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So we encourage you to join (or start) special-interest and regional-based Rivian clubs at: https://www.rivianforums.com/forum/group-categories/clubs-groups.1/
Stanford Federal Credit Union has a similar deal. 1.79 for 60 months and below. Otherwise 2.29.
Not bold, but unless you plan to finance for 84 months (for some, that's still not a long enough horizon to put funds in the market), there are certainly risks associated with such strategy.I didn't realize that anticipating a better than 3% return on investments is such a bold strategy.
Risks, yes. There are risks every time you get in the car. For reference:Not bold, but unless you plan to finance for 84 months (for some, that's still not a long enough horizon to put funds in the market), there are certainly risks associated with such strategy.
GR
Umm... there have been at least two times in the last 20 years when there were periods of greater than 5 years when you would have been well behind in the market. Money in the market in April 2000 didn't get significant positive returns for over a decade. Investing in the stock market is not risk free, ergo it is not a guaranteed thing.Risks, yes. There are risks every time you get in the car. For reference:
If you put $80,000 into a passive investing fund that returns 5% average, you will have about $102,000 at the end of the 5 years.
If you take a loan for $80,000 at 3% interest, you'll pay about $6,000 in interest over 5 years.
So the opportunity cost for paying cash instead of taking the loan is about $16,000.
Even in a black swan event, the likelihood that you wouldn't at least break even after 5 years is incredibly low.
The former Manchester United footballer, George Best, famously said "I spent a lot of money on booze, birds (women) and fast cars. The rest I just squandered."My financial advisor recommended spending my money on fast cars and women…but in an annuity.
Another PenFed recommendation here. Currently at 1.99% for 60 months. 3.39% for 72.I'll second PenFed, they've done me right over the years.
It's interesting because yesterday CO did appear but it's gone today.Just had a chance to log in and look at it. Similar to the California folks, it only shows federal incentives, not the local and Colorado state ones.
My 3 car payments are @ 1.99%, 2.19%, and 2.45%. My Rivian s/b at the lower end of that range.The R1T will be the first vehicle I finance (my Tesla and one previous vehicle were leases). I've heard from friends that getting a car loan with a low sub-3% interest rate is a piece of cake as long as you have a good credit score, which I do.
Anyone else here have any experience with that? Is that true?
CVRP doesn't apply because of the $60k MSRP cap (as others have noted)It’s $2000 for the California Clean Vehicle Rebate Project (CVRP) which is a traditional tax rebate. The California Clean Fuel Reward is a $1500 reduction off the purchase price at the time you buy the vehicle. Tesla lists both options in their configurator, so I would expect Rivian to take advantage of both.