Lease terms

[HIRivian]

I need help as my delivery should be within the next two weeks. I placed an order through the soon on June 26 and agreed to the lease terms at that time. I should have printed them but my understanding was that everything was locked. Rivian debited my account for the down payment and fees on the 26th. I still have not taken deliver of the car but I checked my RIvian account and it says to secure financing or leasing.

I thought that was strange since I thought I already did that. For the heck of it, I inputted my original terms and now the payment is higher. I contacted Rivian and the person said that the rates change daily. I told her the situation and she said she can't answer that and will transfer my case to someone else and they will get back to me.

My question is, are the lease terms locked when you order the car and they debit your down payment or can it change all the way until the day of delivery?

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[LL75]

I didn't make any payment til 2 days before delivery date like what the guide suggested. Payment was via plaid which included tax, first month lease and a bunch of fees. I did not put anymore money on down payment. Those numbers should not change

 

[HIRivian]

Thank you. For my situation, the lease payment is now higher and they took the money out of my account when I signed the paperwork almost two months ago.

 

[LL75]

Thank you. For my situation, the lease payment is now higher and they took the money out of my account when I signed the paperwork almost two months ago.

that is odd. they have no link to my bank account except for when I do the Plaid transfer on "due at signing" which your guide would tell you "DO NOT PAY" too early.

 

[Electrified Outdoors]

This sounds frustrating.

If you signed lease paperwork then it sounds like the approval period might have expired.

If you signed a purchase agreement then the finance/lease terms haven't been finalized. The PA only locks in the vehicle price.

If you applied for leasing and were approved, that approval is likely only good for 30-60 days. After that, they would make you reapply.

I'm just guessing here based on how the banks typically work. If you indeed applied and were approved for the lease you would need to speak with someone at Chase I would think. Since you said it would two months ago my guess is that the approval has lapsed.

 

[HIRivian]

This sounds frustrating.

If you signed lease paperwork then it sounds like the approval period might have expired.

If you signed a purchase agreement then the finance/lease terms haven't been finalized. The PA only locks in the vehicle price.

If you applied for leasing and were approved, that approval is likely only good for 30-60 days. After that, they would make you reapply.

I'm just guessing here based on how the banks typically work. If you indeed applied and were approved for the lease you would need to speak with someone at Chase I would think. Since you said it would two months ago my guess is that the approval has lapsed.

I have a call with my Rivian guide in an hour. I will ask him but it isn't right that they already took money out of my account and could not deliver the car in time. The initial delivery date was the middle of July then it got changed to early August and now it's towards the end of August.

 

[HIRivian]

I spoke to Rivian today. They said the rates changed from when I initially made my down payment. I told them that Rivian should honor those rates since they already took my money and it's not my fault that I'm waiting almost two months for a car that was already built. They said they cannot change the lease rates but they will try to adjust something on their end to get the payments the same. Hope this helps other people that may be in a similar situation.

 

[Electrified Outdoors]

I have a call with my Rivian guide in an hour. I will ask him but it isn't right that they already took money out of my account and could not deliver the car in time. The initial delivery date was the middle of July then it got changed to early August and now it's towards the end of August.

Ok, it sounds like you went all the way through the process and then Rivian cancelled the delivery? In that case, Rivian should make things right because you went all the way through the process and they failed to deliver.

The leasing is through Chase so Rivian can't adjust it on their end other than to add in some cap cost reduction to bring your payment down or reduce the price of the vehicle.

 

[HIRivian]

Ok, it sounds like you went all the way through the process and then Rivian cancelled the delivery? In that case, Rivian should make things right because you went all the way through the process and they failed to deliver.

The leasing is through Chase so Rivian can't adjust it on their end other than to add in some cap cost reduction to bring your payment down or reduce the price of the vehicle.

That sounds like what they are doing but I'm hopeful they will follow through. This entire process has been kind of disappointing. My experience with Tesla was the exact opposite.

 

[Electrified Outdoors]

That sounds like what they are doing but I'm hopeful they will follow through. This entire process has been kind of disappointing. My experience with Tesla was the exact opposite.

I am sure Rivian will take care of you. This doesn't sound like a typical situation and Rivian still struggles to resolve unique situations in some instances.

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