Rivian Lease Buyout Guide: Comprehensive Slide Deck

[DD4ST]

I should have also mentioned that a lease limits customization to the vehicle. At a minimum anything you change on the vehicle you don’t recoup costs unless you buy the vehicle. At the worst, the lease company would require removal and restoration to factory. This is an intangible part of deciding whether to buy the vehicle that can’t be captured easily in a spreadsheet.

Sponsored

 

[JonKohler]

I should have also mentioned that a lease limits customization to the vehicle. At a minimum anything you change on the vehicle you don’t recoup costs unless you buy the vehicle. At the worst, the lease company would require removal and restoration to factory. This is an intangible part of deciding whether to buy the vehicle that can’t be captured easily in a spreadsheet.

Sure, and thats more about whether to lease or not. This is more of an artifact to talk about on how to optimize purchase

 

[JonKohler]

Update 25 August 2025
Updated slide deck, change log:

• 25 August 2025:
  • Updated Current Combinable Offers slide with the latest table
  • Updated Endless Adventure Bonus slide to reflect the addition of 2026 Tri
  • Updated Lease Buyout Spreadsheet and Added Lease Helper Spreadsheet Changelog to note recent improvements (which is now a more generic “Lease Helper”!)
  • Rebased all examples with the latest calculator output, and dropped trade-in estimate to make it more generic
  • Added a bit explaining Gear Shop points

 

[Sempervirens]

I really enjoyed reviewing your documents and analysis (I also shared this with coworkers who may want to get into a Rivian)

I was not able to make it make sense for myself.

In my own case I have 7500 + 9500 in incentives + 1000 referral for accessories + 59k trade in ('23 Quad R1S @ 15,000mi). My target vehicle is the Dual Max Batt with 'forced' performance.

The delta is $30k which equates to the depreciation, such is life, no free lunches (or R1 upgrades).

But I will reiterate what an awesome tool and model you built, so thanks.

 

[DD4ST]

Sure, and thats more about whether to lease or not. This is more of an artifact to talk about on how to optimize purchase

This is absolutely on topic to the buy out now or later debate. People that haven’t leased before may not realize this and need to fit this in their decision. In my own case I leased because it makes the most sense economically. But I don’t intend to highly modify with accessories, changing tires, etc. for someone that is planning to personalize their vehicle this might pull hem to buy it now even if the economic math says wait.

 

[JonKohler]

This is absolutely on topic to the buy out now or later debate. People that haven’t leased before may not realize this and need to fit this in their decision. In my own case I leased because it makes the most sense economically. But I don’t intend to highly modify with accessories, changing tires, etc. for someone that is planning to personalize their vehicle this might pull hem to buy it now even if the economic math says wait.

Ah yes, fair enough. I don't disagree with you. That is a valid use case, of you lease with the //intent// to buyout, and then say "oh I just want to ride the lease" instead. I'm positive that happens for all sorts of reasons.

I think the common ground between what we're both saying is "You should understand //all// of the implications of a lease when entering into a contract", which includes both financials as well as modifications (and I'm sure others). Is that fair?

 

[Zorg]

I am tempted by the R1S lease offers. However, should we decide to switch to a R2S next year (a possibility) how do we feel about the then residual value vs. trade in value?

 

[JonKohler]

I am tempted by the R1S lease offers. However, should we decide to switch to a R2S next year (a possibility) how do we feel about the then residual value vs. trade in value?

As a general statement, the first-year depreciation is always going to be a bath on new vehicles

 

[Zorg]

True, but with $14k in incentives, $95k becomes $81k capitalized. That makes the residual around $75kk a year from now, right?

 

[nyckkr]

It may vary by state - the loss of trade-in tax offset benefit due to the low limit on how much trade-in equity is applied to a 2 year or 3 year lease eats away a significant / substantial portion of the $7500 federal benefit

It is particularly problematic for the Dual trims where the limits are very low.

 

[1pinhigh]

Love this discussion and all of the great comments and data. Unfortunately, it all frustrates me as Kansas is a state where you can't lease a Rivian yet! I've got a 2022 R1T that I'd love to replace with a new R1S, just can't consider a lease. The purchase option isn't a great option given the relatively low trade in values for my truck, even though relatively low mileage, 29K.

Keep up the great work and all of the comments.

 

[NeedSumCoffee]

Thank you for putting this together!

Just as a FYI, some banks like USAA will let you apply for a New Car loan to buy out leases, as long as it is a 2025 or 2026 model (even if technically used). You can still get the lower APR of a new car loan. Really it is no different than if you planned on getting a loan to purchase from the beginning, just with a $7-8k savings.

 

[JonKohler]

Thank you for putting this together!

Just as a FYI, some banks like USAA will let you apply for a New Car loan to buy out leases, as long as it is a 2025 or 2026 model (even if technically used). You can still get the lower APR of a new car loan. Really it is no different than if you planned on getting a loan to purchase from the beginning, just with a $7-8k savings.

bingo! Good callout though about USAA, I've heard good things

 

[B_Wagon136]

I feel dumb for asking this, but is the $7,500 EV credit already factored into the price that Rivian lists on its lease deals?

I am looking at a $79,990 dual standard R1S that qualifies for the $6,500 Endless Adventure lease bonus. That particular bonus shows up in the payment estimator (-$6,500) but when I calculate Est. due at signing , plus monthly payments x35 (first mo already down), plus residual value, I come out to $84,356 (without taxes) for a model that is priced at $79,990 and supposed to have a $7,500 EV credit and $6,500 lease credit. If those $14,000 in incentives get the price down to $65,990 (plus tax) then I would be in the market for a new lease/immediate buyout, but if thats not how it works then I am likely relegated to used.

 

[JonKohler]

I feel dumb for asking this, but is the $7,500 EV credit already factored into the price that Rivian lists on its lease deals?

I am looking at a $79,990 dual standard R1S that qualifies for the $6,500 Endless Adventure lease bonus. That particular bonus shows up in the payment estimator (-$6,500) but when I calculate Est. due at signing , plus monthly payments x35 (first mo already down), plus residual value, I come out to $84,356 (without taxes) for a model that is priced at $79,990 and supposed to have a $7,500 EV credit and $6,500 lease credit. If those $14,000 in incentives get the price down to $65,990 (plus tax) then I would be in the market for a new lease/immediate buyout, but if thats not how it works then I am likely relegated to used.

Don't feel dumb for asking, that's what the community is here for, to help and bounce ideas around

I took this exact config, which I think is same/close to what you pictured:
https://rivian.com/configurations/i...27842cf6877a41353774ee/build?postalCode=92660

Then you have to make sure you click the "taxes and fees" slider.

I worked it up in my calculator, specifically for your config (here is a copy just for your specific numbers), see here in this hyperlink

The key numbers ... let's talk all inclusive cash out the door vs price + tax/fees/etc, as thats what hits your bank account!

1. If you straight up buy it with a bag of cash, with taxes/fees, you've got ~89k out the door. Sanity check me here by comparing the "Loan" amount in the payment estimator, it has ~88701 "financed", which is ~89k minus the 500 deposit amount.
2. If you lease + buyout, with taxes/fees/etc, your cash out the door is ~78k
3. that means you save ~11k roughly with lease + buyout, a ~13.5% discount. Some of the 14k incentives get washed out by a portion of first months rent charge + lease acqusition fee, etc, but you get to capture a significant material discount on this asset!

Sponsored