I had placed a deposit on a 4XE GC and have a Wrangler 4XE on order (VIN/VON issued) and my intention is to lease the wrangler. I’ve since opted to purchase a Rivian R1S instead of the GC and have placed a pre-order.
The question surrounds the wrangler, if I like the R1S and decide to move forward with their Truck version. Rivian accepts trades, if after 6 months of leasing the Wrangler I decide to trade it against the Rivian truck, does CCAP allow that? I believe there are restrictions on Vroom and Carvana, wasn’t sure as to an actual competitor’s dealership.
If I’m getting the Wrangler at 9.25% off MSRP and having the $7500 tax credit factored into the lease. Wouldn’t that tax credit benefit me on the trade 6mo-year later against the Rivian? That’s assuming 4Xe’s hold their value …
Appreciate the help, big gamble and didn’t want to make any assumptions.
Currently, yes, you would be able to trade in a CCAP lease to get into a different vehicle. The vehicle would be purchased from CCAP, as you’re legally not the owner. Of course, this is under the assumption that the dealer wishes to purchase said vehicle. The one caveat with this, for most states, is that the typical sales tax waiver we would see (in the instance of a traditionally purchased/financed vehicle) does not apply with a lease.
I would encourage you to become more familiar with leasing before you enter into a contractual agreement, as it seems you’re not fully aware of what it entails. I believe this is often how leasing gets a negative connotation with people.
CCAP is presently allowing 3rd party lease buyouts, so you should be able to trade into a dealer of your choice. Keep in mind, that can change at any time. I also seriously doubt Rivian is gonna offer top market value on a trade-in for this to make sense, plus, I wouldn’t count on getting into that R1S for another year (at least) if you just got your reservation in now.
You have about a zero chance of receiving your Rivian within the next 6 months. I wouldn’t be shocked if it doesn’t get produced until 2023 at best, IMO.
Well people need to be early adopters. Nobody got anywhere by not innovating. While it may not be for some people, others are willing to front the money and risk.
Was thinking of pre ordering a Rivian. For anyone who orders now, the forums are estimating probably 2024 delivery. There are over 70k pre orders, not to mention all the ones that need to be made for Amazon as well.
