This calculator logic is verified for accuracy based on standard automotive financial modeling principles.
Use this tool to estimate your monthly lease payments for any Rivian model (R1T, R1S, or upcoming R2/R3) by inputting the Capitalized Cost, Residual Value, Money Factor, Lease Term, and local Sales Tax rate.
Rivian Lease Calculator
Estimated Monthly Payment
Calculation Steps Breakdown
Rivian Lease Calculator Formula
1. Monthly Depreciation = (Capitalized Cost - Residual Value) / Lease Term (Months)
2. Monthly Finance Charge = (Capitalized Cost + Residual Value) × Money Factor
3. Base Monthly Payment = Monthly Depreciation + Monthly Finance Charge
4. Total Monthly Payment = Base Monthly Payment × (1 + Sales Tax Rate)
Variables
Understanding the key terms is crucial for estimating your Rivian lease accurately:
- Capitalized Cost (Cap Cost): The selling price of the Rivian vehicle plus any acquisition fees. Negotiating this lower is key to a cheaper lease.
- Residual Value (RV): The estimated value of the Rivian at the end of the lease term, expressed as a dollar amount. This is set by the lender.
- Money Factor (MF): The lease equivalent of an interest rate. Multiply the MF by 2,400 to get the Annual Percentage Rate (APR).
- Lease Term: The length of the lease contract, typically 24, 36, or 48 months.
- Sales Tax Rate: The local tax rate applied to your monthly payment, depending on your state and county.
What is Rivian Lease Calculator?
A Rivian Lease Calculator is a specialized financial tool designed to estimate the full cost of leasing a Rivian vehicle, such as the R1T or R1S. Leasing, unlike financing, primarily involves paying for the vehicle’s depreciation during the lease term, plus a finance charge (Money Factor).
The primary purpose of the calculator is to provide transparency into the two main components of a lease payment: the depreciation charge and the finance charge. Since Rivian’s vehicles, being electric trucks and SUVs, often have strong residual values, these calculators help prospective lessees understand how that high resale prediction impacts their monthly outlay, often resulting in lower depreciation costs compared to traditional gasoline vehicles.
How to Calculate Rivian Lease (Example)
Let’s use a sample Rivian R1S lease with a 36-month term to demonstrate the calculation:
- Input Variables: Cap Cost: $78,000; Residual Value: $54,600; Money Factor: 0.00200; Term: 36 Months; Sales Tax: 7.5%.
- Calculate Depreciation: Subtract the Residual Value from the Cap Cost to find the total depreciation: $78,000 – $54,600 = $23,400.
- Determine Monthly Depreciation: Divide the total depreciation by the lease term: $23,400 / 36 = $650.00.
- Determine Monthly Finance Charge: Add the Cap Cost and RV, then multiply by the Money Factor: ($78,000 + $54,600) * 0.00200 = $265.20.
- Find Base Monthly Payment: Add the two monthly components: $650.00 + $265.20 = $915.20.
- Apply Sales Tax: Multiply the base payment by (1 + Tax Rate): $915.20 * (1 + 0.075) = $983.84.
- Result: The estimated Total Monthly Payment is $983.84.
Frequently Asked Questions (FAQ)
- What is a good Money Factor for a Rivian lease? A good Money Factor is generally below 0.00200 (equivalent to a 4.8% APR). Since Money Factors fluctuate based on market conditions and the lender (often Rivian Financial Services), always negotiate or compare the offered MF to a competitive APR.
- Does the Capitalized Cost include dealer fees and acquisition fees? Yes. The Capitalized Cost includes the negotiated selling price of the vehicle, plus any mandatory fees like the bank’s acquisition fee, and sometimes a disposition fee (if paid upfront).
- Why is the Residual Value so important for a lease? The Residual Value determines the single largest component of your lease payment: the depreciation. A higher Residual Value means less depreciation is paid over the term, resulting in a lower monthly payment. Rivian’s anticipated high resale values benefit lessees.
- Can I include my down payment (Capital Cost Reduction) in this calculator? The Capitalized Cost input should reflect the *post*-down payment cost. If you have a $5,000 down payment, subtract $5,000 from the vehicle price before entering the Cap Cost.