Rivian launches leasing for R1S

(Credit: Rivian)

Rivian announced this week that it has launched leasing for the R1S all-electric SUV.

In November, Rivian launched leasing on the R1T, making it easier to own the company’s introductory vehicle.

Now, Rivian is including the R1S program. But before you decide to do so, there are plenty of terms the company is including with R1S leasing.

Initially, Rivian will is limiting which states will be available to lease the R1S. For now they include:

  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Massachusetts
  • Michigan
  • Missouri
  • New Jersey
  • New York
  • Nevada
  • Pennsylvania
  • Texas
  • Washington

Leasing gives more flexibility to potential owners, lowering the monthly cost and potentially the downpayment as well. However, drivers are limited to a certain number of miles per year, and going over that amount can be pricey.

For example, Rivian will give you a 36-month lease with 10,000 annual miles for as little as $1,108. $9,003 is due at signing, which includes the first month’s payment, an $895 acquisition fee, and a $7,000 downpayment or trade-in value.

This price also factors in an “Excellent” credit rating of 800+.

Leasing for Rivian launched yesterday, and will likely expand to more U.S. states as the program moves forward.

For now, Rivian is still working to ramp production and handle demand for its R1T and R1S, which have been desirable within the EV space due to their looks and capabilities. The company has geared its vehicles toward adventurous and outdoors-based use, but they are also more than suitable for traditional driving, of course.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey Klender: Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his time at TESLARATI, Joey has broken several big stories, including the first images of the Tesla Model S Plaid, the imminent release of the 4680 Model Y through EPA certification, and several expansions to the Lucid AMP-1 factory in Arizona, to name a few. His stories have been featured in several publications, including Yahoo! Finance, Fox News, CNET, and Seeking Alpha. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on Twitter @KlenderJoey.
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