Got the R2 order invite, but still on lease with the R1

[Manalishi]

TL;TR: Rivian and Chase are offering no special deals or assistance to get early adopters in to an R2.

I spoke to my Rivian Guide yesterday.
Here's my situation and what he told me:
* R1S on 24 month lease ending 9/24/2026
* I ordered my R2 on 6/16/2026. Delivery is estimated in 4-8 weeks.
* I must take delivery within 7 days of when my R2 is ready or I forfeit it and have to place a new order (go to the back of the line)
* The R1S is a Gen 2 Dual Large Adventure 2025
* The R1S residual value is $66K
* The R1S trade-in offer is $60K
* This means I would need to pay $6K plus the remaining months' payments.
* So, the best way to go for me is to just hold on to the R1S for the 3 remaining months and turn it in at lease end. Meaning I'll have an extra vehicle for a few months.

Sponsored

 

[Ngkgb]

TL;TR: Rivian and Chase are offering no special deals or assistance to get early adopters in to an R2.

I spoke to my Rivian Guide yesterday.
Here's my situation and what he told me:
* R1S on 24 month lease ending 9/24/2026
* I ordered my R2 on 6/16/2026. Delivery is estimated in 4-8 weeks.
* I must take delivery within 7 days of when my R2 is ready or I forfeit it and have to place a new order (go to the back of the line)
* The R1S is a Gen 2 Dual Large Adventure 2025
* The R1S residual value is $66K
* The R1S trade-in offer is $60K
* This means I would need to pay $6K plus the remaining months' payments.
* So, the best way to go for me is to just hold on to the R1S for the 3 remaining months and turn it in at lease end. Meaning I'll have an extra vehicle for a few months.

You won’t need to make the remaining months payments. You can just cut them a check for 6k and walk away. Have you tried Carvana, Autonation, Carmax and see what their offers are?

 

[strykerwsu]

You won’t need to make the remaining months payments. You can just cut them a check for 6k and walk away. Have you tried Carvana, Autonation, Carmax and see what their offers are?

I'm hopeful his/her monthly payments are less than $2k a month for the lease

 

[iamnid]

You won’t need to make the remaining months payments. You can just cut them a check for 6k and walk away. Have you tried Carvana, Autonation, Carmax and see what their offers are?

Hypothetically, if I was in a situation where the difference between the trade-in offer and residual was more than my remaining payments, couldn't I make a lump sum equal to the remaining payments and walk away?

 

[Ngkgb]

Hypothetically, if I was in a situation where the difference between the trade-in offer and residual was more than my remaining payments, couldn't I make a lump sum equal to the remaining payments and walk away?

The residual and payoff are two different things. To have equity your trade in offer will have to be more than the the lease payoff.

 

[iamnid]

The residual and payoff are two different things. To have equity your trade in offer will have to be more than the the lease payoff.

Understood but if there's negative equity I'll have the option to make all payments

 

[Kidentist]

So hypothetical question:
If I chose to "end my lease early" (due to end in June 2027, not planning on keeping the truck), and my lease is only $238 on a truck with 18K miles....chances are I would just need to pay the remainder of the lease ????

 

[kelr316]

I sent an email to Rivian to basically ask the same. I uploaded my Tesla lease which does no end until 10/2027. My original email for a order invite was going to be Dec-Feb (also said the Launch Edition would still be available), now my approximate order window has been bumped up to Aug-Sept. I will not be ready to order that soon due to the time until end of my current lease expiration, so I was wondering what my options will be.

 

[Spursfaninwa]

get a buy bid from Rivian or another dealer that can offer as much money as close to the buyout from the lease.
For instance. Carmax offers $60k and Rivian $57k.
The lease buyout (with residual and remaining payments)

Let's assume for illustration purposes the buyout is $63k.
You simply inform Chase you want to have a dealer or Rivian location buyout your lease and you make the difference up in cash so the title is available as soon as possible.
Or have someone assume your lease if Chase allows that

they will have to qualify credit and income

 

[RWerksman]

I exited my R1T lease early by selling it directly to Carvana. I was offered slight more than the immediate buy out price.

 

[R1SFamilyGuy]

In a similar boat with April 2027 lease expiry. My third party sale price/market value is more than the Chase app buyout value. I wonder if it will be adjusted down but I doubt it after reading all the posts here.

Real kicker for me is I am at nearly 30k of the 36k miles and have 8 months left. I do have a gas car that I want to replace so a little overwhelmed rn about making a decision

 

[iamnid]

For anyone who is still wondering, here is what I have learned. Rivian doesn't assist with this in any way -- the lease is held through Chase bank. It seems like you have the option of making all of your remaining payments to get out of the lease (About $10,000 in my situation) OR you can ask Chase for a buyout estimate and choose to buy the vehicle and then sell it (about $2,000 difference in my situation). This requires time though as you have to transfer ownership through the DMV before you can re-sell it and there may be taxes etc. depending on where you live. Even easier, I contacted Carvana (but there are other similar companies) and they can buy the vehicle directly from Chase -- I'd pay the difference between what they want to offer me for my vehicle and what Chase gives as a buyout.

I'm currently 2+ months out from my R2 (Aug-Sept invite estimate) so my numbers are likely to change as I add more miles, make more lease payments etc. But good to know it won't be a huge financial hit.

Depending on your situation, you might have some equity and make some money on the buyout.

Sponsored