Leasing questions!

[Vegeta]

Hey gang. Long time member here, finally getting ready to make the jump into EV. I’m looking at relocating to a state with very high gas prices ($5+) and I think it would be wise to part ways with my raptor. Looking into leasing an R1T, dual or performance dual motor, standard+, all terrain up grade. On the lease payment calculator it states that Rivian will apply a $7,500 credit, but isn’t the truck too expensive to qualify? Also, can I order a specific truck to my liking and lease it opposed to financing? Sorry for all of the questions, I appreciate any help.

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[DuoRivians]

Any lease will receive the $7500 credit, toward your lease capitalized cost reduction. There is no msrp or income limit on leases

 

[Vegeta]

Any lease will receive the $7500 credit, toward your lease capitalized cost reduction. There is no msrp or income limit on leases

Oh that’s sweet. Rivian guy during my demo drive said they also accept trade ins, how are those usually? Lowball offers? And could you point me to some residual values for R1T configurations? I’d probably buy the lease out

 

[DuoRivians]

Oh that’s sweet. Rivian guy during my demo drive said they also accept trade ins, how are those usually? Lowball offers? And could you point me to some residual values for R1T configurations? I’d probably buy the lease out

Residuals are around 60-65%. Higher for quads. If you can get a 2023 year, I think Rivian is still offering a low lease apr on them.

Don’t do trade-ins with Rivian. Go third party or Carvana/KBB instant offer.

 

[Eric9610]

Residuals range from 60%-67% on the R1T with the Quad motor Large pack having the best residual. Also if you can get a 2023 model you will have a significant savings over a 2024. Currently you can get a 2023 R1T Quad Motor Large battery for the same price as your preferred spec. Also from what i have heard if you order a custom spec then change to a car in stock they will discount paint and even interior color to move cars quickly.

My dad wanted to know trade in price on his Model Y and they quoted him the blue book price. About $2k less than CarMax. I believe you can go to a service center and let them know you are thinking to trade your raptor and ask them for a quote.

 

[Vegeta]

Hell yeah. Thank you all for the info

 

[Eric9610]

Here are comparable units one being your spec the other a 2023 QM. The QM is $23 a month cheaper.

 

[jjswan33]

Here are comparable units one being your spec the other a 2023 QM. The QM is $23 a month cheaper.

2023 models have a $70 mo discount that 2024s don't have. Maybe even larger discount on the QM.

 

[Vegeta]

When it comes to cash due at signing, the calculator on the Rivian site kinda lets you input whatever you want as down payment. What’s the typical due at signing amount?

 

[jjswan33]

When it comes to cash due at signing, the calculator on the Rivian site kinda lets you input whatever you want as down payment. What’s the typical due at signing amount?

That is going to depend on tax and license in your state. Their calculator doesn't include that or the destination fee of $1800.

 

[Vegeta]

That is going to depend on tax and license in your state. Their calculator also doesn't include that or the destination fee of $1800.

Ah so it’s more dependent on T&L not down payment?

 

[jjswan33]

Ah so it’s more dependent on T&L not down payment?

Yeah I don't think they will let you roll tax and license into your payment. Otherwise your down payment will determine your monthly payment, most recommend putting as little down as possible.

 

[Vegeta]

Yeah I don't think they will let you roll tax and license into your payment. Otherwise your down payment will determine your monthly payment, most recommend putting as little down as possible.

Yeah I’d rather not Put much down if I am to lease. Also, does Rivian install their wall/home charger?

 

[jjswan33]

Yeah I’d rather not Put much down if I am to lease. Also, does Rivian install their wall/home charger?

I think they partner with a company but most likely cheaper to use a local electrician, especially if you know somebody. Cheapest method would be to install a Nema 14-50 outlet and use the included portable charger. For the fastest charging you would want the Rivian charger or similar such as the Chargepoint Home Flex/Tesla chargers that are also capable of being hardwired to a 60A circuit.

 

[Vegeta]

Yeah I’d rather not Put much down if I am to lease. Also, does Rivian install their wall/home charger?

Also is it possible to register the vehicle in a state with no sales tax like Oregon lol

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