Rivian Revs Up Options: Now Lease R1S SUV Alongside R1T Truck

EV manufacturer Rivian Automotive Inc RIVN has expanded its leasing options to include the R1S SUV, alongside its R1T electric truck.

What Happened: Rivian announced the availability of leasing for the R1S in a post on Wednesday. Leasing for Rivian’s vehicles initially began with the R1T truck in November and has now been extended to include the SUV model.

The R1S electric SUV can be leased for 36 months at approximately $1,169 per month. However, leasing is currently limited to specific states, including Arizona, California, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Texas, and Washington.

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Both the R1S and R1T are premium electric vehicles, and the introduction of leasing options can enhance their appeal to consumers. The all-electric R1T truck has a starting purchase price of $73,000, while the R1S SUV starts at $78,000.

Upfront Costs: Upon signing the lease, customers are required to pay an amount that includes a $7,000 down payment, the first monthly payment, an $895 acquisition fee, and potentially a security deposit (not applicable to all customers, according to Rivian). Additional charges for tax, title, license, and registration fees will also apply.

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