Rivian Expands Leasing Program to R1S SUV
Electric pickup truck and SUV maker Rivian launched a leasing program for its R1T pickup in November. It must be liking the results because the company is now expanding leases to cover the R1S SUV.
Illinois, Come on Down!
Along with the announcement of the R1S leasing program comes word of the 15th state where Rivian will now offer leasing: Illinois. The Prairie State joins Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas and Washington.
Interested lessees can peruse available R1S and R1T builds at Rivian’s website. Terms up to 36 months are available, and the amount of cash due at signing will depend on the vehicle’s configuration. Inventory levels and specific configurations available in each area will naturally fluctuate, but most of the R1Ss listed as of this writing have sticker prices in the mid- to high-$90,000 range; the R1S currently starts at $79,800 (including $1,800 destination charge). Those leases would require about $9,000 down and $1,000 a month. To give lessees a little bit of relief, Rivian will apply a $7,500 capital cost reduction to the vehicle’s subtotal as the R1S qualifies for the federal EV tax credit.
More From Cars.com:
- 2023 Rivian R1S Review: Upstart’s Second Model Is Actually the Better One
- Leased and Used Electric Vehicles Now Qualify for Federal Tax Credits
- Which Electric Cars Are Still Eligible for the $7,500 Federal Tax Credit?
- Which EVs Have All-Wheel Drive?
- What Does It Mean to Lease a Car?
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