Category: price

Apr 26

All Rivians Under The $80,000 Price Cap Qualify For $3,750 Federal Tax Credit

When leasing, the incentive jumps to $7,500.

The 2024 Rivian R1S and Rivian R1T are now listed by the IRS as eligible for the $3,750 federal tax credit.

We already knew that the R1S and R1T with Large and Max battery packs qualified for half of the maximum incentive ($7,500) but official confirmation about the all-new Standard and Standard+ battery packs was missing.

Rivian expands its EV lineup

Rivian currently offers two models: the R1S seven-seat SUV and the R1T pickup, both in multiple versions. In the coming years, the lineup will be expanded by smaller and more affordable R2 and R3 models.

As we can see on the fueleconomy.gov website, all Rivian R1S and R1T versions, under the $80,000 price cap, qualify for the $3,750 incentive.

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The list includes five R1S versions (Dual Standard, Dual Standard+, Perf. Dual Standard+, Dual Large and Quad Large) and seven R1T versions (Dual Standard, Dual Standard+, Perf. Dual Standard+, Dual Large , Perf. Dual Large, Dual Max and Quad Large). A few types are missing, but their MSRPs are above $80,000.

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All Rivian R1S and R1T under an MSRP of $80,000 are qualified for the incentive when purchasing. Specifically, the new more affordable battery versions: Standard and Standard+.

The $3,750 incentive means that Rivian meets only one out of two battery-related requirements. Meeting both (for critical minerals and battery components) would allow it to secure the full amount of $7,500. However, the full amount might be available through leasing since battery-related requirements are not present when leasing.

Below, we listed all Rivian EV configurations (mostly Standard and Standard+) that qualify for the $3,750 federal tax credit, including powertrain, battery and wheel options:

Model Base Price Dest. Charge Tax Credit Effective Price
2024 Rivian R1S DM AWD (Std) 21-in $74,900 +$1,800 $3,750 $72,950
2024 Rivian R1S DM AWD (Std) 22-in $77,400 +$1,800 $3,750 $75,450
2024 Rivian R1S DM AWD (Std+) 21-in $78,000 +$1,800 $3,750 $76,050
2024 Rivian R1T DM AWD (Std) 21-in $69,900 +$1,800 $3,750 $67,950
2024 Rivian R1T DM AWD (Std) 22-in $72,400 +$1,800 $3,750 $70,450
2024 Rivian R1T DM AWD (Std+) AT 20-in $76,850 +$1,800 $3,750 $74,900
2024 Rivian R1T DM AWD (Std+) 21-in $73,000 +$1,800 $3,750 $71,050
2024 Rivian R1T DM AWD (Std+) 22-in $75,500 +$1,800 $3,750 $73,550
2024 Rivian R1T Perf. DM AWD (Std+) 21-in $78,000 +$1,800 $3,750 $76,050
2023 Rivian R1T DM AWD (Large) 21-in $79,000 +$1,800 $3,750 $77,050

The base Rivian R1S starts at an MSRP of $74,900, while the R1T pickup starts at $69,900. Those are the prices for a Standard battery (106 kilowatt-hours), Dual Motor all-wheel drive powertrain and 21-inch wheels.

There are three other battery options: Standard+ (121 kWh for $3,100 more), Large (135 kWh for $9,100 more) and Max (149 kWh for $19,100 more). Switching to a Performance Dual Motor powertrain costs $5,000, while a Quad Motor costs $8,000. Please note that not all battery and powertrain options can be selected in the same configuration. Below, we attached the full Rivian EV pricelist:

