R1S Gen 1 vs Gen 2 Depreciation

[meshugy]

Saw two Gen 1 Dual Performance models listed this morning, gone in minutes. Here’s one of them:

https://rivianroamer.com/inventory/d9d3836766d14f7eada6c8682927e8ea

Not as good of a deal as the Gen 1 Quads, but still about $200 less a month to lease this Gen 1 over the equivalent Gen 2.

apparently, still some unsold Gen 1 inventory floating around…..

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[Rivian Roamer]

Saw two Gen 1 Dual Performance models listed this morning, gone in minutes. Here’s one of them:

https://rivianroamer.com/inventory/d9d3836766d14f7eada6c8682927e8ea

Not as good of a deal as the Gen 1 Quads, but still about $200 less a month to lease this Gen 1 over the equivalent Gen 2.

apparently, still some unsold Gen 1 inventory floating around…..

They move fast!

 

[meshugy]

More lease deals on 2024 Dual Performance models:


https://rivianroamer.com/inventory/b3965f88b826bcc829874514ec268cde


https://rivianroamer.com/inventory/0706c6a228c83a9bace7c49a2e7dd518

 

[DayTripping]

It has been interesting following this thread. I went through the same financial calculations. The depreciation hit was pretty huge on used Gen1's. I did the math with a lease on a Gen2 R1T DPM or Tri vs buying a Gen1 QM outright with a relatively low interest loan.

At the end of the day, the Gen1 QM made the most financial sense. I found a very low miles '23 for under 60k and with an APR of under 5%, it was about the same to purchase as to lease a Gen2 DM. The deciding factor for me was I could write of the entire purchase price of the truck in the first year of ownership. Even if I couldn't, I still would have gone with the purchase as I'd have more flexibility with selling it, and the big part of the depreciation hit was pretty much baked in.

So many different ways to look at this in my situation. Everyone needs to run the number on theirs and do what makes the most sense for them. FYI - for those have their own business, you can get a commercial clean vehicle tax credit from the IRS on a new one. I was originally going to go this route instead of leasing. Then take the Section 179 deduction.

The used R1T, along with relatively low new car rates from Navy Federal, made the most financial sense in my situation. A new one with all the credits, friends and family discount, etc. was still going to cost me a lot more when I looked at everything including my tax implications.

 

[meshugy]

If you add up all the incentives available this month, trading up from a Gen 1 Quad to a Gen 2 Dual Large is fairly inexpensive.

Assuming you traded in a Gen 1 Quad and then leased a Gen 2 Dual Large with an immediate buy out, you’d have the following incentives available:

$7500 EV Credit
$3000 Hybrid/Gas incentive (assuming you still also own a gas/hybrid vehicle)
$3500 Customer Loyalty

In my case I’d be trading a 2023 Gen 1 Quad which Rivian offered me $67,850.00 (I paid $73K and still owe the entire amount, so underwater by $5K)

This would be my pick for a Gen 2 Dual Large: https://rivianroamer.com/inventory/fdcbaa270f4fec569355834ba82d72f2

MSRP: $89,900

So the deal would work as follows:

$89,900
-7,500 EV credit
-3,000 Gas/Hybrd
-3,500 Customer Loyalty
+5150 Loan Balance
+1800 Delivery Fee
+895 Acquisition Fee
—————————————-
$83,745

Since it’s a trade in, the taxes I paid on the Gen 1 should apply to the new vehicle. This varies state to state.


Works out to just about $10K more to upgrade to Gen 2 Dual Large, for me anyway. Seems a little silly as I just got this car two weeks ago and love it as is. Also, despite the better suspension/tech of the Gen 2, I’d be giving up the All Terrain upgrades and 835HP of the Quad I have (not sure I’m ready to give up G force inducing launches ?.) However, for the most part, all I really need is the Dual motor and a large battery. If Rivian throws us another, even bigger incentive next month it may be hard to resist.

 

[tjrivian]

Are you certain that hybrid/gas $3k can be stacked with loyalty $3500?

 

[meshugy]

Are you certain that hybrid/gas $3k can be stacked with loyalty $3500?

The Hybrid/Gas offer does say that:

This offer may not be combined with other advertised offers unless otherwise permitted by Rivian.

so you’d have to ask a guide if they do indeed permit stacking this offer with the customer loyalty.

 

[tjrivian]

The Hybrid/Gas offer does say that:

This offer may not be combined with other advertised offers unless otherwise permitted by Rivian.

so you’d have to ask a guide if they do indeed permit stacking this offer with the customer loyalty.

My guess is they won't stack. I was eligible for another discount(a perk from my employer's relationship with Rivian). Rivian would not let me stack that discount with the hybrid/gas discount.

 

[meshugy]

More Gen 1 lease deals, let’s see how long they last:

https://rivianroamer.com/inventory/0706c6a228c83a9bace7c49a2e7dd518

https://rivianroamer.com/inventory/b3965f88b826bcc829874514ec268cde

 

[meshugy]

Actually, these are the same vehicles that were listed on Saturday. The original buyers must have walked away.

 

[meshugy]

The elusive Gen 1 Quad Lease deal!

https://rivianroamer.com/inventory/a41392811fa05907eebf0943fd0e6585

Just $698 a month!

 

[tjrivian]

The elusive Gen 1 Quad Lease deal!

https://rivianroamer.com/inventory/a41392811fa05907eebf0943fd0e6585

Just $698 a month!

Gone already. Someone got lucky!

 

[meshugy]

Wow, massive dump of 2024 Dual Max/Large/Standards with great lease deals:

https://rivianroamer.com/inventory?view=grid&sort=last_activated_at&direction=desc&region=US&condition=NEW_VEHICLE_CONFIG&model_year[]=2024&model[]=R1S&ev_credit=0&nationwide=0

I count 9 2024 Duals, all available nationwide!

 

[mudito]

I had almost your same line of thinking when I purchased my 2022 R1T Quad in July. Paid 64k (cash) for it with 4800 miles.

I'm already planning into trading it in in the future (maybe a year and a half or two, depending what life brings me during that time) for a TriMotor Max R1T. We will see what are the incentives in late 2025 or 2026 but my napkin math hopeful thinking is similar to yours. Good trade-in with a still low-ish mileage R1T for a new one with incentives... OR... for a barely used one that was depreciated already

But definitely, a Tri-Motor Max is what I have as a next-step on my sight.

 

[tjrivian]

Wow, massive dump of 2024 Dual Max/Large/Standards with great lease deals:

https://rivianroamer.com/inventory?view=grid&sort=last_activated_at&direction=desc&region=US&condition=NEW_VEHICLE_CONFIG&model_year[]=2024&model[]=R1S&ev_credit=0&nationwide=0

I count 9 2024 Duals, all available nationwide!

Those deals are very meh. I guess that's why they're still available 6 hours later.

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