Rivian Lease Deals are extremely favorable right now

[jayg]

I just leased a R1S few days ago.
The monthly payment is exactly what the web lease calculator showed. You just need to add the sales tax and the registration/license fees. The web calculator takes already into account the $1800 destination fee.

The quad leasing options are cheaper because the
residual value is at 75%
That lease looked expensive, so I got the quad, is 75 percent higher than the other residuals on other models.

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[Rivtony]

I believe the residual on the dual and dual-P are around the mid 60's%

 

[Kidentist]

If you can afford to either buy or lease.....which would you prefer? My understanding from reading the entire thread is that the "residual" values for R1T are "fair"??

 

[betak]

If you can afford to either buy or lease.....which would you prefer? My understanding from reading the entire thread is that the "residual" values for R1T are "fair"??

Lease. $7.5k credit coupled with nearly 0% interest(MF) for MY2023 Quads is more favorable. I get 3 years to evaluate EV market and interest rates.

 

[Kidentist]

Lease. $7.5k credit coupled with nearly 0% interest(MF) for MY2023 Quads is more favorable. I get 3 years to evaluate EV market and interest rates.

Definitely a great incentive. Only applicable to MY23 models, correct?

 

[RWerksman]

So, I've read this entire thread and there doesn't seem to be a consensus on the two calculators not agreeing.

The "shop" calculator for me indicates a $763/mo payment with $2500 due at signing. In my "8 steps" calculator, it is showing a $810.45/mo payment with $3259 due at signing despite the same $ down.

The fees in the due at signing are pretty self explanitory as there is a little fly-out -- doc fees and a small tax amount. The language for the monthly payment portion is identical in both calculators and provides no details.

Also - it's a 4 hour wait for chat. This is slightly infuriating.

 

[jjswan33]

So, I've read this entire thread and there doesn't seem to be a consensus on the two calculators not agreeing.

The "shop" calculator for me indicates a $763/mo payment with $2500 due at signing. In my "8 steps" calculator, it is showing a $810.45/mo payment with $3259 due at signing despite the same $ down.

The fees in the due at signing are pretty self explanitory as there is a little fly-out -- doc fees and a small tax amount. The language for the monthly payment portion is identical in both calculators and provides no details.

Also - it's a 4 hour wait for chat. This is slightly infuriating.

I have read that the 1800 destination fee is not included in the shop calculator which would be right about the difference. Just a guess. Edit: Confirmed not to be the case below.

Agree it is infuriating to get in touch with someone. I was curious whether I could buy one of these 2023's without the PTC and the chat queue was long so I sent an email. They sent an auto reply that basically said they were busy and unlikely to email me back so I should contact chat/phone support. Rivian is making it too easy to be financially conservative.

 

[RWerksman]

I have read that the 1800 destination fee is not included in the shop calculator which would be right about the difference. Just a guess.

Agree it is infuriating to get in touch with someone. I was curious whether I could buy one of these 2023's without the PTC and the chat queue was long so I sent an email. They sent an auto reply that basically said they were busy and unlikely to email me back so I should contact chat/phone support. Rivian is making it too easy to be financially conservative.

That destination fee not being included is absolute bullshit. It's not like it's unknown or optional. It not being included is borderline deceptive.

 

[TTedP]

So, I've read this entire thread and there doesn't seem to be a consensus on the two calculators not agreeing.

The "shop" calculator for me indicates a $763/mo payment with $2500 due at signing. In my "8 steps" calculator, it is showing a $810.45/mo payment with $3259 due at signing despite the same $ down.

The fees in the due at signing are pretty self explanitory as there is a little fly-out -- doc fees and a small tax amount. The language for the monthly payment portion is identical in both calculators and provides no details.

Also - it's a 4 hour wait for chat. This is slightly infuriating.

Some states charge tax on the monthly lease amount (like PA). That added ~$50 to my shop calc figure and wasn't applied until actual lease paperwork filled out.

 

[RWerksman]

Some states charge tax on the monthly lease amount (like PA). That added ~$50 to my shop calc figure and wasn't applied until actual lease paperwork filled out.

That sounds reasonable. The $ doesn't quite match though. There is also a disclaimer in the "8 steps" calculator (that is higher already) about tax being additional.

 

[Rivtony]

Tax and registration fees are additional. It will only show on the 8 steps calculator.
The $1800 destination fee is included in the shop calculator

 

[Rivtony]

Definitely a great incentive. Only applicable to MY23 models, correct?

The $7.5k credit applies to the 24's too

 

[RWerksman]

Tax and registration fees are additional. It will only show on the 8 steps calculator.
The $1800 destination fee is included in the shop calculator

Ironically, I'm chatting with CS and they can't confirm this is actually correct.

(that 4 hour wait was only about 1 hour)

 

[Rivtony]

Ironically, I'm chatting with CS and they can't confirm this is actually correct.

(that 4 hour wait was only about 1 hour)

I can confirm by comparing my contract to the shop calculator.
The amount is exactly the same minus tax and registration fees.

 

[RWerksman]

I can confirm by comparing my contract to the shop calculator.
The amount is exactly the same minus tax and registration fees.

This is tremendously helpful. Thank you!

They literally just told me, "I am fairly sure it is not [accounted for in the shop configurator, thus making it the difference], I believe that would be in the "excluding taxes and fees" " FFS.

They just re-confirmed this is the case. The difference is tax.

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