Rivian Trade In Estimator Launched

[JeffD]

58k for my 2023 R1T quad with 18k mi. Nope not happening ?

Sponsored

 

[JeffD]

2023 Midnight Black Launch edition R1S with all terrain, ocean coast and underbody shield. 15,000 miles in excellent condition.

I’m just happy to see this estimator finally come online.

 

[JeffD]

https://rivian.com/trade-in/vehicle-info

A little shocked at the values, but guess I haven’t been paying attention to latest resale prices.

This is why I sold my 23 R1S with 8k on it and leased a 24 R1S now I don’t care about the depreciation it’s Rivian (Chase Banks ) headache now.’

 

[R1Tom]

The significant depreciation we are seeing so far will definitely make me reconsider next move. I would likely go G2 QM, but with my G1 QM being worth so little...that likely just doesn't make good financial sense. Might instead go back to Lexus and go with a LX600 or GX550.

First choice at moment is just keep G1 R1T and see how bad things get post warranty coverage. If out of warranty repairs are as bad as I think they will be...from a cost standpoint....will probably keep it a game time decision with each needed repair as to which is the last before a move.

Problem is I LOVE MY R1T QM....so might just keep it forever(aka over 5 years for me) if repairs aren't out of control. And I love Rivian all around....so that might drive me back to making a poor financial decision. Certainly wouldn't be the first time....

 

[Riviot]

The silly COVID years of fiscal appreciation spoiled car owners and now we all think our Rivians should be earning us greenbacks instead of shedding them.

The fact is depreciation applies to all vehicles; current Rivian models are just more expensive off the lot so while the percentage is in line with market rates, the $$ amount lost is just more. That's basic math.

Personally, I use similar numbers to the below when calculating Total Cost of Ownership on a 5 year line and then also do a 10-year TCO at 100% depreciation (full cost of vehicle).

https://www.autoexpress.co.uk/tips-...ure-residual-values-and-how-theyre-calculated

 

[madgrey]

The silly COVID years of fiscal appreciation spoiled car owners and now we all think our Rivians should be earning us greenbacks instead of shedding them.

True. I sold a 6 year old Wrangler in late '21 for the same price (within $7) of the original out-the-door price (tax, license, etc.). We need to reset our expectations a bit.

 

[jwanderson88]

Massive depreciation is typical for all EV's. I found that out with my Chevy. The economics get tricky, since Rivian is losing money on every vehicle they sell. As far as I know, Rivian doesn't sell used ones. Will they start, or offer them for leasing? Are they planning on finally making money on second-hand Rivians? I'm planning on keeping my R1T for a long time, so it doesn't matter to me. I'm hoping that it will pay off in low maintenance costs, which depends on everything working far into the future. There isn't much Rivian history to go on, which probably causes owners some anxiety.

 

[evlavista]

$64,370 for my 23 R1S Quad 22" blacks w/16k miles. No thanks

My carvana.com offer for very similar r1s was 66k. Ouch

 

[Treebeard]

"22 T quad, with a bit over 46k miles, estimate is $46770. Thank you, I'll pass

Dealer offered me 46,000 for the same with 32,000 miles

 

[Whale Blubber]

Maybe I should not have bought mine for cash. I guess at least I won't be upside down on a loan. ha.

 

[madgrey]

I received an email from what appears to be a real person at Rivian Sales, wanting to know what I thought of the quote... well, I'm not too happy ('22 R1T w/ 20K miles, Forest Edge, 22s) for $52.5K. Working on an email reply now.

 

[Electrified Outdoors]

I am not worried about it. I am going to drive the truck and enjoy it.

 

[dfx]

I received an email from what appears to be a real person at Rivian Sales, wanting to know what I thought of the quote... well, I'm not too happy ('22 R1T w/ 20K miles, Forest Edge, 22s) for $52.5K. Working on an email reply now.

I haven't received a quote yet but my experience has been that all EV's show an outsized early depreciation because of the $7500 credit. My cost was $77450 for the LE R1S but my basis is really $70,000 because I received the tax credit. It's 20 mo old with 23K miles on it, if I get $58k from them on the quote I'll definitely consider swapping for Gen 2. It would be net $12k depreciation for 23k miles which isn't that unreasonable for a higher priced vehicle
That said, for someone to be able to buy my R1S for under $60k is an absolute steal. It's an amazing vehicle

 

[vandy1981]

6 month old ‘23 R1T Dual Performance Max with 4k miles on it, MSRP was 103.250$, Rivian trade-in estimate:
60700$

$62320 for my R1S Dual Performance Max with 10K miles. KBB for trade-in is $71800. Definitely a low ball offer from Rivian.

 

[Electron]

Complete joke. Same shenanigans with Tesla, but it's sad to see Rivian swooping down to swamp levels.

The energy and resources could be better spent elsewhere.

Sponsored