R1S lease numbers

[jakz]

Anyone out there willing to share your R1S lease numbers? We've seen a few R1T datapoints but it would be helpful to see more from the SUV side. There was one posted to Reddit yesterday for R1S which did not look good (MF of ~0.004!, ie APR ~10%).

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[djsider2]

Can you buyout these leases without suffering a big interest hit?

Does that count as a second "Owner"?

 

[bentsauce]

Anyone out there willing to share your R1S lease numbers? We've seen a few R1T datapoints but it would be helpful to see more from the SUV side. There was one posted to Reddit yesterday for R1S which did not look good (MF of ~0.004!, ie APR ~10%).

Thank you! I've been searching around with no luck! I can't make the numbers line up in my lease quote and unfortunately they don't offer lease quotes! Grr

 

[Electrified Outdoors]

Tesla made their leases (at least they used to) ever so slightly lower in payment then a finance. They had really low residuals (Low 60% range for model Y) and a high MF (interest rate). The excess mileage fee, from what I am told is $0.30 per mile which is pretty high IMO. I leased a Honda and a Tesla a couple years ago and those vehicles were $0.20 and $0.25 respectively for excess miles. Now the RIvian is a more expensive vehicle than the Honda PIlot or Model Y.

Do the math with a loan calculator. If you do a 72mo finance vs a 3yr lease with the same residual at the end its usually cheaper to own vs lease. What makes the Rivian lease appealing is if they give you a $7,500 cap cost reduction. Most you can get on a finance is $3,750 and that's if you qualify income wise and the MSRP is <80k

What I have seen of Rivian leases is that they are similar. I believe its Chase that does the leasing. I had a bad experience with Chase on a CC many years ago and will not do business with them again.

 

[shrink]

I see the acquisition fee is $895. That makes the $7500 tax credit cap cost reduction effectively $6605. With such a high money factor not sure purchasing makes sense, but if one had no intention to buy, a straight up lease might still work.

Anyone know what Rivian’s early buyout policy is and if there’s an early termination fee? Are there purchase option or processing fees when buying a Rivian leased vehicle?

The $7500 cap cost reduction does not automatically mean a lease is a better deal for those planning to purchase. Lots of moving parts and things to calculate and compare. That said, a lease option remains a great thing for many.

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