Lease with immediate buyout?

[RivianG2R1S2024]

OK, so what I’ve gathered here so far is:

1. Zero down
2. 10k miles
3. Check online and call Chase repeatedly

estimated savings: 5-6k

I paid about 2100 in fees when I leased. What fees if any are required when you buy out the vehicle? That should be deducted from the estimated savings.

I understand there’s some good promotions going on like $3000 off under the trade in value if you want the Dual Max, combine that with $7500, I think that’s a decent overall discount. Any other savings or promotions we should be aware of?

I’ve got my credit union loan ready, 5-6% for 72-84 months.

will probably put a “down payment” of 10k when buying out for hopefully a 1k monthly payment, better than a lot of large, luxury 3 row SUVs out there. Fuel and maintenance savings will make the R1S a steal in 2-3 years time.

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[RivianZak]

Does getting a loan for a lease buyout work the same as getting a loan to purchase a used car?

 

[Rade]

I had planned to take the money out of my savings when the lease came to term in 3 years. With the way the markets are tanking, I pulled the money out after 5 months and paid off the lease.

I issue now is with the title and registration. Both are still in the leasing companies name, as opposed to if you finance - the title and registration are in your name with the bank as the lien holder. I have the documentation from the Chase (Rivian lease agent) that I paid it off, got the title and had various things notarized to take to the RMV in a couple weeks.

 

[hammick]

Does getting a loan for a lease buyout work the same as getting a loan to purchase a used car?

Yes. The rates are not good.

 

[303TP]

All,

Just adding my lease buyout story here. Long story short, I just paid off the lease a few days ago (Apr 2025). Approximate savings of around $5.5k... depending on what you compare to estimate your savings (not including the additional $6k incentive savings irrespective of purchase method).

Long story long: Had I not solidly procrastinated, I could have completed the buyout process within 15 days of taking delivery. The lease account appeared within my Chase app in 4 days with ability to immediatly request and display a buyout quote based on zipcode. Catch is, you have to call Chase to complete the buyout process which includes being mailed a paper letter with instructions. My mistake was procrastination... I delayed calling Chase by a solid 2 weeks... which is when I discovered they needed to send me a paper letter. This forced me to make another lease payment which reduced my bottom line savings.

The buyout process options were to submit payment via certified funds or personal check.

Bottom line, had I diligently pursued the buyout from the get-go, I could have completed the whole process within 15 days of delivery. The additional lease payment took another few hundred off my total savings.

I suppose it was worth it to jump through the hoops. I did go back and forth on the plan and ultimately decided it was best to lock in the intangible savings of not paying future rent or interest.

Any questions on my experience, let me know! Good luck!

TP

Referral: PATRICK4709311

 

[hammick]

With our lease in Montana we just called Chase/Rivian to get the payoff and then wired the money. Didn't need to wait on any paper from Chase. We paid it off a little over a week after taking delivery. Our plates didn't show up until about 6 weeks after paying it off and just received our title and lien release today.

 

[EV-CAL75]

Can anyone of you share the buyout price of your leased vehicles? I understand that it will vary from 60-65 +- a few % from the MSRP. Just wanted to know some rear world numbers. Appreciate it! What do you all think of the current promotional offer? 7500+3000? Thank you in advance!

 

[303TP]

With our lease in Montana we just called Chase/Rivian to get the payoff and then wired the money. Didn't need to wait on any paper from Chase. We paid it off a little over a week after taking delivery. Our plates didn't show up until about 6 weeks after paying it off and just received our title and lien release today.

I probably could have done that over the phone as well. However, that agent on that day didn't offer and there was a bit of a language barrier. Seemed best to wait for written wire instructions prior to sending that large of a sum!

 

[303TP]

Can anyone of you share the buyout price of your leased vehicles? I understand that it will vary from 60-65 +- a few % from the MSRP. Just wanted to know some rear world numbers. Appreciate it! What do you all think of the current promotional offer? 7500+3000? Thank you in advance!

When you say buyout, I think you're asking for the residual value in the lease contract? Based on a Silver R1T Trimotor w/ upgraded black street wheels, mine was right around $60.6k. That said, the above discussion is in reference to an imediate buyout at the very beginning of the lease.

The deals I've seen in the last few months are the 7500+6000 and the 7500+3000. I've not seen much better offers other than when Rivian was clearing Gen1 inventory and offering low rates on leases. The way the deal worked for me, the 6000/3000 came directly off the MSRP, while the 7500 and the downpayment was a capitalized cost reduction internal to the lease.

Hope this helps!

 

[EV-CAL75]

Thank you 303TP! What was your MSRP on the Trimotor? Yes I meant residual. I've read other posts stating that we can save a good $5000+ if we were to go through the buyout (ASAP). I don't know too much about math but seems reasonable.

 

[RDoNpuf]

I just bought a 2025 R1S via lease and early payoff. The amount you save is roughly the tax credit. Hope this helps w/ future lease to buyout customers. There wasn't a lot of information on the lease docs or from the Rivian guide to assure me that I would be saving.

Directly bought

Car	85,400.00
Destination	1,800.00
title fees	50.00
reg fees	32.50
acq fee	895.00
dealer fee	347.00
licence fee	80.00
plate fee	25.00
tax	7,686.00
Total Car Cost	96,315.50

Leased (actual numbers)

Payoff amt	83,764.10
Down	5,372.57
Total Cost (Actual)	89,136.67

 

[mbaran]

All,

Just adding my lease buyout story here. Long story short, I just paid off the lease a few days ago (Apr 2025). Approximate savings of around $5.5k... depending on what you compare to estimate your savings (not including the additional $6k incentive savings irrespective of purchase method).

Long story long: Had I not solidly procrastinated, I could have completed the buyout process within 15 days of taking delivery. The lease account appeared within my Chase app in 4 days with ability to immediatly request and display a buyout quote based on zipcode. Catch is, you have to call Chase to complete the buyout process which includes being mailed a paper letter with instructions. My mistake was procrastination... I delayed calling Chase by a solid 2 weeks... which is when I discovered they needed to send me a paper letter. This forced me to make another lease payment which reduced my bottom line savings.

The buyout process options were to submit payment via certified funds or personal check.

Bottom line, had I diligently pursued the buyout from the get-go, I could have completed the whole process within 15 days of delivery. The additional lease payment took another few hundred off my total savings.

I suppose it was worth it to jump through the hoops. I did go back and forth on the plan and ultimately decided it was best to lock in the intangible savings of not paying future rent or interest.

Any questions on my experience, let me know! Good luck!

TP

Referral: PATRICK4709311

Just a heads up for anyone who sees this, you can get an official payoff letter from them via fax immediately. You can use FaxBurner.com to get a free number that's good for 24 hours to receive the 5 page letter from them. It includes the Odometer Statement so there's nothing left that needs to be mailed from Chase/Rivian.

 

[Gentilly7]

Just a heads up for anyone who sees this, you can get an official payoff letter from them via fax immediately. You can use FaxBurner.com to get a free number that's good for 24 hours to receive the 5 page letter from them. It includes the Odometer Statement so there's nothing left that needs to be mailed from Chase/Rivian.

Great info! Did you get them to fax the payoff letter the same day you signed the lease?

 

[mbaran]

Great info! Did you get them to fax the payoff letter the same day you signed the lease?

I had the payoff and account set up about 48 hours after leasing the car but waited about a week due to travel.

We signed on 5/5, had acct setup by 5/7. I called for the fax yesterday 5/16.

 

[Gentilly7]

I had the payoff and account set up about 48 hours after buying the car but waited about a week due to travel.

Great info, I will be taking delivery soon. Will do the same.

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