Leasing down payment/trade-in

[Fmc]

I have a gen 1 quad that I paid 75k for and my trade in is 70k. Does anyone know why Rivian limits the trade-in amount on a lease. Louisiana reduces sales tax on a trade-in so this will cost me about $5k in taxes negating any savings. Am I missing something?
Thanks

Sponsored

 

[tbinmd]

Yes, trade in amount is limited. If you do it, you will loose equity in the truck you have. Rivian will not pay the difference. Just ordered a R1T that will be delivered on 5/17. I'm selling my F150 outright since it's worth about $50k.

 

[Fmc]

Unless rivn offers 0% financing I will just buy comma ai and enjoy my gen1 for 10 more years

 

[DayTripping]

Unless rivn offers 0% financing I will just buy comma ai and enjoy my gen1 for 10 more years

I am not sure even 0% would get me to jump. Comma Ai does make a huge difference with the truck.

Maybe if they have a great deal on the new quad when it comes out, and some very good incentives, that might get me to jump.

 

[Fmc]

Trying to justify spending an extra $30k+

 

[cthelan]

Continue to enjoy the Gen1 until the wheels fall off!

Pre-price hike Gen1 turned out to be an amazing deal! Love mine and don't have any plans on trading it for a Gen2.

Recently picked up a Gen2 to replace my wife's car. The Gen2 has not lived up to the high standards our Gen1 has set. Many problems on it since day 2. All things that should have never left the factory.

Our Gen1 was built with a ton of care and it shows. No issues beyond TSB upgrades.

 

[zpyroro]

Honestly, if I were in your shoes, I’d hold onto the Gen1 for now too. I bought mine early and it's been super solid, definitely feels more polished than what I’ve been reading from Gen2 owners lately. The resale value is still strong, and that lost equity on a lease trade-in would bug me. Selling it outright and then buying might make more sense, especially with how funky the lease terms get.

If you ever plan to sell it later and ship it to a buyer in another state, enclosed car transport might be a solid option: https://www.a1autotransport.com/enclosed/. It keeps it in mint condition during transit, especially since Gen1s are still holding their value well.

Sponsored