Hey folks, currently doing some research on purchasing an EV truck. I don’t qualify for the $7500 incentive due to income, but dealers will roll this discount in to leases in the form of a downpayment.
My strategy is to do a lease to get the discount and do an early buyout in cash for the entirety of the lease plus the residual in the first month or so.
The goal is to save on money factor interest and just do this transaction like a cash purchase but taking advantage of the incentives.
Does anyone know if Ford or Rivian allows this? I’ve read that many places won’t let you buy out a lease early and will charge you the finance either way on the payout amount, maybe some penalties too?
the ideal situation is that I request a buyout amount and the number is the remainder of the lease sans the monthly interest.
In the abstract this makes sense. But if you qualify for Tesla/RAM conquest or get a private offer online then Lightning leases are very attractive. Like two consecutive leases could be cheaper than the depreciation from ownership over six years.
Rivian is tough to recommend for other reasons. There’s a non-trivial chance they don’t survive especially with Elon Musk’s influence over policy. Rivian values could crater if warranties and service centers vanish
True, Ford is the ‘safe’ option. AFAIK there isn’t much difference between model years that I could find, so maybe even used could be an option? What do you mean by ‘private offer’ online, you mean through a broker?
Do you really think Rivian is at Fisker levels of risk? They look like they have a lot going on with future models and expansions. I would put Lucid higher up on the risk scale if anything.
