RiT - lease return questions

[Cmdr A]

Hello,
When did Rivian start leasing the R1T? Were most of them for 3 years? Do we anticipate that residuals and/or warranty terms will entice people to keep them or return them?
I'm interested in eventually getting an R1T Dual Max. It looks like that combination was offered on again / off again. I'm interested in RV'ing, camping, and skiing in the winter. I suspect I won't be buying until next year.
Thanks in advance for any insights.

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[Rade]

Good morning. I initially leased my 2025 R1T. During the configuration process, I was able to both trade in my 2019 Nissan Frontier and qualify for a lease, and my lease was managed by JPMC.

Of note: I went into the process being preconditioned by years of dealership games at the time of purchase. This was my first experience with configuring, ordering, trading and financing through an online portal. To me, it was disconcerting because the general flow of communications were far and few between. You get - "Your order has been received", "Your lease is approved", "Your trade in value is X", a couple weeks later, "Your R1T moved from configuration to build". Then a LOOOOOONG stretch with nothing. Then (a week before delivery), "Prepare for delivery!", "eSign your leasing agreement", "Upload photos of your trade"(they tell you what photos you need to take). "What date do you want to take delivery?" . The online checklist through the Rivian portal was great! All in all, on hindsight, it was painless and did not have any hidden "gotcha!"s. I kept waiting for some shoe to drop, but NOPE! It was painless!

All in all, it was about 12 weeks from configuration to delivery. In the ballpark for that they said it would be.

Good luck!

 

[beatle]

Leases started November 2023. My 3 year lease started the end of June 2024. As it stands, the residual will be higher than the street price. I wasn't planning to buy anyway though.

EV leases in general will be coming out in force late this year. Depending on what happens with gas prices, the glut of supply should make for some decent deals.

 

[Jim_in_GA]

I got a "golden lease" according to everyone I spoke with to include Rivian, who tried to entice me in upgrading to a 2026 Quad. My lease is approaching the two year mark, in about a week. $319 per month, 15k miles a year, for three years. I traded in a 2019 Raptor, and hit the iron when it was red hot in early 2023 with all sorts of incentives. With those incentives Rivian actually gave me KBB private sale value on my Raptor. I also scored one year of free RAN charging which I utilized as much as I possibly could have. My R1T is the Quad, adventure model, Midnight Back, Forest Green interior. It was the last of its kind east of the Mississippi when I pulled the trigger. Had tonneau installed about six months after picking the truck up in Atlanta. According to the good old Gemini I am at the sweet spot right now if I wanted to buy but it is strongly advising me not to. Residual will be around $55k and I doubt very seriously it will be lower than used market but I shall see. My plan is to extend the lease by six months to milk every bit of value I can out of it. Truck has been an absolute blast and I love it, even with the early quirks and long distance to Service Center, originally in Atlanta but now half the distance to just outside Charleston, SC. All in all I will say the current experience is 90% positive, 5% neutral, and 5% negative. I was just notified by Rivian that my 12V is ready to be replaced (again), 2x time since taking lease. But mobile tech will do it for free. Holler if you want to discuss but like I said my lease is the exception and not the rule.

 

[Billyt1963]

I leased my R1T Quad in March of '24. The process was ok, but far from smooth. First time ever leasing a vehicle, but thought it was best with an EV due to how fast the industry is moving. Lease is up next year and with how much the vehicle is worth on KBB/NADA and other used car sites and the residual value, I will more than likely turn it in. It has been a good experience with the Rivian vehicle, good mobile service options, what service has been done was as good as a traditional dealer.

I may extend 6 months, but that would cause me to buy another tag and probably have to get new tires. Will see in March '27.

 

[Cmdr A]

Leases started November 2023. My 3 year lease started the end of June 2024. As it stands, the residual will be higher than the street price. I wasn't planning to buy anyway though.

EV leases in general will be coming out in force late this year. Depending on what happens with gas prices, the glut of supply should make for some decent deals.

That's very helpful. I appreciate learning about everyone's lease experience. My first EV was a Chevy Bolt, which we leased for the same reason of quickly changing technology. I just know that I will be putting on more than 15k miles per year, so I think buying is more realistic for me.

Now I know when to start looking - November 2026. Were all the motor options available for lease? I would be very happy with the Dual Motor configuration, don't need the Performance Dual Motor or the Quad Motor. More important to me is to find a Max battery! Let's see what pops up!

 

[beatle]

I'm not sure what was being leased back in November, but there were all kinds in June. They had an additional discount for max pack trucks, probably because they hadn't sold. The max pack arrived in October 2023 and many felt it wasn't worth the price increase. I was one of those people, though I ended up getting one anyway due to the discounts later. I think it's plausible that there may be some 3 year old max pack lease returns in November, but maybe not that many. The bump in range is pretty slight.

 

[mclark2112]

I got a good lease deal in March of 2024, $849/month (that included a small amount owed on my Model Y) for my R1S Quad. It was 2 years/15k miles. The residual was stupid high, $73k, so I turned it in. I was also way over the miles and had to write a check for $2500. But that was still way higher than the used market value. I opted not to extend the lease and hope to grab an R2 this year.

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