[AmerikanMatt]

Just got my call and am starting the buying process. Super excited.

Surprised I didn’t find anything on this site regarding this topic….. but anyone been through the Rivian Financing process?

I am financing about 50% of the purchase price of the truck and have pre-approval from my Credit Union, so tempted to just ignore thier offer and try to keep the process streamlined, but curious if anyone has specifics about Rivian’s financing?

Obviously, the best rate will ultimately prevail, but I’m curious if entertaining their process will have any affect on my delivery timing.….. if someone told me I could shave a week off of my delivery timing by just going with Rivian Financing, I’d just do it and then transfer the loan to a lower rate later………

Any insight from someone who’s been through the process either way?

Thanks in advance!

 

[derekmw]

It shouldn't matter. I started financing through Rivian just to see their rate, but it was like 5% compared to the 3.24% I got from my credit union.

 

[CommodoreAmiga]

I did use Rivian Financial Services. The rate was higher than my local CU, but my timeline was truncated (literally got a call one morning and told they wanted to deliver to my house the next day and I needed to complete all 8 steps and verify payment by 5pm). The RFS process was definitely streamlined -- easy and fast. I am 100% certain trying to use a bank other than RFS would have scrubbed my delivery.

I've heard plenty of frustrations trying to get Rivian and other banks to play nice. It may be worth considering financing through RFS then planning to refinance with your preferred CU once you get your registration squared away. My preferred CU said they'd give me the same rate "new" vs a quick-refi, so other than the second hard-inquiry (NBD, imo) there isn't much downside. The difference in interest for 2-3 months is peanuts, and the reduced headache/stress is worth more, to me.

 

[derekmw]

In my case, it wouldn't have changed the timeline. They only wanted a pic of my check uploaded for the 8step, so I didn't even have to mail it. So IF my vehicle was actually here on time, I could have picked up the truck that day I got the loan from CU (which took 30 min and they had a check ready for pickup within the hour).

Once my truck did eventually come, I just brought the check with me on delivery day.

 

[ripemandarin]

Rivian (Chase) gave me 5.31% but I was able to get financing from my local CU at 2.79% back in May

It did not delay my delivery but the only thing I was needed to make sure that my CU sent them a check and gave me the picture of the check along with the tracking number for the envelope. After uploading the picture of the check and providing the tracking # the car was delivered on the same day it was scheduled initially