Rivian is now offering leasing options for the R1T electric pickup truck. The leasing program has been initially launched in 14 US states.
Rivian chose to kick off its leasing program with the R1T, the first electric vehicle to roll off its production line. Leasing, identified as one of the most requested financing options, is expected to give the R1T an additional boost in popularity after it fell behind the R1S in terms of production priority. The program is not only an opportunity for customers to get behind the wheel of the R1T without a long-term commitment, it also makes them eligible for the $7,500 federal tax credit.
As we reported last week, leasing is currently only available when purchasing a R1T from existing inventory. On its website Rivian is advertising lease rates from $899 per month, but we are able to find lease rates lower than that. In our review of the automaker’s website, we were able to find a quad-motor R1T for 36 months with a $5,000 down payment and a 10,000 mile annual limit for around $847 per month. Opting for a 24 month term increases the monthly payment to $903 per month.
Here is a list of states where customers can now lease a Rivian R1T.
- Arizona
- California
- Colorado
- Florida
- Georgia
- Massachusetts
- Michigan
- Missouri
- New Jersey
- New York
- Nevada
- Pennsylvania
- Texas
- Washington
While Rivian’s leasing program is currently limited to only the R1T in existing inventory, and only in 14 states, a company spokesperson confirmed the company plans to expand the leasing program to include custom built models and other states in the future. We have inquired about when leasing will expand to Canada, and will update this article when we receive a response.
