There Has Never Been a Better Time To Buy a Rivian

When writing, the most affordable R1T has an MSRP of $69,900, while the R1S' pre-tax and -fee cost starts from $74,900. These are the figures available for the dual-motor plus standard battery configurations, with no upgrades. Both qualify for half of the federal EV tax credit.

But if you choose to lease one of the two, Rivian transfers the perk to you through something known as "capitalized cost reduction." Practically, the automaker transforms the EV tax credit into an upfront payment that lowers the lease's total cost. The best part? Rivian can shave off $7,500 – the full EV tax credit amount. Yes, there's a buyout option. Rivian isn't following Tesla's lead in this regard.

Leasing an R1T or an R1S is available to Americans living in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Jersey, New York, Nevada, North Carolina, North Dakota, Ohio, Pennsylvania, South Dakota, Texas, Vermont, and Washington.

But it gets even better for those who reserved an R1T early (before March 1, 2022) and still want the pickup truck. For them, the price starts at $55,920 before incentives. If customers eligible for the federal EV tax credit choose to lease now, then they would be looking at a price of $48,420 for a dual-motor R1T that can go 270 miles on a single charge.

This offer is available for the R1S, too. The only difference is the $4,000 added on top of the $55,920. Its price starts at $59,920, according to emails the brand sent out to qualifying customers.

Those who placed a preorder between March 1 and May 25, 2022, get a "preorder pricing voucher" that should amount to a 20% discount on all R1T and R1S versions. They will see it in their account and redeem it from the R1 Shop after choosing the preferred inventory unit.

Those are incredible offers. They remain available until the end of September. So, you don't have to rush and buy now. You could wait for the upcoming refresh, which we expect to be a minor but welcomed improvement.

Here's the kicker, though! It gets even better: in the states where leasing is possible, Rivian is also adding an additional $5,000 discount over everything else. The only issue is that it's available for a very limited time only. You might want to get in touch with Rivian ASAP because some prospective buyers reported receiving free paint upgrades, too! The company really wants to sell everything it has in store.

And if you think that it would have been great to be among the company's early supporters and take advantage of those initial prices or today's hefty discounts… Don't. The company was in a rush to deliver its EVs. Rivian and its buyers dealt with a ton of teething issues.

You wouldn't have wanted to put up with all that. Now's the best moment to get a new R1T or R1S. Don't hesitate (to buy or lease) unless, of course, you want to see what's coming this fall. We expect Rivian to update the pickup truck and SUV this summer. Both units might get the R2 steering wheel and at least one glove box. The EVs are also expected to get a new internal cabling system that should lower the curb weight and cut production costs.

In the end, this is what happens when there's a confluence: there's an end-of-quarter push, the Normal, Illinois, factory is being temporarily shut down for retooling, the brand wants to be done with early customers who haven't pulled the trigger yet, and there are many prospective buyers who just need a nudge in the right direction.