Used R1T Prices / Trade Value Declines

[Ecupip]

There are hundreds of new R1Ts in the R1 shop at any moment and usually maybe a half dozen R1Ss.

R1Ts are plentiful.

I wasn’t talking new. Used R1’s are dwindling. Cars.com has about 80 used R1T’s now. A few months ago it was over double that.

Sponsored

 

[Stevetom84]

I wasn’t talking new. Used R1’s are dwindling. Cars.com has about 80 used R1T’s now. A few months ago it was over double that.

My guess is the asking price was a bit to high with new R1Ts readily available and used prices have worked their way down into the 70s. At that point it’s a viable option to save a decent amount of money when compared to new. I recently bought a used R1T that had everything I wanted and more for mid-70. If it was in the 80s I would have likely passed and gone to new.

I guess what will be interesting is if the used market dries up, do used prices inch back up. Only time will tell.

 

[defcon888]

$68,081 that still seems absurdly low.

That doesn't surprise me at all. We bought a Volvo XC40 Recharge last year when people were trying to get EV's. We paid $60k for it in June of 2022. We sold it back to the dealer to get ready for the R1T.....we took a $20k hit on it.

We also have a 2021 RAV4 Prime and we were thinking of trading it for a Tacoma truck. We bought it brand new in 2021 for $50k out the door and last year with 18,000 miles on it, they were going to give us $53k.........$4k more than we bought it for. Now, that same vehicle is around $35k......EVs/Hybrids are taking a hit. I think people are worried about the charging infrastructure and I also think the lack of education on charging and the types of connectors (J-1772, CCS1, ChadMo, Tesla) and the charge times is shying people off of EVs.

Now that NACS is going to be the standard and if they can get the charging times to under 15 mins. for a 70% charge, I think EVs will decrease in price but become more common.

 

[Better Late than Never]

Ecupip said:
The only thing keeping used R1T and R1S prices high is the lack of inventory.....and that says a lot. That means strong demand for used ones and people are happy with their purchases. If inventory grows, resale on used Rivian's will fall quickly

There are hundreds of new R1Ts in the R1 shop at any moment and usually maybe a half dozen R1Ss.

R1Ts are plentiful.

I think the statement is accurate given that the market is set by the public and right now, we don't have access to a lot of Rivian product. Who has access to the shop? Only people who are granted access by Rivian, so they still control the supply and, if they're sitting on hundreds, then they are artificially throttling the supply back. Or "hundreds" isn't really a significant number if you;re considering there are 20K+ Rivian Vehicles on the roads.

Or the secret is there isn't a lot of demand for a $75K pickup truck regardless of how luxury it might be. I think demand will slow a lot as all the fanboys, myself included, have gotten their trucks and no one else wants to or can spend $80K on an pickup or SUV. especially one with manual seat adjustment in the second row, but that's another argument for another thread.

(edited - deleted an accidental unrelated comment and I included the "accurate" statement to which I was referring)

 

[SamDoe1]

Ecupip said:
The only thing keeping used R1T and R1S prices high is the lack of inventory.....and that says a lot. That means strong demand for used ones and people are happy with their purchases. If inventory grows, resale on used Rivian's will fall quickly



I think the statement is accurate given that the market is set by the public and right now, we don't have access to a lot of Rivian product. Who has access to the shop? Only people who are granted access by Rivian, so they still control the supply and, if they're sitting on hundreds, then they are artificially throttling the supply back. Or "hundreds" isn't really a significant number if you;re considering there are 20K+ Rivian Vehicles on the roads.

Or the secret is there isn't a lot of demand for a $75K pickup truck regardless of how luxury it might be. I think demand will slow a lot as all the fanboys, myself included, have gotten their trucks and no one else wants to or can spend $80K on an pickup or SUV. especially one with manual seat adjustment in the second row, but that's another argument for another thread.

(edited - deleted an accidental unrelated comment and I included the "accurate" statement to which I was referring)

1.) Rivian isn't in a position to control the supply and inflate used values. They need to sell trucks and SUVs to make money, they don't make anything off the used market so there's no chance they are artificially throttling supply.

2.) There are TONS of trucks on the market that out price the Rivian, even gas models. F150's and Rams easily go into the 80's and the TRX/Raptors are into the six figures. Not to mention many SUV's that are the same or more expensive (X5, X7, GLE, GLS) than the R1S. The issue is that interest rates are sky high and people are pulling back as a result. Sales of all of the high priced cars and trucks are dwindling because debt is no longer cheap and most people don't have that kind of cash on hand.

 

[voxel]

I think the statement is accurate given that the market is set by the public and right now, we don't have access to a lot of Rivian product. Who has access to the shop? Only people who are granted access by Rivian, so they still control the supply and, if they're sitting on hundreds, then they are artificially throttling the supply back. Or "hundreds" isn't really a significant number if you;re considering there are 20K+ Rivian Vehicles on the roads.

Submit a new R1T order and you can configure it immediately or get access to the T shop. I bet you can get a R1T within 3-4 weeks max. Rivian does not have a truck supply issue... in fact it is the opposite. My backup order got access to the trucks months before R1S shop access.

R1Ses are much harder to purchase.

 

[Whataboykie!]

You know the buyer pays another 4.5% on top of that right? So if the dealer could expect to make a similar sale, how much profit should they deserve to make?

Then add sales tax and registration and you're at $100K in a hurry.
Best order one from Rivian and hope to get it soon. At least you'll get what you ordered.

 

[swazi]

I am seeing a big discrepancy between KBB and JD Power NADA values. I believe KBB to be closer to reality.
Anybody with experience: Is this discrepancy normal or is the R1T an outlier? I see JD Power show their data is from 74 transactions, which I would consider insufficient.

 

[Buckets0fun]

The only curve ball I see in this logic could be repair reputation as we near end of warranty. If it looks like these are going to be prohibitively expensive to own post warranty, they might take a pretty big hit as approaching end of warranty. On other hand if all that seems smooth sailing and people don't fear long term ownership, then maybe they hold decently as BEV adopters want in at lower price points than new.

They absolutely are prohibitively expensive to own outside of warranty. From the service hourly rate being on part with exotic dealerships to the Bentley/RR level complication with suspension, electronics, and a pack that requires as much work as a 6.0 Ford F series truck to get at the access/service ports. ‍


it’s a novel toy, much like the first tesla roadster. Except for the fact that you could buy parts for your tesla roadster when it was new.

 

[Buckets0fun]

Yes I was thinking about this too, at or above 50-60k miles I think there will be a big drop off in price. Especially with the suspension system, post warranty I could see that being quite expensive to maintain if things go wrong.

Suspension system can be maintained by most mclaren indy shops, they have experience changing accumulators and repressurizing the system.

it’s typical Monroe/Tenneco CVSA2 units on each corner.

 

[ghanvass]

I didn't. I paid $84k in Feb for it with 600 miles on the odometer. I thought that was fine since it would have cost me $87k plus to order one and wait (I am in WI, we don't even have a service center). And what about people that did buy new at the post increase pricing? Would you say that is still reasonable?

Let me be clear though...

I felt the that the $66k offer was pretty much insulting. $71.2k is almost fair and would be an offer I would accept. That's a pretty large difference between the two though.

So are you the second owner? Wonder how much of an impact that has on value.

 

[Kunzene]

I am seeing a big discrepancy between KBB and JD Power NADA values. I believe KBB to be closer to reality.
Anybody with experience: Is this discrepancy normal or is the R1T an outlier? I see JD Power show their data is from 74 transactions, which I would consider insufficient.

Rivian offered me $61k for my R1T as a trade-in last week…

Sponsored