R1S lease payments dropped... after I started my lease

[golden_frog]

Interesting. Mine are drastically better. The residual on R1S quad motor is 79% which is $77,064.50 and money factor is 0.00334. Not sure if MF is good or not

Residual on my R1S quad is 69%, not sure how you managed that

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[djsider2]

I’ve seen the high residuals for the 24 months. Are those residuals for 36? 79% at 36 months is crazy

 

[golden_frog]

Ohhh right. He must be 79% for 2 years. 69 for 3

 

[sambo]

This a little off subject, I was looking at Leasing, does anyone know what the payoff will be after 3 years, if you buy a ~~$90,000 R1S before the $7500 deduction?

 

[sambo]

I'm right in the middle of the purchase process...waiting for a delivery appointment later this month, so happy to see the drop in lease prices.

BUT, despite already submitting the credit app and having the lease approved, I have not been able to get anyone to disclose the residial, MF or any of the financial terms other than cash at signing and monthly payment, which is VERY frustrating.

Especially since it looks like the quad motor lease payment may be less (or at least equal to) a equivalent dual motor configuration, despite the $8k price difference.

I can't get any actual answers out of my Rivian guide...not sure if it's just "my" guide or if they're totally unequipped to provide any info. But I'd like that info before I take delivery, as I'd happily swap and lease more car for less money if that was the case.

Does anyone have any of the revised economics behind their leases? And...how helpful was your guide in the process?

Let me know what you hear about the residual? I was looking at Leasing, does anyone know what the payoff will be after 3 years, if you buy a ~~$90,000 R1S before the $7500 deduction?

 

[Dave S]

It's been like pulling teeth. Somehow, it still does seem that the residual is higher for a QM, as apples to apples configurations between QM and DM lease at nearly the same price. But I have not been able to get anyone with any actual knowledge to confirm that.

For me, I personally prefer the extra mileage of the DM over the extra 0-60 speed of the QM (4.5 sec is plenty enough for my needs). And I'm not likely to be drifting on any sand dunes, so the extra drive modes aren't all that interesting. Hence sticking with the DM.

The $7500 deduction shouldn't impact the residual value...that's on the payment side of the equation, not the equipment value side.

That said, my 85,800 configuration with 36mo / 15k mi has a residual of 63% ($54,054).

Hope that helps.

 

[ksurfier]

Interesting. Mine are drastically better. The residual on R1S quad motor is 79% which is $77,064.50 and money factor is 0.00334. Not sure if MF is good or not

MF works out to 8% interest rate (2400 x 0.0034), not good but prob. average for today's rates...maybe 1-2% above the best rates from credit unions...

 

[Dave S]

Interesting. Mine are drastically better. The residual on R1S quad motor is 79% which is $77,064.50 and money factor is 0.00334. Not sure if MF is good or not

@mannybalboa

For clarity for everyone, make sure you're doing an apples to apples comparison. Manny's 79% residual looks to be on a 24 month lease and 12,000 mi. The example I gave is a 36 month lease / 15k mi.

So yes, the 12 month with less mileage will have a higher residual calculation.

 

[Eric9610]

I believe the QM residual is higher due to warranty be longer.

 

[golden_frog]

96k quad motor buyout price with 3 year / 10,000 miles per year is 67k. I don't think it will be worth that. KBB says the value of my R1T quad with 20k miles, 1.5 years old is 60k

 

[Dave S]

96k quad motor buyout price with 3 year / 10,000 miles per year is 67k. I don't think it will be worth that. KBB says the value of my R1T quad with 20k miles, 1.5 years old is 60k

And that's why you just hand it back to them at the end of the lease and start fresh with a new one. Battery longevity and tech will be significantly more advanced by then anyway, and you'll want those new upgrades and features.

 

[golden_frog]

Definitely. If the 7500 federal rebate goes away in 3 years for leasing, we'll just purchase a lower trim model.

 

[Galve2000]

is the $7,500 tax credit added to the residual at the end of the lease?

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