FYI: R1S trade-in quote from Rivian = $69.5K

[NineElectrics]

For those looking to upgrade to a dual motor or max pack, you may be curious to know that Rivian is offering roughly $69.5K for a year old Launch Edition R1S with 22K miles.

Sometimes there is a state sales tax credit available when trading in to a dealer as part of a new car sale, but I don't know if that applies to Rivian, given that they aren't officially a local dealer. So perhaps in this case there is no advantage to trading it in, aside from convenience.

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[doit82]

I presume it is like tesla and in that case i did receive a tax break trading my 3 for a Y a couple years ago in VT.

 

[windblowlc]

Sometimes there is a state sales tax credit available when trading in to a dealer as part of a new car sale, but I don't know if that applies to Rivian, given that they aren't officially a local dealer. So perhaps in this case there is no advantage to trading it in, aside from convenience.

You will get trade-in sales tax credit if your state support it. It's not Rivian specific.

 

[NineElectrics]

You will get trade-in sales tax credit if your state support it. It's not Rivian specific.

In some states you don’t get the credit for a private party sale. Because Rivian isn’t a dealer, are they private party?

Perhaps I would get a private party tax credit with anyone if I were bartering with them, or had an in-kind purchase through them. That would be nice.

 

[Redmond Chad]

For those looking to upgrade to a dual motor or max pack, you may be curious to know that Rivian is offering roughly $69.5K for a year old Launch Edition R1S with 22K miles.

Thanks for the info - for I too have a Launch Edition R1S and have considered trading it in for a max pack...but Rivian won't give me a trade-in value unless I buy the new car first.

That quote is making me want to stick with my current vehicle.

Sometimes there is a state sales tax credit available when trading in to a dealer as part of a new car sale, but I don't know if that applies to Rivian, given that they aren't officially a local dealer.

I'm in Washington, which has such a credit. When I bought the R1S I got the credit for trading in my Model Y.

 

[NineElectrics]

Thanks for the info - for I too have a Launch Edition R1S and have considered trading it in for a max pack...but Rivian won't give me a trade-in value unless I buy the new car first.

Exactly. You have to give Rivian $1000, which is non-refundable, before they will even give you the trade-in quote. Even my evil local dealerships won’t make me do that.

 

[NineElectrics]

I'm in Washington, which has such a credit. When I bought the R1S I got the credit for trading in my Model Y.

I suppose it doesn’t matter for cheaper leases: if the lease payments total less than $45K, WA doesn’t charge sales tax on an EV lease. I wonder what happens to the credit then.

 

[windblowlc]

In some states you don’t get the credit for a private party sale. Because Rivian isn’t a dealer, are they private party?

Perhaps I would get a private party tax credit with anyone if I were bartering with them, or had an in-kind purchase through them. That would be nice.

Not an issue. A Rivian sale is not a private party sale. You get full tax credit for a trade-in if it's included in a sale.

 

[Tr4ckD4ys]

Is nobody going to mention anything about the horrid depreciation on these things?

 

[emoore]

Is nobody going to mention anything about the horrid depreciation on these things?

It's an expensive vehicle so of course there is a steep depreciation. Go look at Mercedes, BMW, Audi, etc. But $69k for a year old vehicle isn't too bad.

 

[Tr4ckD4ys]

It's an expensive vehicle so of course there is a steep depreciation. Go look at Mercedes, BMW, Audi, etc. But $69k for a year old vehicle isn't too bad.

I think it’s bad. At least in my books, having extensive experience with the brands you’re referring to. Lucky I don’t need to worry about that for at least 5 years (which is the minimum time I’m planning on keeping the vehicle).

High-priced BMWs depreciate on average 17-23% in Year 1 and about 40-50% by year 5. So the Rivian is a good chunk worse than that.

 

[NineElectrics]

It's an expensive vehicle so of course there is a steep depreciation. Go look at Mercedes, BMW, Audi, etc. But $69k for a year old vehicle isn't too bad.

For reference, this car cost $77,450 new. To buy it today, though, would cost $94,500. So we're at 74% of replacement cost.

 

[DaveA]

$69.5 isn't a bad value if you are a pre-price hike owner looking to trade in. Definitely a sh** deal if you bought a year ago at $90-95k.

 

[jjswan33]

$69.5 isn't a bad value if you are a pre-price hike owner looking to trade in. Definitely a sh** deal if you bought a year ago at $90-95k.

I don't really think so actually or at least I don't agree. Any vehicle will lose 20% of it's value in the first year and this one has high miles for a 1 year old car. Then remember they are not giving retail value for trade-ins.

 

[emoore]

I think it’s bad. At least in my books, having extensive experience with the brands you’re referring to. Lucky I don’t need to worry about that for at least 5 years (which is the minimum time I’m planning on keeping the vehicle).

High-priced BMWs depreciate on average 17-23% in Year 1 and about 40-50% by year 5. So the Rivian is a good chunk worse than that.

Are the high priced BMWs the value of the car or the dealer trade in. Don't forget this is like a dealer trade in and it's 27% depreciation after a year. Private party probably would be close to 20-23%.

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