July 12, 2024

Rivian Online Trade-In Tool Goes Live and Gives EV Owners a Reality Check

Observations from the Rivian community have revealed that the electric truck maker has gone live with its dedicated online trade-in estimate tool. Initial impressions from existing Rivian owners have been quite mixed, with many stating that they would probably be keeping their current vehicles. 

Rivian’s online trade-in estimate tool (which can be accessed here) is designed to be easy to use. As observed by EV community members who tried out the system, Rivian has even make it easier for owners of other electric vehicles like Teslas to input information about their cars. For Teslas, Rivian can provide a trade-in estimate through a screenshot of the Tesla App’s vehicle specs section. 

Rivian owner Chris Hilbert, who initially posted about the update on social media platform X, noted that the electric truck maker’s trade-in process has been pretty cloudy in the past since the process was manual. With the online trading tool in place, electric vehicle owners could at least get an immediate and up-to-date estimate for their current vehicles. 

But while the rollout of Rivian’s automated trade-in estimate tool was appreciated by electric vehicle owners, the actual estimates from the system itself received more polarizing reviews. Some owners noted that the system seemed to crash as they used the online tool, while others received a message stating that their vehicles require extra review for a more accurate trade-in estimate. 

A good number of Rivian owners also noted that their trade-in estimate for their existing vehicles has been a bit shocking. This was quite evident in the Rivian Forums, where owners posted some of the results from their vehicles’ trade-in estimates. One user, who owns a 2022 R1T Quad Motor with over 46k miles, was given a trade-in estimate of just $46,770, while another who owns a 2023 R1T Quad Motor with 18,000 miles on the odometer was given an estimate of $58k. 

While such figures hint at a notable amount of depreciation for Rivian's vehicles, others have argued that the low estimates from the electric truck maker's trade-in tool may be partly due to the EV market itself. The prices of used electric vehicles in the United States are generally on a downtrend. According to an analysis of 2.2 million 1-5 year-old used vehicles, iSeeCars found that the average price of used EVs has seen an overall decline. In June 2023, average used EV prices were 25% higher than gas-powered cars, but in May 2024, used EVs were 8% lower than the average price of a used combustion-powered vehicle. 

Rivian, of course, is affected in these trends. And if one were to keep the overall trends in the used EV sector in mind, then the estimates in Rivian’s online trade-in tool may actually be quite reasonable.  

Check out some of our cool Rivian accessories for your R1T and R1S!

Want a cooler cabin? For those hot sunny days, the Rivian R1S Glass Roof Sunshade is a must-have. This custom-designed shade keeps the interior cool and protected from harmful UV rays. It's quick and easy to install and remove, with a handy storage bag for convenience. Plus, the included clips ensure a secure fit, so you can enjoy the ride without a worry.

Want to make your Rivian R1S look even cooler? The Rivian R1S Chrome Delete DIY Kit is a simple project that lets you ditch the chrome trim and achieve a sleek, modern look. It covers the chrome above the doors, behind the windows, and above the windshield, transforming your R1S with a clean, cohesive aesthetic. And the best part? You can easily install it yourself – no professional needed!

Need a license plate holder that goes on in a flash? We hear you! The Rivian R1T / R1S Front License Plate Holder "Quick Bandit" is the answer. This bad boy uses a special latching system so you can take it on and off in seconds – seriously, it's that fast! Perfect if you want to keep your Rivian looking sleek when you're out cruising.

Keeping your Rivian R1S sparkling clean just got easier! These All-Weather Floor Mats by 3D MAXPider are the real deal. They're made with a super durable material that looks great and protects your floors from all kinds of messes, rain or shine. The special grippy bottoms mean no slipping or sliding either.

Same goes for the Rivian R1T All-Weather Floor Mats by 3D MAXPider! They'll keep your truck looking sharp and protected no matter what you throw at it. 

Written by Teslarati Maria Merano