Rivian Trade In Estimator Launched

[jpadz41]

True. I sold a 6 year old Wrangler in late '21 for the same price (within $7) of the original out-the-door price (tax, license, etc.). We need to reset our expectations a bit.

my R1S replaced a '03 Lexus RX300. i paid $8500 for the lexus in nov 2017. it sold for $8700 in aug 2023. considering the $200 profit, i paid about $3000 for six years of ownership.

now i see rivian offering me $67.8k for the 23 R1S quad with 6800 miles. ? i won't be upside down in it ever, but that offer cuts deep. i'm probably unreasonably holding out hope to trade in the S for a R3X in four-ish years with minimal financed.

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[Cruncher2504]

2024 R1S LE delivered Dec 23. 3700 miles. 76k trade in value from Rivian. Lol

 

[beyondgravity]

my R1S replaced a '03 Lexus RX300. i paid $8500 for the lexus in nov 2017. it sold for $8700 in aug 2023. considering the $200 profit, i paid about $3000 for six years of ownership.

now i see rivian offering me $67.8k for the 23 R1S quad with 6800 miles. ? i won't be upside down in it ever, but that offer cuts deep. i'm probably unreasonably holding out hope to trade in the S for a R3X in four-ish years with minimal financed.

I am in the same boat. Can I trade-in now and keep the credit when the R3X is out ?

 

[zapp]

$53,600 for my 2022 R1T QM with 14k miles

I guess I might get 7-10k more selling it on my own right know, since is has all the offroad stuff, meridian and the 12v frunk .. but it's still huge depreciation imho. My out the door price was $90,346 -$7,500 tax credit = $82,846 and it's paid off.
I'm currently holding a reservation on the R1T Gen2 QM, but I guess it would cost around 70k to make that upgrade - no way is the upgrade worth that much.

For the next few years, I'll just keep the R1T and it might be a good move to upgrade to a year or two old Gen2 QM down the road..
Right now, I think the 22/23 R1T is a pretty good deal as a used car.

 

[LivingInKaos]

Just an FYI - I got an email and a phone call today regarding my valuation. Email was likely automated, but the phone call was not. If they are going to call everyone who did this, they are going to be busy!!!!

 

[Eric9610]

2023 R1T QM
OTD Price $90k
Lease Payoff $76K
Trade in Quote $60k

Residual $55k

If you are able to negotiate the price at return as Chase claims may be a steal in the end.

 

[Dark-Fx]

Complete joke. Same shenanigans with Tesla, but it's sad to see Rivian swooping down to swamp levels.

yah, after finally getting my trade value I agree.

And eventually they reached out directly. Feels desperate, IMO.

 

[Hereforthesnacks]

I guess I’m a little confused. Aren’t these resale values in line with what we see with all EVs? My assumption has always been that if I buy. $100k rivian, it’s worth 65-70 k two years. Maybe 50 in 3-4. It’s just how this market works.

 

[DaveA]

I guess I’m a little confused. Aren’t these resale values in line with what we see with all EVs? My assumption has always been that if I buy. $100k rivian, it’s worth 65-70 k two years. Maybe 50 in 3-4. It’s just how this market works.

With this type of depreciation on a 2 yr old quad, who is going to pay $110k for the new one? That’s crazy for a little bit of speed that no one can use on the street. I patiently await Rivian’s price drop on the G2s.

 

[Hereforthesnacks]

With this type of depreciation on a 2 yr old quad, who is going to pay $110k for the new one? That’s crazy for a little bit of speed that no one can use on the street. I patiently await Rivian’s price drop on the G2s.

Oh I totally agree. But this depreciation is what is seen across the EV industry. It’s why I have a lot of questions for whoever is helping us with our test drive tomorrow lol

 

[Dark-Fx]

I guess I’m a little confused. Aren’t these resale values in line with what we see with all EVs? My assumption has always been that if I buy. $100k rivian, it’s worth 65-70 k two years. Maybe 50 in 3-4. It’s just how this market works.

2022's are in kind of a strange place. Yeah, we paid less because of price protection. But you can't get a new one for the price we paid. Lease residuals for current 3 year leases are significantly higher than what Rivian valued my R1T at after 8 months less time.

 

[Hereforthesnacks]

2022's are in kind of a strange place. Yeah, we paid less because of price protection. But you can't get a new one for the price we paid. Lease residuals for current 3 year leases are significantly higher than what Rivian valued my R1T at after 8 months less time.

it’s a bit odd that the residuals are so high for current leases. Not sure what is going on there.

 

[Eric9610]

it’s a bit odd that the residuals are so high for current leases. Not sure what is going on there.

Its a way to subsidize the cost. Higher residuals mean lower payment. This is something the banks do all the time. They take the loss later after all payments collected. So currently its positive cash flow.

My guess is that they negotiate on price at the end as it will cost them less to sell you the car at the lower price the prep and auction.

 

[Ecupip]

Ouch. The sad truth is that EVs are depreciating much more rapidly than ICE vehicles, especially hybrids.

Battery tech, along with other tech in EVs is changing rapidly (as witnessed with Gen 2) and so high depreciation is unfortunately par for the course.

I have been driving electric for 10 years and the advice I give to people is if you find that EV that meets your needs in terms of range, capability, and charging times - then buy it if you feel like it will meet your needs for the next 5 years or beyond.

Otherwise, I tell anyone considering an EV to lease because the risks right now in terms of battery tech, even the charging ports changing are really high for anyone who isn't looking to hold on to their car the long haul. In 3 years, you will take a bath and it doesn't matter the brand. Porsche and Mercedes are just as susceptible.

My advice is unless you are having a lot of issues with your R1 vehicle (hopefully not) then love it for the long haul. You have an incredibly capable off-road vehicle with the heart of an exotic sports car and the receipts to prove it....

I say it all depends. That isn’t the case with our ICE and EV. Our 23’ Jeep Grand Cherokee MSRP was $76k now has a trade-in value of $42k (55% diff). Our 22’ R1 MSRP was $93 now has a trade-in value of $55k (59% diff).

 

[RivianR1TinSFL]

I assume no one in here is buying a Rivian as an investment. The trade in values are in line with what they should be. Trade in values are not based on emotions or what you think it should be. It’s based on what the market at any point in time dictates and that does fluctuates.

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