Rivian saves up to $6,000 if you apply for a trade-in

Now might be the ideal time to upgrade your garage to add a Rivian R1T or R1S

Rivian aims to convince owners of hybrids and internal combustion vehicles to switch to one of its electric vehicles. To sweeten the deal, it’s offering up to $6,000 in discounts, but like most deals, there’s a catch. It’s not as simple as walking into a Rivian dealership and driving away. You’ll have to jump through some (admittedly minor) hoops to make these savings.

Discount breakdown

For those looking to purchase an R1T or R1S with a dual-motor configuration and the largest battery pack, discounts start at $3,000 in the U.S. and $4,300 CAD in Canada. Want a little more power? If you’re eyeing the dual-motor version with the biggest battery and performance upgrades, you can get up to $4,500 in rebates in the U.S. and up to $6,500 CAD in Canada.

READ: Biden administration finalizes $6.6 billion loan for Rivian before Trump takes office

But the real sweet spot is the Tri-motor model, with discounts of up to $6,000 in the U.S. and $8,600 in Canada.

How to qualify

To save on these costs, Rivian says you’ll need to request a trade-in estimate for your current vehicle, even though you don’t actually need to trade in. Any questions? You must order an eligible R1 model through the Rivian online store between January 21st and March 31st and take delivery of your vehicle on or before March 31st. So, yeah, not a lot of time to think about that. Also add some conditions, demo vehicles, used vehicles and custom vehicles are not eligible for the discount.

Admission price

If you want to actually buy one of these discounted vehicles, you’ll need to dig deep into your pocket. You see, while Rivian’s inventory now has a lot of eligible R1S and R1T models, they’re all relatively high-spec models, and none of them are cheap.

The cheapest R1S model we found is a pair of R1S dual-motor models with Max batteries, which sell for $89,900 each, or can be leased for about $1,099 per month. Depending on where you live, Rivian may charge a transfer fee of $350 or $800 to ship your selected vehicle to a nearby retailer.

Qualifying R1T Dual models also start at around $90,000. If you’re eyeing the tri-motor version, be prepared to spend more — stock prices for the highest-priced models range from $100,900 to $111,300.

In other words, Rivian’s discounts may look tempting, but you’ll still have to shell out a pretty penny to bring one of these electric cars home. However, for those eager to switch to electric vehicles, the savings may be worth it if you can live with the price tag and tight deadline.