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Gamma rays

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I didn't realize that anticipating a better than 3% return on investments is such a bold strategy.
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
 

kurtlikevonnegut

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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
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.
 

Kmann1994

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Let’s just compromise here and say nobody needs to justify HOW they’re buying their Rivian to anyone. It doesn’t matter how you get it, as long as we all get one and are enjoying them at the end of the day ?
 

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svet-am

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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.
 

Autolycus

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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.
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.

You are most definitely not always better off using your car as the collateral for leveraged investing.
 

dixosw

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My financial advisor recommended spending my money on fast cars and women…but in an annuity.
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."
 

Sgt Beavis

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I'll second PenFed, they've done me right over the years.
Another PenFed recommendation here. Currently at 1.99% for 60 months. 3.39% for 72.

USAA is 1.89% for 60 and 2.29% for 72 months as long as you do an auto payment plan.
 

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TAZ

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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.
It's interesting because yesterday CO did appear but it's gone today.
Rivian R1T R1S Configurator Updated with Payment Estimator Screen Shot 2021-09-30 at 4.56.13 PM
 

CommodoreAmiga

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The sales tax calculated for North Carolina looks to be waaay off; more than double what it should be. Vehicles are taxed at 3% but rivian seems to be doing almost 7% in the calculator.
 

Chris S

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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?
My 3 car payments are @ 1.99%, 2.19%, and 2.45%. My Rivian s/b at the lower end of that range.
 

what_the_truck

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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.
CVRP doesn't apply because of the $60k MSRP cap (as others have noted)

Clean Fuel Rewards likely doesn't apply because it's for light duty vehicles (<8500 lbs GVWR). I think that would be the same for CVRP, even if there was a lower MSRP trim.

Also, CFR is changing to $750 next month, so missing out on less ;)
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