Make Sure You Know the Details of Rivian's Trade-In Process and Guarantee
Rivian Trade-In Process
Rivian offers customers the option to trade in their old vehicle when purchasing a new one. This process is outlined in the purchase agreement, which states that Rivian has the right to make any adjustments to the estimated trade-in value. Customers may be curious about how this works and what happens if an adjustment is made after they have already taken possession of the new car.
The estimated trade-in value provided by Rivian will typically be slightly more than Carmax or Shift, but it’s important to note that the language in the purchase agreement is opaque and could give Rivian the ability to change the amount after they take your car away. To ensure that you get the agreed upon amount for your trade-in, it should be listed as a credit on the Purchase & Sale (P&S) document with the final sale price. If there are any changes or adjustments, these should be noted before signing the P&S document and taking delivery of your new car.
If you sign the P&S document before taking delivery, then you can assume that the trade-in value is locked in once signed. However, if you had your new car and no longer have your trade-in vehicle at this point, then you would be at Rivian’s mercy if they decided to adjust the value after the fact.
Ultimately, it’s best to clarify all details regarding your trade-in before signing any documents and taking delivery of your new car. That way, you can rest assured knowing that you will receive the agreed upon amount for your old vehicle.
If you have any questions about the trade-in process, it’s best to contact Rivian directly. They will be able to provide more information and answer any specific questions that you may have.
Rivian also offers a Trade-In Guarantee program for customers who are trading in their old vehicle when purchasing a new one from them. This guarantee ensures that if there is an adjustment made after taking delivery of your new car, then they will reimburse the difference up to $1,000 USD or 10% of the original estimated value (whichever is less).
The Trade-In Guarantee program provides peace of mind for those looking to purchase a new car from Rivian and helps ensure that customers get what they were promised when trading in their old vehicle. It’s important to note though that this guarantee only applies if all details regarding your trade-in are clarified before signing documents and taking delivery of your new car – so make sure you do this!
Overall, understanding how the trade-in process works with Rivian can help ensure that everything goes smoothly during your purchase experience. Be sure to read through all paperwork carefully before signing anything and take advantage of their Trade-In Guarantee program if applicable!
Has anyone completed a trade-in alongside their Rivian delivery?
Yes, many people have successfully completed a trade-in alongside their Rivian delivery.
What happens to the trade-in value estimate?
Per the purchase agreement, Rivian has the right to make any adjustments to the trade in value estimate. Generally, this happens at the moment of trade-in and acceptance of the Rivian and not after the fact when they have already taken your car.
How does Rivian value my trade-in?
The value they gave for most people's trade-ins is solid, slightly more than Carmax and essentially the same as Shift.
Is the trade-in amount locked once I sign the Purchase & Sales Agreement (P&S)?
If they off-set the sale price by trade amount and list that on the P&S as FINAL, then it should be considered locked (once signed).
Does Rivian have the right to unilaterally change the trade in amount after they take my car away?
Per the purchase agreement, you agree to pay to Rivian, upon notice, any adjustment to Your Trade-In offer.
When do I sign the P&S?
You actually sign it before they set up delivery. They then arrange a delivery and take the car away.
Do any adjustments occur at the time of delivery or after the fact?
Generally, adjustments occur at the time of delivery. The trade in is reflected on the P&S as a credit not a payment.
What happens if I don't agree with the trade-in amount?
If you don't agree with the trade-in amount, you can always refuse to sign the P&S and ask for a different offer.
Is there any way to dispute the trade-in amount after delivery?
Yes, you can dispute the trade-in amount after delivery by contacting Rivian customer service. They will review your case and make adjustments accordingly.