Model Base Price Dest. Charge Tax Credit Effective Price
2024 Rivian R1S DM AWD (Std) 21-in $74,900 +$1,800 $3,750 $72,950
2024 Rivian R1S DM AWD (Std) 22-in $77,400 +$1,800 $3,750 $75,450
2024 Rivian R1S DM AWD (Std+) AT 20-in $81,600 +$1,800 N/A $83,400
2024 Rivian R1S DM AWD (Std+) 21-in $78,000 +$1,800 $3,750 $76,050
2024 Rivian R1S DM AWD (Std+) 22-in $80,500 +$1,800 N/A $82,300
2024 Rivian R1S Perf. DM AWD (Std+) AT 20-in $86,600 +$1,800 N/A $88,400
2024 Rivian R1S Perf. DM AWD (Std+) 21-in $83,000 +$1,800 N/A $84,800
2024 Rivian R1S Perf. DM AWD (Std+) 22-in $85,500 +$1,800 N/A $87,300
2023 Rivian R1S DM AWD (Large) AT 20-in $87,600 +$1,800 N/A $89,400
2023 Rivian R1S DM AWD (Large) 21-in $84,000 +$1,800 N/A $85,800
2023 Rivian R1S DM AWD (Large) 22-in $86,500 +$1,800 N/A $88,300
2023 Rivian R1S Perf. DM AWD (Large) AT 20-in $92,600 +$1,800 N/A $94,400
2023 Rivian R1S Perf. DM AWD (Large) 21-in $89,000 +$1,800 N/A $90,800
2023 Rivian R1S Perf. DM AWD (Large) 22-in $91,500 +$1,800 N/A $93,300
2023 Rivian R1S DM AWD (Max) AT 20-in $97,600 +$1,800 N/A $99,400
2023 Rivian R1S DM AWD (Max) 21-in $94,000 +$1,800 N/A $95,800
2023 Rivian R1S DM AWD (Max) 22-in $96,500 +$1,800 N/A $98,300
2023 Rivian R1S Perf. DM AWD (Max) AT 20-in $102,600 +$1,800 N/A $104,400
2023 Rivian R1S Perf. DM AWD (Max) 21-in $99,000 +$1,800 N/A $100,800
2023 Rivian R1S Perf. DM AWD (Max) 22-in $101,500 +$1,800 N/A $103,300
2023 Rivian R1S QM AWD (Large) AT 20-in $95,600 +$1,800 N/A $97,400
2023 Rivian R1S QM AWD (Large) 21-in $92,000 +$1,800 N/A $93,800
2023 Rivian R1S QM AWD (Large) 22-in $94,500 +$1,800 N/A $96,300
2024 Rivian R1T DM AWD (Std) 21-in $69,900 +$1,800 $3,750 $67,950
2024 Rivian R1T DM AWD (Std) 22-in $72,400 +$1,800 $3,750 $70,450
2024 Rivian R1T DM AWD (Std+) AT 20-in $76,850 +$1,800 $3,750 $74,900
2024 Rivian R1T DM AWD (Std+) 21-in $73,000 +$1,800 $3,750 $71,050
2024 Rivian R1T DM AWD (Std+) 22-in $75,500 +$1,800 $3,750 $73,550
2024 Rivian R1T Perf. DM AWD (Std+) AT 20-in $81,850 +$1,800 N/A $83,650
2024 Rivian R1T Perf. DM AWD (Std+) 21-in $78,000 +$1,800 $3,750 $76,050
2024 Rivian R1T Perf. DM AWD (Std+) 22-in $80,500 +$1,800 N/A $82,300
2023 Rivian R1T DM AWD (Large) AT 20-in $82,500 +$1,800 N/A $84,300
2023 Rivian R1T DM AWD (Large) 21-in $79,000 +$1,800 $3,750 $77,050
2023 Rivian R1T DM AWD (Large) 22-in $81,500 +$1,800 N/A $83,300
2023 Rivian R1T Perf. DM AWD (Large) AT 20-in $87,850 +$1,800 N/A $89,650
2023 Rivian R1T Perf. DM AWD (Large) 21-in $84,000 +$1,800 N/A $85,800
2023 Rivian R1T Perf. DM AWD (Large) 22-in $86,500 +$1,800 N/A $88,300
2023 Rivian R1T DM AWD (Max) AT 20-in $92,850 +$1,800 N/A $94,650
2023 Rivian R1T DM AWD (Max) 21-in $89,000 +$1,800 N/A $90,800
2023 Rivian R1T DM AWD (Max) 22-in $91,500 +$1,800 N/A $93,300
2023 Rivian R1T Perf. DM AWD (Max) AT 20-in $97,850 +$1,800 N/A $99,650
2023 Rivian R1T Perf. DM AWD (Max) 21-in $94,000 +$1,800 N/A $95,800
2023 Rivian R1T Perf. DM AWD (Max) 22-in $96,500 +$1,800 N/A $98,300
2023 Rivian R1T QM AWD (Large) AT 20-in $90,850 +$1,800 N/A $92,650
2023 Rivian R1T QM AWD (Large) 21-in $87,000 +$1,800 N/A $88,800
2023 Rivian R1T QM AWD (Large) 22-in $89,500 +$1,800 N/A $91,300

The delivery charge for Rivian EVs is $1,800.

Feb 18

Former Top Gear presenter warns ‘timing is everything’ as used car prices fall

The famous motoring personality Quentin Willson has warned used car buyers that now may not be the best time to buy a new vehicle, despite prices falling.

The former Top Gear presenter used to run a used car dealership and is well-known for offering expert advice that can help drivers get the best deal.

However, speaking exclusively to the Daily Express, Quentin noted that wider factors are making the used car market unstable.

He explained: “Used car buyers need to be careful. We know there’s a shortage of disposable income and private sales of all new cars are down 15 percent. While used car sales are reasonable, we don’t know what the next few months will hold.

“We could see spiking fuel costs because of instability in the Middle East, interest rates don’t look like they will be falling significantly soon, and consumer confidence is low with so much political uncertainty before an election. I don’t think this is a time to take any risks.”

Quentin noted that conflict in the Middle East could cause the price of petrol to increase in the coming months.

Whilst this will likely affect all owners of petrol, diesel, and hybrid cars, it could be bad news for those interested in buying a cheap luxury car, with many experts noting prices are particularly low at the moment.

The used car expert also stated that interest rates are still high due to inflation, meaning that drivers who finance their cars could end up paying more in the long run.

Nevertheless, Quentin suggested that drivers who need to buy a used car should be cautious, opting for a reliable and desirable model.

He advised: “If you do need to buy now then research prices, negotiate hard and only buy the best used car you can find. That means a desirable make and model, a good strong colour, petrol engine, low mileage and a continuous service history from new.

“High mileage, tired looking used cars always depreciate the most. Lots of asset classes (expect gold) have weakened over the last few months. I’d watch the market and world events carefully and wait to see if things start to recover. This is definitely a buyer’s market where timing is everything.”

According to the vehicle retail platform AutoTrader, the average price of a used car fell to £16,868 during January 2024, down 7.5 percent compared to 12 months earlier.

Nevertheless, whilst the prices decrease, demand for used cars is on the rise, with the company noting 85.5 million visits to the website by drivers looking to bag a bargain.

AutoTrader noted that many retailers are under-pricing models that are in high demand to reflect the current trends in wholesale values.