Lease or Buy R2 ?

[Bhulabhatka]

I like to keep the vehicles longer but am skeptical with buying ( and leasing instead) the year-1 R2..
What are others thoughts on this?
I am coming from Tesla Y and not regretted buying it.

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[LevelHeaded]

If the lease numbers were at all attractive maybe it would make sense.

Either way, plan for significant depreciation in the first couple years. So, don't buy if you might sell it in the first couple years. But it's also not a great lease option right now given the numbers. If I were worried/unsure about my length of ownership, I'd wait until after the initial launch period when demand wanes and lease deals show up to get one.

If you just want the shiny new thing and don't care about paying extra to have it, either option works.

 

[Millbarge]

I'm not a leasing person, but from what I'm reading, lease rates are terrible for Rivian.

 

[Tracaus]

I picked up my R2 today and it replaces a 2023 Tesla Model Y that I leased. I typically don't switch cars every three years, but I had EV anxiety and opted to lease. I will never lease again as I still have not seen an advantage to it unless you want a new car all the time. I loved the Tesla, but the timing was perfectly aligned with the R2 launch. I also think it helped me jump the line (sorry, Rivian owners) as my lease expires at the end of the month. I purchased and added the 4 year extended warranty. If I can get 8 years out the R2, I will call that a win. I've only had the car a few hours, but the interior blows away the Model Y. My unexpected favorite feature are the ventilated seats, which rock on an 88 degree day. Towing ability and storage were other big factors as I have a popup camper and all the gear for when we camp. Just a perspective.

 

[sparked]

Buy it. Leasing comes at a premium right now. If you need financing, search around with credit unions.

 

[dscoti]

While my leasing experience is limited, it was not the best. My wife leased for years before we met and was very happy with it. I would certainly consider leasing the R2 if the rate was "normal" and "competitive", especially as this is a Gen 1 R2, with RAP1/LiDAR coming. It seems Rivian wants to push people to purchase so they have their money now and not get stuck with overpriced lease-return EVs. Just my 2¢ worth.

 

[Bhulabhatka]

I picked up my R2 today and it replaces a 2023 Tesla Model Y that I leased. I typically don't switch cars every three years, but I had EV anxiety and opted to lease. I will never lease again as I still have not seen an advantage to it unless you want a new car all the time. I loved the Tesla, but the timing was perfectly aligned with the R2 launch. I also think it helped me jump the line (sorry, Rivian owners) as my lease expires at the end of the month. I purchased and added the 4 year extended warranty. If I can get 8 years out the R2, I will call that a win. I've only had the car a few hours, but the interior blows away the Model Y. My unexpected favorite feature are the ventilated seats, which rock on an 88 degree day. Towing ability and storage were other big factors as I have a popup camper and all the gear for when we camp. Just a perspective.

Congratulations!! What is the cost of the 4 year warranty?

 

[Lysdexic]

Congratulations!! What is the cost of the 4 year warranty?

I am curious as well.

 

[tivoboy]

The extra signifanct premium for the leasing would easily cover another year of depreciation at thsi point.

 

[Tracaus]

Congratulations!! What is the cost of the 4 year warranty?

It was $3400ish with a $250 deductible and provides 8 years of total protection. (+4 years beyond warranty).

 

[runwithscissors]

roughly 10% lease rate is bananas. Most people want to lease and I think it will definitely affect sales at that rate.

 

[dscoti]

It was $3400ish with a $250 deductible and provides 8 years of total protection. (+4 years beyond warranty).

Was this Rivian Care or something else I don’t know about?

 

[Finnster]

The Money Factor on Rivians lease is absurd.

 

[runwithscissors]

The Money Factor on Rivians lease is absurd.

Probably because it's new and they have no idea if they screwed up the residuals so they are covering their asses.

 

[Tracaus]

Was this Rivian Care or something else I don’t know about?

This is RivianCare offered by Assurant.

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