Planning to lease R2. Assuming 65k out the door price, what will a lease look like?

[SANZC02]

Rivian has already confirmed leasing will be available day 1. To me this means that the initial costs will be higher than expected. Also, with strong headwinds from competitors offering competitive leases on day 1 they will be forced to compete.

Have you actually seen something official on that? The only thing I ever saw was someone saying an employee said it was mentioned in an employee meeting.

I could be wrong, it could be there day one, I’d be curious to see what residuals they come out of the gate with.

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[blipit]

We will see... Programs are more important in this price range than you think. The reason tesla has this price is the program they are providing. They don't want the cars back and this is the same thing with M and AMG. A non-performance version at 60k should 100% be in the 600s. an $800 price will kill the volume.

I dont know where you saw the price on an R1 but it is less than $1k including tax.

That $3,000 lease bonus won't be available on R2. Rivian won't need incentives to move R2 inventory anytime soon.

You are dreaming a $60k spec R2 will be in $600s. A $45k Model Y Prem RWD is $660.

Go in R1S configurator, it has leasing without incentives for apples to apples. R2 will not have incentives anytime soon. There won't be existing inventory of R2 like the R1. As many as they can make this year, will be sold.

 

[Mos Eisley]

Travis' tools might be interesting to you. He'll update it down the road when the numbers are revealed.

Rivian Lease Deal Calculator - Travis Ketchum

 

[Hodog16]

I think eventually the leases will be reasonable but agree for the first run this year there's no reason to subsidize leases.

My guess is they will gladly advertise a $599 a month lease in 10 days but the fine print will be like $7000 due at signing.

 

[Eric9610]

I think eventually the leases will be reasonable but agree for the first run this year there's no reason to subsidize leases.

My guess is they will gladly advertise a $599 a month lease in 10 days but the fine print will be like $7000 due at signing.

In this setup you are saying roughly $4k down + drive offs. So traditional math on leases is every $1k down = $30 less a month in payment. Doing some basic math with only drive offs due that's a $720 a month payment. That is closer to reality than some here think, they will still need a better program.

 

[Hodog16]

Yes we will see but at least initially no reason for Rivian to have a crazy good lease with demand expected.

For those who haven’t leased before, try to avoid putting a down payment (capital cost reduction) to lower payments because if the car is totaled or stolen, the lease ends and you have effectively lowered payments that don’t exist any more and that money is gone.

Dealers love to advertise low monthly payments but the fine print usually depends on a hefty down payment to make it work.

Some buyers want to roll the fees into the lease too which is fine if the money factor isn’t that high. I tend to at least pay fees and first month at signing.

 

[Eric9610]

Yes we will see but at least initially no reason for Rivian to have a crazy good lease with demand expected.

For those who haven’t leased before, try to avoid putting a down payment (capital cost reduction) to lower payments because if the car is totaled or stolen, the lease ends and you have effectively lowered payments that don’t exist any more and that money is gone.

Dealers love to advertise low monthly payments but the fine print usually depends on a hefty down payment to make it work.

Some buyers want to roll the fees into the lease too which is fine if the money factor isn’t that high. I tend to at least pay fees and first month at signing.

Excellent advice. I would also caution people that since Chase is the finance arm for Rivian you have no ability to roll in drive offs. Those are mandatorily due at signing.

 

[Gen(R3)Xer]

Setting a lease price on the initial run is going to be difficult. There is zero history on resale so residual value is a guess. To keep the lease price down they have to set a high residual and I am not sure the lease companies are going to want the risk and go with a conservative residual value and a higher rate.

I don’t think Rivian will have any problem selling the initial run this year. It is very possible leasing may not be available until 2027 when they start seeing some used value data to more accurately set the residual values.

I agree. Rivian needs to set the base value first. They will sell as many R2 launch models as they can for as much as they can until sales slow. Then they’ll transition to non-launch R2 Duals for around $5K less, because the line is already set up for that (minus some options).

Affordability is important to Rivian, but they have to make as much money as possible to continue to grow. Most if not all of the money will go back into the company in order for it to expand. They need to transition to exports in Georgia, start setting up for the R3, etc.

The cheaper options will come in time, but they’re not the priority. Keeping the company afloat is.

 

[VandalSibs]

There's two bits of data that I remember hearing, but can never remember the exact source(s)...

1. R2 is supposed to be gross margin profitable, even at the $45k price point. Think RJ said it in a podcast, but it was a while ago and may have changed, or I heard it wrong.

2. The base/$45k trim will launch a few months after initial launch. I think it was alon a CNBC interview he was doing after the R2 preview event last month, but I didn't watch it (I saw the star point in someone's summary).

I think that the overall feeling in my head is that I'll be pleased with any good pricing announcements, but am expecting things to be roughly in line with current Model Y prices.

I don't really have a horse in this race though, as I'm not in the market (my R1T is all I need). But it is kinda fun to speculate...

 

[DuoRivian]

There's two bits of data that I remember hearing, but can never remember the exact source(s)...

1. R2 is supposed to be gross margin profitable, even at the $45k price point. Think RJ said it in a podcast, but it was a while ago and may have changed, or I heard it wrong.

2. The base/$45k trim will launch a few months after initial launch. I think it was alon a CNBC interview he was doing after the R2 preview event last month, but I didn't watch it (I saw the star point in someone's summary).

I think that the overall feeling in my head is that I'll be pleased with any good pricing announcements, but am expecting things to be roughly in line with current Model Y prices.

I don't really have a horse in this race though, as I'm not in the market (my R1T is all I need). But it is kinda fun to speculate...

I have the same recollection on both points. Makes sense that they can make some profit on the lowest spec vehicle. Other manufacturers are making similarly sized EVs for that sort of price.

 

[Gen(R3)Xer]

Can someone now run a lease for $57,990?

 

[VSG]

There are a lot of lease calculators on the net - just Google one and put in the numbers. It's going to depend on your state sales tax, your trade in value, your money factor, your down payment, your residual, lease term, Etc. Most of those are guesses, so make your own guesses and vary the numbers to get some idea of what your monthly payment will be. Or just ask Gemini for an answer.

I wouldn't enter into a lease without understanding all those numbers anyway, so best to figure it all out yourself rather than just looking at the monthly payment.

 

[MidnightRivian]

Can someone now run a lease for $57,990?

Play around with the figures to see what the payment would be.

Leasehackr Calculator

 

[mkg3]

Is this what leases costs?

I've never leased a vehicle so I don't know if it's a good or bad. The monthly payment of $1k/mo seems very high for $60K vehicle ($58K+$1.5K destination fee).

Since most people acquire vehicles based on monthly payment more than the window price, especially around this price points, this looks like a heavy commitment.

 

[MidnightRivian]

Is this what leases costs?

I've never leased a vehicle so I don't know if it's a good or bad. The monthly payment of $1k/mo seems very high for $60K vehicle ($58K+$1.5K destination fee).

Since most people acquire vehicles based on monthly payment more than the window price, especially around this price points, this looks like a heavy commitment.

I went with 55% residual and 8.16% APR to be conservative.

Here is a little better pricing if you bump the residual up to 60%, bring the apr down to 5.99% and roll the taxes in to show you a lower down payment.

Leasehackr Calculator

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