Status change to lurker

[Billyt1963]

Not that anyone cares, but I will be less active. My lease/purchase of a Rivian fell through at the last minute due to undisclosed payment amount on the lease. If anyone wants more info, I will type it out.

This is a very knowledgeable and friendly group. I am sorry that I was not able to join the Rivian family.

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[jjswan33]

Sharing your experience and details of a fee that surprised you may help other people in your situation. Otherwise I don't understand the point of this thread. Either way best of luck to you.

 

[Billyt1963]

Sharing your experience and details of a fee that surprised you may help other people in your situation. Otherwise I don't understand the point of this thread. Either way best of luck to you.

Yeah, I kind of thought that after posting.

i has 4 different VINs in my short time of trying to purchase a truck. The next to last one never left CA after a week of telling me it would be here “soon”.

i pivoted to a lease of a 2023. Everything was going along fine and got to the payment due at signing. The financial email had one payment and when I went to make the payment it was $10,000 higher.

i said either take it off or I will cancel. I cancelled.

Sorry to waste everyone’s time.

 

[Simplejack]

Lose the $1k deposit?

 

[Billyt1963]

Lose the $1k deposit?

My guide said he would make sure I got it back. I will know 5-10 business days.

Edit: It is already back on my card.

 

[SoCal Rob]

Yeah, I kind of thought that after posting.

i has 4 different VINs in my short time of trying to purchase a truck. The next to last one never left CA after a week of telling me it would be here “soon”.

i pivoted to a lease of a 2023. Everything was going along fine and got to the payment due at signing. The financial email had one payment and when I went to make the payment it was $10,000 higher.

i said either take it off or I will cancel. I cancelled.

Sorry to waste everyone’s time.

I don’t think you’re wasting anyone’s time given the $10,000 discrepancy! Did anyone at Rivian provide you with an explanation of any sort? I’ve never leased a vehicle so I don’t understand how the process is supposed to work versus how Rivian did it. Adding cost last-minute doesn’t seem like the path to a happy customer, no matter how they are paying: cash purchase, financed purchase, or lease.

Sorry to hear that this happened to you.

 

[virgnia_rivian]

There are some details missing here or you didn't read the fine print of the lease terms. This is typical with all manufacturers. They advertise a lease price, for example Rivian is currently advertising $559/mo for an R1, but there's fine print. (See below) The total due at signing will also depend on your configuration/vehicle cost, lease term & mileage. With leases it's typically better to have a higher monthly payment and less out of pocket. That's one of the benefits of a lease.

"Very well qualified lessees who take delivery on or before 4/30/2024 can lease a new MY2024 Rivian R1T Standard Adventure Package for 36 months with 30,000 total miles for $559 per month. To obtain a payment of $559 per month, vehicle pricing before dealer options must total $71,700 comprised of the following vehicle selections: Dual Motor AWD, 21” wheels, LA Silver paint, Black Mountain interior ($69,900) + destination fee ($1,800).

$7,454 DUE AT SIGNING. Cash due at signing includes $6,000 capitalized cost reduction (includes $1,000 deposit), $559 first monthly payment, $895 acquisition fee, and $0 security deposit. Tax, title, license, registration, and lessor documentation fees are additional fees due at signing. Not all customers will qualify for security deposit waiver. Offer includes upfront capitalized cost reduction of $7,500 provided by the lessor. Vehicle availability is limited, and lease offer is contingent on vehicle availability. End of lease charges include: excess vehicle wear, 30 cents per mile for excess mileage, and $495 disposition fee. Lease offer is only available in the following states: AL, AZ, CA, CO, FL, GA, IL, MA, MI, MO, MS, MT, NC, ND, NE, NJ, NY, NV, OH, OR, PA, SD, TN, TX, VT, WA. All offers are subject to credit approval, vehicle availability, priority for delivery, and are subject to change at any time."

 

[Billyt1963]

There are some details missing here or you didn't read the fine print of the lease terms. This is typical with all manufacturers. They advertise a lease price, for example Rivian is currently advertising $559/mo for an R1, but there's fine print. (See below) The total due at signing will also depend on your configuration/vehicle cost, lease term & mileage. With leases it's typically better to have a higher monthly payment and less out of pocket. That's one of the benefits of a lease.

"Very well qualified lessees who take delivery on or before 4/30/2024 can lease a new MY2024 Rivian R1T Standard Adventure Package for 36 months with 30,000 total miles for $559 per month. To obtain a payment of $559 per month, vehicle pricing before dealer options must total $71,700 comprised of the following vehicle selections: Dual Motor AWD, 21” wheels, LA Silver paint, Black Mountain interior ($69,900) + destination fee ($1,800).

