Rivian R1T Leasing Now Available

[PhatDaddy]

I have and depending on your financial situation it can be a good thing or a bad thing.

Basically, you are renting the vehicle for a set amount of time. After the lease is over you have 1 of 2 options.....turn it in and pay whatever costs (over mileage) or purchase it.

With leasing, you won't get the tax credit (which I know Rivian is above the $80k threshold).

The difference between the $750/month and what we are paying is about $200 and we are buying ours.

I also have never leased but assume even though I would plan to purchase at end of lease, the following makes leasing a bad idea for me… right?
1. I need a full power tonneau cover… somehow (at delivery or post-delivery).
2. My use cases specifically call for a fair amount of (likely Rivian-fit only) custom add-ons (bed rack, gear tunnel camp kitchen, frunk water tank, etc.).
3. I plan to keep the vehicle at least 6-7 years (scary after warranty expires, but once customized, would feel like a waste not to get the use of it).
4. I have early pricing discount and pre-order agreement that gets me the full $7500 tax credit (although also requiring amended 2022 tax return).
Advice? Thanks.

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[edman007]

With leasing, you won't get the tax credit (which I know Rivian is above the $80k threshold).

Rivian gets the tax credit, and they take it off the top for the lease. That's why everyone is so excited about the lease. You can ONLY get the full tax credit if you lease and everyone gets it when leased, so if the residual is reasonable the cheapest method to buy is to lease it and then buy out the lease.

 

[Eric9610]

Rivian gets the tax credit, and they take it off the top for the lease. That's why everyone is so excited about the lease. You can ONLY get the full tax credit if you lease and everyone gets it when leased, so if the residual is reasonable the cheapest method to buy is to lease it and then buy out the lease.

Also on the lease they don't have a car / truck cap to stay under. That is why all the trucks qualify under the lease not just the ones under $80k. This will be the same eventually on the SUV.

 

[boostincincy]

I've been waiting for my 2022 Reservation for 18 months now, and working in Film, 2023 we've been out of work half of the year due to the strikes... so my financial situation has changed for the worse since placing the reservation. The Lease option is now extremely attractive as it's very little money out of pocket and a more attractive monthly payment. The big issue is I really wanted a Max Pack, and the lease only seems to be for Large Packs... with no straight forward answer when, if ever, Max Pack leases will be offered.

I also asked, if I could break my lease if a Max Pack became available, and start a new Max Pack lease, and the answer I received was "there are penalty fees yes, but you would have to ask Chase Bank what they are".

So not a lot of confidence for the few questions I had.

 

[Count Orlok]

TL/dr

what is the money factor?

 

[Riviot]

4. I have early pricing discount and pre-order agreement that gets me the full $7500 tax credit (although also requiring amended 2022 tax return).
Advice? Thanks.

You don't qualify for lease with that pre-order.

 

[Eric9610]

So my delivery is delayed due to car not local and glitch in system. Should be here in a week. Also I received the free charger offer but after submitting Rivian said leases don't qualify.

So no extra discounts. I suspect a lot of R1T units will move now that the CT info is out and sucks.

 

[sierraskier]

Has anyone figured out what the money factor or the residual amounts are?

 

[Eric9610]

Ok, residual is 61% and Interest rate is 4.1%. R1T QM 15k per year 36 months. Lower mileage means higher residual.

 

[smitty4240]

New to Rivian, just took delivery of a lease R1T Quad 2 days ago. Kinda crazy around my house but hoping to post some quick info that might help someone out there, as this forum (and thread) helped me:

- $94,550 cap cost
- cap cost reductions of $1000 (deposit) and $7500 (EV tax credit)
- cap cost after reductions $86,050
- residual $67,130.50 (2 year lease, 15k mi/yr)
- residual as a percentage of cap cost is 71%
- money factor 0.00242 (corresponding with a 5.81% interest rate, excellent credit)
- monthly lease payment of $1,159.01/mo ($0 down, 7% sales tax in GA)

Overall a great experience. It showed that leasing is new throughout the organization but my guide did a great job getting the info needed (his overall experience helped). I do wish they'd get more info to you sooner (numbers), but it's something they're aware of and claim to be internally addressing. I didn't help matters by trying to move quickly through the process, a combination of my personality, anxiety over not being sure where the EV cap cost reduction credit cutoff is (still don't know: signing of initial lease docs? Delivery?), and the exact build I wanted popping up in inventory (complete with factory PPF). So if I had allowed the process to run at the guide's speed maybe he would've gotten info to me in order (I might've missed out on the credit and my build too though).

Comfortable with my decision to lease this go around. Not usually my style, but the combination of the EV tax credit/reduction, not knowing where the heck the value for this truck will be in 2-3 years, and wanting to watch what happens with the quad motor/max pack possibility all lead me here. Happy with my choice so far! I'll post pics in the relevant thread once we get past Christmas and I get it cleaned up!

 

[Coco135]

my actual MSRP was 95,100 but given a discount to 90,800 (didn't got charge for 20 AT wheels 2500 and ppf 1800)
here is my contract 800+ credit

 

[djsider2]

my actual MSRP was 95,100 but given a discount to 90,800 (didn't got charge for 20 AT wheels 2500 and ppf 1800)
here is my contract 800+ credit

Is Rent Cost the "interest" ?

 

[jakz]

New to Rivian, just took delivery of a lease R1T Quad 2 days ago. Kinda crazy around my house but hoping to post some quick info that might help someone out there, as this forum (and thread) helped me:

- $94,550 cap cost
- cap cost reductions of $1000 (deposit) and $7500 (EV tax credit)
- cap cost after reductions $86,050
- residual $67,130.50 (2 year lease, 15k mi/yr)
- residual as a percentage of cap cost is 71%
- money factor 0.00242 (corresponding with a 5.81% interest rate, excellent credit)
- monthly lease payment of $1,159.01/mo ($0 down, 7% sales tax in GA)

Overall a great experience. It showed that leasing is new throughout the organization but my guide did a great job getting the info needed (his overall experience helped). I do wish they'd get more info to you sooner (numbers), but it's something they're aware of and claim to be internally addressing. I didn't help matters by trying to move quickly through the process, a combination of my personality, anxiety over not being sure where the EV cap cost reduction credit cutoff is (still don't know: signing of initial lease docs? Delivery?), and the exact build I wanted popping up in inventory (complete with factory PPF). So if I had allowed the process to run at the guide's speed maybe he would've gotten info to me in order (I might've missed out on the credit and my build too though).

Comfortable with my decision to lease this go around. Not usually my style, but the combination of the EV tax credit/reduction, not knowing where the heck the value for this truck will be in 2-3 years, and wanting to watch what happens with the quad motor/max pack possibility all lead me here. Happy with my choice so far! I'll post pics in the relevant thread once we get past Christmas and I get it cleaned up!

Sorry I guess I might be missing something here but how are you calculating the money factor here?

(1159.01*24)/(86050+67130.50)*24 = 0.007195

Also, any way to add additional options (such as the crossbars)?

 

[smitty4240]

I found a simple formula on a consumer advocate site (Clark.com?). Worked the numbers until I deduced it from the payment. I bought gear (crossbars, tonneau cover, etc) off of Marketplace from people selling. Pretty sure you can buy stuff directly from the service center if you want though. I did order the all-weather mats and those were delivered directly to me.

 

[timeslip]

my actual MSRP was 95,100 but given a discount to 90,800 (didn't got charge for 20 AT wheels 2500 and ppf 1800)
here is my contract 800+ credit

Why did they give you the 20AT wheels and PPF? Just forget to charge or something happen?

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