Ordering a Rivian? Use code JOSE1715716 to earn up to 500 points + 3 months of free RAN charging.
Should You Buy or Lease the Rivian R2 Launch Edition
So I keep getting asked whether people should buy or lease their R2 Launch Edition, and my answer is lease, but let me explain because it’s not the answer you’d expect from me.
It’s got nothing to do with money. It’s the LiDAR thing. Rivian’s adding LiDAR to R2 in late 2026 and that’s actual hardware bolted to the car, not some over the air update they can send you. So if you buy a Launch Edition this spring you’ve got a truck that’s missing the sensor suite the slightly later cars get, and you own that gap for as long as you keep it.
The reason I land on lease is you get to drive the thing you’ve been waiting on for years without committing to first-gen hardware on a platform that’s clearly about to change. Three years, hand it back, go get the LiDAR car or whatever else has shown up by then. On a settled vehicle I wouldn’t even bother with this logic. On a brand new R2 it’s the whole ballgame.
Now I’m not going to sit here and tell you buying is dumb because it isn’t. The Launch Package has lifetime Autonomy+, which is one of those things that only makes sense if you’re keeping the R2 a long time, and there’s Launch Green, which you literally cannot order on any other R2. So if you’re the type who buys a car and drives it into the ground, and you want the exclusive paint, yeah, buy it. That’s just not most people even if they say it is when they’re signing.
Here’s the catch though and it’s a real one. We don’t have lease numbers yet. No residual, no money factor, nothing. And lease pricing on a brand new model can go sideways fast depending on where Rivian sets the residual, so honestly take all of this as a lean and not a promise. Could change the second the real terms drop.
Oh and one more thing, kind of a funny one. I’m not actually leasing mine. I’m buying it and flipping it once the LiDAR version is out, which is the exact opposite of everything I just said. But that’s because this R2 is half a RivianTrackr vehicle, so the math is weird for me in a way it won’t be for you. If I were just buying a car to drive I’d lease it, same as I’m telling you.
We’ll run the real numbers whenever Rivian gives us something to work with.
My understanding is now the Launch Edition will be available with the Costal White interior … at the end of the year. If that’s true then the Launch Green & Costal interior is the R2 I will buy. Nice article Jose. Thank you.
That’s what Rivian is saying!
Lidar is going to be used for data collection so it doesn’t matter if you have it for not.
That’s exactly what I’m going to do as well.
Nice article and I mostly agree with your analysis. Another case for purchase is if you want/have to make modifications to the vehicle. I’m thinking of a mobility challenged person that may benefit from aftermarket running boards. That’s not something you can add to a leased vehicle. As you say, we need to see lease terms and take that into account on any decision.
You can add running boards to a lease and take them off later. That goes for a lot of aftermarket equipment.
I see the term truck sparingly through the article. Is this a truck? I’m trying to convince my wife on an R2T or Slate in the future so maybe I can use that for an R2 currently.
Haha sorry I use the term “truck” interchangeable but I adjusted it to not confuse anyone.
Spot on analysis. I have the added variable of selling my Tesla cyber truck. I love it, and don’t wanna eat the high depreciation, but I really want to support what Rivian is doing. I had an R2 and sold it when I got the cyber truck only because I was able to sell it for more than I paid for it and the cyber truck had already depreciated greatly.
I don’t see a scenario where purchasing any new EV makes sense these days unless you’re going to do a lot of customization, or using it as a work truck. There’s no way the R2 won’t lose at least 20% of its value in the first 2 years. Some EVs are closer to 50% (Porsche, Audi, Mercedes). Leasing an R2 for 24 months (even at $1200 a month) is a bargain compared to financing at a similar rate, then eating $12,000 of depreciation when you sell. If you do the math, buying ends up costing you $1600 a month and leaves you with no equity for your next down payment. If you had been leasing and squirreling away that same $500 a month (that a Rivian OWNER is quietly burning in depreciation) you’d be sitting on 12 grand to put towards your next ride (or groceries, mortgage, etc.).