R1S Tri -- October Lease Offer

[Electric Rivilution]

Just got this lease offer in email...

Bring home R1S Tri with leases starting at $1,199 for 36 months.
Includes $7,500 EV lease credit.
Delivers in just 1‑6 weeks.

Sponsored

 

[Summi99]

Curious what will be the residual on it if someone wants to purchase early or post lease end?
Also if this can be combined with the gen 1 $3500 trade in offer ?

 

[Electron]

Curious as well. Q4 is the true test for Rivian. It's like a 4x400 relay and the baton having been past along to the last runner on the final stretch.

Will Rivian pull through? I wish we could see the internal data.

They need to sweeten the incentives and hit it hard.

 

[Thedude]

For 30% more than my first house payment you can rent an EV. Life is wild.

 

[DuoRivian]

surprised they are doing this straightaway for the Tri motor - would have thought they had some pent up demand to be sufficient for Q4 supply.

 

[akc5247]

Curious what will be the residual on it if someone wants to purchase early or post lease end?
Also if this can be combined with the gen 1 $3500 trade in offer ?

You can combine it with the $3500. My guide confirmed this yesterday.

 

[Electrified Outdoors]

The macroeconomic challenges are real. Selling six figure vehicles ...at significant volume...is a challenge. I expect Rivian to pull out all the stops in December to try and make good numbers.

Pure speculation on my part here but this is what I think Rivian needs to do to make numbers.

Leasing is the way the majority of folks will be going on these vehicles due to the cost and fear of depreciation (even if it is just on paper).

1) Gen1 Loyalty - Rivian is already offering $3,500 to existing gen1 owners which I think is great. The issue is many of those vehicles have lost a lot of value. Example, my 2023 R1T Quad with 21k mi was quoted 58k for trade and the vehicle was $88.5k MSRP new. That's about 35% depreciation in 18 months. Now there are vehicles that are worse...much worse....but it’s a big hinderance to upgrading. Now I paid less than that in May 2023 however I would still be looking at a 27k loss (before loyalty incentive) if I traded it + any of the other accessories I put into it like PPF (7K), Tonneau ($1,100), Tint, etc. It’s a lot of loss to stomach and it’s what is holding me back from upgrading to Gen2.

2) Lease Subsidy - This is one I think Rivian needs to bring to Gen2. I know many have reported that the leases are a good deal but on Gen2 the recent money factors posted are around 8-9% range with residuals close to 60%. Many of you already know, the cost of the lease is the difference between price of the car & residual with an added rent charge.

3) Financing - Folks who want to finance can already get good rates through a CU...its leasing where folks need more incentives. Due to the fear of depreciation most will want to lease an EV these days.

4) Trade Subsidy - I don't expect Rivian to do all of these things but the elephant in the room here is use car values...especially EVs ....many folks are upside down on their vehicles and either unwilling or unable to roll that negative equity into the next purchase/lease.

Less than 20% of car buyers pay cash...so the other 80% need to lease or finance it...these are important considerations for Rivian to keep moving units.

I don't expect Rivian to offer all of these things but the leases and trades are where they should be focusing IMO. The higher the vehicle price, in this macroeconomic environment, the harder it will be to move.

Rivian has one of the best vehicles in the market today....especially the Tri motor and soon to be release quad motor T and S. Rivian needs more incentives to move units and further build the brand reputation before R2. R2 and R3 will be where Rivian is really able to achieve economies of scale and become profitable.

Sorry didn't mean to turn this into a book.

 

[savethemanual]

For 30% more than my first house payment you can rent an EV. Life is wild.

Over 80 percent of vehicles at this price point are leased, that's how it is.

 

[savethemanual]

Rivian stock will go pretty much sideways until launch of R2, that is their make it or break it moment....

 

[R1Tom]

Do they have a cap cost reduction required on this too? That monthly lease amount already seems beyond brutal but I am pretty out of touch with leasing.

 

[Batman]

Rivian stock will go pretty much sideways until launch of R2, that is their make it or break it moment....

If they would open up pre-orders for R3 at low price point, stock will definitely have a good pop

 

[Sgt Beavis]

I wonder how much of the Colorado tax credit can be applied to this or any of Rivian’s leases.

 

[Mark_AZR1T]

What is the current price per mile (excess) over the standard miles allocated in any Rivian lease? I drive 20K miles per year in my R1T and 12K per year in our R1S.

 

[FutureTruck]

What’s the miles per year and money down? Curious as I didn’t get the offer email

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