u/DNA_at — reddlx

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:

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.
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).
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).
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.
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!)

I've been following the Lucid lease trends for a while and wanted to share my findings for those interested especially with the April terms expiring soon.

Lucid Gravity Grand Touring lease terms this month are fairly competitive (MF 0.00059, RV% 52.3%) and are actually considerably improved from end of quarter(!) deals last month (MF ~0.00136). Assuming Studio Select and Conquest (total $12,500 in incentives), you can get a base GGT at $94,900 for ~$918/mo excluding taxes and fees, or 0.97% MSRP/mo.
The Gravity Touring is a bit of a trap. It leases at 0.99% MSRP/mo at base spec but then degrades to 1.20% when fully optioned because Lucid sneakily decreases the RV% from 50.6% to 46.9%. A mid spec Gravity Touring is an OK value at ~1.11% ($1049/mo for $94,900 MSRP).
The outgoing MY'26 Lucid Air is also leasing well at ~1.00% MSRP/mo across all 3 trims with the Air Grand Touring rocking a whopping 0.00001 MF (not a typo). I just think the Air is due for an update and personally don't know if I'd lease a brand new Air right now without hearing about what MY'27 might bring. The MY'27 Gravity however is already announced with no major updates and instead, Lucid has announced significant planned updates for the current Gravity stack (including point-to-point self driving).
Trade-in bonuses of $2k or $5k make the current lease deals exceptional, especially if your trade-in qualifies for $5k (Tesla/Rivian/Polestar owners, now's a good time to make the switch!). Cash out the remaining trade-in value to avoid putting down a significant amount towards a car lease.

Happy to answer any questions.