2024 R1T Lease

[Tehese]

First time poster here, long time lurker.

But I decided to pull the trigger on a 2024 R1T, I've only ever financed; however, the incentives make leasing a no brainer! Besides that though I believe I'm getting a pretty stellar deal, but want to see what y'all think as well!

MF: 0.00063
Residual: 51,566

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[GeauxRivian]

Congrats! I get mine this Wednesday! Super excited!

 

[ttphhi]

Wow. Looks like a great deal. How did you find a Gen1 R1T?

 

[ttphhi]

I’m actually in the process of picking up a Gen1 R1S Quad Large with a similarly good lease deal.

 

[Electrified Outdoors]

The interest rate is 1.52% looks like and your residual is 60% based on some quick back of the napkin math.

When I lease I go for zero cap cost reduction because in the event of a total loss you don't get that back. Your $500 deposit go towards fees or cap cost reduction?

My opinion..and I am not a financial advisor..is that if the lease payment before any out of pocket cap cost reduction is less than 1.25% of the MSRP its a decent lease deal. Less than 1% would be a steal!

 

[Tehese]

Wow. Looks like a great deal. How did you find a Gen1 R1T?

If you browse around this forum for Rivianroamer you'll see a lot of posts. This just tracks available R1S's and R1T's across the USA/CA. Gen1 R1T's do pop up, but they typically get reserved relatively instantly.

 

[Tehese]

The interest rate is 1.52% looks like and your residual is 60% based on some quick back of the napkin math.

When I lease I go for zero cap cost reduction because in the event of a total loss you don't get that back. Your $500 deposit go towards fees or cap cost reduction?

My opinion..and I am not a financial advisor..is that if the lease payment before any out of pocket cap cost reduction is less than 1.25% of the MSRP its a decent lease deal. Less than 1% would be a steal!

Thank you for your useful information, I won't know for sure where the deposit goes until I get the official paperwork ~2days prior to pick up (I'll update here), but it looks like I have an extremely good lease!

 

[Rivian Roamer]

If you browse around this forum for Rivianroamer you'll see a lot of posts. This just tracks available R1S's and R1T's across the USA/CA. Gen1 R1T's do pop up, but they typically get reserved relatively instantly.

R1Ts generally last shorter than an hour.

 

[1212c8]

Congrats - I pick up my 2024 R1T lease on Saturday (hopefully) - still waiting for the final docs/lease contract. I wonder if it has changed for month of September.

Looks like your MF is a little higher than I expected. I had originally been quoted .00036 (.86% APR) but your residual is also higher than I expected which looks like a net win. My dual large residual was quoted ~55% for 12k lease. Anyone know if performance R1Ts historically get a better residual?

 

[Tehese]

Updating this post because I wanted to see the difference between finance numbers at the end of Aug vs September.

Same Vehicle and lease terms

Residual - 50,692
MF - 0.00001 (had to ask the guide to double-check)

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