Leasing My 2025 Rivian R1T Tri Max Ascend: A Transparent Look at the Numbers and Process

I recently signed the Motor Vehicle Agreement for my new 2025 Rivian R1T Tri Max Ascend, which I’ll be picking up on November 16th. As I part ways with my Gen 1 Quad R1T, I thought it would be helpful to share a transparent look at my leasing process, including some specifics on how Rivian’s leasing works, what numbers to expect, and a few exclusive perks for current owners.

Lease Breakdown and Key Terms

Here’s a quick rundown of my lease details:

• Vehicle Subtotal: $103,400
• Residual Value: 59%
• Residual Value Dollar Amount: $62,068
• Money Factor: 0.00338
• Lease Term: 36 months
• Annual Mileage: 15,000 miles
• Monthly Payment: $635.89
• Rivian Referral Points Used: 10,000 points ($10,000 as a down payment)
• Trade-In Credit: $48,920
• EV Tax Credit: $7,500
• Loyalty Offer for Existing Owners: $3,500
• Original Deposit: $500 (applied to total credits)

After applying my trade-in credit, referral points, and Rivian loyalty offers, this setup yielded a monthly payment of $635.89—the lowest available based on a 36-month lease with 15,000 miles per year.

Fees and Additional Costs

In addition to the above, there are several fees associated with the lease:

• Taxes: $1,042.88
• Acquisition Fee: $895
• Documentation Fee: $347
• Title and Registration: $276.95

All of these fees are covered by the 10,000 Rivian referral points, effectively applied as my down payment. This helps minimize my out-of-pocket costs at the start of the lease.

Capital Cost Reduction and Trade-In Details

Since I’m trading in my Gen 1 R1T, Rivian’s trade-in offer plays a role in my lease structure. Rivian offered $48,920 for my trade-in, and I have a remaining balance of $29,786.98 on my current vehicle. The difference between the trade-in offer and the balance on my R1T goes toward my new lease as capital cost reduction—in this case, a little over $19,000.

Capital cost reduction refers to any upfront amount applied to reduce the total lease cost, which effectively lowers monthly payments. This includes both the trade-in balance and the 10,000 Rivian referral points, which I’m applying as an additional down payment.

Money Factor Explained and How It Compares

The money factor for my lease is 0.00338. To convert the money factor to an annual percentage rate (APR) approximation, you can multiply it by 2,400, which yields around 8.11% APR. This rate is somewhat higher than average for leases, as typical money factors range between 0.00100 and 0.00200, or around 2.4% to 4.8% APR.

My higher money factor may be due to Rivian’s unique position in the EV market, where residual values and depreciation rates are still being established, which may impact the lease terms they can offer.

EV Tax Credit and Loyalty Offer

One of the advantages of leasing an EV is the $7,500 federal EV tax credit applied upfront, which reduces the overall lease cost. Additionally, as a current Rivian owner, I qualified for a $3,500 Loyalty Offer from Rivian—a valuable perk for those considering an upgrade or adding to their Rivian lineup.

Why I Chose to Lease My R1T

Typically, putting a large amount down on a lease isn’t ideal, as leases are structured to maximize cash flow benefits. However, leasing my next Rivian made sense given my goals of continuing to create Rivian content and sharing the latest with RivianTrackr readers.

One other benefit of trading in with Rivian directly is their flexibility in honoring my truck’s valuation even though I’ll be adding a few thousand more miles before trading it in. This convenience and flexibility made leasing through Rivian a straightforward choice.

Final Thoughts

Rivian’s growing leasing options, along with added benefits like loyalty offers and EV tax credits, make leasing a solid option for many drivers. If you’re exploring Rivian leasing, consider your options, from trade-in flexibility to capital cost reductions, to make the best choice for your situation. I hope these details provide insight for those thinking about leasing a Rivian and offer a clearer picture of what to expect in this process.

Stay tuned for more updates on the R1T Tri Max Ascend and everything new Rivian has to offer!