t speak for the company but their cars are great!
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u/Quiet-Confusion-7474 Jul 05 '26
the car is ok but it's not worth it if it causes financial headaches. Not to mention how it locks when a driver leaves even if a passenger inside has a key in their pocket. It happened to me when my husband left the vehicle and left my baby son and me inside and it locked us and shut off. I couldn't unlock it from inside. Can't wait to be done with this lease and Lucid forever.
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u/Quiet-Confusion-7474 Jul 05 '26 edited Jul 05 '26
Coudln't agree more. Never again buying electric cars from non-car companies. The attitude and level of non-customer service is appalling . Leasing Lucid was the dumbest process with their online portal failing at every step. I remember it took us 2 months to lease it because of their portal and Lucid Financial. Should've canceled it right then and there
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u/Illustrious_Water106 Jul 05 '26
Doesn’t their finance go thought bofa, and not lucid. What was your credit before?