Hold off on accepting binding agreement with Rivian till House of Representative approves bill

[TNappen]

One man's opinion:

Accepting Rivian's binding purchase agreement is a bit premature till the Inflation Reduction Act (IRA) has been approved by Congress. Congress could amend bill to change the terms of the bill which could impact impact your eligibility to obtain the $7,500 IRC 30D federal EV tax credit.

If nothing changes then you can decide on accepting binding agreement from Rivian.

Sponsored

 

[TexasBob]

Sorry, but this is very bad advice. Your window to do this closes when the president signs, which could literally be any time after the House approves. Once the Bill is enacted you can no longer take advantage of the transition rule. It is gone for good. The House is not opening debate for any amendments, the Speaker has promised a straight up-or-down vote. If you dither your could easily miss the opportunity. If you seize the day, the most you are out is $100.

 

[AxelR]

I have a feeling the binding agreement still leave quite a bit of room for changes and such. Unless they remove the income cap there’s no point in waiting for me.
Oops I didn’t wait

 

[protamine]

You should do it 100% if:

1. You will purchase the vehicle (long-standing preorder)
2. You are set on a configuration
3. You make more than 300k a year

If your are these you have nothing to lose.

 

[Friscorays]

You should do it 100% if:

1. You will purchase the vehicle (long-standing preorder)
2. You are set on a configuration
3. You make more than 300k a year

4. Your configuration is over 80k

 

[electruck]

From a tax perspective, this agreement commits you to nothing regardless of what happens with the bill. You are merely committed to purchasing an R1 from Rivian or losing your $100. Depending on income, MSRP, and whatever waivers might (or might not) be put in place, it's entirely possible some people signing the agreement may still choose to leverage the new rules to take their $7500 at the time of sale.

 

[Dirty_B]

I have no idea what config I'll get, what the cost will be, when I'll get the opportunity to purchase... But hell yeah, $100 to lock in potential for $7500... Done within 2 mins of me getting the email from Tony today.

 

[tnawara]

I have a feeling the binding agreement still leave quite a bit of room for changes and such. Unless they remove the income cap there’s no point in waiting for me.
Oops I didn’t wait

I’m not sure which changes you mean, but if it’s changes to your reservation, you may be wrong:

“3. Order Changes. If you make changes to the Vehicle after the Order Date, you may lose eligibility for special edition models, your place in line for priority delivery, and/or be subject to potential price increases based on any pricing adjustments made since the Order Date.”

 

[AxelR]

Just words.
We checked our configuration just before signing. I don’t foresee making any changes.

 

[mgc0216]

You should do it 100% if:

1. You will purchase the vehicle (long-standing preorder)
2. You are set on a configuration
3. You make more than 300k a year

If your are these you have nothing to lose.

Everyone, regardless of income, will likely be affected by the bill since it has the provisions on battery sourcing,

 

[atebit]

4. Your configuration is over 80k

5. Don’t hurt Dick Jones

 

[Sattman69]

I have no idea what config I'll get, what the cost will be, when I'll get the opportunity to purchase... But hell yeah, $100 to lock in potential for $7500... Done within 2 mins of me getting the email from Tony today.

It really is a no brainer!

 

[COdogman]

4. Your configuration is over 80k

5. Rivian does not likely qualify under the new law’s battery sourcing requirements which affect all incomes.

 

[Zoidz]

Maximum $100 at risk and only if you decide not to buy. There's really no reason not to sign.

 

[Longreach]

5. Rivian does not likely qualify under the new law’s battery sourcing requirements which affect all incomes.

Sure would like to get a Rivian statement on whether the battery qualifies, especially for the lower 2023 requirement.

They should know that right now from their current suppliers, so why the obfuscation?

Sponsored