R1S lease - Numbers not adding up

[Jbsf4624]

That price bump is $1800 destination fee (its required by law). (Vehicle msrp $97,000 + $1,800 destination fee) = $98.8k

The other difference in monthly payments is taxes.

The $7500 ev tax credit is applied and shown on your screenshot.

I have a question for you who can answer this for me I'm the only early reservation holder I get 20% off the MSRP now I've been told that it's exclusively for purchase or for financing this car. If I do take the lease with the $7,500 credit I do not get the 20% off only just 5% off the reservation holder which is $5,000 of $72, 150. ..

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[wsgrunner]

Thanks, Another lame questions. Where does the 8 step calculator show up in the process. After 'Accept this offer' page? Kinda lost in this whole process. Thought they would assign some guide to walkthrough these steps.

I am going through a lease right now. I suggest either calling or using the chat and ask to have a sales person from your local service center call you. I did that and they walked me through everything. It’s frustrating that they are transparent about all the costs until you get farther along in the process. My sales rep acknowledged that too.

 

[b_ack51]

I have a question for you who can answer this for me I'm the only early reservation holder I get 20% off the MSRP now I've been told that it's exclusively for purchase or for financing this car. If I do take the lease with the $7,500 credit I do not get the 20% off only just 5% off the reservation holder which is $5,000 of $72, 150. ..

What's the question? If it's why is it only 6-7% lease vs 20% finance, some thoughts below but I'm not Rivian so it's just obvservations I've seen.

If you lease, yes you only get about $5,000-6,250 off the car. I think someone said in theory it's about 1/3 of the 20% which be like 2 years leasing vs 6 years financing. 2/6 = 1/3. Not sure how true it is, but I think my financing discount was about $19000 and my leasing discount was $6250. So somewhat close.

If you finance, you get the 19-21% off, depending on whatever they provided.

There's been quite a few posts about this over a month ago if you look in this thread when the email first got sent out.

 

[virgnia_rivian]

Just for some general knowledge, when leasing, a traditional dealer will typically try to get the sale to a certain monthly price based on a certain term. They then work backwards to figure out the money down to figure out where the residual will land. With many automakers, on a 36-48mo lease the residual is normally around the 50-60% mark. Rivian is being very aggressive to move vehicles, which makes sense from a ramping standpoint.

Regardless of the % of the residual, it's always a math game to determine if the vehicle is a good buy/value at the end of the lease. Also, most leases have a lease disposition fee that you must pay if you don't buy out the vehicle at the end or buy another vehicle from the manufacturer. (Rivian has a $495 disposition fee, it's in the disclosure statement)

Leasing is typically a great option when you drive low miles and want to get a vehicle at far less than the cost of buying with low money out of pocket. You don't "own" anything at the end of the lease, but you also didn't pay for the entire vehicle, so you're free to move on or choose to buy it.

 

[RA10]

I am going through a lease right now. I suggest either calling or using the chat and ask to have a sales person from your local service center call you. I did that and they walked me through everything. It’s frustrating that they are transparent about all the costs until you get farther along in the process. My sales rep acknowledged that too.

Been 2 hours on hold, waiting to be connected to CSR

 

[Lifeinabox]

Been 2 hours on hold, waiting to be connected to CSR

I just opened up a Rivian chat. I was #120 and quoted wait is 7hrs. Can't make this stuff up.

 

[RWerksman]

I just opened up a Rivian chat. I was #120 and quoted wait is 7hrs. Can't make this stuff up.

I was at 60 the other day, and it told me 5 hours. I was in in 50 minutes.

 

[Rivtony]

I just opened up a Rivian chat. I was #120 and quoted wait is 7hrs. Can't make this stuff up.

wow, it looks like that the guide program revamp really impacted the chat waiting times.
I had to chat with Rivian few times a little over a month ago during my leasing process and the wait was never over 20/30 mins.

 

[wsgrunner]

Been 2 hours on hold, waiting to be connected to CSR

Ugh, sorry! I was able to get a text line at the SC because they reached out to me that way and now have been able to text them to get my questions answered and even had them call me to when I requested it.

 

[RA10]

Been 2 hours on hold, waiting to be connected to CSR

Finally got connected to one after around 3 hours of hold time. Once connected, they were super nice and apologetic/ empathetic for the situation of long wait times. They were extremely helpful in addressing many queries on the call and later promised to have SC rep call back. A friendly SC rep DID call back promptly and that was another great experience. I guess, people are over all helpful, once you get a hold of some one.

Final stats: Residual = 65% and MR = .00135 Overall, satisfied with the deal so far.

 

[Rivian_Hugh_III]

Just wait until you experience the fee fi fo fum, which is applied when you least expect it!

 

[Yossarian]

Thanks, Another lame questions. Where does the 8 step calculator show up in the process. After 'Accept this offer' page? Kinda lost in this whole process. Thought they would assign some guide to walkthrough these steps.

The table appears to show that you will be providing $9,985 at signing, which I guess is some combination of fees and cap cost reduction. It also appears to indicate an earlier buyer contribution of $1,000, which I assume is the Rivian deposit to start the process. That's total out of pocket of nearly $11,000, right? It would also mean your monthly lease payment is effectively $1,122 ($817 plus 1/36 of $10,985). If that's correct, it means that you wi11 have paid $40,397 to drive the car/truck for three years.

Please correct me if I've gotten something wrong.

 

[RA10]

The table appears to show that you will be providing $9,985 at signing, which I guess is some combination of fees and cap cost reduction. It also appears to indicate an earlier buyer contribution of $1,000, which I assume is the Rivian deposit to start the process. That's total out of pocket of nearly $11,000, right? It would also mean your monthly lease payment is effectively $1,122 ($817 plus 1/36 of $10,985). If that's correct, it means that you wi11 have paid $40,397 to drive the car/truck for three years.

Please correct me if I've gotten something wrong.

You are spot on sir!

Down Payment - $7,000 + tax (7.8%) = $7,546
36 payments of ~$817 (including taxes) = $29,412
Total Amount = $36,958 + Dumb processing fee and other fee) = ~$40,000.

Here's the detailed breakdown,

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