R1S Gen 1 vs Gen 2 Depreciation

[meshugy]

Those deals are very meh. I guess that's why they're still available 6 hours later.

If you look at equivalent Gen 2 vehicles, the monthly payments are $200 to $300 lower on the Gen 1, saving you $7-10K over the life of the lease. APR is 5%, the Gen 2s are more like 7-8%

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[tjrivian]

If you look at equivalent Gen 2 vehicles, the monthly payments are $200 to $300 lower on the Gen 1, saving you $7-10K over the life of the lease. APR is 5%, the Gen 2s are more like 7-8%

Where do you see that? When I look at these two vehicles both of which have an $81,150 MSRP, the monthly lease payment difference is only $30. Additionally 2024s won't qualify for the $3k hybrid/ice incentive, whereas 2025s will((Well not these becaue they're standard pack, but large packs will), and that makes the difference even less.

 

[meshugy]

Where do you see that? When I look at these two vehicles both of which have an $81,150 MSRP, the monthly lease payment difference is only $30. Additionally 2024s won't qualify for the $3k hybrid/ice incentive, whereas 2025s will((Well not these becaue they're standard pack, but large packs will), and that makes the difference even less.

looks like you’re not comparing apples to apples. The 2025 has less expensive specs. I’d have to see the full listings, but I can already see the 2024 has the $2K Ocean Coast interior and the $2K Sport Bright Wheels. The 2024 will also have the Elevation Audio which is another $1750 as well as air compressor and camp speaker $800. I can’t find a 2025 spec’d like that right now but if you did it would be around $6K more MSRP with a payment more like $832 a month.

However, you’re right in that the Dual Standards are much closer in terms of lease deals with Gen 1 being only about $100 less a month. Rivian has a better MF for the Standards, about 6.25%. I was looking at the large batteries which have a bigger discrepancy. The MF on the Larges is more like 7% or more which makes the 4.99% on the Gen 1 a nice deal.

 

[meshugy]

These are pretty close in specs:

2024 Dual Large MSRP $88,250 $796.10/mo

https://rivianroamer.com/inventory/975197a241c5cf9eba626a3eadf32627

2025 Dual Large MSRP $91,250 $977.43/mo

https://rivianroamer.com/inventory/57f6c683f56571c18f506b265eabce01

Almost $200 less per month for the 2024. However, you’re correct that if you applied the hybrid/gas discount to the 2025 it would result in a payment more like $899 a month so just a $100 savings per month on the 2024.

 

[Rivian Roamer]

These are pretty close in specs:

2024 Dual Large MSRP $88,250 $796.10/mo

https://rivianroamer.com/inventory/975197a241c5cf9eba626a3eadf32627

2025 Dual Large MSRP $91,250 $977.43/mo

https://rivianroamer.com/inventory/57f6c683f56571c18f506b265eabce01

Almost $200 less per month for the 2024. However, you’re correct that if you applied the hybrid/gas discount to the 2025 it would result in a payment more like $899 a month so just a $100 savings per month on the 2024.

If you use the "check availability" feature the lease calculator will show up for you to toy around with the numbers.

 

[rivtinez]

looks like you’re not comparing apples to apples. The 2025 has less expensive specs. I’d have to see the full listings, but I can already see the 2024 has the $2K Ocean Coast interior and the $2K Sport Bright Wheels. The 2024 will also have the Elevation Audio which is another $1750 as well as air compressor and camp speaker $800. I can’t find a 2025 spec’d like that right now but if you did it would be around $6K more MSRP with a payment more like $832 a month.

However, you’re right in that the Dual Standards are much closer in terms of lease deals with Gen 1 being only about $100 less a month. Rivian has a better MF for the Standards, about 6.25%. I was looking at the large batteries which have a bigger discrepancy. The MF on the Larges is more like 7% or more which makes the 4.99% on the Gen 1 a nice deal.

I would also note that these deals are less attractive because the Gen1 is exactly that, Gen1. Rivian made a lot of improvements in Gen2, that's why they released it.

The biggest sticking point for me is that the Gen1 onboard computer is so much slower than the Gen2, and the autonomy platform won't be coming to Gen1. That takes a lot of value away, personally.

That said, I am watching a few of them to see if any deals fall from the sky to accelerate my R1S purchase

 

[tjrivian]

If you use the "check availability" feature the lease calculator will show up for you to toy around with the numbers.

That's pretty cool. Does that mean the residual and MF of each vehicle are encoded somewhere in the Rivian listing information? I presume you need those numbers to do the lease calculator. If so, it would be nice to know how to get to those numbers directly.

 

[meshugy]

I would also note that these deals are less attractive because the Gen1 is exactly that, Gen1. Rivian made a lot of improvements in Gen2, that's why they released it.

The biggest sticking point for me is that the Gen1 onboard computer is so much slower than the Gen2, and the autonomy platform won't be coming to Gen1. That takes a lot of value away, personally.

That said, I am watching a few of them to see if any deals fall from the sky to accelerate my R1S purchase

for sure, if you care about autonomous driving Gen 2 is worth the extra cost, and as tjrivian pointed out, with the gas/hybrid discount applied to the Gen 2 lease you’re saving only $3600 over the term of the lease for a Gen 1. Still probably worth it if you don’t care about autonomous driving, but not a massive savings.

 

[meshugy]

2023 Quad Large!

https://rivianroamer.com/inventory/9b18c5e43e6e3a43698a10acd337cc77

Looks like you can’t lease it though

 

[Rivian Roamer]

That's pretty cool. Does that mean the residual and MF of each vehicle are encoded somewhere in the Rivian listing information? I presume you need those numbers to do the lease calculator. If so, it would be nice to know how to get to those numbers directly.

No. I'm using Rivian's own APIs for these lease calculations. You can be assured they're using the same math as Rivian's own site. This is just a bit more convenient.

 

[derekmw]

I was happy to lease my 2023 Dual Large Performance with underbody shield, 20" AT, spare wheel, in white delivered last possible day for the F&F discount - for $562 (after taxes/fees).

The residual? $41k in 3 years! pretty crazy but not surprising. I sold my 2022 Quad in April for $65k and now I've seen similar mileage and optioned ones for as low as $45k.

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