Lost $20,000 of equity in 5000 miles ? No way...

[Gsxr150]

Make your own judgment here, but I'll share a couple facts...

1) Many folks keep saying "an $80k truck".
2) To buy a fully loaded truck today is closer to $100k.
3) Many folks are under the impression they have 10's of thousands $$$$$ in equity.
4) Many folks are under the impression if Rivian raises prices, they just earned more equity.

Today, a friend of mine with just over 5000 miles on his pristine R1T just received an offer from Driveway for $77,500.

I promised myself I wouldn't hurt anyone feelings here again. So, I'll let you draw your own conclusions to this fact.

Might want to check your trade-in value if you're in the boat of #3 or #4 above.

I wonder what the truck is worth with 40,000 or 50,000 miles, 24-months down the road? Serious question... From a sheer investment standpoint any ICE truck might drop a few %, but wowza, offers for $80k for a near brand new "$100k truck".

Before you say I don't care, I'll break even... Think about the guys who are spending $100k. If they don't keep lining up, Rivian fails.

PS- I for one and hoping this "Driveway" company lowballed the he** out of my buddy... Could seem fair for the "early price" folks on paper, but not with the "actual price" folks.

Also, I'm personally in the "I don't care about value" camp, because if I buy it I'm keeping it. However, some of the comments around here about equity are so far out in left field that it's better than reading an epic science fantasy book.

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[jjswan33]

Driveway is not the authority in resale value. If I were to guess a used truck with 4K miles would be between $85-90k on the resale market depending on options.

 

[kurtlikevonnegut]

Make your own judgment here, but I'll share a couple facts...

1) Many folks keep saying "an $80k truck".
2) To buy a fully loaded truck today is closer to $100k.
3) Many folks are under the impression they have 10's of thousands $$$$$ in equity.
4) Many folks are under the impression if Rivian raises prices, they just earned more equity.

Today, a friend of mine with just over 5000 miles on his pristine R1T just received an offer from Driveway for $77,500.

I promised myself I wouldn't hurt anyone feelings here again. So, I'll let you draw your own conclusions to this fact.

Might want to check your trade-in value if you're in the boat of #3 or #4 above.

I wonder what the truck is worth with 40,000 or 50,000 miles, 24-months down the road? Serious question... From a sheer investment standpoint any ICE truck might drop a few %, but wowza, offers for $80k for a near brand new "$100k truck".

Before you say I don't care, I'll break even... Think about the guys who are spending $100k. If they don't keep lining up, Rivian fails.

Why anyone would go to a service like Driveway to sell a Rivian is beyond me. Driveway offered him that so that they can turn a profit off it. I'd be very surprised if any P2P or auction sites had a Rivian selling for less than $100k right now

 

[formula22]

Driveway needs to make money so of course they won’t give top dollar. If you search used “retail” R1T prices (not trade in) online you won’t fund anything under 100k

 

[Rad]

Driveway offered a wholesale price. Retail would be higher.

 

[R1Tom]

File this one in the absurd area of the forums, please.

 

[Gsxr150]

Why anyone would go to a service like Driveway to sell a Rivian is beyond me. Driveway offered him that so that they can turn a profit off it. I'd be very surprised if any P2P or auction sites had a Rivian selling for less than $100k right now

Yeah...I was shocked. I don't know much about that company.

 

[Gsxr150]

File this one in the absurd area of the forums, please.

Why because you don't like what someone received as a trade-value? You can't keep hiding your head in the sand when you read something you don't like, my friend. This is a fact...not sunshine and rainbows, I'm sorry.

 

[Gsxr150]

Driveway is not the authority in resale value. If I were to guess a used truck with 4K miles would be between $85-90k on the resale market depending on options.

I'm wondering if anyone else in the camp of #3 or #4 has checked their trade-in values with a Carvana type company.

 

[Diddy123]

I was giving you the benefit of the doubt on your previous posts, thinking you were genuinely debating whether an early model was the right choice for you.

But this clearly shows that you really are just trolling. Officially just made my very short ignore list.

 

[R1Tom]

I stand by what I said....this analysis and argument is absurd.

 

[CharonPDX]

*ANY* of the companies that buy vehicles will lowball. Even pricing companies like Kelly Blue Book differentiate trade-in value from retail/private-sale purchase price.

Of *COURSE* the price is going to be significantly lower from one of those services. Then Driveway turns around and turns around and sells it for $110,000.

This is true of *ANY* vehicle. Trade-in value will *always* be lower than if you sell it yourself privately.

And other than the current ridiculous used car market and extremely limited production collectors vehicles, cars have never been considered "an investment." It's been an industry joke for decades that a car loses 25% of its value the instant you drive it off the lot.

 

[R1Tom]

I was giving you the benefit of the doubt on your previous posts, thinking you were genuinely debating whether an early model was the right choice for you.

But this clearly shows that you really are just trolling. Officially just made my very short ignore list.

I am adding to my short list too.

 

[TheIglu]

I officially offer him $5 for his Rivian R1T.

Now you can say our trucks have lost nearly ALL their value.

Besides, who buys a vehicle they drive as an investment? It's a depreciating asset....

 

[Gsxr150]

I was giving you the benefit of the doubt on your previous posts, thinking you were genuinely debating whether an early model was the right choice for you.

But this clearly shows that you really are just trolling. Officially just made my very short ignore list.

I'm sharing a fact. A fact you don't like so want to name call and pick on me. Shameful.

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