The newest Rivian demand lever? Fisker-Chase-Bank-Rivian Incentive (3/2025)

[Dark-Fx]

Chase is offering to repurchase Fisker Oceans from people who used them to Finance the vehicles. And they can trade it in for a Rivian.

A brief history on this subject for the uninitiated:

Hagens Berman is leading arbitration cases against Chase that they might be liable to compensate consumers under the " Holder Rule ", which establishes that the bank of financier involved with the promotion of vehicles can be held liable to the same extent the manufacturer can. Any sort of a case that could have been brought against Fisker can be brought against Chase, if you used them as the financier.

My letter from Chase is sitting at my door right now. Most likely I'll still end up keeping the Fisker though, unless it's literally an offer I can't refuse.

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Most likely I'll still end up keeping the Fisker though, unless it's literally an offer I can't refuse.

If the offer is anything close to the purchase price minus "normal" depreciation I can't imagine many people would not view that as an offer you can't refuse.

People who are enjoying the vehicle could use the cash to buy 2-3 more to replace the one they sold back. And possibly even more if the market gets flooded with vehicles from people who accept the offer.

 

[Dark-Fx]

Looks like my offer is identical to the other one I've seen online. Nothing about buying back without the requirement of getting a Rivian, maybe it's on the backside but I haven't read it yet.

Too bad gen2 quad motors aren't out yet. (Rivian, if you're reading this, you know you wanna sell me a third R1, hint hint)

 

[Rivdog]

I understand (kind of) why Rivian would accept a trade-in, but what benefit does Rivian get for just buying it outright at the same price?

 

[Dark-Fx]

I understand (kind of) why Rivian would accept a trade-in, but what benefit does Rivian get for just buying it outright at the same price?

Chase is "buying it" and using Rivian's used car channel to sell it. Chase doesn't have that kind of a faculty in place. Rivian agreed to facilitate the transaction.

 

[Rivdog]

Chase is "buying it" and using Rivian's used car channel to sell it. Chase doesn't have that kind of a faculty in place. Rivian agreed to facilitate the transaction.

Ah gotcha. Even my credit union has a repo division that handles that stuff so I just assumed Chase would. Sounds like a win-win for Rivian.

 

[Rawrr_dinosaurs]

I know nothing about the deal but I wouldn't be surprised if Chase just sends them to auction and the exact same thing happens when traded in to Rivian, but Rivian kicks some money back to Chase for the referral.

That way Rivian gets tied into a consumer base that has shown they're already willing to buy into an emerging EV brand and probably wants to get out of their unsupported Fisker, and Chase gets a discount on what they're paying out.

All speculation though.

 

[Riviot]

I know nothing about the deal but I wouldn't be surprised if Chase just sends them to auction and the exact same thing happens when traded in to Rivian, but Rivian kicks some money back to Chase for the referral.

That way Rivian gets tied into a consumer base that has shown they're already willing to buy into an emerging EV brand and probably wants to get out of their unsupported Fisker, and Chase gets a discount on what they're paying out.

All speculation though.

Cox Automotive is an original investor in Rivian, they own Manheim, so probably the facilitator.

 

[Nixapatfan]

Just taking a shot in the dark maybe Chase is an underwriter for Rivian also so may be using Rivian as a facilitator and help it succeed so they don't have another one of these cases.

 

[CaptainMRSir]

Chase is offering to repurchase Fisker Oceans from people who used them to Finance the vehicles. And they can trade it in for a Rivian.

A brief history on this subject for the uninitiated:

Hagens Berman is leading arbitration cases against Chase that they might be liable to compensate consumers under the " Holder Rule ", which establishes that the bank of financier involved with the promotion of vehicles can be held liable to the same extent the manufacturer can. Any sort of a case that could have been brought against Fisker can be brought against Chase, if you used them as the financier.

My letter from Chase is sitting at my door right now. Most likely I'll still end up keeping the Fisker though, unless it's literally an offer I can't refuse.

I got one as well. Would prefer the cash. I already own an R1T and the R1S is bigger than we'd like. If the R2 or R3 were available I might bite. I don't know if this will be Chase's only offer and why it's exclsive to Rivian. We need a 2nd car and would definitely jump at the chance to offload the FOO.

 

[CaptainMRSir]

Looks like my offer is identical to the other one I've seen online. Nothing about buying back without the requirement of getting a Rivian, maybe it's on the backside but I haven't read it yet.

Too bad gen2 quad motors aren't out yet. (Rivian, if you're reading this, you know you wanna sell me a third R1, hint hint)

Interesting that the trade-in value on this letter differs from mine, $36,954.78 vs $36,454.68. The thing is I put down $33k+ cash when I bought the FOO. If I take advantage of this offer, I need to come up w/or finance an additional $70K. Would love to unload the FOO and take the cash and buy a different EV, but that’s not the offer.

 

[UnsungZero_OldTimeAdMan]

Too bad gen2 quad motors aren't out yet. (Rivian, if you're reading this, you know you wanna sell me a third R1, hint hint)

Can the incentive be applied to leases? Lease a tri, which surpass gen 1 quad slightly, then by lease end move to a gen 2 quad? By then gen 2 platform would have more kinks ironed out.

 

[RivianRiverRat]

looks like a very good offer based on carguru values
(YMMV-no idea how accurate those re-sale $$$ are or if another service such as carmax is lower or higher)

 

[Dark-Fx]

Can the incentive be applied to leases? Lease a tri, which surpass gen 1 quad slightly, then by lease end move to a gen 2 quad? By then gen 2 platform would have more kinks ironed out.

Yeah but I don't think they'll do less than a 2y lease.

 

[UnsungZero_OldTimeAdMan]

Yeah but I don't think they'll do less than a 2y lease.

True. 24 months minimum. But 2 years go by pretty quick.

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