Rivian Lease Deals are extremely favorable right now

[SometimesNomad]

Hi Everyone, I'm looking for a great deal on a new R1S. Is there anyone out there not planning on using their preorder discount? Any way to transfer it? Otherwise I'm looking to get a good lease deal for 36/ 10 on the quad motor, any advice would be appreciated. Seems like you have to put the $1k deposit down and just hope for the best with no numbers given on residual etc. Thanks!

Agreed: Here is the issue I have.


I was about to lock in my R1S lease today, but my sales rep said he wasn't able to give me my a finalized lease payment amount without converting our 1K deposit to non-refundable. I didn't want to do this on principle alone. I am assuming that our payment will be close to the estimate, but if I came in significantly more than the estimate I would walk away and lose $1K. Two questions:

1) Has anyone else had this same experience, or were you able to get finalized pricing without committing the 1k?

2) How close was your final payment to the amount on the estimator?

We have as near as makes no difference perfect credit. 800+

Thanks for the help!!

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[ddimit]

My numbers were pretty much right on as compared to the build estimator, but it doesn't factor in the delivery fee (which It should and tax and license)

 

[moeman2323]

My numbers were pretty much right on as compared to the build estimator, but it doesn't factor in the delivery fee (which It should and tax and license)

Saying this is misleading. The monthly payment and down payment may be close, but the actual due at signing is no where near it regardless of how much you put down.

 

[Syrarch04]

^ This is my understanding as well. I'm impatiently waiting for (hopefully) the right truck to pop up in the shop, but reading this forum makes it sound like there are some fees that the online calculator pretends don't exist. There is a little more info in the fine print there, as it calls out that the cash due excludes tax, title, license, and lessor fees. The destination charge of $1,800 (which seems nuts to me considering it's coming from IL, not some other continent, but it is what it is) is a significant extra charge that is left off the CD number, even though it's required just like the acquisition fee that is included. Depending on where you live, home delivery is another big charge, at least $1k I would imagine.

 

[RadDad]

Locked in my R1S Quad Launch lease deal today. Hesitant to even post it lest someone say it sucks.


Order subtotal
$94,650.00

Leasing Details
-
Term: 36 months

Annual mileage 10,000 mi

Monthly payment: $844.80

Deposit credit: -$1,000.00

EV lease credit: -$7,500.00

Due at signing

First month payment: $844.80

Taxes*: $1,135.58

Acquisition fee: $895.00

Home delivery fee: $0.00

Documentation fee: $347.00

Title & registration fees: $145.00

Down payment : $4,000.00

Total due at signing: $7,370.54


Apparently won't know residual and all those details until closer to delivery.

 

[Eric85255]

Locked in my R1S Quad Launch lease deal today. Hesitant to even post it lest someone say it sucks.


Order subtotal
$94,650.00

Leasing Details
-
Term: 36 months

Annual mileage 10,000 mi

Monthly payment: $844.80

Deposit credit: -$1,000.00

EV lease credit: -$7,500.00

Due at signing

First month payment: $844.80

Taxes*: $1,135.58

Acquisition fee: $895.00

Home delivery fee: $0.00

Documentation fee: $347.00

Title & registration fees: $145.00

Down payment : $4,000.00

Total due at signing: $7,370.54


Apparently won't know residual and all those details until closer to delivery.

Best practice is to go with zero down payment outside of the required $1000 deposit. If you total it, that money is gone.

 

[moeman2323]

Locked in my R1S Quad Launch lease deal today. Hesitant to even post it lest someone say it sucks.


Order subtotal
$94,650.00

Leasing Details
-
Term: 36 months

Annual mileage 10,000 mi

Monthly payment: $844.80

Deposit credit: -$1,000.00

EV lease credit: -$7,500.00

Due at signing

First month payment: $844.80

Taxes*: $1,135.58

Acquisition fee: $895.00

Home delivery fee: $0.00

Documentation fee: $347.00

Title & registration fees: $145.00

Down payment : $4,000.00

Total due at signing: $7,370.54


Apparently won't know residual and all those details until closer to delivery.

It's not bad. Here is mine for comparison in Michigan...

2023 R1T Rivian Blue with Large Pack and 22" Black

Leasing calc showed:

$857/month with 0 down payment, $895 acquisition fee, and first month of $857. Estimated due at signing was $1752.

