R1T Trade in Value vs R2 Performance Price

[HokieBird7980]

Well I think I may get an early invite to place my order for the R2 given my first day reservation and having owned two prior R1T's, the current one being a 2024 Quad fully loaded, off road package and even factory full Stealth PPF. Sticker was roughly $96k. Given the R2 pricing with the performance package fully loaded is in mid 60's, thought maybe was going to be nearly even trade. I only have 14,500 miles on the R1T. So i went online at Rivian to get a trade in quote and i was a bit shocked that it only came in at $56,870, so 40% off in two years (3 years by model since R2 will be 27 model year). So then i checked Edmunds and got the below value which is $69k private party and $76k dealer list. This trade in value was put in as if it were going against an R1 since Rivian is not giving trade in values until June 9th, but if it's this low, I may have to rethink my trade in strategy. If you're curious about your existing R1 value as a trade, you're only 9 days away from finding out, or you can do it now as the trade in value is good for 14 days. Thought it would at least be closer to the Edmunds clean value.

Your Edmunds Appraisal​

We use data from a wide variety of sources to provide you with your Edmunds appraisal report. This is not a firm offer on your car.​

2024 Rivian R1T Adventure 4dr Crew Cab AWD SB w/Quad-Motor, Large Pack (electric DD)	See your dashboard​

	rough	average	clean	outstanding
TRADE-IN	$58,836	$60,626	$62,003	$62,829
PRIVATE PARTY	$64,120	$66,342	$68,051	$69,077

True Market Value®
Trade-in	$62,829
Dealer Retail	$76,146
Private Party Sale	$69,077

Customized True Market Value Prices®
Trade-in​
National Base Price	$55,607
Optional Equipment	$2,041
Color Adjustment - El Cap Granite	$15
Regional Adjustment (zip 28277)	$622
Mileage Adjustment - 14500 miles	$2,340
Condition Adjustment - Outstanding	$2,203
Total	$62,829

Private Party​
National Base Price	$60,850
Optional Equipment	$2,234
Color Adjustment - El Cap Granite	$16
Regional Adjustment (zip 28277)	$681
Mileage Adjustment - 14500 miles	$2,561
Condition Adjustment - Outstanding	$2,735
Total	$69,077

Dealer Retail​
National Base Price	$66,763
Optional Equipment	$2,452
Color Adjustment - El Cap Granite	$17
Regional Adjustment (zip 28277)	$747
Mileage Adjustment - 14500 miles	$2,810
Condition Adjustment - Outstanding	$3,357
Total	$76,146

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[SadHill]

Try Carvana and CarMax. They usually give a premium to EV’s

 

[DuoRivian]

Thanks for this information, interesting g there is a $13k difference between trade in and dealer resale. I wonder if VWLindsay could comment on whether that is typical.

 

[Great Gatsby]

Try Carvana and CarMax. They usually give a premium to EV’s

I'd echo this. I was actually able to sell mine above the KBB estimate for trade-in by a few thousands to CarMax.

 

[TheMac]

20% to 30% depreciation for mass produced vehicles in the first year is not unusual!

 

[CharonPDX]

It's also my understanding that Rivian always assumes the vehicle isn't in good shape, and will increase the offer upon physically seeing the vehicle.

But trade-ins will always be less than private party or even selling to one of the big used chains.

 

[the.phd]

Sold my R1T recently when I decided to get a used R1S instead of the R2. Rivian offered me $48k for a 2023 Dual Performance Max Pack with 25,000 miles on it. Carmax gave me $52k.

Rivian's trade in prices are low and their price on used vehicles for sale is way too high compared to the rest of the market.

 

[GreggVA]

Rivian's trade values are low across EV's. For fun I tried my MYP the other day and $4k less at Rivian versus Carvanna. BTW, my 2 year old MYP has had 40% depreciation.

Really missing that $7,500 EV credit right about now!

 

[computertom]

Rivian dropped their trade in for my 2022 Bronco Raptor with 17k miles roughly 5k in the last two months. Significantly lower than anyone else. Total nonstarter.

 

[Eric9610]

Just checked to see what my 2023 R1T QM would net and got a quote from Rivian for $49,750. Residual is $55k.

Just checked Carvana and it came back $500 less in value.

 

[SANZC02]

Rivian does not want to be in the used car business. Almost all of what they take in is wholesaled out so they take a hit on those transaction. They are only taking the trades as a customer convenience for those not wanting to sale on their own or through other buying sources.

The only people this really hurts are the ones in a state where they get sales tax credit on their own trade in.

 

[rodhx]

Rivian does not want to be in the used car business. Almost all of what they take in is wholesaled out so they take a hit on those transaction. They are only taking the trades as a customer convenience for those not wanting to sale on their own or through other buying sources.

The only people this really hurts are the ones in a state where they get sales tax credit on their own trade in.

Exactly this. The only trades Rivian can actually use are some Rivians for their pre-roamed inventory. Everything else is simply headed to auction.

 

[the.phd]

Wonder what will happen to R1 trade in values once the R2 launches. The market is gonna get flooded.

 

[rodhx]

Wonder what will happen to R1 trade in values once the R2 launches. The market is gonna get flooded.

Probably little to no direct impact. They are all still low volume vehicles and R2 is simply too small for many R1 owners. Personally I'm on the fence as to whether I can live with the huge hit in storage & usefulness if I trade my R1T for an R2, but the latest tech would be nice. However there is no way we would trade my wife's R1S to downsize.

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