I'm Getting Cold Feet [** CLOSED DUE TO POLITICS DISCUSSION **]

[Cobalt262]

I love the RS1, but just can't justify the investment at this point with the looming recession.
I did a quick breakeven analysis based on my current driving costs, and the cost of the RS1 would take 26 years to recoup. And I currently drive an LX570.
Yes, the vehicle is gorgeous. Yes, it is fast as sh!t
And Yes great for the environment. But $80k for transportation is tough to swallow. I'd hate to give up my spot for the quad-motor since they wont be making them anymore.

Can anyone talk me off the fence?

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[endress14]

can you share the cost analysis? that would go a long way to better understand your exact situation. how long do you plan on the Lexus lasting and what alternative would you buy instead of the Rivian to save $$ in the Long term?

 

[kanundrum]

Nothing will justify cost. Do what you want, your LX570 will last a lifetime. No one needs a 80k BEV SUV.

That being said, best 80k I spent a long with my Alfa Romeo. You can tell the passion and beauty in the Rivians even with what others call "soulless" electric vehicles.

 

[CharonPDX]

I love the RS1

R1S.

I currently drive an LX570.
...
$80k for transportation is tough to swallow.

The LX570 starts at $89k. You obviously have no problem paying for a vehicle worth over $80k for transportation. (Even if you bought yours used, you bought a vehicle that was worth that new - if you hesitate paying it now, wait for a used R1S to drop in price.)

My R1T is *BY FAR* the most expensive vehicle I've ever bought. About double the second most expensive - which was a base model Ford Mach-E bought earlier this year. (I've spent more on vehicles this year than the 11 vehicles I've bought before this year. And heck, I spent more on the Rivian than I spent on every vehicle my first 25 years buying vehicles. Only the used Tesla bought last year bumps my "total pre-2022" car prices to more than the Rivian alone.)

And it has been worth every penny.

 

[ads75]

It’s a car or truck. Not a marriage. I certainly wouldn’t blame anyone for not wanting to spend $80k on a vehicle though. Although resale prices have come down, it’s not like it would be a total $80k loss if you didn’t like it and needed to or wanted to get rid of it. It will be my most expensive vehicle purchase, everything else I have considered that I like was around $60k anyway, so I figured just spend “spend a little more (and tax credit)” for something that could be awesome. Post March 1 pricing would eliminate me though, at least for quad motor.

 

[Taycanfrank]

Don't get it.

It's a luxury purchase, if you're not 100% sure you don't buy it.

 

[virgnia_rivian]

R1S and the quad motor isn’t going away, it’s just an additional cost now over the dual motor.

 

[EVTrukHog]

I'd probably talk you to the other side of the fence. IMO, if anyone is "nervous" about spending this type of money on a new vehicle, then you probably shouldn't do it - especially in light of the current economic conditions. Vehicles are not an asset to over leverage yourself on. Just my $0.02 - YMMV.

 

[dleepnw]

depending on your situation, sure there might be very good reason to wait. if youre a relatively early order holder and you get it soon, you could turn around and sell it to make a profit, then put another order in for an R1 or R2 (when its available). you'll be waiting 1-2 years from now at minimum so that should give you a better view of the economy and where you'll be financially. so waiting could be a win-win, as long as youre willing to wait.

 

[mabowden]

I love the RS1, but just can't justify the investment at this point with the looming recession.
I did a quick breakeven analysis based on my current driving costs, and the cost of the RS1 would take 26 years to recoup. And I currently drive an LX570.
Yes, the vehicle is gorgeous. Yes, it is fast as sh!t
And Yes great for the environment. But $80k for transportation is tough to swallow. I'd hate to give up my spot for the quad-motor since they wont be making them anymore.

Can anyone talk me off the fence?

Darn, just can't do it. The LX570 is a great vehicle and really no reason you should buy the R1S (not RS1).

 

[Davethadog]

It's just a car.

 

[kizamybute']

I'm confused. Buy a lexus with a similar price point versus buying a Rivian at a similar price point. Lexus, no tax credit. Lexus, pay constantly for gas, oil changes, maintenance, smog checks, brakes, etc, etc. Rivian, probably never put brakes on it. No smog checks. No gas. Cost to operate is FAR less than any ICE vehicle.

Just do the simple math. Yes, if you own your Lexus free and clear, then probably cheaper to keep it. But, older vehicles generally need repairs. How long do you have left on the warranty? Lexus vehicles are not cheap to repair. Rivian, you get 5 years of warranty to be worry free.

But, if you're comparing buying a Rivian to another ICE SUV, then the simple math is quite clear.

Add the total cost in, total cost of payments for your loan period and time you expect to keep it, add in estimated maintenance costs. For me, I keep cars for three years. Resale value will be higher on an electric vehicle than a gas vehicle.

The math ALWAYS works out cheaper over a three year cost analysis. Meaning, how much comes out of my pocket from day one to the end of three years. What's the estimated resale value in three years. Generally, for an ICE to make sense, it needs to have a starting price of around $20,000 less for it to end up overall cheaper over three years.

So, what can you buy for $60,000 versus the $80,000 Rivian? Any, nice SUV is going to be in the $70,000 to $90,000 price range. If you want to get something far less nice and smaller, you can find stuff closer to $60,000. Even a Ford Explorer starts pushing $60,000 with options added. Which would you rather have?

People always made the stupid comment that I must be doing well because I drove a Tesla for several years, when in reality, my Tesla cost me less than a $40,000 car would have cost me over a 3 year period. And that's prior to considering the added convenience of never having to stop for gas. Charge up each night and have a full "tank" each day. To me, that hassle is certainly priceless.

View the big picture, not just the short term figures and decide for yourself

 

[connoisseurr]

The only input I can provide is:

I would buy an R1T or R1S at preorder pricing today, all day long.

If I were buying today at the new current price, I would not, until most of the early hardware, software and manufacturing woes are worked out.

 

[Donald Stanfield]

Yeah if you don't want to spend the money you're better off not doing it. I love my R1, I want people to buy them because they are great. With that said they are a car, and we are heading to a recession. I wouldn't extend yourself for what is at the end of the day, a luxury purchase.

 

[mini2nut]

Used R1T prices are slowly dipping as well. R1T’s were fetching $115-$130 9-months ago. I think most of the “gotta have it now” buyers have purchased one already.

https://carsandbids.com/auctions/rbqYD88Q/2022-rivian-r1t-adventure

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