Lease language

[planetx88]

does anyone have lease language for gen 2 vehicles they can share (does that break any rules? I dont think so?)? My understanding is rivian basically gives you a 48 hour window for an agreement before delivery, which I'm really not a fan of, and have never heard of. Seems like shady high pressure sales tactics really. I know they will be different for everyone, just trying to get a sense of what might be hiding in there.

Leasing seems like they really want you to turn in the keys and walk away (or roll into an r2) at 36 months with a residual so high. Do you all think the high rent fee is worth it if the total cost of ownership for three years is relatively low? I feel like in giving away the car I'm trading in for free. Folks are seeing an MF around .0028 to .0035?

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[Electrified Outdoors]

Rivian leasing is done through Chase. I don't have the leasing language per se but I have read of others having a higher money factor on Gen2. Honestly, I wish Rivian was a little more transparent here. Tesla was the same with their leasing but if you pressed them they would tell you the residual and money factor of their leases....I haven't heard of any such luck with Rivian.

Its not a good look for Rivian to require the 1k deposit and then have the customer go all the way through the process before finding out the terms. Rivian should be transparent with all the terms with the caveat that they are subject to change based on credit and date of delivery etc.

Rivian did come out with a trade in estimator which I think was really good of them to do. Will have to wait and see. FWIW you can do some quick math by calculating the lease payment as a percentage of the MSRP. 1% is usually a pretty good lease deal....not a financial advisor though.

Their lease estimates also don't include any state sales tax of course.

 

[planetx88]

The guide did actually give me the MF. It was .00334, over 8%, yeesh. Also not that hard to guess at given the rest of the lease information on LeaseHackr.
I'm less worried about the math, there are some things I'd like to press Chase/rivian on, but my concern is the rest of the language of the lease. The guide claims its all pretty standard, which is nice, but as one guy I used to work for liked to say "a pinky swear and $1.50 will buy you a coffee at the gas station.". I wonder if I can make an end-around and go to chase for lease language as well. worth a shot I suppose.

Mostly I was wondering if anyone is willing and able to post up examples, with personal info redacted.

Trade estimator is indeed nice, and higher than what local dealerships are going to get me by a few banjamins, frankly. All in I end up at about 30k total cost of ownership at 0 down, ~4k at signing and as you suggest actually a little under 1% of msrp/month.

 

[blacknight]

Rivian to require the 1k deposit

When I reserved my Tri-Max, I was required to put down a $3,000 deposit

My plan is also to lease for 36 months, then buy it at the end. I have bought quite a few cars, but this will be my first time leasing.

My delivery window still states OCT-NOV timeframe, so I'm hoping to hear from Rivian by mid-September on paperwork.

 

[GeauxRivian]

It seems as if the MF on GEN 2s are much higher than Gen 1. I pickup this Wednesday and my MF which my guide confirmed is .00036.

 

[planetx88]

I assume it is a gen 2 you are taking delivery on? .00036 is very low. You sure it isnt .0036? .00036 is a .86% apr, excepionally low.

 

[bender]

Do you want all the disclosure language?

 

[bender]

Do you want all the disclosure language?

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