Rivian is offering 1.99% APR on the purchase of any 2025 R1 vehicle this month

Rivian has pulled a new demand lever for October as it starts to phase out of its 2025 vehicles, offering an enticing low APR of 1.99% on the purchase of any R1 model. Anything helps following the official end of the $7,500 federal EV tax credit.

As we reported earlier this week, the federal EV tax credit officially ended on September 30, 2025 (whomp whomp), leaving the opportunity for discounts and incentives entirely in the hands of individual automakers like Rivian.

On October 1, we were already starting to see how lease and purchase prices were shaping up post-incentives, especially from American EV automakers like Rivian and Lucid Motors. While some R1 lease prices decreased, other variants increased.

As for purchases, Rivian prices have remained steady, but the company has introduced a new incentive for October only, offering extremely low APR financing on all its 2025 models.

Rivian has low APRs on any 2025 or 2026 R1 purchase

Earlier today, Rivian sent out an email announcing its 1.99% APR offer for all 2025 Rivian R1 purchases, available to “qualified buyers.” The low interest is good for 60 months, but customers must take delivery of their new R1S or R1T by October 31.

Here’s the fine print:

Financing offer available to U.S. residents on purchases of new 2025 Rivian R1T and R1S vehicles ordered through R1 Shop and financed through Rivian Financial Services.  Qualified customers can receive as low as a 1.99% APR for 60 months with 60 monthly payments of $17.54 for every $1,000 financed.  Offer subject to credit approval and vehicle availability. Not all applicants will qualify, and APR may vary based on past credit performance, financing term, and amount financed.  Amount financed cannot result in a loan-to-value ratio greater than 100%.  For example, on a new 2025 R1T Dual Motor with Large battery in LA Silver priced at $78,795  (including an $1,895 destination charge) with an Amount Financed of $78,295, very well qualified buyers may obtain a 1.99 % APR over 60 months with monthly payments of $1373.12.  Requires a $500 deposit. Advertised examples exclude taxes and fees. Taxes, registration and other fees will apply.   No other down payment required unless the loan-to-value ratio is greater than one hundred percent (100%).  Offer open from 10/1/2025 to 10/31/2025.  Buyer must take delivery on or before 10/31/2025. Cannot be combined with other offers. Void where prohibited.  Offer subject to change or termination at any time.

This is a wise move, as Rivian looks to not only continue increasing EV deliveries to meet its (now narrowed) annual guidance for 2025, but also to make way for its 2026 R1 models, which are currently on sale. Speaking of which, customers interested in purchasing a 2026 R1S or R1T can still qualify for favorable financing terms, as Rivian is offering 3.99% APR for 60 months.

What do you guys think? Is a low APR enticing enough to get behind the wheel of a 2025 or 2026 Rivian purchase? Or would you rather stick with a lease while we await the arrival of the R2 next year? You can learn more about lease and purchase incentives from the Rivian team after scheduling a test drive, if you haven’t done so yet.