Rivian Lease Deals are extremely favorable right now

[jjswan33]

wow! hard to beat that! I wonder what the dual rent charge is currently with the end of month/quarter incentive?

The QM has the additional $70/mo discount so my educated guess is the rent charge on a similarly priced R1 would be around $2500. Still pretty damn good

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[beaker]

My only complaint is they wouldn't capitalize the sales tax and fees as would have been beneficial with an effectively zero interest rate. It is common practice for dealers in my state but Rivian acted like they'd never heard of such a thing.

 

[b_ack51]

My only complaint is they wouldn't capitalize the sales tax and fees as would have been beneficial with an effectively zero interest rate. It is common practice for dealers in my state but Rivian acted like they'd never heard of such a thing.

How much did you put in down payment?
Is the cap cost reduction the ev tax credit + $1000 reserve fee you paid already?

Also in Ohio, trying to figure out how much my due at signing will be vs what they are estimating. I was planning on putting 0 down and just paying taxes, acq fee, and other fees.

 

[beaker]

How much did you put in down payment?
Is the cap cost reduction the ev tax credit + $1000 reserve fee you paid already?

Also in Ohio, trying to figure out how much my due at signing will be vs what they are estimating. I was planning on putting 0 down and just paying taxes, acq fee, and other fees.

Just the 1k mandatory reserve.

Yes cap reduction of 8500 is the 7500ev + 1k reserve

 

[Riviot]

My only complaint is they wouldn't capitalize the sales tax and fees as would have been beneficial with an effectively zero interest rate. It is common practice for dealers in my state but Rivian acted like they'd never heard of such a thing.

Thanks for this!

Now someone with a voucher needs to supply the same thing.

 

[petersra]

Can anyone weigh in on this deal? It seems compared to the proposal above I’m getting a bad deal. I don’t really understand how the money factor and how it correlates to an interest rate works but the rental charge is quite high?

 

[beaker]

Can anyone weigh in on this deal? It seems compared to the proposal above I’m getting a bad deal. I don’t really understand how the money factor and how it correlates to an interest rate works but the rental charge is quite high?

What is the spec of the truck?

The best deals are 2023 R1T quad. I had planned to get a 2024 Dual but the 2023 Quad was cheaper.

 

[petersra]

It’s a 24, when I asked them about years initially the guide and sales person said the year didn’t matter. Your rental fee is dramatically less than this one. 42% of depreciation?

 

[beaker]

It’s a 24, when I asked them about years initially the guide and sales person said the year didn’t matter. Your rental fee is dramatically less than this one. 42% of depreciation?

23 vs 24 doesn't matter in terms of the features of the truck but it does matter on the deal - they are trying to blow out the 23's

 

[jjswan33]

It’s a 24, when I asked them about years initially the guide and sales person said the year didn’t matter. Your rental fee is dramatically less than this one. 42% of depreciation?

FWIW your rent fee ($8500) amounts to $236/mo, it's not a scraming deal like you can get on a QM right now but it's less than the rent charge on the 2024 Ioniq 5 I leased in December.

There are places on the interweb where you can calculate what that rent fee translates to in interest rate.

 

[petersra]

I guess that’s a 4.63% rate. Seems like a lot of interest to me for a vehicle that you have to give back after 3 years.

 

[Drathen]

My only complaint is they wouldn't capitalize the sales tax and fees as would have been beneficial with an effectively zero interest rate. It is common practice for dealers in my state but Rivian acted like they'd never heard of such a thing.

At what point in the lease process do you get to see this document? I’m at the point where I’m supposed to pay the amount due but I haven’t seen a lease agreement yet.

 

[ssbmx90]

At what point in the lease process do you get to see this document? I’m at the point where I’m supposed to pay the amount due but I haven’t seen a lease agreement yet.

This is supposed to be provided 1-2 days before delivery to sign. I still haven't received mine and delivery is tomorrow at 1pm.

 

[petersra]

At what point in the lease process do you get to see this document? I’m at the point where I’m supposed to pay the amount due but I haven’t seen a lease agreement yet.

I received mine the next day after I made that payment.

 

[Drathen]

I received mine the next day after I made that payment.

Just out of curiosity, were the numbers exactly the same as what you were quoted? The reason I ask is because beaker’s monthly payment is about $100 less than what I was quoted but his vehicle is a few grand more than mine which is also a 2023 RT1.

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