Status change to lurker

[SANZC02]

Seems like a complete misunderstanding of the whole deal. The vehicle in this thread was 88.8k, the 559 deal was a vehicle for 71.7k and even that deal required 7454 down plus tax and registration fees. If OP was OK with the 850 payment sounds like they should have just ponied up the extra 10k since over 3 years the 850 payment over a 550 payment would be 10.8k. Honestly the deal they are walking away from seems better than the advertised deal.

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"Very well qualified lessees who take delivery on or before 4/30/2024 can lease a new MY2024 Rivian R1T Standard Adventure Package for 36 months with 30,000 total miles for $559 per month. To obtain a payment of $559 per month, vehicle pricing before dealer options must total $71,700 comprised of the following vehicle selections: Dual Motor AWD, 21” wheels, LA Silver paint, Black Mountain interior ($69,900) + destination fee ($1,800).

$7,454 DUE AT SIGNING. Cash due at signing includes $6,000 capitalized cost reduction (includes $1,000 deposit), $559 first monthly payment, $895 acquisition fee, and $0 security deposit. Tax, title, license, registration, and lessor documentation fees are additional fees due at signing. Not all customers will qualify for security deposit waiver. Offer includes upfront capitalized cost reduction of $7,500 provided by the lessor. Vehicle availability is limited, and lease offer is contingent on vehicle availability. End of lease charges include: excess vehicle wear, 30 cents per mile for excess mileage, and $495 disposition fee. Lease offer is only available in the following states: AL, AZ, CA, CO, FL, GA, IL, MA, MI, MO, MS, MT, NC, ND, NE, NJ, NY, NV, OH, OR, PA, SD, TN, TX, VT, WA. All offers are subject to credit approval, vehicle availability, priority for delivery, and are subject to change at any time."

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[Electrified Outdoors]

Depending on the value of your trade the 7% TN sales tax could also come into play. Sales tax on a straight purchase would be about $6,100 but could be reduced by the value of your trade in.

Not sure how TN handles sales tax on leases. Some states charge sales tax on the use (monthly) and some charge sales tax on the full purchase price up front. The ladder is what they do for leases here in the old line state.

Without seeing the full purchase/lease agreement we can only speculate on what might have happened.

 

[Gen(R3)Xer]

Yeah, I kind of thought that after posting.

i has 4 different VINs in my short time of trying to purchase a truck. The next to last one never left CA after a week of telling me it would be here “soon”.

i pivoted to a lease of a 2023. Everything was going along fine and got to the payment due at signing. The financial email had one payment and when I went to make the payment it was $10,000 higher.

i said either take it off or I will cancel. I cancelled.

Sorry to waste everyone’s time.

This sucks. Is this what you had to put down to get the lease deal? Hopefully later in the summer after the new efficiencies have been implemented you can try again.

 

[beyondgravity]

I think OP maybe misleading us here. I apologize for plain spoken here or there was a miscommunication that he assumed there is no trade-in for lease; but Rivian system showed that he is trading-in based on what he had chosen.

why would a company just surprise a potential buyer with random 10k down payment? If they did with every customer their lease business is dead after single digits.

Unless OP gives an end to end story and build a case on surprise $10k, I am going to give the benefit of the doubt to Rivian that they did the right thing.

 

[Billyt1963]

I think OP maybe misleading us here. I apologize for plain spoken here or there was a miscommunication that he assumed there is no trade-in for lease; but Rivian system showed that he is trading-in based on what he had chosen.

why would a company just surprise a potential buyer with random 10k down payment? If they did with every customer their lease business is dead after single digits.

Unless OP gives an end to end story and build a case on surprise $10k, I am going to give the benefit of the doubt to Rivian that they did the right thing.

My guide asked if I wanted to use my original truck for the trade in to offset, but my truck was valued at $26,000+ and I didn’t wanted to do that. At the payment screen there is an informational “i” next to the amount to pay. Even that showed the lower amount.

i wish i had taken screen shots. A majority of folks thing I screwed up and not Rivian. We all know how bad they are at communications, and I think this is one more example.

 

[beyondgravity]

I may be seeing with my colored glasses, as Rivian has been awesome and I am actually in love with my R1S; my wife thinks. It just maybe ;-) There are always alternate views. So maybe Rivian did screw up or the guide or there are lot of variables.

It is easy to post something on these online forums and feel virtuous like we all feel time to time. (online communication is still so new, whereas in person we decipher with body language and tone etc)

I do feel, based on these posts, you really miss R1. I hope you get an opportunity to get one of these; maybe actually a better one than what all of us currently have, after the retooling. Do talk to your guide, they have every incentive to get you in on one and we all try to do the best thing. So they might do it right, next time.