$7,454 DUE AT SIGNING. Cash due at signing includes $6,000 capitalized cost reduction (includes $1,000 deposit), $559 first monthly payment, $895 acquisition fee, and $0 security deposit. Tax, title, license, registration, and lessor documentation fees are additional fees due at signing. Not all customers will qualify for security deposit waiver. Offer includes upfront capitalized cost reduction of $7,500 provided by the lessor. Vehicle availability is limited, and lease offer is contingent on vehicle availability. End of lease charges include: excess vehicle wear, 30 cents per mile for excess mileage, and $495 disposition fee. Lease offer is only available in the following states: AL, AZ, CA, CO, FL, GA, IL, MA, MI, MO, MS, MT, NC, ND, NE, NJ, NY, NV, OH, OR, PA, SD, TN, TX, VT, WA. All offers are subject to credit approval, vehicle availability, priority for delivery, and are subject to change at any time."

The email I received from Rivian laid it out plainly that I would pay $2825.50 up front, when I went to pay it had $12825.50. When I clicked on the information i by the amount It showed $2825.50. The explanation I got was I had been trading in a truck and since I wasn’t doing that I had to put down $10,000.
I was financing the truck due to Rivian stupid rule of paying before pickup. I was going to use the loan to not do that and I was going to pay the loan off probably in the first month.

 

[Billyt1963]

Just to show I wasn't crazy or not reading, this is the page I saw from Rivian when it said my finances were approved:

This is pretty plain what I owe. I wish I had gotten a screen capture of the page that showed higher.

 

[UnsungZero_OldTimeAdMan]

The email I received from Rivian laid it out plainly that I would pay $2825.50 up front, when I went to pay it had $12825.50. When I clicked on the information i by the amount It showed $2825.50. The explanation I got was I had been trading in a truck and since I wasn’t doing that I had to put down $10,000.
I was financing the truck due to Rivian stupid rule of paying before pickup. I was going to use the loan to not do that and I was going to pay the loan off probably in the first month.

Uh... that still doesn't sound like Rivian's fault. You assumed/planned to trade, then changed your mind. You're renting/leasing a car from Rivian. They're not just going to go "oh, ok. forget the value of the trade-in we were expecting then". Try and rent a home or office space without meeting the financial terms fully.

 

[Billyt1963]

Uh... that still doesn't sound like Rivian's fault. You assumed/planned to trade, then changed your mind. You're renting/leasing a car from Rivian. They're not just going to go "oh, ok. forget the value of the trade-in we were expecting then". Try and rent a home or office space without meeting the financial terms fully.

I was in the process to purchase a truck, for a week and a half they said it is almost here. I then found out it was still sitting in CA. I switched trucks to a 2023 and a lease. I put 0 down payment. Why is it my fault that they unilaterally decided since I was going to trade for a purchase, but not for a lease I owed 10k more?

 

[sfvR1S]

Lease price/incentives aren't the same for purchases and vice versa. It's not just a Rivian thing.

99% of these "Rivian screwed me" posts could've been avoided if people read the fine print or understood how things work.

 

[SoCal Rob]

I was in the process to purchase a truck, for a week and a half they said it is almost here. I then found out it was still sitting in CA. I switched trucks to a 2023 and a lease. I put 0 down payment. Why is it my fault that they unilaterally decided since I was going to trade for a purchase, but not for a lease I owed 10k more?

So did you trade (or switch)from a lease to a purchase or from a purchase to a lease?

Many of us assume that the word, “trade,” when discussing a vehicle acquisition of any kind means that we are including a trade-in vehicle we already owned. I don’t think you mean that.

If you went from a lease to a purchase then it’s immediately going to be $7,500 more because there is no $7,500 reduction outside of leasing. There could be a $3,750 federal tax credit (I think that’s the right term and the max amount still available) but that’s what you would get when filing or amending taxes if the vehicle price qualifies and if your tax burden allows.

There could be another $2,500 of state or local incentives which only apply to a lease, too, and that would come out to an even $10,000.

There’s a lot of assumption in there so please forgive me if I misunderstood and/or assumed incorrectly.

 

[RandomMcRandomFace]

Is there more below the line in your image? I am confused.

 

[Billyt1963]

So did you trade (or switch)from a lease to a purchase or from a purchase to a lease?

Many of us assume that the word, “trade,” when discussing a vehicle acquisition of any kind means that we are including a trade-in vehicle we already owned. I don’t think you mean that.

If you went from a lease to a purchase then it’s immediately going to be $7,500 more because there is no $7,500 reduction outside of leasing. There could be a $3,750 federal tax credit (I think that’s the right term and the max amount still available) but that’s what you would get when filing or amending taxes if the vehicle price qualifies and if your tax burden allows.

There could be another $2,500 of state or local incentives which only apply to a lease, too, and that would come out to an even $10,000.

There’s a lot of assumption in there so please forgive me if I misunderstood and/or assumed incorrectly.

No problem on misunderstanding, it is hard to get all the information out in this format.

i was purchasing a truck with a trade. That fell through and I switched to a lease with no trade.

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