The company has announced it is initiating a new lease program — with a couple of asterisks — for the R1T pickup truck.
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.
