Rivian Financing question

[DFWTXR1S]

Hello all,
It’s finally time for me to take delivery!

quick question about the rivian financing option. I want to use rivian financing and do a 48 month offer. I want the option to pay down the loan quicker than 48 months however. Is that possible with rivian financing?

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[shandel]

If you pay off the loan quicker than the term then you don't pay the interest for all of those later months.

 

[Stevetom84]

I don’t have financing through Rivian (I think they use Chase?), but I would think you should be able to pay extra. One word of caution is to make sure any extra payments are going towards principal. I’ve heard of some banks/lenders apply extra payments to future payments and not the principal balance.

 

[bhopkins]

Yes, you can make extra principal only payments. As noted above, make sure you use the Chase website and mark it as principal only or they will apply it to future payments,.

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