The option to lease a vehicle is becoming popular among traditional car buyers, and automakers are embracing the lease service as well. For sellers, leasing is a vital part of growing the business. For buyers, it addresses two major barriers compared to buying vehicles: high payment, and making a long-term commitment. This is perhaps especially relevant to the electric vehicle (EV)opens in same window market, where newer technologies and new EV-only brands can make some consumers hesitate to purchase.
Rivian is now offering a lease option on their popular R1T and R1S. The lease product is only available through Rivian Financial Services*, the program under which Chase provides financing to Rivian customers, in select states.
"We've had leases on the roadmap all along," said Jamie Jones, general manager for electric vehicles at Chase Auto. "As Rivian looked to expand and sell more vehicles, they realized that, in order to remain competitive and to reach more customers, leasing was critical. So that really helped us recognize that it was the right time to introduce the Rivian lease."
Working together, Chase and Rivian provide a user-friendly online application process where customers can compare lease and loan payments and apply for credit. Leasing also enables more customers to access the federal government’s $7,500 EV tax credit.
"Our partners tell us that leasing is one of the most requested financing options, and we work to be a good financial partner to make those arrangements happen," Jones says.
In Summary: Rivian is now offering a lease product for its R1T, an all-electric pick-up truck with a 410-mile range, and their R1S, an all-electric SUV with a 400-mile range Same page link to footnote reference 1 through Rivian Financial Services and Chase Auto. Leases are popular among consumers for their flexibility and lower costs, and Rivian is focused on putting more drivers in their vehicles.
To learn more about Rivian, visit www.Rivian.com.
