Estimate compared to real lease numbers

[ccarlone]

Hello everyone, this would be my first Rivian purchase and I feel like I found a great R1S Spec in the shop last week. The estimated lease numbers to me seemed like an amazing deal for being a Quad Large.



But then when I got to the finance process step (I will be leasing) the number jumped up quickly from the estimate. Quick note I did do the wheel swap for 22 brights so yes that does bump the price from the original $90,500 to the current $93,000 + $1,800 (from what I believe is a delivery charge? Totaling $94,800 (total vehicle price). Looking at $1,159 a month/10k miles/36 months/ $500 down



When I first found the build the estimator had me at $894 a month/10k miles/36 months/ $500 down



So a $265 monthly bump from original.



Now don’t get me wrong there’s a $4,300 difference from original build to current with wheel swap and delivery charge. But this is where I’m wrong maybe? Isn’t the rule of thumb every $1,000 additional is about 20-30 bucks additional monthly? So let’s roughly say an additional 120 a month makes sense. Not $265…



Can someone shed some light on this. In no way am I an expert on leasing and the numbers just seemed off to me. Also, My $500 a month is just a random #



Lastly, has anyone been able to roll negative equity from their trade into the lease or you must pay it all upfront?



Thank you

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[LL75]

check out this thread. I just did a lease in Texas and waiting to pick up in a few weeks. Texas will charge you the tax for the vehicle in the lease price. In my opinion, it is only worth it if you able to get the 7500 EV credit and the 6K friends and family discount. Since you are getting the R1s, you won't get that F&F.

https://www.rivianforums.com/forum/threads/leasing-in-texas.30428/

 

[ccarlone]

check out this thread. I just did a lease in Texas and waiting to pick up in a few weeks. Texas will charge you the tax for the vehicle in the lease price. In my opinion, it is only worth it if you able to get the 7500 EV credit and the 6K friends and family discount. Since you are getting the R1s, you won't get that F&F.

https://www.rivianforums.com/forum/threads/leasing-in-texas.30428/

Hey I appreciate your reply and that link. I just did a quick read over. Sounds like Texas is just simply a terrible state to lease, I’m originally from CT and have some leases there and I thought that was terrible but this…
I see one person mention when you trade in a vehicle with Rivian you pay tax only on the GCC amount, would you be able to shed light on this? I was under the impression tax credits from trade in is always a given and Rivian just sent me a message saying they don’t do that? This killer deal is taking a major turn from the last few things I’m finding out…

thanks again

 

[LL75]

Hey I appreciate your reply and that link. I just did a quick read over. Sounds like Texas is just simply a terrible state to lease, I’m originally from CT and have some leases there and I thought that was terrible but this…
I see one person mention when you trade in a vehicle with Rivian you pay tax only on the GCC amount, would you be able to shed light on this? I was under the impression tax credits from trade in is always a given and Rivian just sent me a message saying they don’t do that? This killer deal is taking a major turn from the last few things I’m finding out…

thanks again

I didn't do the trade in so I don't understand it too well. Maybe @blackheart571 can chime in here. He helped me quite a bit to understand this lease process in Texas. I had a feeling that the number would be way off if you don't calculate all the fees and the tax in there.

 

[ccarlone]

I didn't do the trade in so I don't understand it too well. Maybe @blackheart571 can chime in here. He helped me quite a bit to understand this lease process in Texas. I had a feeling that the number would be way off if you don't calculate all the fees and the tax in there.

Awesome thanks for that contact, I’ll reach out! But yeah I hear you on that, I was pretty shocked when I saw the big number jump plus all the money up front needed. As long as I get my tax credit difference with my trade in I’m honestly happy but with the guide I’m currently in contact with saying they don’t do that I’m very confused.
Thanks for your help!

 

[LL75]

Awesome thanks for that contact, I’ll reach out! But yeah I hear you on that, I was pretty shocked when I saw the big number jump plus all the money up front needed. As long as I get my tax credit difference with my trade in I’m honestly happy but with the guide I’m currently in contact with saying they don’t do that I’m very confused.
Thanks for your help!

Awesome thanks for that contact, I’ll reach out! But yeah I hear you on that, I was pretty shocked when I saw the big number jump plus all the money up front needed. As long as I get my tax credit difference with my trade in I’m honestly happy but with the guide I’m currently in contact with saying they don’t do that I’m very confused.
Thanks for your help!

This is my final lease detail. The EV credit is there. I did not put anymore additional down payment. Mine is an DM R1T Large so it cost less than yours. The money due at signing is basically tax and all the fees.

 

[EBEG]

Years ago I leased a few cars from traditional dealers who advertised lease prices in the newspapers. The lease payment was always about 30% higher than the advertised price. Because taxes, registration, destination and other fees can take up a higher percentage of the "financed" amount in the lease and there are fewer monthly payments. $3,600 for those items can add $100 or more to the payment on a 3 year lease. Same thing with a lower down payment on the lease, since advertised lease prices often include a hefty down payment. Leases aren't always cheaper.

 

[ElectricMike]

Sorry for your experience and, while I cannot shed light, I can share that in my lease process, the estimates, final numbers, and what turned out to be the actual final numbers were all over the place, with Rivian unable to offer any explanation, even when pressed, and Rivian, now 5 weeks after me taking delivery, still owes me a refund. A great vehicle with a disappointing lease process.

 

[blackheart571]

He helped me quite a bit....

That would be a "She".... ? ? ? ??

 

[LL75]

That would be a "She".... ? ? ? ??

sorry. bad assumption

 

[blackheart571]

sorry. bad assumption

No biggie! I get that most people assume "he" when cars or complicated numbers are involved. I love surprising people with "I'm a girl" when they assume I'm a guy. LOL There's almost nothing a guy can do that I can't do....only a handful of things I can't do (mostly physical).

 

[ccarlone]

I appreciate everyone’s help and feedback! I decided to cancel my R1S and now on the lookout for an R1T

 

[LL75]

I appreciate everyone’s help and feedback! I decided to cancel my R1S and now on the lookout for an R1T

If you decided on the 2024 Large pack R1T, there is friends and family discount of 6K can be add to the lease total. some members here could definitely help you with that

 

[DD4ST]

When I leased I noticed that the semi-final paperwork matched the lease payment almost exactly. I say semi-final because I soon realized I was putting an extra $1000 down on the R1T and had them remove that. In my case this also caused them to refigure the lease in a different month and my lease payment went down. I did not have a trade-in but looked at that. So my three assessments are 1) the online payment shown seems to be accurate, 2) lease criteria can change month-to-month, and 3) how trade-ins and taxes on leases are treated are state-specific, not national.

 

[pmckee007]

Thank you all for all the information you have posted here. I finally have an appointment for a Demo drive next week and plan to put in an order for my R1T shortly after that. I am considering leasing rather than buying outright due to the fact that battery technology changes so rapidly. We've had EVs since 2013 and are looking forward to getting rid of all our gasoline usage with this purchase or lease. I had not heard about the F&F discount and am certainly interested in pursuing that option as well. Thanks again!

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