2019s Coming Off Lease Question

[Timeless]

Hope this is the correct forum.

Anyways, for those that have had their 3 year lease coming to an end how how the process been?

I'm curious to the truck value vs the buyout you are allowed at the end.

I'm on a four year lease which means Nov 2023 will be my end date. For $30K I can buy the truck or walk away. Truck will prob have around 30K miles on it as I do not drive it too much.

I know it is a bit more than a year away, but I suspect I will need to place orders for whatever I decide within 6 months of my end date.

Thanks!

 

[OhioBigHorn]

I have a 42 month lease. Buyout will be roughly $24,500. It is up in June. Probably will have 26 or 27 thousand miles on it. I plan on purchasing the truck. Sounds like a reasonable price to me compared to today's pricing.

 

[OutlawHemi22]

Hope this is the correct forum.

Anyways, for those that have had their 3 year lease coming to an end how how the process been?

I'm curious to the truck value vs the buyout you are allowed at the end.

I'm on a four year lease which means Nov 2023 will be my end date. For $30K I can buy the truck or walk away. Truck will prob have around 30K miles on it as I do not drive it too much.

I know it is a bit more than a year away, but I suspect I will need to place orders for whatever I decide within 6 months of my end date.

Thanks!

Bought my old Ram lease when it was up in May for $35,100. Sold it to Carmax 2 weeks ago when i picked up this 22 Limited. They bought it for $42,400. Made a quick $7k

 

[TheMadDutchDude]

I bought my '19 when the lease ended, and it couldn't have been easier. You get a letter in the mail telling you what your options are, either return it or buy it. If you opt to buy it, call the bank that holds your lease, and they take care of most of it.

If you really wanted, you can probably get more for it than what you owe on it, and maybe lease another one while pocketing a quick $5k+, but that's your call.

My truck is worth around $8 to $10k more than what I owe on it currently... which is a big, big help towards my next one. That TRX is calling my name, and I'm ready!

 

[OutlawHemi22]

I bought my '19 when the lease ended, and it couldn't have been easier. You get a letter in the mail telling you what your options are, either return it or buy it. If you opt to buy it, call the bank that holds your lease, and they take care of most of it.

If you really wanted, you can probably get more for it than what you owe on it, and maybe lease another one while pocketing a quick $5k+, but that's your call.

My truck is worth around $8 to $10k more than what I owe on it currently... which is a big, big help towards my next one. That TRX is calling my name, and I'm ready!

You’ll spend that $8-$10k on fuel alone if you get a TRX

 

[PurpleRT]

More smiles per gallon


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[Jako]

More smiles per gallon


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Good point! MPG and the miles and smiles ratio. Just did 20+ mpg on a total of 80 miles mostly highway, very happy with my Ram.

 

[Dustin_Tarditi]

My past 3 leases have left me in positions where the vehicle was worth more than the residual value.

In 2 cases, I used the "equity" towards purchasing a new (to me) vehicle, in 1 we just bought the vehicle outright and kept it as it was only slightly positive and we'd spend a lot more to replace it with something comparable.

 

[Timeless]

Thanks for the replies everyone. I am hoping to either keep it or buy it and turn it around for some cash...this is encouraging.

 

[TheMadDutchDude]

Now is one of the rare times where it’s possible. Take advantage while you can. If I was in a more ready to buy state for my TRX, I could’ve gotten $15k out of it. My truck, albeit nothing special at all, was worth close to what I paid three years ago…

Whatever you do, you can’t really lose currently. If you’ve got the urge for new, and warranty etc., lease another and see where life takes ya in three more years.