Official email from Rivian offering Binding Purchase Agreement

[protamine]

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.

I know. I was worried about another ocean coast delay and missing it.

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[CO-rayman]

So I tried to accept by putting in my full name and email. But after clicking on Accept, it jus brings me right back to the same page. Did it go through? There's no indication anything happened.

Tried in Chrome and Edge browsers.

I signed as well. After you put in your email and name and click agree, it should give you another page that tells you to download the PDF version and asks you sign with a wet signature and keep for your tax records.

So, based on what you are saying, I don't think yours went through. I am assuming your email has to match whatever they have on file (i.e., the email address where you received the agreement).

 

[sk00pie]

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.

wht wouldn’t this apply for 2024?

 

[Aroohoo]

wht wouldn’t this apply for 2024?

Current wording of the bill out of the Senate says you have to take delivery in 2023 on a binding agreement entered into before the bill is enacted.

 

[Singletracker]

Is anyone else also considering making their config less than 80k just in case this binding contract turns out to be a dud in the final rulings? Or if they get their truck in 2024+.

[EDIT]
I just saw on the https://rivian.com/support/article/...t-impact-my-eligibility-for-the-electric-vehi page that signing this does not lock your configuration. Interesting amount of flexibility with binding pre-order

I get that it may not lock one’s configuration. However, for pre March 2022 orders, does their price lock go away when they change configurations? For instance, there can be a signficant difference in color prices and even accessory prices. Going forward, after I sign a BPA, am I going to be paying pre 3/22 prices, for all items changed, Or, for any changes I make to my order, will I be paying whatever the current price is ??‍

 

[Dublin ‘Eer]

So, this line is making me not want to sign this:

"You hereby create a binding contract with Rivian obligating you to purchase the Vehicle. "

I'm still not certain I will buy the Truck.

Maybe this is just required for the contract itself. Rivian will have no issues selling the Truck if I decide not to take it and would just let me walk away and give me back $900... Wouldn't they

If there is more than a 13.33% chance you’ll buy (1,000/7,500), you should sign.

 

[Husker Charlie]

Current wording of the bill out of the Senate says you have to take delivery in 2023 on a binding agreement entered into before the bill is enacted.

Where does it say that?? I've been looking, and I can't find it, and I've seen other people make this same statement. The text of the Transitional Rule from the Act says:

"(l) TRANSITION RULE.—Solely for purposes of the application of section 30D of the Internal Revenue Code of 1986, in the case of a taxpayer that— (1) after December 31, 2021, and before the date of enactment of this Act, purchased, or entered into a written binding contract to purchase, a new qualified plug-in electric drive motor vehicle (as defined in section 30D(d)(1) of the Internal Revenue Code of 1986, as in effect on the day before the date of enactment of this Act), and (2) placed such vehicle in service on or after the date of enactment of this Act, such taxpayer may elect (at such time, and in such form and manner, as the Secretary of the Treasury, or the Secretary’s delegate, may prescribe) to treat such vehicle having been placed in service on the day before the date of enactment of this Act."

I read this as just saying that as long as you have a BPA, the old credit will be available for any vehicle placed "in service on or after the date of enactment of this Act," with no delivery date limitation. Am I looking in the wrong spot??

 

[sk00pie]

Current wording of the bill out of the Senate says you have to take delivery in 2023 on a binding agreement entered into before the bill is enacted.

Ah crap I have a a 7/22 reservation I’m screwed.

 

[Forager]

You caught the same thing I caught. That definitely seems like if we don't lock our configuration, we may lose our pre-March 1 pricing.

After more reading on the FAQ, we aren’t configuration locked, but no where does it say changes can occur at the old price. I’m definitely switching to an R1T/ FG / OC, just need to decide on wheels and trim…

Maybe I’ll do Adventure since Explore price has remained the same. I just don’t want delivery until next summer.

 

[SkyFall]

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​

Is anyone signing this for delivery in 2022? Our R1T is on a train and ETA for delivery in August/Early Sept. Not sure we need to sign a binding agreement.

 

[electruck]

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

Sure, no down side to Rivian offering this. Doesn't mean the IRS won't decide to implement a cutoff based on delivery date or find some other way to effectively disqualify people signing these agreements. Still lots we don't know about how this will play out.

 

[SACDFJC]

Hopefully my email comes in one of the next waves of emails...

Only email I received today was from a guide asking me to rate my satisfaction with my wall charger from 0 to 10. LOL!

 

[Lmirafuente]

I typically get these emails...but I have NOT received this one yet...
Customer Support Chat must be inundated as the team for general or order categories are unavailable...

 

[Friscorays]

Is there a deadline? I'm on the fence about the $100.

Yes. Once Biden signs the Bill (as early as this weekend or almost certainly early next week) transition option is no longer an option.

 

[The.Warp.Drive]

Placed my reservation about 5-6 weeks ago. Received the tax email. Signed it. Still a lot of variables. Due to the new no price/config way of doing things, who knows what I will get/pay. Caution to the wind I suppose.

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