Used R1T's

[bc81620]

Anyone have any thoughts on the amount of used R1T's showing up online? Seems to be a lot of 2022's with less than 20k on the odometer and in great shape. However, those people are likely taking a good $35k+ haircut over just 1-2 years.

Anyone want to speculate why those people would be selling?

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[jjswan33]

Most probably are not taking that big of a loss. I got my 2022 QM for ~$80k and was eligible for a full $7500 tax credit. Going rate for a 2022 R1T seems to be around $60k with those types of mileages.

Assuming I only had 20k miles and sold for $60k then I am losing max $12k and put 20k miles on it so wouldn't necessarily feel bad about that

If I were to speculate many of those folks probably just want a Gen 2 model.

 

[Electrified Outdoors]

Anyone have any thoughts on the amount of used R1T's showing up online? Seems to be a lot of 2022's with less than 20k on the odometer and in great shape. However, those people are likely taking a good $35k+ haircut over just 1-2 years.

Anyone want to speculate why those people would be selling?

They got the tax credit and pre price hike pricing. They also drove it for two years so probably minimal loss and they want something else.

Also could be their situation changed and the car doesn't work out for them anymore.

Hard to say but 2-3 years we will start seeing more used examples come on the market.

Just as an example if I paid 75k for a T and got the federal incentive of 7500 then the net cost is 67,500 and some states have generous incentives as well. So if I put on. 20k mi and could get 60k or even 57,500 then it only cost me $7,500 to $10,000 to drive it for two years and 20k mi. At 10k that's only a little over 13%.

On my situation it would be closer to 30% since I bought my T used with 200 miles on it for 85k. I plan to hang on to it for at least 3 years unless something changes.

 

[SwampNut]

Anyone want to speculate why those people would be selling?

I bought mine from a couple who had determined that tent camping off the R1T was slight too much roughing it, and got a 4WD converted Sprinter for glamping. I got the truck because I wanted to tow our travel trailer.

It's an LE with a ton of extras and was $64k, perfect condition.

 

[R.I.P.]

Many of the "newest thing" croud bought R1's.

They are no longer the newest thing, so they get dumped as the next cool thing comes along.

In my case, a newer and bigger thing came along; the Sierra Denali EV. I hate to think of myself as a "newest thing" person, I had intended to keep the R1 longer, but spending a week with the RST EV badly knocked the shine off the Rivian for me.

C'est la vie.

 

[downranger12]

Most probably are not taking that big of a loss. I got my 2022 QM for ~$80k and was eligible for a full $7500 tax credit. Going rate for a 2022 R1T seems to be around $60k with those types of mileages.

Assuming I only had 20k miles and sold for $60k then I am losing max $12k and put 20k miles on it so wouldn't necessarily feel bad about that

If I were to speculate many of those folks probably just want a Gen 2 model.

Lookng at it another way from my own experience. My Nissan Frontier, 268K, gets 16.8 ave mpg. My operating costs driving my Red Canyon R1T are 9000 dollars less over two years. Those savings are in your hand as you go, and can be invested while you wait for the urge to trade again. .
According to the infallible internet, a mid size pickup depreciates 15,000 over two years which must be added to the 9000 that I have already spent.
The last wholeale offer I had on my very well maintained 2013 Pro 4X was 4000k. Worth more than that to me if my R1T ever needs collision repair.

 

[Riviot]

Assuming I only had 20k miles and sold for $60k then I am losing max $12k and put 20k miles on it so wouldn't necessarily feel bad about that

Sometimes I look at the odometer and go "Jesus, almost 50k?!"

Then I look at my photo albums and remember some incredibly fun trips or the calendar of upcoming trips, and forget all about "residual value." We're running ? till the end!

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