Used Rivian Postings

[Boring Boy]

I’m seeing quite a plethora of used Rivian’s for sale.

Constructively, I’m wondering why so many after the product being released so recently?

20k in savings and I can pick one up with less than 7k miles on it

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[carsly]

Company has four quarters of cash in the bank after adjusting for working capital. I'd like to see them make it, but odds aren't good. No one wants to be left holding the bag on a EV with no service centers or software updates. So some of those who math have opted to sell now as prices could fall precipitously in the next 60-120 days.

 

[Boring Boy]

That’s really constructive feedback. Thank you.

I love the idea for work. It would be my work truck, but I hesitate for these very reasons.

Seems there’s a lot of talk of someone like Apple buying out the company - they would have the cash flow to obviously overcome this crucial stage.

Wicked truck - hope to see it prevail.

 

[COdogman]

Probably multiple reasons. Some are not ready for EV life. Some probably had issues with their vehicles and realized it's different than going to a dealer. Others probably were waiting for some other vehicle when their Rivian order came up so they took delivery. Plus higher end vehicles depreciate like boat anchors.

You get to benefit from their decision to trade it in!

 

[Boring Boy]

Company has four quarters of cash in the bank after adjusting for working capital. I'd like to see them make it, but odds aren't good. No one wants to be left holding the bag on a EV with no service centers or software updates. So some of those who math have opted to sell now as prices could fall precipitously in the next 60-120 days.

Elon was in the same boat with Tesla…

Maybe it will come back around.

 

[carsly]

I'd never bet on the "Because ___ has the cash they should buy [insert struggling company name here]."

Why?

Because if ____ had any intent to purchase Rivian they would have already done so. By the time it's a distress sale you've already lost most of the staff, the rest are disenfranchised and market perception has soured/turned negative. Big companies don't like to clean up other companies messes, let along take on that financial and operating risk, unless they are consolidating into an existing strong position - like mega-marts buying struggling local chains or mega drug store chains buying smaller drug store chains, etc. You typically don't acquire a distressed asset in an industry in which you have no experience - at least not as a public company. Most private equity-backed companies won't do that either as the risk-reward doesn't match the profile required by their investors.

So if Rivian survives, don't expect a savior to emerge UNLESS it's an existing auto OEM who wants to catch up on EV's - but right now they are all downsizing investments and delaying future product plans. Rivian had a window, but it closed a year ago. Now it's on them to gut it out.

 

[s4wrxttcs]

The single biggest issue I've seen is Rivian R1T owners keep breeding themselves out of a truck.

Its seriously the number one reason they've listed for selling it.

In all seriousness a lot of it likely has to do with interest rates hurting used vehicle sales, and quite a few tech layoffs.

There doesn't seem to be anything that's better for the money. I expect when the R2 comes online a lot of people will sell the R1 as its bigger than they have the need for.

 

[bummin]

We are cutting loose our R1S for another R1T. My buddy says Mannheim MMR is about $80,100 for something like ours with 4600mi on the clock. I expect/hope to see high 70's on a trade from Rivian, glad this one was pre-order pricing.

 

[ndmiller]

Many more newish Teslas, Mach-E's, Hyundai IoniQ5 & 6 for sale with low miles from the EV standpoint. Look at Porsche how many 1 year old 5-10K mile options are out there in every model of their car along with their Taycan EV.

Don't read much into it, people in the US buy things all the time and they change their mind and sell them. It's part of the consumer driven economy.

 

[240vPlug]

Things are expensive now. The cost of everything has gone up. I suspect many folks overextended themselves during 2020-2023. Now, folks are having to cut back.

This isn't a Rivian thing per se. Many folks get into vehicles, realize they can't afford the payment, then get out.

Some of them, like @COdogman said may not be ready for EV lifestyle. One concern I have, which I have brought up several times, is the issue of service. Many folks can't wait months for an appointment or if they can they refuse to do so for a vehicle in this price range.

We know it's not the truck. I'm not concerned about the "B word". In a worst case scenario there would be a buy out. Rivian has built a serious brand now and they have some great tech.

 

[Jayhawkeye]

I’m being offered 73-77 trade in for my R1S with 17k miles.

building the same one now on the Rivian site shows 98K.

 

[Mark_AZR1T]

I’m being offered 73-77 trade in for my R1S with 17k miles.

building the same one now on the Rivian site shows 98K.

We were watching actual sale prices of R1S drop rather quickly from December onwards, so I was looking every day for my wifes color combo. Canyon Red, Ocean Coast (dark Ash). We were able to snag one last month for $80K with 60 miles (no sales tax), so it worked out for us. As soon as we were driving home, I cancelled our order.

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