Rivian Early Lease End options

Ask the Hackrs
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1

I have a Rivian r1s that was leased on March 2024 for 36 months. I’m trying to get out of the lease due to various reasons.

However Chase doesn’t have an early end lease termination.
They’ve basically stated that my best option would be to turn in the vehicle, which they will then auction and I would pay the difference between current payoff amount and auction.

I tried selling it privately, but still have about $9,000 in negative equity at this point. I have 22 payments left @ $957 for 2024 Rivian R1S dual motor large battery. Have only 13,500 miles on it currently.

Payoff is at $74,200 and best value I’ve got from Carvana is $65,300.

Open to selling it for the $74,000.00

What’s the best option to minimize the damage?

2

Drive off cliff, leave unlocked in a undesirable neighborhood, etc

3

Unless chase allows lease transfers your only real option is to enjoy the car for the next 22 months. In most cases you should only lease an EV if you have the intent and wherewithal to take it the full term.

3 Likes
4

Unfortunately Chase does not allow lease transfers. You don’t want this to go to auction, as you’ll have zero say in what the final amount is nor will you know how it turns out until Chase tells you.

Private sale or selling to a dealer are probably your best options at this point… pay $9k, or pay $22k + insurance… or roll the dice (at auction).

5

too bad no transfer.. I’d be interested.