[RivianFailure]

Has anyone completed a trade-in their alongside their Rivian delivery? I was curious about the exact logistics and timing confirmation of trade-in value. Per the purchase agreement it says that Rivian has the right to make any adjustments to the trade in value estimate. I wanted to confirm that that happens at the moment of trade-in and acceptance of the Rivian and not that they are doing adjustments after the fact a week later when they have already taken your car. Any feedback?

 

[moi]

Good question. I will decide which vehicle to trade based on how they value so it would help to know ahead of time.

 

[RivianFailure]

The value they gave me for my Tesla was solid. Slightly more than Carmax and essentially the same as Shift. The language is opaque and seems to give Rivian the ability to unilaterally change the trade in amount after they take your car away

 

[RITVT]

If they off-set the sale price by trade amount and list that on the P&S as FINAL, then it is should be considered locked (once signed). Is that how they are handling it and what they are doing with the trade in value?

 

[RivianFailure]

Per the purchase agreement “You agree to pay to Rivian, upon notice, any adjustment to Your Trade-In offer”. It doesn’t stipulate a time period because obviously if they materially adjusted the trade in before they took it you wouldn’t necessarily give it to them. If it was after the fact when you took your Rivian and they took your car you are at their mercy.

 

[RITVT]

Unless it is a line-item in the P&S, you have your Rivian, you no longer have your trade-in, and the P&S has been executed.
If you had your Rivian, then you would have a fully executed P&S.
If the trade in was processed as a payment (and not a credit against the sale price on the P&S), and you still had your trade-in vehicle in your possession without transference to Rivian, then that would be a different story I suppose.

 

[RivianFailure]

The trade in is reflected on the P&S as a credit not a payment.

 

[RITVT]

OK. I guess the next question is, do you sign the P&S (with the trade-in credit reflected) before they take your car away? If so, there shouldn't be an opaqueness at all. Done deal.

 

[RivianFailure]

You actually sign it before they set up delivery. They then arrange a delivery and take the car away. TBD any adjustments that may be made occur at the time of delivery or after the fact which is the whole premise of this conversation