New vs pre-owned- decisions!

[Ilovejunebugs]

I've been a fan of Rivian and wanted one, but they were out of my price range- until recently. (my top limit currently is 75k, all in- taxes, etc). Now that used ones have begun to show up at dealers, and with Rivian introducing lower price points, I am on the hunt. My current car is an EV with about 220 miles of range so I don't need a lot (no max pack necessary for me ) thus I think the standard pack would be enough for me, with the 21" wheels. I'm trying to decide if it makes more sense buying a used one (22, launch edition, QM, 7-15k miles, priced 64k-69k) or new? Has anyone purchased a pre-owned and how has that been? Is the pre-owned a better overall value long term?

Sponsored

 

[COdogman]

I think buying used is a great option. If my R1T was totaled that is the route I would go.

Understandably some of the earlier models had more issues than the more recent builds. So I would look for a late year 2022 or even a 2023 if you are worried about any of those early adopter issues. Either way you would get the remainder of the warranty so Rivian would take good care of you if necessary.

 

[Forest Edge]

I have a QM R1T that I picked up in December last year. If I was doing it again, I'd lease a DM. I looked today and there are standard pack leases quoted for as low as $599/mo. That'll change a bit with taxes, fees, mileage, down payment, etc, but it's a damn good deal! Plus then you don't take a hit to residual value if there are significant changes to EV or battery tech over the next 3 years. That's a lot of truck and tech for $599/mo!!

 

[Ilovejunebugs]

I have a QM R1T that I picked up in December last year. If I was doing it again, I'd lease a DM. I looked today and there are standard pack leases quoted for as low as $599/mo. That'll change a bit with taxes, fees, mileage, down payment, etc, but it's a damn good deal! Plus then you don't take a hit to residual value if there are significant changes to EV or battery tech over the next 3 years. That's a lot of truck and tech for $599/mo!!

True, but no leasing for Wisconsin yet.

 

[dleepnw]

Standard and Standard+ battery sizes just got released so not likely to see many used options for that. if you want to buy short term, you'll have to get Large or Max pack.

 

[mkg3]

Early VINs had quality issues, more than the current.

If you buy used, just make sure that many if early VIN issues are resolved and taken care of.

If newer VIN, you really have to ask why because the flip premium is long gone and one is lucky to break even, after sales tax and registration. Pre-March price hike with tax credit binding contract holder may flip just for the tax credit but depending on which state one is in, it makes no sense.

 

[R1Tom]

I have am early vin from May '22. 3xxx. Mine has been almost perfect. Based on things I have seen on forums, I think sometime after my early build, during the ramp up, QC may have taken a hit. But really early trucks almost seem hand built. I think you just have to check it out closely. I would personally look for a private seller that I could trust. Dealer and wholesale units could be people who did have many issues dumping them.

 

[Ilovejunebugs]

Early VINs had quality issues, more than the current.

If you buy used, just make sure that many if early VIN issues are resolved and taken care of.

If newer VIN, you really have to ask why because the flip premium is long gone and one is lucky to break even, after sales tax and registration. Pre-March price hike with tax credit binding contract holder may flip just for the tax credit but depending on which state one is in, it makes no sense.

Is there a way to check if a particular vin number has unresolved issues?

 

[Ilovejunebugs]

I have am early vin from May '22. 3xxx. Mine has been almost perfect. Based on things I have seen on forums, I think sometime after my early build, during the ramp up, QC may have taken a hit. But really early trucks almost seem hand built. I think you just have to check it out closely. I would personally look for a private seller that I could trust. Dealer and wholesale units could be people who did have many issues dumping them.

Good point, thank you.

 

[R1Tom]

Good point, thank you.

Normally I wouldn't worry much about a vehicle with warranty, as one should be able to get things all ironed out with service, but with the state of service, at least in some locations, getting things addressed can be challenging.

 

[Golfer04]

Good point, thank you.

Rivian sells to auction houses all the time. That's where dealers are getting most of them (but not all). They can be loaners or VINs that didn't initially meet the QC cut. Got fixed and sent to auction. I'm considering trading mine and I'm looking used with a VIN above 15,000. I've had 9 loaners and that VIN seems to be the magic number on when quality improved; at least that is my observation.

 

[DeanB1452]

I purchased my pre-owned, very early VIN (00004x) in May '23 and have no regrets about it. I have already put 13K miles on it driving up to Mt. St. Helens, down to Disneyland, Yosemite, and Lake Tahoe. It came with a working powered tonneau cover, but it just got replaced with the new one last month. There was a recall on the accelerator pedal and they replaced that at the same time. Some of the perks of the early model is that it has the 12v plug in the frunk and under the dashboard. Warranty transfers over to new owner. I have had a few items that had to go in under warranty repair, but they take care of it. '22 Launch Edition R1T, Launch Green, Large Battery, Quad Motor, 20" AT wheels. I believe the original owner took delivery in December, 2021.

 

[Electrified Outdoors]

This is a great question! This all depends on what you want out of the transaction. I think either way you would be happy.

Buying used has many benefits. The one big benefit is the cost savings over the new one and you will get a quad motor with the full 835 horsepower and 908 pound feet of torque. If it has less than 15,000 mi, you still have 160,000 mi of battery and electric drive component warranty left. Another benefit is that it's already taking a lot of its depreciation and should depreciate slower during the course of your ownership. There are of course risks of buying used but even so with less than 60,000 miles You're still in the new car bumper to bumper warranty. If you get a 2022 you would likely be out of the adjustment warranty though which is one year and 12,000 mi. That covers things like alignment panel gaps and the fit and finish stuff.

On the other hand, buying new has some benefits as well. You're getting a brand new vehicle, a clean slate and you will be the only person that's ever owned it. If you're financing, you will get a lower rate due to it being a new title finance versus a used title finance.

If you do buy used I would try to avoid early VIN vehicles. A lot of the early vans had a welded subframe and those were known to fail and need sub frame replacement. Later models have a cast subframe.

 

[rohitgarewal]

I've been a fan of Rivian and wanted one, but they were out of my price range- until recently. (my top limit currently is 75k, all in- taxes, etc). Now that used ones have begun to show up at dealers, and with Rivian introducing lower price points, I am on the hunt. My current car is an EV with about 220 miles of range so I don't need a lot (no max pack necessary for me ) thus I think the standard pack would be enough for me, with the 21" wheels. I'm trying to decide if it makes more sense buying a used one (22, launch edition, QM, 7-15k miles, priced 64k-69k) or new? Has anyone purchased a pre-owned and how has that been? Is the pre-owned a better overall value long term?

Mines for sale in the forums. No rush to sell, 63K quad motor with 20k miles. Never given me any issues.

New vs used? Depends on what you're looking for. If quad motor and larger batter matter, buy used. Otherwise lease a new one.

I wouldn't buy one unless you plan to keep for a long time.

I bought mine, but that's because I got pre price increase and the 7500 tax credit.

As a rule of thumb, I lease depreciating assets, and buy appreciating ones.

 

[carsly]

Sounds like for your use cases you'd be well-served getting a new dual-motor standard pack with a full new-car warranty. At least then you know the entire history of the vehicle and, if applicable, you can take advantage of any Federal and/or state-level tax incentives.

Sponsored