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Eric9610
Well-Known Member
A step will open up that allows you to make the payments via plaid. The process is really easy. You get final documents 24-48h before delivery for signing. Then the car shows up in your online chase dashboard in 1-2weeks after you take delivery..
KiwiSugar2
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- Will
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- Jan 26, 2024
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- Austin, TX
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- 2013 R1S
My credit union didn't work with plaid so I had to do a wire bank transfer. Provided Rivian the wire # online after I reached out to my credit union and within the next day, the Rivian step for payment was marked as completed.
One minor complaint I have with Chase leasing was my first months payment statement was printed on March 7th listing the payment due on March 10th. Once I got the statement in the mail to set up payment, it was already assessed a late payment fee. I had to call Chase to get the late fee reversed. Not sure if it was Rivian or Chase who dropped the ball.
One minor complaint I have with Chase leasing was my first months payment statement was printed on March 7th listing the payment due on March 10th. Once I got the statement in the mail to set up payment, it was already assessed a late payment fee. I had to call Chase to get the late fee reversed. Not sure if it was Rivian or Chase who dropped the ball.
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RocklinRivian
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- 2024 Quad R1S, BMW M3, Tesla Model 3
Plaid is a technology platform used to connect to different financial institutions.
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Riviot
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Mind posting up your lease sheet? Redacted for personal info of course.
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ssbmx90
Well-Known Member
I think my lease is about $100 more than the shop calculator. Using the closest Credit score as well. I reserved on March 8th from the available inventory/shop and it's in transit for Delivery March 29th. My Guide said the residual is $58,432. for 36 months/10k mi
I figured I can buy it out at the end or give it back if the market tanks even worse by then.
Electrified Outdoors
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- Ken
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MSRP of your config?
jomak
Active Member
We take delivery on the 29th. I finalized all steps, but 1 (the day before paperwork).
My wife and I had to open up our credit, they said they pulled Trans Union & Equifax.
After that, we got approval after 24 hours. Rivian could not provide us with an insurance quote, their partner did not want new policies in GA.
PMT: PLAID which I will not do as my bank doesn't have a way to remove 3rd party apps you connect and I didn't have time to move the funds to another bank. You can mail a check, give yourself 10 days before delivery OR what I did wire xfer for $20.
I will say Rivian is a PAIN! They want XYZ met and if they only get X&Z they complain or if they ZYX in reserve they complain. I have never dealt with anyone who was finicky about how they need to be paid and verification of things they want. My insurance binder had me as Primary (how it was bought) but they were upset because my wife is primary on the R1S and they were pushing back on that...OMG!
ddimit
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- David
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- Feb 28, 2024
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- Sacramento, CA, United States
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- Tesla model S, Ford f150 lightning
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- Tech manager
The process was pretty seamless here. All completed online. Approval in 45 seconds, paperwork within a day. Giude was slow to respond to requests. I initially submitted my Tesla as a trade, but it slowed things down, and I pulled it as they would lowball the offer and send it off to auction anyway. My residual came out to 65%. I am still waiting on Gulde's reply for the money factor number. Insurance was easy as I had nationwide already, and it is their insurance partner. My broker quoted it and it was $500.00 a year cheaper than my Model S.
Reading the lease terms, they seem pretty favorable. There is a clause to have an independent appraisal at the end of the lease to challenge the residual value. If the market value is below what the residual is and you are interested in buying out, I have a feeling these will be way under residual.
The auto market is highly variable. I came off a lease on a GMC truck where the residual was 67%, and the buyout number was about 4-5k below market value. I bought out the lease, turned around, and sold it back to a dealer for 4K over my buy-out cost.
We will see where Rivian is in 3 years and make a determination at that time.
Reading the lease terms, they seem pretty favorable. There is a clause to have an independent appraisal at the end of the lease to challenge the residual value. If the market value is below what the residual is and you are interested in buying out, I have a feeling these will be way under residual.
The auto market is highly variable. I came off a lease on a GMC truck where the residual was 67%, and the buyout number was about 4-5k below market value. I bought out the lease, turned around, and sold it back to a dealer for 4K over my buy-out cost.
We will see where Rivian is in 3 years and make a determination at that time.
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