Canceling? What to do?

[kizamybute']

Correct, during a July/August road trip. People left business cards asking to contact them, it was truly bizarre. I sold the Lightning in August as well right before prices plummeted ?

R1S is still fetching steep prices though! But the crux is $35k profit wasn't enough for me to give it up.

Exact same boat. Both of mine were right under $90K out the door. I listed both at the same time. Had offers at $125 for the Rivian. Struggled like heck to get $110 out of the Ford. And I was the FIRST one to sell a "pre-owned" Lightning, at least in any of the public forums/auctions. Just about all the rest sold for lower prices. The Ford crowd was quite different from the Rivian crowd. Despite the $15,000 higher profit margin available, I chose to sell the Ford and keep the Rivian. Figure the same will be true when it comes time to sell. Resale value will likely remain higher on the Rivian than the Ford. So, gave it up early, but will likely get most of it back whenever the time to sell does come.

The dealer was kind of pissed off at me for selling it. I got the first truck they got in and they made such a big deal out of it with social media. Kind of felt bad, but what could I do. I played along, then went home and listed it an hour later!

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[Rivian635]

Exact same boat. Both of mine were right under $90K out the door. I listed both at the same time. Had offers at $125 for the Rivian. Struggled like heck to get $110 out of the Ford. And I was the FIRST one to sell a "pre-owned" Lightning, at least in any of the public forums/auctions. Just about all the rest sold for lower prices. The Ford crowd was quite different from the Rivian crowd. Despite the $15,000 higher profit margin available, I chose to sell the Ford and keep the Rivian. Figure the same will be true when it comes time to sell. Resale value will likely remain higher on the Rivian than the Ford. So, gave it up early, but will likely get most of it back whenever the time to sell does come.

The dealer was kind of pissed off at me for selling it. I got the first truck they got in and they made such a big deal out of it with social media. Kind of felt bad, but what could I do. I played along, then went home and listed it an hour later!

I would not feel too bad for the dealers - they have been all too happy to gouge customers (at least local where I live) with egregious dealer markup or forced add-ons. I hope I have bought my last vehicle through a dealer. I certainly support a company trying to make money - but a direct-to-consumer model seems better when the vast majority of car buyers have stated working with dealers is something they very much dislike.

Curious, when you say the Rivian crowd was very different vs Ford crowd - in what way?

 

[kizamybute']

I would not feel too bad for the dealers - they have been all too happy to gouge customers (at least local where I live) with egregious dealer markup or forced add-ons. I hope I have bought my last vehicle through a dealer. I certainly support a company trying to make money - but a direct-to-consumer model seems better when the vast majority of car buyers have stated working with dealers is something they very much dislike.

Curious, when you say the Rivian crowd was very different vs Ford crowd - in what way?

Rivian buyers understood purchasing at market value and made offers accordingly. All the Ford buyers treated me like I was the dealer, more concerned about offering X amount over invoice cost or not paying more than MSRP.

I had to educate them that I wasn't a dealer and this is not your typical Ford F-150 transaction. If you want a Lightning at MSRP, go place an order with Ford and you'll get one in two years. If you want one now, there's a premium to pay to skip the line. The Rivian crowd got it and understood how to play the game, as does the Tesla crowd. The Ford crowd had no clue of the new environment we're in when it comes to purchasing EV's that have to be pre-ordered. I've sold several Tesla's. Never heard from the buyers again. The guy that bought the Ford wore me out for months afterwards! They're used to the dealer experience where Tesla and Rivian buyers/owners have gotten used to not having to deal with "dealers". When I bought the Ford, I certainly realized I hadn't missed that dealer experience over the past 9 years.

 

[Rivian635]

Rivian buyers understood purchasing at market value and made offers accordingly. All the Ford buyers treated me like I was the dealer, more concerned about offering X amount over invoice cost or not paying more than MSRP.

I had to educate them that I wasn't a dealer and this is not your typical Ford F-150 transaction. If you want a Lightning at MSRP, go place an order with Ford and you'll get one in two years. If you want one now, there's a premium to pay to skip the line. The Rivian crowd got it and understood how to play the game, as does the Tesla crowd. The Ford crowd had no clue of the new environment we're in when it comes to purchasing EV's that have to be pre-ordered. I've sold several Tesla's. Never heard from the buyers again. The guy that bought the Ford wore me out for months afterwards! They're used to the dealer experience where Tesla and Rivian buyers/owners have gotten used to not having to deal with "dealers". When I bought the Ford, I certainly realized I hadn't missed that dealer experience over the past 9 years.

Sure sounds like you 'earned' any premium you received from reselling the Ford...

 

[kizamybute']

Sure sounds like you 'earned' any premium you received from reselling the Ford...

It was a challenge. Fell a few hundred dollars short of the reserve in the first auction. Had to relist it. Offered it to buyers that had bid just shy of the reserve at the prices they bid at just hours before, yet they then wanted to negotiate more. With the issues I had selling it, I was really thankful that I made the decision to keep the Rivian and unload the Ford when I could. As far as I've seen, being that mine was the first pre-owned one offered, it sold higher than any of the following trucks sold for and the prices have continued to drop. They've dropped to levels where you'd be fortunate to just get your investment out of it. The Rivian, could have sold in a couple of days to any number of buyers for $15,000 more profit. Once Ford announces the all new EV truck designed from the ground up to be an EV, the existing Lightnings will be antique's and their values will plummet even further. Don't see that happening with the Rivian any time soon. If Tesla is any indication, being a new company, I doubt the Rivian will receive any major design revisions in the next 8-10 years, so our existing trucks will still be current for years to come, which will allow them to hold their value better in the long run. With the jacked up pricing for the Silverado and GMC trucks, can't imagine they'll do much better. They'll likely do better than the Ford on resale value because they are ground up new designs, but I don't think they'll do any better than the Rivian will. So, I think I'll recapture any loss in profit whenever the time comes to sell it in a few years.

