Chase Lease Account Headaches

[waitingonanr1s]

Are others still having issues getting their lease accounts set up correctly with Chase? My lease started on May 21 and appeared in my Chase account at the beginning of June - all looked good.

On June 6, Rivian reached out to me to sign a new lease urgently because the sales tax was undercharged by $200. They also changed the lease start date and expiration date to coincide with the June 6 date per the terms of the new agreement.

Ever since, my account has shown the updated payment amount, but old due dates and expiration dates. I've been going round and round with Chase and Rivian to get this corrected. The Chase agent had no clue how to read a lease, so that wasn't helpful. Rivian agrees with my assessment, but this has been going on for weeks now with no resolution.

I had to open a CFPB complaint against Chase (since my account shows as incorrectly past due now, old payment due date was June 19, changed to July 6 with the new lease). The Chase Executive Office is researching now - so hopefully it gets resolved.

It seems ridiculous that it takes this much effort to get my lease account shown correctly. Not sure who the problem is in the process - Chase or Rivian - but Chase manages all my other accounts without any issues.

I am ultimately happy with my Dune, but if I had known the upgrade process was going to be so time consuming (between vehicle failures and lease issues), I would have just kept my gen 1.

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[TagMan]

no issues on my end, now with two Rivian Chase leases in the last three months. Sounds like the updated lease threw everything off for you. Considering you signed the original lease, which is a binding contract, instead of having to rewrite the lease, they should have eaten the $200 tax difference?

 

[waitingonanr1s]

no issues on my end, now with two Rivian Chase leases in the last three months. Sounds like the updated lease threw everything off for you. Considering you signed the original lease, which is a binding contract, instead of having to rewrite the lease, they should have eaten the $200 tax difference?

That was my thought exactly. Water under the bridge at this point though. I'm sure the gentleman I'm working with in Rivian funding department would pay the $200 out of his pocket to stop getting emails from me.

Regardless, the new lease is the valid one now - at Rivian's request. So it seems like they should have a process in place to make sure it's booked correctly. I've escalated to the Rivian executive team as well.

The new lease actually worked out ok for me, since it basically was in the shop from May 21 to June 6 anyways - so that didn't count against my lease term effectively. It's just frustrating that they half updated my account.

It would be one thing if they said it takes a month to update, but they got the payment updated right away. Funny how that works.

 

[lefkonj]

No issues with Chase since Feb-23 for our Gen1 R1S and April 25 on the Gen2. They will resolve it but I get its annoying. Not a Rivian thing but Chase is chase.

 

[waitingonanr1s]

No issues with Chase since Feb-23 for our Gen1 R1S and April 25 on the Gen2. They will resolve it but I get its annoying. Not a Rivian thing but Chase is chase.

I think they both have a part in messing it up. Chase did spend the first 7 days challenging me that I was the one that was wrong about the payment due date, but they’re not challenging that point anymore. Sounds like they let someone who knows how to read a lease look at it…lol

I know it will be fixed, but its just another example of where they should just slow down and do things right the first time , rather than dealing with cleaning up issues for months caused by poor quality assurance - both in regards to their manufacturing and lease funding process as well it seems.

I still like Rivian as a company, but the degree to which I like them is now less as a result of this upgrade transaction. It's not the fact that there were mechanical issues or issues with the loan - those weren't done intentionally. However, the process to achieving resolution of issues experienced now on both of these fronts has been nothing short of exhausting. They either need to spend time to get things right the first time or beef up their service recovery efforts in anticipation of things constantly going wrong. Their current operating model isn't what it was when I bought my gen 1 in 2023 (under that model I could have returned it when it failed on day 2, no questions asked), and I don't think it's going to yield many repeat customers as other similar options enter the market. We'll see. I know I'm more interested in Scout than I was before I decided to trade in my gen 1.

I'm thankful to have my mechanical issues resolved quickly - the road trip to Canada last week was an excellent experience. The whole lease thing just feels like a poke in the eye after finally getting that issue resolved after so much back and forth (and an extra trip to Phoenix).

