15 state deal exclusive for now.
Rivian has recently expanded its leasing options to now include the Rivian R1S model, providing customers with a convenient way to obtain the electric seven-seater. Initially launched for the R1T pickup truck in November, this leasing opportunity is currently only available in 15 states such as California, Florida, New York, and Texas. However, Rivian has expressed intentions to gradually expand into other states in the future.
If the idea of leasing a Rivian is appealing to you, what information do you need to be aware of? According to the manufacturer, customers can still take advantage of the $7,500 initial cost deduction, which will be credited towards the total cost of the vehicle when leasing.
According to Rivian, there are numerous benefits to considering a lease for an R1T or R1S vehicle, such as the potential for a reduced monthly payment.
In addition, the increased sense of reassurance that accompanies operating a brand-new automobile (including a warranty) every couple of years is highly valuable to certain customers. Nevertheless, there are drawbacks.
When considering whether to make a cash purchase or finance a Rivian, there is no need for concern about mileage restrictions. Additionally, you can freely venture off-road without the added stress of accruing bothersome wear and tear charges. After all, what’s the point of purchasing a Rivian if you’re not planning on pushing its limits and embarking on outdoor adventures?
According to Rivian, individuals who are deemed “well-qualified lessees” have the opportunity to lease a vehicle for approximately $940 per month. This offer is specifically for the R1T Adventure Package and requires a 36-month contract with a maximum mileage limit of 30,000 miles.
According to Rivian, in order for customers to receive a monthly payment of $940, the cost of the vehicle (excluding dealer options) must be $102,800. This amount includes the Dual Motor Performance AWD setup, Max battery pack, 21-inch wheels, and additional upgrades such as a premium interior and specialty wheels and paint.
The total due at signing is $7,835, which includes a capitalized cost reduction of $6,000, a first monthly payment of $940, and an acquisition fee of $895. There is no security deposit required, however, Rivian mentions that not all customers may be eligible for this exemption.
The option of leasing is limited to specific configurations. Prospective clients can simply enter their zip codes to locate lease options for eligible vehicles in their vicinity. After conducting a search in multiple states, we discovered that an R1S lease can be delivered within one to two weeks, with monthly installments ranging from approximately $1,070 to $1,260.
It should be observed that leasing a Tesla Model X, which comes with a seven-seater option, will total approximately $1,324 per month under the same terms and conditions.