 

[Rivian635]

It was a challenge. Fell a few hundred dollars short of the reserve in the first auction. Had to relist it. Offered it to buyers that had bid just shy of the reserve at the prices they bid at just hours before, yet they then wanted to negotiate more. With the issues I had selling it, I was really thankful that I made the decision to keep the Rivian and unload the Ford when I could. As far as I've seen, being that mine was the first pre-owned one offered, it sold higher than any of the following trucks sold for and the prices have continued to drop. They've dropped to levels where you'd be fortunate to just get your investment out of it. The Rivian, could have sold in a couple of days to any number of buyers for $15,000 more profit. Once Ford announces the all new EV truck designed from the ground up to be an EV, the existing Lightnings will be antique's and their values will plummet even further. Don't see that happening with the Rivian any time soon. If Tesla is any indication, being a new company, I doubt the Rivian will receive any major design revisions in the next 8-10 years, so our existing trucks will still be current for years to come, which will allow them to hold their value better in the long run. With the jacked up pricing for the Silverado and GMC trucks, can't imagine they'll do much better. They'll likely do better than the Ford on resale value because they are ground up new designs, but I don't think they'll do any better than the Rivian will. So, I think I'll recapture any loss in profit whenever the time comes to sell it in a few years.

...and looking at the Cars&Bid / BaT sites this week... really no premium for R vehicles vs current pricing w taxes, etc.. I really think the price cuts of Tesla took the wind out of the sails of many Ev's - event Rivians that dont directly compete (yet). Example: BMW iX50 with a few options is $98k vs Model Y at 55k... (then add tax credit for those eligible) who the heck will buy the BMW?

 

[Dave711]

Well I guess I’m canceling. I put my deposit on the truck in December of 2018. I really wanted a rivian but…. I finally was able to see a R1S today and drive it and honestly I wasn’t very impressed. I guess I’m just old and I don’t want to go full electric. I currently have an outlander PHEV so half/half is about as far electric as I want to go. If I could get a half/half with about 100 miles in range and it still have interior like a regular truck or suv well that’s my dream.
I don’t really know what else to do other than just get my deposit back. Seems like a waste with the discounted price but what other options are there? I can still configure whatever I want but this is my current configuration. The delivery estimate currently says June.

thoughts or comments?

I'm no spring chicken either. I test drove a Tesla and it made me sick. I may have to drive the R1S in snow mode on low regen but I am going to take delivery. You can always try it and if you don't like it, sell it.

 

[SweetJesus]

Ok… except there are several people here that have successfully driven their R1s to Big Bear. Have you tried checking your route on ABRP and plotting out how you would make the trip? Also, if it was simply the location you were worried about and not the weather, wouldn’t the same thing apply in all seasons, not just winter? It seems like you are looking for odd reasons to not buy it. So don’t do it and I’m sure one of the thousands of people in line behind you will happily take your place.

I’m saying when it’s snowing. Or if your up there when it is. I have a cabin up there.

 

[COdogman]

I’m saying when it’s snowing. Or if your up there when it is. I have a cabin up there.

Ok. And there are clearly charging options up there. I guess I’m confused. Didn’t you check on any of this before ordering or since ordering? It took me 30 seconds to find that map.

 

[clcbjc123]

I'm with you. I know its Rivian and EV patriots here but I have moments of pause. I keep thinking

1) Can Rivian weather a recession? Will Rivian end up like the stock, going down?
2) Battery tech isn't BIC - when will they change to LPF?
3) Will they remove options over the course of the next year to lower the cost? Will they push it out even longer?
4) Styling isn't as fresh as it was when released.
5) If buying a car is this hard, what will service be like when they achieve higher production numbers?
6) How many more people like me may sell day 1? I see a lot for sale right now. What is the true demand for Rivian 2-3 years out? See #1.

I'm not saying I'm going to get rid of my slot, that would be stupid. I can sell day 1 and make a small profit. But with so many unknowns, is Rivian the first EV brand I should buy. Should I even hassle with an EV? Urban enviroment, CA, I get it.

I talk to my car buddies and they say, no, so over Rivian, it was cool. They all owned Tesla S's and are back in ICE, said it wasn't worth the hassle.
My eco friends say, stay the course, its cool and EV's are the future. They at one point have all purchased eco cars (Priuses) so cool is relative.

IDK. I guess I have an extra 6 months to think about it and see what happens to Rivian but I hear you, the choice to buy should have been easier. And if I was a betting man, I'd guess that my wife will be in a X7 M60i sooner over later.

 

[SweetJesus]

Ok. And there are clearly charging options up there. I guess I’m confused. Didn’t you check on any of this before ordering or since ordering? It took me 30 seconds to find that map.

Not where my place is

 

[COdogman]

Not where my place is

You can expand the map. If you are near Big Bear (as you said) there is charging. But this might be too much for you. I encourage you to cancel and let someone who is willing to take 30 seconds to use Plugshare take your spot in line. If you take this truck you are going to be online everywhere complaining that Rivian didn’t wipe your ass for you.

 

[SweetJesus]

You can expand the map. If you are near Big Bear (as you said) there is charging. But this might be too much for you. I encourage you to cancel and let someone who is willing to take 30 seconds to use Plugshare take your spot in line. If you take this truck you are going to be online everywhere complaining that Rivian didn’t wipe your ass for you.

sorry you got butt hurt about my comments.

 

[COdogman]

sorry you got butt hurt about my comments.

You don't even make enough sense to cause anyone to be butt hurt.

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