Rivian R1T Leasing Now Available

[Ngkgb]

Sure

12k per year X 3 years 36k.
MSRP OTD $90k
Residual not shared My guess (60-65%)
MF also not shared
Payment $900
Down $3k
Due at signing $6k including down

Completed the lease section in 5 min including due at signing amt.

MSRP is different than the selling price. Are you aware if they are offering discounts besides the 7500 tax credit?

Sponsored

 

[Thedude]

This is literally the same pricing as a BMW iX to a T. Same money down, same miles, same everything.

This was similar to the Tesla process if I remember correctly the complete details are available at pickup.

It’s not the monthly payment, it’s the entering into a lease agreement and not being provided the information prior to that. Not knowing or being provided the residual or the money factor is a huge problem.

 

[DuoRivians]

MSRP is different than the selling price. Are you aware if they are offering discounts besides the 7500 tax credit?

There are no discounts offered by Rivian. Except perhaps the free wall charger + $2k installation credit, and the pre-price hike people. But msrp is the price all vehicles are sold at.

 

[Eric9610]

MSRP is different than the selling price. Are you aware if they are offering discounts besides the 7500 tax credit?

No other discount I can see.

It’s not the monthly payment, it’s the entering into a lease agreement and not being provided the information prior to that. Not knowing or being provided the residual or the money factor is a huge problem.

It really does not matter if the OTD price is $90k unless you plan to buy at end. I don't plan on that so for me from a cost per $ bases its a deal. I eventually plan to get a R1S.

 

[Eric9610]

Congratulations!

I think folks here smarter than me can run some numbers and reverse engineer this.

Do you mind sharing your exact build? From that we can determine the price plus destination and acquisition fee.

Based on what you wrote the cap cost reduction is $3000 down + $7500 = $10,500, so subtract $10,500 from the build price.

$900/month for 12K per year x 36 = $32,400

That gives us a sense of the residual. I’m guessing money factor is in line with current loan rates so maybe 6% APR?

Just gotta do the math on whatever the actual money factor is over the course of the lease term depreciation to see if it covers the $7500 IRA credit cap cost reduction - and determine if this makes sense for those interested in purchasing via full cash or financed purchase at current loan rates. Lots of moving parts.

It’s good to have options and take advantage of the $7500, but a high money factor can potentially offset the $7500. That doesn’t seem to be the case here, but a full breakdown would be nice. Would like to review the early lease buyout terms as well.

For someone who typically purchases rather than leases, a low mileage, short term lease + ASAP buyout to minimize interest payments and get the $7500 would seemingly make sense.

For those who typically get new vehicles every 3-4 years, I’m guessing the $7500 IRA credit will make a lot of sense for a straight up lease.

i also think R1S leasing will be a gangbuster for Rivian if this $7500 IRA loophole remains intact.

If an R1T would fit in my garage in Kona, I’d lease another one right now, have it delivered to Phoenix, AZ then ship it to Kona.

Again, good to have options.

So here is the car configuration:
R1T AP: $73K
QM: $8K
LP: $6K
EC: Limestone $1.75k
Sub total: $88,750
Total Price OTD: $90,773

 

[R1TS]

Wonder what the resuduals are that Rivian is calculating.

You can get a very low mileage (under 10k) used R1T quad these days for nearly $70K now.

 

[Tr4ckD4ys]

So basically I should feel ripped off by the federal government. Because I purchased mine but had I leased it and then purchased it out of the lease, I would have got $7.5k discount.

 

[Nsblifer]

I don’t know a whole lot about leasing but honestly, if I didn’t have pre price hike prices I’d seriously consider this. I feel like a majority of folks here would unless planning on beating it up on a rock field. This is a fast changing tech, new model/trim/drivetrain/upgrade in battery chemistry comes out every couple of years, relatively fast depreciation, fairly large potential of very expensive repairs outside of warranty. The thought of rolling over to a new R1/R2/R3/and so on under warranty every few years sounds good at face value to me. Could be wrong.

 

[Eric9610]

Honestly I lease EV's because the tech changes so fast and currently the only way to get the credit. I have a feeling the residual is like 65% +

 

[Mickey]

30K/36mo. is not unheard of but, is a lower mileage allowance.

Right... That's only 10,000 miles per year allowed. Beware that if you average 15k miles per year then the excess mileage penalty is $1,500 per year (@.30/mile), or $4,500 at the end of the lease. Depending upon the terms of the lease, you might be permitted to purchase before the end of the lease and avoid the excess mileage penalty... and possibly any minor damage penalties. Anyone considering a lease should check into this.

 

[NY_Rob]

It’s not the monthly payment, it’s the entering into a lease agreement and not being provided the information prior to that. Not knowing or being provided the residual or the money factor is a huge problem.

This.. as many people are very interested in purchasing the vehicle at the lease end.

A friend texted me last night as he needs to lease a new SUV now. He specifically asked if anyone knew the MF and residual on the R1S yet as he purchased his last two leased vehicles.

 

[Prime]

Based on this vehicle and assuming a 7% interest rate, it comes out to ~65% residual value. Not bad

This is not bad at all! My mom just leased a 2024 GLC 350 loaded up but much cheaper MSRP for $860 a month. A $100k truck for $100 more? Wow

 

[R1Thor]

I’m sure they correlate well with their service center locations.

You'd *think*, right?

Pennsylvania has 0 service centers within the state, and depending on where you live in PA, there aren't even any conveniently *planned* service centers. This is mostly PAs fault due to their draconian dealership laws, as I understand it, but...

It *is* a headscratcher we'd be among the first states to be offered a lease given the extreme inconvenience for servicing our vehicles.

 

[jjswan33]

30K/36mo. is not unheard of but, is a lower mileage allowance.

Right... That's only 10,000 miles per year allowed. Beware that if you average 15k miles per year then the excess mileage penalty is $1,500 per year (@.30/mile), or $4,500 at the end of the lease. Depending upon the terms of the lease, you might be permitted to purchase before the end of the lease and avoid the excess mileage penalty... and possibly any minor damage penalties. Anyone considering a lease should check into this.

To be fair almost all lease offers I see are for 10k miles so they can advertise the lowest rate.

To do a quick experiment with their calculator:

Specific build I looked at was $790/mo for a 10k/year lease
$812 for 12k/year lease comes out to $0.13/mile for the extra or $264/year
$834 for a 15k/year lease comes out to $0.106/mile for the extra or $528/year

So if you think you need more than 10k a year it would be very advantageous to lock in your higher mileage ahead of time.

While in my case I have 48k miles on my R1T after 20 months of ownership... so a lease might not be a great option at least as an only car.

 

[defcon888]

I've never leased a vehicle in the past so I have no idea if these are good terms or not. Seems pretty standard for a vehicle at that price??‍

I have and depending on your financial situation it can be a good thing or a bad thing.

Basically, you are renting the vehicle for a set amount of time. After the lease is over you have 1 of 2 options.....turn it in and pay whatever costs (over mileage) or purchase it.

With leasing, you won't get the tax credit (which I know Rivian is above the $80k threshold).

The difference between the $750/month and what we are paying is about $200 and we are buying ours.

Sponsored