 

[bod925]

No issues with my lease that started on 5/28. Everything was seamless and all is setup for the first auto draft tomorrow.

 

[waitingonanr1s]

Glad it's not widespread - I know there were many more reports of issues a while ago.

Estimated resolution is July 7 (this now the third estimated resolution date I've received). Despite reassurances from Chase and Rivian that my account wouldn't be marked past due, it continues to show a past due notation, incorrect payment due dates, and incorrect lease expiration date.

It was the last thing in my string of headaches and struggles with this upgrade that's made me decide there's no way I would ever exercise my R2 reservation for one of the earlier models - so cancelled that yesterday. I'm going to have to see a real change in their QA and delivery process to ever consider going through another transaction with Rivian again (would still consider used - and that may be the better option anyways if they're going to continue to deliver vehicles that die right off the lot, especially since the credit is gone now).

 

[Dark-Fx]

Not a single problem with mine, signed in March.

 

[one44]

I had a rough start to the lease with Chase as I was part of the first wave back in December 23' and they messed up the onboarding so that I never got my account details until after they claimed I was past due for my first payment. They sorted it out and it's been ok since, but I think Rivian messed up some documentation that they provided to Chase which Chase didn't handle for either, resulting in them generating my first statement after my first payment was due. Was a stressful first few weeks as I was trying to contact Chase and Rivian daily and then got that past due notice after being told I'd get information in a couple of weeks and that nothing was due.

Seems like this is a similar edge-case type of situation where Rivian messed up that initial agreement and then Chase messed up as a result. That CFPB complaint should at least get attention to your case for them to sort out.

 

[mkluttzy17]

Good to know.
I’m experiencing the same thing currently. I have a Dune delivery June 30. It’s been a mess so far and time consuming. It’s like the right hand doesn’t know what the left hand is doing…

 

[waitingonanr1s]

I had a rough start to the lease with Chase as I was part of the first wave back in December 23' and they messed up the onboarding so that I never got my account details until after they claimed I was past due for my first payment. They sorted it out and it's been ok since, but I think Rivian messed up some documentation that they provided to Chase which Chase didn't handle for either, resulting in them generating my first statement after my first payment was due. Was a stressful first few weeks as I was trying to contact Chase and Rivian daily and then got that past due notice after being told I'd get information in a couple of weeks and that nothing was due.

Seems like this is a similar edge-case type of situation where Rivian messed up that initial agreement and then Chase messed up as a result. That CFPB complaint should at least get attention to your case for them to sort out.

Agreed. CFPB complaints are super helpful for situations where your credit may be impacted and you are getting strung along by a financial institution. I’ve used them a couple of times in these situations and it’s amazing how quickly things get resolved once one is open. I think it really puts the pressure on from the top to respond or resolve the issue.

 

[waitingonanr1s]

Just thought I would update on this issue. I spoke with the gentleman monitoring the situation in the Chase executive office at the end of June. He indicated that the second lease payment was being paid by Chase as a goodwill gesture for all the headaches.

True to his word a new lease account, with a credit for the second payment appeared in my Chase account at the end of last week. The incorrect, past due lease account still has not been removed from my profile. So I now have two Chase lease accounts for the same vehicle showing on my Chase profile 33 days after signing the new lease (one correct and current, one incorrect and past due).

I am just so ready to be done with this transaction that started on May 21 and still is not fully executed correctly, but the extra $1,100 in my pocket makes up for the inconvenience experienced thus far. Hopefully we're on the home stretch to full resolution.

Update - the issue is finally resolved as of this afternoon July 10 - basically took a month (and a CFPB complaint) to get fixed.

 

[CyberDuck]

Bad take - you get the EV credit with a lease. While it's not a net $7500 savings, it is about $6550 with the acq fee and days-month of interest. Jumping through a small hoop to save $6550 is worth it to most people, maybe you're just richer/looser with your money than all of us.

 

[emoore]

Did you go into a Chase branch and talk with them. While I'm not a huge fan of Chase, I do have some credit cards with them and my parents bank with them. I have found it much easier to just to into a branch and talk to them. They easily fixed any issues I had where phone customer service couldn't.

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