Rivian Launches Leasing Program for R1T Pickup

With sales on the rise, electric-vehicle startup Rivian is looking to keep momentum building. The company has announced it is initiating a new lease program — with a couple of asterisks — for the R1T pickup truck.

Related: 2023 Rivian R1T Review: Not the Biggest Luxury Electric Truck, But Maybe the Best

Customers can now lease the R1T in certain configurations if they live in certain states: Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas or Washington. Rivian says it plans to expand leasing to other states in the future.

Leasing is limited to R1Ts with a sticker price of at least $89,600 (pricing includes $1,800 for delivery) before dealer-installed options. (The base price on a Rivian R1T as of this writing is $74,800.) As Rivians qualify for the full $7,500 federal tax credit, this is incorporated into the lease-agreement calculations as a capitalized-cost reduction. Cash due at signing and monthly payments will vary depending on how the vehicle is configured, but generally speaking, lessees should expect to pay at least $6,700 up front and between $800 and $900 a month for 36 months.

More From Cars.com:

• Rivian R1T Tops Tesla in J.D. Power EV Owner Satisfaction Survey
• What Does the EV Tax Credit Overhaul Mean for Car Shoppers?
• Leased and Used Electric Vehicles Now Qualify for Federal Tax Credits
• Electric Cars With the Longest Range
• How Do I Calculate if a Lease Is a Good Deal?

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