Electric vehicle maker Rivian announced today that its R1T electric pickup truck is now available to lease in 14 U.S. states. The newly launched leasing program opens up Rivian’s award-winning truck to customers who may not want to purchase the vehicle outright.
“We’ve heard loud and clear that access to lease options will open our vehicles up to new audiences, and we’re excited to deliver on that,” said Rivian CEO RJ Scaringe.
Rivian is initially making its flexible R1T leasing program available in Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas, and Washington. The company plans to roll out leasing to additional states later this year.
Leasing allows customers to drive Rivian’s truck for a monthly payment, without a large upfront cash payment. Terms on the R1T lease include mileage options up to 15,000 miles per year and flexible length options between 12 and 24 months. Rivian’s lease is also eligible for the full $7,500 federal EV tax credit, which can help reduce overall costs.
The R1T pickup packs up to 314 miles of range, quad-motor AWD, and rapid acceleration. Rivian has received over 90,000 preorders for the truck and SUV to date. The leasing option aims to expand Rivian’s customer base by lowering the barrier to entry.
