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Rivian has officially expanded its EV leasing program beyond the R1T pickup to include the popular R1S SUV, now making both models available for lease in 15 states, including the newly added Illinois. This strategic move signals strong initial success and provides a more accessible entry point into Rivian ownership, with leased R1S models qualifying for a $7,500 capital cost reduction that effectively acts as an instant tax credit.
As of this writing, you can lease a Rivian R1S or R1T in the following 15 states: Arizona, California, Colorado, Florida, Georgia, Illinois, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas, and Washington. The recent addition of Illinois, the "Prairie State," marks a continued expansion of the program. Interested customers should check Rivian's official website for the most up-to-date inventory and state availability, as configurations and stock fluctuate regularly.
| State | Leasing Available |
|---|---|
| Arizona | Yes |
| California | Yes |
| Colorado | Yes |
| Florida | Yes |
| Georgia | Yes |
| Illinois | Yes (Newly Added) |
| Massachusetts | Yes |
| Michigan | Yes |
| Missouri | Yes |
| New Jersey | Yes |
| New York | Yes |
| Nevada | Yes |
| Pennsylvania | Yes |
| Texas | Yes |
| Washington | Yes |
Based on our assessment of current inventory, leasing a Rivian R1S involves a significant financial commitment, though the federal EV tax credit qualification helps lower the cost. The R1S currently has a starting Manufacturer's Suggested Retail Price (MSRP) of $79,800, which includes the $1,800 destination charge. For a typical lease on a model priced in the mid- to high-$90,000 range, you can expect:
The critical financial advantage here is that Rivian applies a $7,500 capital cost reduction at signing because the R1S qualifies for the federal electric vehicle tax credit. This reduction directly lowers the vehicle's capitalized cost, making the effective down payment more manageable.
When you lease an eligible electric vehicle like the Rivian R1S, the tax credit is handled differently than a purchase. The leasing company (in this case, Rivian's financial arm) is the entity that technically purchases the vehicle. Therefore, they receive the $7,500 federal EV tax credit. A key benefit of Rivian's program is that they pass this full credit on to you, the lessee, as an immediate reduction off the vehicle's price. This is known as a "capital cost reduction." You do not have to meet the income or battery sourcing requirements that apply to individual tax credits for purchases; the benefit is applied instantly at the point of sale.
Leasing a high-end electric vehicle like the Rivian R1S can be a smart financial decision for several reasons, especially given the rapid pace of EV technology evolution.
To get a personalized lease quote, you should browse available R1S and R1T inventory directly on Rivian's website. The exact terms, including the amount due at signing, will depend on the specific vehicle's configuration, your creditworthiness, and prevailing promotional offers.
Conclusion: Key Takeaways for Prospective Rivian Lessees Rivian's expansion of its leasing program to the R1S SUV is a significant development for the brand and consumers. If you are in one of the 15 eligible states, you now have a more flexible path to experiencing Rivian's electric technology. The most critical factor to understand is the immediate benefit of the $7,500 capital cost reduction, which directly lowers your lease cost. Before deciding, compare the total cost of leasing against financing a purchase, considering your long-term vehicle plans and financial goals.
