R1S Lease in Texas

[jpd12arch]

Trying to finalize my lease details and was under the assumption that the $7500 credit and $1000 deposit would be applied to my upfront cost out of pocket but it’s not. Why? And why isn’t there more details about risidual value and total cost before agreeing to terms? This online purchase process seems odd.

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[jpd12arch]

And why isn’t the money factor disclosed?

 

[reggiehammond]

Don't use your trade-in on a lease. It's the same as increasing down payment, which is all money you can easily lose if the vehicle is totaled quickly. You want to pay $0 down on the vehicle to reduce your risk.

With that said - leasing options are pretty poor. You'd be better off going used via CarMax or local dealers as R1S and R1T supply is hitting a nice point where deals can be made. Let someone else pay the massive depreciation and own it to reduce your upfront risk on the lease.

 

[jpd12arch]

Don't use your trade-in on a lease. It's the same as increasing down payment, which is all money you can easily lose if the vehicle is totaled quickly. You want to pay $0 down on the vehicle to reduce your risk.

With that said - leasing options are pretty poor. You'd be better off going used via CarMax or local dealers as R1S and R1T supply is hitting a nice point where deals can be made. Let someone else pay the massive depreciation and own it to reduce your upfront risk on the lease.

Normally I would agree but in this case Rivian is offering $7,500 off the cap cost for leasing, then $3,000 to upgrade to an EV along with reducing the taxes by $3,500 for a trade. $14k off the total is essentially reducing the depreciation it will get hit with. The equity in my trade helps reduce it even further then I can refinance it next year when rates drop. Seems like a no brainer unless I am missing something.

 

[mudito]

Normally I would agree but in this case Rivian is offering $7,500 off the cap cost for leasing, then $3,000 to upgrade to an EV along with reducing the taxes by $3,500 for a trade. $14k off the total is essentially reducing the depreciation it will get hit with. The equity in my trade helps reduce it even further then I can refinance it next year when rates drop. Seems like a no brainer unless I am missing something.

Good math, just take in account that you'll have to pay taxes again if you opt to purchase the Rivian outright before or at the end of the lease as previously discussed.

But looks like the initial buy-in of the lease works great for you in this case!

 

[jpd12arch]

Well I pulled the trigger and traded in my 911 for a 2025 R1S Dual Max Performance. Wow! Never looking back!

 

[electruck]

Well I pulled the trigger and traded in my 911 for a 2025 R1S Dual Max Performance. Wow! Never looking back!

Congrats!

 

[Oyabro]

Congrats! You’re going to love it. Us Texas folk have to take a bigger hit on taxes to lease these due to the dumb laws we have. I fell in love with the Rivian when I first saw one and the demo drive sealed the deal. ?

 

[iansriv]

Well I pulled the trigger and traded in my 911 for a 2025 R1S Dual Max Performance. Wow! Never looking back!

Congrats! I miss my 911 sometimes but the R1 keeps me out of trouble much more. Enjoy in good health.

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