Rivian R1T 20% Preorder Discount Ends This Fall

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - March 26, 2024
Rivian R1T electric truck red color rear view

Rivian is heavily discounting the R1T for original preorder holders. According to a message sent to customers, the Rivian R1T features a 20% discount off MSRP, effectively cutting the price to just under $56,000. At the same time, the brand plans to sunset preorder pricing this fall, creating an important deadline for buyers.

As part of the deal, the R1T Dual Motor Standard Pack can be purchased for $55,920. That's 20% less than the current MSRP of $69,900 excluding destination. At $13,980 off MSRP, the cheapest Rivian R1T could seem like an outright steal. To help put that into perspective, a 2024 Ford F-150 Lightning XLT starts at $64,995.

Rivian R1T yellow color electric truck

The context for the Rivian preorder price voucher goes back to major price hikes that the brand introduced back in March of 2022. According to our records, prices went up by as much as $12,000 and initially affected existing order holders, too. The change was quickly rolled back on preorders after customer backlash.

While 20% off MSRP may be a good deal, the offer is part of a plan to sunset preorder pricing on September 30, 2024. In that sense, the preorder price voucher now has a time limit and enables customers to either purchase their R1T or move on to something else. But that's not the only drawback that we found.

In addition to confirming the 20% discount, a Rivian representative added that custom orders are no longer being filled. Through late fall, Rivian is closing its plant to retool. In the meantime, shoppers must choose a vehicle from the company's existing inventory. This could potentially be a deal-breaker for some buyers.

Rivian is continuing to offer significant savings on the R1T to the public. As CarsDirect reported last month, the R1T Standard Pack can be leased for just $559 per month. More recently, the SUV version of the vehicle, the R1S, received a $699-per-month Quad Motor lease that severely undercuts the Tesla Model X.

Explore Rivian R1T Prices & Deals

, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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