R1S Lease Terms

[windblowlc]

I'm just going through lease terms tonight and noticed that the vehicle price used for the lease ($110,200) did not match the vehicle price in the transaction summary ($108,400) nor the vehicle price (also 108400) if I click on the financing option.

Anyone run into this situation or know what's going on? I'm planning to just ask Rivian tomorrow during business hours.

I'm at a stage before these details are shared so I was hesitant to move forward with the process with, what looks like, the wrong vehicle price. In none of the disclosures I can see does it state that the destination charge is added on to the vehicle price and not itemized. I'm also confused why this wouldn't be the same for the financing option. Either way, thanks for the info-- you're probably right but I'll also inquire with Rivian directly to see what they say.

I did check with a Rivian sales rep on this and it is indeed the Destination Fee of $1800. Rivian does not include this in the price of the vehicle until the purchasing process.

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[tjrivian]

Leases are great when not buying out the car at the end since that saves the sales tax on the residual.

This is highly state dependent though. Texas is the classic example of needing to pay the sales tax on the full price of the car at the time of lease. There may be others as well, so make sure you verify your state's tax rules before you pursue any leasing strategy.

 

[Electrified Outdoors]

This is highly state dependent though. Texas is the classic example of needing to pay the sales tax on the full price of the car at the time of lease. There may be others as well, so make sure you verify your state's tax rules before you pursue any leasing strategy.

This is the case in Maryland. Your taxed just like as if it was a purchase. You pay tax on the full purchase price (gross cap cost) of the vehicle. Then, when you trade it you get credit for towards the taxes on the new one. You have to trade it and both vehicles have to be part of the same transaction. So in other words if I trade the vehicle and new vehicle is 100k and trade is worth 60k I only pay tax on the difference of 40k.

Best to check with your CPA or tax person to determine the most beneficial course of action.

 

[Zorg]

This is highly state dependent though. Texas is the classic example of needing to pay the sales tax on the full price of the car at the time of lease. There may be others as well, so make sure you verify your state's tax rules before you pursue any leasing strategy.

True, true. My comment is CA specific.

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