Realistically:

Order subtotal
$82,500

Leasing Details
-
Term: 36 months

Annual mileage 10,000 mi

Monthly payment: $878.61

Deposit credit: -$1,000.00

EV lease credit: -$7,500.00

Due at signing

First month payment: $878.61

Taxes*: $584.52

Acquisition fee: $895.00

Home delivery fee: $0.00

Documentation fee: $347.00

Title & registration fees: $597

Down payment : $0

Total due at signing: $3302.13

Basically at the end of the day it was realistically $4302.13 due at signing if you include the $1000 deposit, which is $2550 more than the calculator states.

 

[RadDad]

Best practice is to go with zero down payment outside of the required $1000 deposit. If you total it, that money is gone.

How is that money gone?

 

[Eric9610]

How is that money gone?

Let’s say you put $5k down and the car gets totaled the gap insurance only covers what the car was worth and what insurance will pay. In all cases the money down will not be recouped as the cars worth never includes lease down money. That’s is why you should always put as little down on any lease.

 

[SometimesNomad]

How is that money gone?

I was thinking about it differently, but was also planning on putting zero down. The opportunity cost of tying up that money is higher than the savings on the lease. From the estimator, it looked like I only needed to make 2% per year before I would be better off putting that down payment money towards investments.

 

[RadDad]

Let’s say you put $5k down and the car gets totaled the gap insurance only covers what the car was worth and what insurance will pay. In all cases the money down will not be recouped as the cars worth never includes lease down money. That’s is why you should always put as little down on any lease.

Thanks.

I was able to redo the lease with no money down and if I did the math correctly, I think I'll actually come out about a grand better in the long run, and that's before investment in what I would have put down. The tax also went down.

 

[f1racer328]

Arizona for reference

2024 Quad R1T

Residual value: $60,736.00
Money Factor: 0.00157
Base Payment: $943.89
Monthly Payment Tax: $81.17
Payment: $1,025.06

0 down $4,802.06 due at signing.

The Rivian shop calculated a payment of $973 with $1,868 due at signing. The payment was close enough for me, but the total due at signing was way off which I didn't expect.

Build

Adventure Package $69,900.00
All-Terrain Upgrade $3,850.00
Quad-Motor AWD $8,000.00
Large $9,100.00
Forest Green exterior color $1,750.00
20" All-Terrain wheel and tire Included

Powered Tonneau Cover $500.00

Vehicle subtotal
$93,100.00

Has the total price at $97,782.00

I ordered about a week too early to get the free stealth PPF which is unfortunate, but it is the way it is. It is a lease after all, and I was planning on buying another R1T after the lease if I like it.

 

[RadDad]

Arizona for reference

2024 Quad R1T

Residual value: $60,736.00
Money Factor: 0.00157
Base Payment: $943.89
Monthly Payment Tax: $81.17
Payment: $1,025.06

0 down $4,802.06 due at signing.

The Rivian shop calculated a payment of $973 with $1,868 due at signing. The payment was close enough for me, but the total due at signing was way off which I didn't expect.

Build

Adventure Package $69,900.00
All-Terrain Upgrade $3,850.00
Quad-Motor AWD $8,000.00
Large $9,100.00
Forest Green exterior color $1,750.00
20" All-Terrain wheel and tire Included

Powered Tonneau Cover $500.00

Vehicle subtotal
$93,100.00

Has the total price at $97,782.00

I ordered about a week too early to get the free stealth PPF which is unfortunate, but it is the way it is. It is a lease after all, and I was planning on buying another R1T after the lease if I like it.

I was initially bummed about the PPF but with a lease it's less of a problem. And my R1S is Forest Green, which I don't think looks as good with a matte finish.

 

[EdzR1T]

Locked in my R1S Quad Launch lease deal today. Hesitant to even post it lest someone say it sucks.


Order subtotal
$94,650.00

Leasing Details
-
Term: 36 months

Annual mileage 10,000 mi

Monthly payment: $844.80

Deposit credit: -$1,000.00

EV lease credit: -$7,500.00

Due at signing

First month payment: $844.80

Taxes*: $1,135.58

Acquisition fee: $895.00

Home delivery fee: $0.00

Documentation fee: $347.00

Title & registration fees: $145.00

Down payment : $4,000.00

Total due at signing: $7,370.54


Apparently won't know residual and all those details until closer to delivery.

Very helpful info as I hope to be taking the plunge on an R1T myself.

One question--where does the destination fee come in to play?

Edmond

 

[moeman2323]

Very helpful info as I hope to be taking the plunge on an R1T myself.

One question--where does the destination fee come in to play?

Edmond

The destination fee is already build into the vehicle price. I don't know why people keep calling it out as a separate fee on top of it. Maybe it's different for purchases... but its definitely not tacked on for leases.

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