The electric refresh deal in April is it legit?

[echo44]

So I am buying my Rivian tri- motor with the deal which includes 3k incentive for providing a trade in. I also then get the 7500 lease EV credit. So roughly 10k of incentives. Does anyone know the money factor or APR deal they are using on the lease? They did not provide me with the fine print in the lease just the basic numbers and payment for a 24 month lease. I gave Chat GPt the number which thought the APR might be hi 12%? Chat Gpt stated that many car companies do this where they bake in their profits after a deal by increasing APR. Just curious if anyone really has looked into this and Chat GPt is just not correct?
From Chat GPT

"

• Leasing companies can manipulate cap cost, residual, and money factor to make the monthly payment look attractive, while embedding profit in the lease structure.
• The advertised low APR might only apply to base models, or deals without incentives."

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[Mobilchuckje]

My guide gave me a ballpark on my payments based on what he's been seeing for the same terms, and the % figure for the residuals that he's been seeing.

If you haven't seen an actual sales agreement, with all the details, you haven't triggered the financing step yet. You will see a full sales agreement with your montly payment, residual, and all the taxes, fees, registration, etc.

 

[captainjp]

So I am buying my Rivian tri- motor with the deal which includes 3k incentive for providing a trade in. I also then get the 7500 lease EV credit. So roughly 10k of incentives. Does anyone know the money factor or APR deal they are using on the lease? They did not provide me with the fine print in the lease just the basic numbers and payment for a 24 month lease. I gave Chat GPt the number which thought the APR might be hi 12%? Chat Gpt stated that many car companies do this where they bake in their profits after a deal by increasing APR. Just curious if anyone really has looked into this and Chat GPt is just not correct?
From Chat GPT

"

• Leasing companies can manipulate cap cost, residual, and money factor to make the monthly payment look attractive, while embedding profit in the lease structure.
• The advertised low APR might only apply to base models, or deals without incentives."

Money factor is higher with 24 month lease as opposed to 36, I believe

 

[Zoidz]

It's common for leasing companies to give a "commission" to the seller (in any market - cars, equipment, etc.) which increases the seller's profit at the end of the deal. That's why they love leasing.

 

[No Gas]

In process for R1T Tri. Sales person explained that many people are leasing to get the 7500 incentive and as soon as the lease settles they are buying them directly. After lease expenses they said most of those are netting about 5K off. My forecast numbers don't look like that will happen, Have not seen the final numbers yet. It's difficult to tell at this point but if there is not a big enough difference then just buying will be my plan. Hope to know better in a week or two.

 

[echo44]

wow, I just received my copy of the lease apr=16% my credit rating is 835, so the deal is an illusion they just make the money back and more in the lease.

 

[strykerwsu]

wow, I just received my copy of the lease apr=16% my credit rating is 835, so the deal is an illusion they just make the money back and more in the lease.

Yes, you have to ensure can purchase outright instantly. Otherwise buy used.

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