How to Buy A $67500 Rivian for Just $41050

Rivian just started mass production and delivery of their R1T electric adventure truck with the R1S SUV to follow soon. These have been dubbed some of the best electric cars ever by many car enthusiasts and journalists.

These cars are by no means cheap. There are premium cars and even sit at the top of the premium range of cars in their class. However, no matter how you swing it with gas savings, maintenance savings, and such, you’ll still be paying more to drive a Rivian than you could be paying for a cheaper gas-powered vehicle if that’s what you’re looking for now. 

Rivian’s goal has been to make the best electric adventure vehicles you can buy. These cars are not cheap. The cheapest and most bear-bones version of a Rivian you can get right now is the explore package of the Rivian R1T which stands at an eye-watering 67500 dollars.

This price does not include destination and regulatory document fee in addition to sales tax which Rivian confirms will be added to your purchase.

Today we’re going to look at how that vehicle the Rivian R1T explorer edition could cost you just above $41050. let’s get into it.

Rivian same with many other compelling electric cars come in a premium and that is due to their giant battery pack required to power these cars. Battery costs are still comparatively pricey though they have a solid trajectory to get cheaper and cheaper over the next few years as demand continues to rise, for now, they are pricey.

However electric vehicles are sought after because of their reduced environmental impact and that’s why there are incentives for them. There are zero emissions in all battery electric vehicles or BEVs and Rivian only makes zero-emissions vehicles.

Some may however argue that zero-emissions are not true because electricity is often made with coal. This means that you not directly pumping emissions from the exhaust of your car like ICE vehicles do but those emissions are released on your behalf at the power plant that makes the electricity by burning coal.

There is a breakdown article that shows that even burning coal has far less of an impact than gasoline but still the main goal here is a future of sustainable energy and the product has to come first even if a Rivian pollutes the same amount right now which they don’t they at least have a path to sustainability.

A Rivian is a compelling electric vehicle that has the potential to be 100% sustainable for many owners, and that may already be the case if your power company uses solar wind or other sustainable methods to create electricity for your car. It’s even more sustainable if you personally have solar which powers the vehicle with electricity from the sun.

On the other hand, gas vehicles have no path to sustainability and that’s why there are no government incentives for them. There is no scenario where a gasoline vehicle doesn’t pollute. This brings us to incentives. Government incentives exist for electric vehicles because we want people to drive them but most people can’t afford them at they are current price.

Depending on your state, there are a number of incentives you can get for buying a Rivian although many people don’t seem to realize just how much these can add up.

We will start this off by looking at all federal incentives that are applicable to everyone in the US. then we will move to state incentives.

Federal Incentives

The United States offers an electric vehicle Federal Tax Credit incentive for any taxpayers adopting vehicles after December 31st, 2009. This tax credit is for vehicles acquired after December 31, 2009. The base amount for this tax credit is $2,500 for a vehicle that draws propulsion energy from a battery with at least 5-kilowatt hours of capacity. There is an additional $417 for every kilowatt-hour of battery capacity in excess of 5-kilowatt hours. The total amount of the credit allowed for a vehicle is however limited to $7,500.

Shaving this amount off the base Rivian R1T price of $67,500 takes it down to $60000.

This incentive has a kind of expiry date though. It becomes invalid for an automaker after 20000 claims have been done for a particular automaker. That is good for those who are looking forward to buying a Rivian in the coming few years as the incentive may still be available.

State and County Incentives

California

One of the most pushful states for adopting EVs is California. The Antelope Valley Air Quality Management District Incentive is a locally sponsored program offered to Antelope Valley residents. It offers an alternative fuel vehicle incentive. The incentive is offered for Antelope Valley residents who purchase All-Electric and Plug-in Hybrids. It is a $1,000 incentive.  the incentive is limited to one per person. 

Deducting this from the $60000 makes it $59000.

Next is the California Air Resources Board Clean Vehicle Grants for people resident in California. The Clean Vehicle Assistance Program is funded by California Climate Investments, which is a statewide initiative that seeks to reduce greenhouse gas emissions by making clean vehicles accessible and affordable to all who qualify.

This program offers up to a $5,000 grant for buying an electric vehicle. It takes some time of about two to three months after applying to get approved and its income-dependent but once you have approval you take it to be processed when paying for your Rivian

You can find income eligibility requirements on their site. It’s worth looking into in detail before you assume that you automatically won’t qualify. From that same program, there’s also a $2,000 charging grant and this is to cover some charging costs as well as the installation of a home charger which usually isn’t too expensive but also isn’t cheap. 

This further shaves the price of the Rivian R1T to $52000. We are off to a great start.

DCAP is a financial education and down payment assistance program for clean energy vehicles offered to low-income families/individuals. Community Housing Development Corporation Driving Clean Assistance Program asl offers an electric vehicle incentive or grant of up to $5000.  

Subtracting that from what is left, brings it down to $48000. That looks like a very compelling and affordable price for what the R1T offers.

The Pasadena Department of Water and Power has rebates and incentives available for electric vehicle owners. It provides incentives to customers who drive plug-in electric vehicles and install charging stations at their homes and businesses. 

Customers can receive a rebate of up to $250 when they purchase or lease a new or used plug-in electric vehicle.

Customers can receive an additional $250 bonus rebate if they purchase or lease an EV from a Pasadena auto dealer. 

The website notes that Since Rivian or Tesla relies on a direct-sale business model where the transaction is completed entirely online, the Pasadena auto dealer bonus will not apply.

An additional $1000 is available for customers currently participating in PWP’s income-qualifying programs.

Additionally, customers can receive a $600 rebate when they install a qualifying “Wi-Fi enabled” EV charger, or a $200 rebate when they install a standard Non-Wi-Fi EV charger in their home.

That sums up to $1850. This bases down the Price of the R1T further to $46150

San Joaquin Valley Pollution Control District offers an incentive to residents and businesses for obtaining a new clean-air vehicle. The Rebate Program provides rebates offers a rebate price of up to $3000 to Valley residents and businesses for the purchase or lease of new, clean-air vehicles. To be considered for a rebate, applicants must purchase or lease a vehicle from the eligible vehicle list. 

This takes the $46150 to $43150

Turlock Irrigation District (TID) offers an electric vehicle incentive offers a $500 rebate when you purchase a qualifying new or used electric vehicle. TID customers enrolled in the CARES program will receive an additional $700 per vehicle. Furthermore, you can also receive a $300 rebate when you purchase and install a qualifying Level 2 Charger.

CARES customers will receive an additional $100 rebate per charger.

In total, that is $2100 if you qualify. This brings down the price of the R1T to $41050

New Jersey is another friendly electric vehicle state when it comes to incentives but still isn’t quite as friendly as California. In New Jersey, you can get up to 5,500 dollars in grants towards the purchase of a battery-electric vehicle including Rivians. 

California’s programs are income-dependent but much more favorable with up to $10,000 further incentives available compared to New Jersey. In most other states, there are incentives of some form.

In Texas, there is a light-duty motor vehicle purchase or lease incentive program for up to a $5,000 rebate among a list of other programs through power companies for up to $5,000 available in a rebate depending on income. 

Colorado has a $4,000 tax credit. Connecticut has a $5,000 rebate and there are many many more. In any case as far as I can tell California has the most generous programs and their programs have brought us down to $41050 for the Rivian R1T explorers edition.

Tell me what you think about this in the comment section below. Is there something I am missing? let me know. 

Hanson F.https://thevolter.com
Hanson is a lover of electric cars especially Rivian. He is a contributor for The Volter as well as other news hubs

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