Official email from Rivian offering Binding Purchase Agreement

[McMoo]

I was a Ocean Coast pre order holder forever... but its not worth $7500 to me (I will hit the income exclusion). I switched to LG/FE and signed it. That had always been a close 2nd and it made sense.

There is no income or MSRP limit if you sign it. That’s the point. You are trying to be covered by the old pre IRA rules.

Sponsored

 

[Aroohoo]

Same here- canceled and reinstated. No email yet

I am one of the people who cancelled and then reinstated, but Rivian never re-charged me the $1000. I wonder if that will complicate any of this.

Will be contacted s00n:

• For customers with reinstated orders or pending deposits, we'll be contacting you soon.
• For customers with multiple deposits, we'll share a binding order agreement that, when signed, applies to all vehicles orders for which you've placed a deposit. If you only wish to apply the non-refundable deposit to certain orders, please contact the Customer Engagement Center.

From:
https://rivian.com/support/article/...utm_campaign=inflation_reduction_act_08102022

Both bullets apply to me, so will be interesting to see what comes of it.

I suspect they will ask for at least $100 to paid.


Also interesting is that this is open to anyone that places an order before the Act gets signed:

Only preorder and reservation holders can sign these binding contracts. For existing customers, we’ve emailed a link to review and sign a binding agreement to purchase your Rivian. For new customers who’d like to sign one of these binding agreements, you must first place a reservation for an R1T or R1S.

 

[paariv]

Signed! Now I just need the car!

 

[Mike TDM]

Will be contacted s00n:

• For customers with reinstated orders or pending deposits, we'll be contacting you soon.
• For customers with multiple deposits, we'll share a binding order agreement that, when signed, applies to all vehicles orders for which you've placed a deposit. If you only wish to apply the non-refundable deposit to certain orders, please contact the Customer Engagement Center.

From:
https://rivian.com/support/article/...utm_campaign=inflation_reduction_act_08102022

Both bullets apply to me, so will be interesting to see what comes of it.

I suspect they will ask for at least $100 to paid.


Also interesting is that this is open to anyone that places an order before the Act gets signed:

Yep saw it. Thanks!

 

[rpmichelson]

Email offering binding purchase agreement is out but the form doesn't confirm yet when you sign:

​ ​ ​ We've received quite a few inquiries from the Rivian community asking how the Inflation Reduction Act (IRA) may impact your eligibility to obtain the $7,500 IRC 30D federal EV tax credit when you purchase your R1T or R1S. Here's what we know and how we plan to support our customers’ efforts to maintain eligibility for the federal EV tax credit. The Inflation Reduction Act may soon become law. Once signed into law, the Inflation Reduction Act will add new restrictions to buyers’ eligibility to receive the $7,500 IRC 30D federal EV tax credit. Under these new restrictions, an electric pick-up truck or SUV must be priced below $80,000 and the buyer must fall below certain income thresholds to qualify. Fortunately, buyers who have a “written binding contract” to purchase a qualified EV before the Inflation Reduction Act becomes law will be able to apply under the current IRC 30D tax credit requirements. What Rivian preorder and reservation holders can do. If you’d like to sign a binding contract for your R1T or R1S purchase, click “Review and Accept” below. Signing the contract will make $100 of your existing $1,000 deposit non-refundable and help you to maintain eligibility to apply for the $7,500 tax credit under its current requirements. According to the Senate bill, any customer with a binding contract will not be subject to the new vehicle price and income restrictions when applying for the federal tax credit, regardless of the vehicle delivery date. We do want to caution that the final bill terms are not certain and have not yet been passed by the House of Representatives. Further, we cannot guarantee that the IRS will approve tax credit eligibility as we interpret the terms of the Inflation Reduction Act. However, we are offering our customers this opportunity as a way to do what we can to increase the probability of receiving the $7,500 IRC 30D tax credit. When will the Inflation Reduction Act be enacted? While we can’t predict exact timing nor guarantee it becomes law, this bill has already passed the Senate and will head to the House for a vote on Friday, August 12. All indications are that this legislation should pass the House and then be signed into law. Once signed, the Inflation Reduction Act is considered enacted. Rivian customers interested in signing a binding contract may do so by clicking the button below and agreeing to the terms. Once the Inflation Reduction Act becomes law, customers will lose this chance and be subject to the new restrictions on vehicle price limits and personal income caps. What happens if I decide to do nothing? Taking this step is your choice. If you decide not to sign the binding order agreement, your Rivian deposit will remain under our existing fully refundable terms.​

​

​ ​ ​ If you have questions, we’re here to support. Tony Caravano Head of Customer Engagement​

Signed

 

[Husker Charlie]

Guys, I'm still trying to confirm...my document doesn't have my name anywhere...only states, "customer signature". Is that what all yours say as well? Seems like anyone could just print that and sign it...

Same. There's no way they could create individual agreements for each pre-order holder in this shirt amount of time, so they went with "Customer Name"

 

[Gsxr150]

Same. There's no way they could create individual agreements for each pre-order holder in this shirt amount of time, so they went with "Customer Name"

Ok sweet...thanks.

 

[Gsxr150]

The PDF? That's for your records for your tax return. Yeah, I guess anyone could print it and sign it, and submit a false tax return......

Perfect. I just figured there had to be some additional details but guess not...I'll worry about that when I file next year.

 

[Jagger027]

There is no income or MSRP limit if you sign it. That’s the point. You are trying to be covered by the old pre IRA rules.

Yes that's what I thought unless am missing something ?

 

[ewcanes]

Is this useful for expected 2024 deliveries?

 

[mabowden]

 

[Sully151]

Man, a $100.

According to some people around here, that might be a big pill to swallow for my low SoCal income. I better sell off some things.

Or go back to street performing.

 

[sk00pie]

“Signed” meaning you added your name and email to the fields then hit accept? And then received a generic order agreement without any personal information on it?

 

[Aroohoo]

Is this useful for expected 2024 deliveries?

If it happens in 2024, it doesn't help per the current wording.

IMO, I would still sign it, never know if you get delivery prior to the estimated 2024...a $100 seems worth the hedge.

 

[NMflyfish]

Signed and documented

Sponsored