Rivian has announced the R1S is now available on a lease in the US. The addition of the R1S comes just a few months after the automaker started offering leases, which were limited to the R1T electric pickup truck.
As with its initial launch, leasing a R1S is only available when purchasing through existing inventory, and just like the R1T, these leases aren’t cheap. According to Rivian’s website, a Quad-Motor R1S with a sticker price of US$98,250 can be leased for US$1,128 per month. This price is with a $7,000 payment due at signing, with a 36-month term with a 30,000 mile total allowance.
There is also an additional “Acquisition Fee” of US$895 also due at signing.
Opting for a shorter 24-month lease, with all of the same terms, increases the payment slightly to US$1,151 per month. These prices are for customers with an excellent (800+) credit rating.
Rivian also says that any customer leasing a Rivian vehicle, either the R1T or the R1S, will receive a $7,500 capital cost reduction applied to their lease. This is part of the federal tax credit in the US, but according to Rivian any customer will receive this benefit, regardless of the price of the vehicle (no price limit) or their income (no income limit).
Rivian only offers leasing in 15 states. This is an increase of one new state since the leasing program launched last year, with Illinois now included on the list. There has been no word on when leasing will arrive for Canada.
- Arizona
- California
- Colorado
- Florida
- Georgia
- Illinois
- Massachusetts
- Michigan
- Missouri
- New Jersey
- New York
- Nevada
- Pennsylvania
- Texas
- Washington
Leasing is now available on R1S. Get all the adventure of owning a Rivian with the flexibility of leasing. R1S configurations are also available for immediate purchase in our online shop. No reservation required. https://t.co/W162Acm5zO pic.twitter.com/ZAbJ9GHETi
— Rivian (@Rivian) January 17, 2024
