2024 R1T Lease Residual/Money Factor

[GeauxRivian]

Hello fellow Rivian owners ! I finally have found a spec that I would be happy with and wanted to go over some of the leasing numbers as this is my first time leasing. I wanted to take advantage of the $7,500 EV Credit and also the ongoing Employee Referral plan. The Residual I got back from Rivian was around $46,000 after the 36/15k Mile term. This should equate to around a 56% residual for the vehicle if I am not mistaken. Best practice is to put the lease amount down, so I threw in another $1,000 just to make myself comfortable nothing to crazy. The only thing I am missing is the Money Factor which would give me my APR that it would roughly equate to. Can someone assist me with this or have any recommendations on the deal? Appreciate it in advance! Let me know if you have any questions.

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[nal13]

Just registered and first time poster. I was able to reserve one of the last 2024 Dual Larges last week.

Awaiting finance options

I plan on leasing as the rate seems unreal but will only do 10K per year so itll be interesting to see what the residual looks like.

Like you I will put little to no money down as it doesn't make sense in a lease when the money is so cheap.

My only concern is that the reported friends and family offer is only valid through the rest of the month.

Hopefully our vehicles will be delivered prior to August 31st.

Here's my car
Will post finance deal to compare once completed.


Vehicle Summary
-

Build
Adventure Package
$69,900.00
Dual-Motor AWD
Included
Large
$5,100.00
Forest Green exterior color
$1,750.00
Bright Package
Included
21" Road wheel and tire
Included
Aux Air & Gear Guard / Air Compressor
Included
Ocean Coast + Dark Ash Wood interior
$2,000.00
Rivian Elevation Audio
Included
Panoramic Glass Roof
Included
Tow Hooks
Included

Installed Adventure Gear
Tow Hooks
Included

Subtotal
$78,750.00
Employee R1T Discount Offer
-$6,000.00

Vehicle subtotal
$72,750.00

 

[GeauxRivian]

Just registered and first time poster. I was able to reserve one of the last 2024 Dual Larges last week.

Awaiting finance options

I plan on leasing as the rate seems unreal but will only do 10K per year so itll be interesting to see what the residual looks like.

Like you I will put little to no money down as it doesn't make sense in a lease when the money is so cheap.

My only concern is that the reported friends and family offer is only valid through the rest of the month.

Hopefully our vehicles will be delivered prior to August 31st.

Here's my car
Will post finance deal to compare once completed.


Vehicle Summary
-

Build
Adventure Package
$69,900.00
Dual-Motor AWD
Included
Large
$5,100.00
Forest Green exterior color
$1,750.00
Bright Package
Included
21" Road wheel and tire
Included
Aux Air & Gear Guard / Air Compressor
Included
Ocean Coast + Dark Ash Wood interior
$2,000.00
Rivian Elevation Audio
Included
Panoramic Glass Roof
Included
Tow Hooks
Included

Installed Adventure Gear
Tow Hooks
Included

Subtotal
$78,750.00
Employee R1T Discount Offer
-$6,000.00

Vehicle subtotal
$72,750.00

Congrats! You have until September 30th for delivery so you should be ok! I’m scheduled for September 12th in HTX Service Center. Hope they can uphold that date!

 

[nal13]

So getting delivered 8/30!
All financing done.
Had 7k in negative equity in my trade in. Almost offset by friends and family.
total out of pocket
4351 at signing which included 1000 dollars for home delivery.
807.10 per month!!!

For an 80k car this is such an amazing deal especially when you look at the negative equity in my Silverado. Looking forward to getting behind the wheel next week!

 

[GeauxRivian]

So getting delivered 8/30!
All financing done.
Had 7k in negative equity in my trade in. Almost offset by friends and family.
total out of pocket
4351 at signing which included 1000 dollars for home delivery.
807.10 per month!!!

For an 80k car this is such an amazing deal especially when you look at the negative equity in my Silverado. Looking forward to getting behind the wheel next week!

Congrats! Not a bad way to get out of that negative equity! Still looking at 9/13 for my delivery!

 

[mini2nut]

I don’t see a money factor listed in your numbers.

Money factor x 2400 = APR

For example, if your money factor is .0025 you’re paying a 6 percent interest rate.

 

[GeauxRivian]

I don’t see a money factor listed in your numbers.

Money factor x 2400 = APR

For example, if your money factor is .0025 you’re paying a 6 percent interest rate.

I just texted my guide and they responded saying that the MF is 0.00036. So that would equate to a 0.864 APR? Looks like I’ll be saving some money if I decide to buy it out.

 

[petersra]

Hello fellow Rivian owners ! I finally have found a spec that I would be happy with and wanted to go over some of the leasing numbers as this is my first time leasing. I wanted to take advantage of the $7,500 EV Credit and also the ongoing Employee Referral plan. The Residual I got back from Rivian was around $46,000 after the 36/15k Mile term. This should equate to around a 56% residual for the vehicle if I am not mistaken. Best practice is to put the lease amount down, so I threw in another $1,000 just to make myself comfortable nothing to crazy. The only thing I am missing is the Money Factor which would give me my APR that it would roughly equate to. Can someone assist me with this or have any recommendations on the deal? Appreciate it in advance! Let me know if you have any questions.

Looks like a great deal! Congrats!

 

[GeauxRivian]

Looks like a great deal! Congrats!

Thank you! Delivery date is estimated for 9/12/24 hope all goes well! Based off that APR I’m much better leasing and see what happens to the market in 36 months.

 

[All Rived Up]

I just texted my guide and they responded saying that the MF is 0.00036. So that would equate to a 0.864 APR? Looks like I’ll be saving some money if I decide to buy it out.

I'm pretty sure that your Money Factor is .0036 not .00036, you might want to verify.

 

[GeauxRivian]

I'm pretty sure that your Money Factor is .0036 not .00036, you might want to verify.

I texted and spoke to them on the phone, but not 100% sure if accurate. I guess I’ll see on paperwork before pickup?

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