If you have soured on Rivian that is fine too and I hope they get the opportunity to make it right for you or you have options nowadays I think

 

[virgnia_rivian]

Everything I have read about leasing is to put down as little as possible, in many threads I read on this site. Since the $10k was a total surprise and changing everything I had read about my terms, that was my biggest problem. If Rivian and put it back into the monthly fee, I would have been fine.

You are correct here regarding leases. When leasing the goal should be as small of a capital reduction cost as possible. This will push the monthly payment up, but you’re less out of pocket at lease start. It’s not like a straight purchase where there’s more of a benefit to putting more money down up front. I’ve leased and bought many vehicles. There are pros to leases in some circumstances. They are not always the best option when a purchase at the end of the lease is the goal, but it depends on the terms.

It sounds like there was an honest error or Rivian’s online system didn’t update when your transaction went from a purchase to a trade. They likely fixed this before it made it to the acceptance stage. Car dealers can make similar errors. I once leased a Range Rover at a crazy low rate because the sales manager didn’t realize he entered something incorrectly into their computer and it made the terms crazy favorable. It wasn’t discovered until we were signing in the finance office and the finance manager saw the error.

 

[Billyt1963]

I may be seeing with my colored glasses, as Rivian has been awesome and I am actually in love with my R1S; my wife thinks. It just maybe ;-) There are always alternate views. So maybe Rivian did screw up or the guide or there are lot of variables.

It is easy to post something on these online forums and feel virtuous like we all feel time to time. (online communication is still so new, whereas in person we decipher with body language and tone etc)

I do feel, based on these posts, you really miss R1. I hope you get an opportunity to get one of these; maybe actually a better one than what all of us currently have, after the retooling. Do talk to your guide, they have every incentive to get you in on one and we all try to do the best thing. So they might do it right, next time.

If you have soured on Rivian that is fine too and I hope they get the opportunity to make it right for you or you have options nowadays I think

I would still like to own a Rivian, but after this experience it will take a bit before i jump into the pool again.

i really think we need to move away from ICE vehicles, just not sure what is next.

 

[Count Orlok]

The flight to Boise leaves from Gate B101

 

[Engi_Nerd]

Honestly, the way Rivian is currently selling vehicles is among the worst in the industry. Requiring a deposit to see lease terms, having to work through a single "guide" who half the time ignores you or knows nothing, showing inventory as available to the customer when it is actually not, and having no way to account for taxes or the ridiculous delivery fee in the lease calculator. These things do not align with the "friendly" image the brand is trying hard to present, and I'm sure this is why many owners are quick to shift blame to customers. Tesla may be a generally terrible company to deal with but they are currently providing customers with highly accurate lease and vehicle payment estimates on their website, with no such hurdles or tricks.

 

[virgnia_rivian]

Honestly, the way Rivian is currently selling vehicles is among the worst in the industry. Requiring a deposit to see lease terms, having to work through a single "guide" who half the time ignores you or knows nothing, showing inventory as available to the customer when it is actually not, and having no way to account for taxes or the ridiculous delivery fee in the lease calculator. These things do not align with the "friendly" image the brand is trying hard to present, and I'm sure this is why many owners are quick to shift blame to customers. Tesla may be a generally terrible company to deal with but they are currently providing customers with highly accurate lease and vehicle payment estimates on their website, with no such hurdles or tricks.

Spoken like a true Tesla owner. Rivian was super easy to purchase with and their lease terms are pretty clear. It’s no different than going to a dealer.

 

[Supratachophobia]

I think OP maybe misleading us here. I apologize for plain spoken here or there was a miscommunication that he assumed there is no trade-in for lease; but Rivian system showed that he is trading-in based on what he had chosen.

why would a company just surprise a potential buyer with random 10k down payment? If they did with every customer their lease business is dead after single digits.

Unless OP gives an end to end story and build a case on surprise $10k, I am going to give the benefit of the doubt to Rivian that they did the right thing.

This is what I didn't get. People out there thinking this company can just steal an extra 10k every couple of customers; either by accident or on purpose. That's not how business finances work. Your debits and credits have to equal out. You can't just pocket extra money say, "oh well, I get to keep it!".

And if you automatically assume that about companies, I wonder what that says about projection and how **we** would react to an overpayment to ourselves.....

 

[Jeep Addict]

Spoken like a true Tesla owner. Rivian was super easy to purchase with and their lease terms are pretty clear. It’s no different than going to a dealer.

Disagree. My experience was not "super easy", though yours may have been. It was a lot different than going to a dealer. The OP was surprised at signing by an amount that was $10k higher than anticipated. At a dealer, there's a finance department that is motivated to workout a deal, especially when there's a "surprise".

The whole online purchase and "guide" experience is for Rivian's benefit, not the purchaser's. So far the R1S has been a solid vehicle, but my experience with the purchase has not been nearly as good as previous experiences at any brick & mortar car dealers I've purchased from, especially luxury/high end dealers.

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