Lease Payment Calculator Accuracy

[reggiev.ran]

Hey guys, for those who have recently leased the R1T/R1S, how accurate was the calculator vs the payment that you got in your lease agreement? I just want to have some idea of my monthly and DAS numbers before I drop 1k non-refundable deposit. I am newbie lessee, any idea how the fees and taxes are calculated and how they affect the monthly and DAS? Thanks

Sponsored

 

[Oyabro]

Following! I’d love to learn as well, along with taxes for any Texas residents.

 

[IbbleGib]

Took delivery 3 weeks ago. Below are the deal details.

Vehicle price: $98,300 (quad, large, granite, underbody shield)

Terms: 24m/10k

Monthly payment: $1,161.13

Credits: $7,500 (EV credit), $1k (deposit paid / added to DAS below / non-refundable but unsure what happens if credit gets denied)

Down payment: $0 / no trade-in

Due at signing: $8,050.19 (including $1k deposit)

Illinois Taxes: $4,231.06

Acquisition Fee: $895

Local, Registration, other fees: $763

Down payment: $0.00

First month payment: $1,161.13

Final paperwork stated the residual value as $77,657 (24 months / 10k miles) with $0 down, which is a whopping 79%.

All that to say, the calculator wasn't super far off, but it wasn't exact. For example, Chicago has a 9% use tax on top of the actual 9.5% tax. This wasn't factored into the online calculator, and I wasn't expecting it to be since Chicago's use tax is such a niche POS. I don't recall exactly but it was about $75 off. What was vastly different between the site calculator vs. after you've put deposit down and are doing final paperwork is the DAS (as I expected, again, thanks to the POS Chicago lease tax). Good luck, you won't regret pulling the trigger!

EDIT: Typos.

 

[reggiev.ran]

Thanks @IbbleGib for the info. Man that DAS is crazy.

 

[Twitter Fingers]

It was very close for me

 

[sherwinmdev]

Took delivery 3 weeks ago. Below are the deal details.

Vehicle price: $98,300 (quad, large, granite, underbody shield)

Terms: 24m/10k

Monthly payment: $1,161.13

Credits: $7,500 (EV credit), $1k (deposit paid / added to DAS below / non-refundable but unsure what happens if credit gets denied)

Down payment: $0 / no trade-in

Due at signing: $8,050.19 (including $1k deposit)

Illinois Taxes: $4,231.06

Acquisition Fee: $895

Local, Registration, other fees: $763

Down payment: $0.00

First month payment: $1,161.13

Final paperwork stated the residual value as $77,657 (24 months / 10k miles) with $0 down, which is a whopping 79%.

I'm in California and want to lease R1T. I'm planning to do $0 down. According to the website, due at signing are

- Down payment = $0
- Acquisition fee = $895
- First month payment = $870

estimated total is $1765 at delivery

this is for 36 months, 12K miles for dual-motor, LA Silver, 21" road. am i missing something? is yours 4x higher because it's spec'd higher?

 

[sambo]

I'm in California and want to lease R1T. I'm planning to do $0 down. According to the website, due at signing are

- Down payment = $0
- Acquisition fee = $895
- First month payment = $870

estimated total is $1765 at delivery

this is for 36 months, 12K miles for dual-motor, LA Silver, 21" road. am i missing something? is yours 4x higher because it's spec'd higher?

So the sales tax is on the portion you are using? If you keep the truck in 2 years, will you have to pay more sales tex? I'm in Illinois too, mchenry County.

 

[KRG]

So the sales tax is on the portion you are using? If you keep the truck in 2 years, will you have to pay more sales tex? I'm in Illinois too, mchenry County.

Yeah in California you only pay sales tax on the lease payments. If you buy the car at the end of the lease you’d pay tax on whatever the purchase price is.

 

[sherwinmdev]

@sambo @KRG

thank you

 

[sambo]

Yeah in California you only pay sales tax on the lease payments. If you buy the car at the end of the lease you’d pay tax on whatever the purchase price is.

Is illinois the same way??

 

[sambo]

Is illinois the same way??

It's weird that they can't put in a Lease Calculator like the Regular buying Calculator.

 

[LandonBradford]

Rivian lease calculator is accurate as long as you put $1K as down payment, as this is required to make reservation. I took screenshots before and after

Sponsored