Gen 1 is a great (lease) deal!

[narmstrong79]

Gen 1 lease pricing is so attractive, not offered in my state so I had to purchase. But those on the fence, these Gen 1 are a great deal

Compared to Gen 2

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[WannabeTrucker]

My 2024 R1T lease was a great deal for sure.

 

[MidnightRivian]

I love a good deal especially when it comes with 835 HP.

 

[Rae11]

The Quad large is what we just got. Agreed, it’s a good lease deal with the $7500 credit too.

 

[sifutbol]

Hey Gang,

Wanted to get everyone's thoughts. I am pretty close to pulling the trigger on a lease, but am having second thoughts. I have a LA Silver Quad Large on order $83500 MSRP. Getting $6000 F/F discount. My 3YR, 10k miles per year lease is $637 inc tax with $0 down (@$3500 drive off). Residual is a little over $52K, (around 61%/62%).

I feel like the residual is over inflated, so am starting to have second thoughts. Is it right to assume that the residual is over inflated to get people to lease and purposefully give the truck back because you will be fairly upside down at end of lease? I am seeing a ton of used 2022 Quads sititing for sale. The only ones moving are if they get in to the $55K and below range, so that tells me that in 3 years, the truck value will not be anywhere near $52K so it wouldn't make sense to keep it.

Thoughts?

 

[Lifeinabox]

Hey Gang,

Wanted to get everyone's thoughts. I am pretty close to pulling the trigger on a lease, but am having second thoughts. I have a LA Silver Quad Large on order $83500 MSRP. Getting $6000 F/F discount. My 3YR, 10k miles per year lease is $637 inc tax with $0 down (@$3500 drive off). Residual is a little over $52K, (around 61%/62%).

I feel like the residual is over inflated, so am starting to have second thoughts. Is it right to assume that the residual is over inflated to get people to lease and purposefully give the truck back because you will be fairly upside down at end of lease? I am seeing a ton of used 2022 Quads sititing for sale. The only ones moving are if they get in to the $55K and below range, so that tells me that in 3 years, the truck value will not be anywhere near $52K so it wouldn't make sense to keep it.

Thoughts?

The inflated residual (along with money factor) gets you to the lower monthly payment, so if you prefer a lower residual then you'll likely pay more during your lease. Run the numbers and pick your poison...

 

[sifutbol]

yep! I guess my point was, I was looking to lease and buy it or sell it at end of term as i have been able to do with other brands. Was figuring $7500 credit plus $6000 F&F would make it possible, but doesnt look like it with inflated residual. If you are ok giving it back then 3 years of low monthly payments its attractive.

 

[HIRivian]

yep! I guess my point was, I was looking to lease and buy it or sell it at end of term as i have been able to do with other brands. Was figuring $7500 credit plus $6000 F&F would make it possible, but doesnt look like it with inflated residual. If you are ok giving it back then 3 years of low monthly payments its attractive.

I'm just about ready to pull the trigger on a lease and I was thinking about this exact situation. If the residual is higher than the value at the end of the lease, could you turn the car in and re-purchase it at the lower price?

 

[Davethadog]

The reason the payment is so low and the residual is so high is because they’re pocketing the $7500 rebate. My wife and I just went through this with her T, we decided after it was all calculated out it was a wash between purchasing and buying.

 

[MasterofWilford]

Excellent lease deal but I cancelled and ordered a Gen2 R1S. It will be 250-300 more per month I think it’s worth it for me.

 

[nb84]

Hey Gang,

Wanted to get everyone's thoughts. I am pretty close to pulling the trigger on a lease, but am having second thoughts. I have a LA Silver Quad Large on order $83500 MSRP. Getting $6000 F/F discount. My 3YR, 10k miles per year lease is $637 inc tax with $0 down (@$3500 drive off). Residual is a little over $52K, (around 61%/62%).

I feel like the residual is over inflated, so am starting to have second thoughts. Is it right to assume that the residual is over inflated to get people to lease and purposefully give the truck back because you will be fairly upside down at end of lease? I am seeing a ton of used 2022 Quads sititing for sale. The only ones moving are if they get in to the $55K and below range, so that tells me that in 3 years, the truck value will not be anywhere near $52K so it wouldn't make sense to keep it.

Thoughts?

I saw that config on the shop a couple weeks ago and almost pulled the trigger, but hesitated. I wish I hadn't. The only QM on there now is $89500 El Cap on 20"s, so now I'm debating between the PDM or DM, since the DM will qualify for an additional $5000 tax credit (post-purchase) on top of the $7500 federal + the $6000 FF discount. The monthly lease is roughly the same between the 2. It just comes down to that tax credit.

 

[narmstrong79]

I saw that config on the shop a couple weeks ago and almost pulled the trigger, but hesitated. I wish I hadn't. The only QM on there now is $89500 El Cap on 20"s, so now I'm debating between the PDM or DM, since the DM will qualify for an additional $5000 tax credit (post-purchase) on top of the $7500 federal + the $6000 FF discount. The monthly lease is roughly the same between the 2. It just comes down to that tax credit.

Damn That's great, I have a PDM Standard+ R1S and the MSRP was in that $89K range before the (overprices) destination charge. No lease option in my state as I said. FF would have been awesome, at least i got the pre-order discount.

 

[sifutbol]

The reason the payment is so low and the residual is so high is because they’re pocketing the $7500 rebate. My wife and I just went through this with her T, we decided after it was all calculated out it was a wash between purchasing and buying.

Pocketing the $7500? How is that? It looks to me that they are using it to bring your down payment down. Am I wrong?

 

[R1TCA]

@nb84 : What’s the additional $5000 tax credit you refer to?

 

[narmstrong79]

@nb84 : What’s the additional $5000 tax credit you refer to?

His profile says "Colorado" They have some crazy incentives on EVs from what I hear.

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