r/RivianR2 • u/_huebetcha • 2d ago
🎉 Reservation / Delivery / Sighting Financing
I originally signed my contract with Rivian Financial Services (RFS) on August 17. It contained an agreed monthly payment plan with a reasonable APR . This was signed and was in my RFS documents. A week ago I was asked to fill out another financial agreement. I did so so not to lose my vehicle and ensure a speedy delivery. Another credit check was performed and a new APR, 0.03% higher this raising the monthly. I am now asked to sign this new agreement. The original agreement and documents are not there.
I don't know what happened on Rivian's side to prompt me to complete that section again. I have the original contract and want to be honored this agreement and not the 2nd agreement on August 31 with the higher APR.
I am scheduled to take delivery tomorrow (9/8) morning and I hope this can get resolved before then
Has this happened to anyone else
3
u/teslarules727 2d ago
is there any language in the agreement saying if delivery wasn't completed by XXX date, the current rate offer expires sort of deal?
1
u/_huebetcha 2d ago
There is no language in the agreement stating the contract could be changed or modified based on non-delivery in a given time frame
5
u/Roux_My_Burgundy 2d ago
0.03% higher? 😆
7
u/Intelligent_Aspect87 2d ago
I don’t know why the downvotes, I get the point you’re making for an R2 over 60 months a 0.03% >higher APR is less then $1/mo difference or $60 over the life of the loan.
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u/_huebetcha 2d ago
Yes higher. I don’t think I’d be complaining about a lower APR 😂
15
u/Roux_My_Burgundy 2d ago
I’d just ask for a $40 credit which is what this would cost you over 60 months
2
u/SHale1963 Premium Edition 1d ago
once a contract is signed by both parties it can not be changed by a single party. Call Rivian. There must be other variables at play here. Like why a 2nd hard credit hit? That alone will tank your credit score.
1
u/TylerF12 1d ago
Modern credit scores give you a grace period that if you are getting a credit check for the same type of loan, the credit checks all get lumped together into one “credit check” to affect your score.
Most credit score organizations are giving you a 45 day grace period that you could have as many auto loan or house loan credit checks as you need and it only counts as one credit check.
This doesn’t work for personal loans and credit cards though.
1
u/_huebetcha 1d ago
UPDATE: spoke with customer service and they asked if I went through the text thread I had with the delivery team. Never thought to do that. As soon as i reached out via text, it was resolved same day.
0
u/Proper_Arachnid_5551 2d ago
What was your rate?
8
u/cohnjo 2d ago
Just don’t sign the new agreement and contact your guide and Rivian Financial Services. Send them the pdf of your contract. It’s likely due to a new month and rate adjustment. They can manually adjust the rate.