What simply occurred? Rivian has rolled out a leasing program that can present events one other choice to get into an electrical car. This system is reserved for “very properly certified patrons,” and is termed for 36 months with 30,000 miles. Particulars will differ relying on car choices however in a single state of affairs, Rivian stated a certified lessee may get a Rivian R1T Journey Bundle for $859 per 30 days with $6,754 due at signing.
Rivian’s lease program is simply obtainable in 14 states initially: Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas, and Washington. This system might be expanded to further markets over time, we’re informed.
A fast verify of accessible configurations in my space suggests lease fashions are largely restricted to automobiles with premium choices. Just one was supplied below $90,000, and simply barely ($89,500). In line with Rivian’s web site, the R1T begins at $78,000.
Additionally value mentioning is that Rivian is simply leasing its R1T pickup proper now.
Notably, Rivian stated lease prospects will see a $7,500 capital price discount (federal tax credit score) utilized to their car subtotal in the course of the buying course of. Oddly sufficient, shopping for a Rivian outright solely qualifies for half of the tax credit score as a consequence of rules on the place automobiles or elements are constructed.
A spokesperson informed CNBC that the EV maker is working with Chase on financing for the lease program, and stated it selected the 14 launch states based mostly on the place their prospects are situated and the place leasing is hottest.
Leasing is not proper for everybody, however it may be a superb slot in some circumstances. These new to EVs may need to see how an electrical car matches into their way of life on a longer-term foundation than a easy weekly rental may afford. Street warriors, nevertheless, most likely need to keep away from a lease like this as a penalty is incurred for each mile over the allotment of 30,000 (on this case, billed at $0.30 per mile over) and for “extra car put on.”
Picture credit score: Wes Hicks, Clayton Cardinalli
