My guy. Stop flexing on us!
PJ
I will sign an Alpina b8 out of spite
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G550 incoming
Iāll find out what I can tomorrowā¦ Appears one can buy it at lease end, not sure if it can be transferred or paid off/traded in at any time.
Itās a cap cost reduction, I think it states so in the fine print.
The link above inferred a $5k discount, but I donāt see it in the leasing pageā¦just the $7500 EV credit right?
After seeing the Cybertruck pricing today, I think the Rivian is going to be very very competitive with sales this month. Itās a great deal with the leasing tax credit stacked on top. Iām soooo tempted now to pull the trigger now!
probably a negative on the transfers - itās Chase and AFAIK they donāt allow transfers for any of their OEM financial services.
I actually thought it would be more, but $80k for the base 4x4 is pretty good for a full sized truck - 6.5ft bed. Elon has just been touting what they consider the beast which is a cool $100k, so an $80k version is an unexpected surprise. There has been a lot of pre-orders for the camper that fits on the Cybertruck as well. I would imagine a lot of people are going to sell BTC to buy the Cybertruck and the camper.
Per the good folks at my local Rivian locationā¦ Lease transfers are not permitted. 3rd party buyout is not permitted (they made a phone call to corporate finance office). Confirmed the leased truck can be purchased by lessee at the end of term, or anytime during the term.
They did not have a firm residual number for the R1T but stated that their internal documentation shows 58% - no idea how reliable that is.
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What did your final payment end up looking like?
Some info I got from a phone call today
Performance residual 12k/36m 58-61%
Performance residual 12k/24m 68-69%
Quad motor residual 12k/36m 61-63%
Quad motor residual 12k/24m 70-72%
Dual motor residual 12k/36m 56-58%
Dual motor residual 12k/24m 65-66%
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Thanks for these! I was looking at Dual Motor only but now looking at Quad since itās not much more with higher residual. Any idea what causes the small 1-3% swing within each category? A particular option?
The agent said it can vary according to the packages on the truck. Nothing in particular tho
Just a thought on thisā¦ Since the $7500 lease incentive is supposedly applied as a cap cost reduction, the lease may be the way to go to save some money on a purchase by doing an immediate buyout depending on the state.
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Yes, itās a no-lose situation to just do a lease and get the $7,500 savings off the top. You can buy it out anytime. Itās an automatic 8-10% savings off MSRP. Makes it super attractive to me.
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When considering a buyout, make sure you back out the acquisition fee, the purchase option fee and however many payments you may need to make until you get the title from the DMV.
Any word on R1S leases coming?
Just got my final lease numbers, delivery tomorrow. Expected residual to be 68% (24/12) and MF ~5.3% based on others contracts and my trim. Actual agreement has same monthly payment as expected but residual jumped to 75% and MF to almost 10%. Rivian confirmed Iām top tier credit (as I expected) but they couldnāt explain why they would raise residual and MF. If I keep car the 24mo and just turn it back in I donāt think it makes a difference but I think the higher residual hurts me if I wanted to buy out during lease. Rivian shrugged their shoulders and said itās a āstandard deal they see everydayā and couldnāt explain more. Thoughts?
Probably helps them in the short-term from an accounting standpoint. They can start booking the inflated MF as income immediately and they can delay the writeoff on the inflated residual until the end of the lease. Makes the books look better for a couple of years.
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