Anyone done a LEASE yet?

[BaseballDad]

I got the following deal on my truck (details in signature)
MSRP was 46425
24mo, 10k/yr
Nothing at all out of pocket/no trade
169/mo (includes all tax/etc)
I think that was pretty good.

That's an awesome deal. Congrats!

 

[SilverNight2020]

Yep, it's official...I got ripped off

 

[Jako]

I have never leased as I keep my vehicles for the long term. I have 3 sons so vehicles just get passed down and 2 of them work where new cars would be a hassle to protect. I also don't like the fine print that would take me the length of the lease to decipher. I understand the benefits and believe it works well for many.
BUT here is my question:
If the warranty period is 36 months and you have a 39 month lease who is responsible if there is an issue at months 37, 38 and 39? Is this something that needs to be addressed if you lease beyond the warranty period and if so how is it done?

Thanks in advance to you leasers.

 

[Reel Irie]

I am on the fence about lease / buy for my next truck. I wish there was a magical calculator

I work from home so I am 10k miles and under easily. I do not expect that to change
I do enjoy a newerish truck
current truck is a 2017 Ram Lease ends Sept 30 - payment is $335 (zero down)
for my next truck if I finance may payment will be $525+ for 6 years (what value would that truck hold after 6 years?)
or maybe 2 leases during that time for less payment and still be at Zero end of year six

trying to decide....

 

[SilverNight2020]

I have never leased as I keep my vehicles for the long term. I have 3 sons so vehicles just get passed down and 2 of them work where new cars would be a hassle to protect. I also don't like the fine print that would take me the length of the lease to decipher. I understand the benefits and believe it works well for many.
BUT here is my question:
If the warranty period is 36 months and you have a 39 month lease who is responsible if there is an issue at months 37, 38 and 39? Is this something that needs to be addressed if you lease beyond the warranty period and if so how is it done?

Thanks in advance to you leasers.

Well I can tell you what my dealership told me is that the 3yr/36k is not really that at all. It is a 12month/12k bumper to bumper, minus wear and tear items, and then it is for manufacturer's defects only for the remaining 24 months.

 

[piening2150]

Well I can tell you what my dealership told me is that the 3yr/36k is not really that at all. It is a 12month/12k bumper to bumper, minus wear and tear items, and then it is for manufacturer's defects only for the remaining 24 months.

Actually, for 12 months they (should) cover everything INCLUDING many wear items like brakes. Just ask some Hellcat owners about getting those expensive front rotors replaced for free because of clicking or squeaking. Some dealers are better than others when it comes to warranty work though. But no dealer is going to replace your bald tires at 5k after you do a massive burnout

So it's basically 12m/12k includes wear items (within reason), 36m/36k bumper to bumper defects, and 60m/60k for powertrain issues.

To answer @Jako if you have a clunking ball joint in month 38 of your 39 month lease, you have to pay for it. Both because you're out of the 3/36 warranty, and because you are obligated to give the vehicle back to the lease company in good condition (or you can pay their damage fees instead or trade it in). A bad lifter in month 38 would be fixed under warranty though since you'd still have the 5/60 powertrain warranty.

 

[SilverNight2020]

Actually, for 12 months they (should) cover everything INCLUDING many wear items like brakes. Just ask some Hellcat owners about getting those expensive front rotors replaced for free because of clicking or squeaking. Some dealers are better than others when it comes to warranty work though. But no dealer is going to replace your bald tires at 5k after you do a massive burnout

So it's basically 12m/12k includes wear items (within reason), 36m/36k bumper to bumper defects, and 60m/60k for powertrain issues.

To answer @Jako if you have a clunking ball joint in month 38 of your 39 month lease, you have to pay for it. Both because you're out of the 3/36 warranty, and because you are obligated to give the vehicle back to the lease company in good condition (or you can pay their damage fees instead or trade it in). A bad lifter in month 38 would be fixed under warranty though since you'd still have the 5/60 powertrain warranty.

Well I guess the way they told me how the coverage works, I was convinced to get the 48 month warranty at cost and the wheel and tire protection plan. They sold me the key fob coverage at cost as well. Still thinking I got completely suckered by these. Talk about buyer's/leaser's remorse. But thinking about it just stresses me out, so I try not to dwell on it and just enjoy the gas guzzler of a good looking truck I now have. Might as well, since it's mine for at least the next 40 months.

 

[piening2150]

Well I guess the way they told me how the coverage works, I was convinced to get the 48 month warranty at cost and the wheel and tire protection plan. They sold me the key fob coverage at cost as well. Still thinking I got completely suckered by these. Talk about buyer's/leaser's remorse. But thinking about it just stresses me out, so I try not to dwell on it and just enjoy the gas guzzler of a good looking truck I now have. Might as well, since it's mine for at least the next 40 months.

My dad leased his first vehicle (which he is now buying out) and did the same. Did 15k/yr mileage because he was afraid of going over, even though he is retired and doesn't drive much. He also bought the wheel/tire and keyfob protection that he didn't need. I never buy any of the dealer add-ons, it's pure profit for them. Oh well, live and learn.

 

[SilverNight2020]

My dad leased his first vehicle (which he is now buying out) and did the same. Did 15k/yr mileage because he was afraid of going over, even though he is retired and doesn't drive much. He also bought the wheel/tire and keyfob protection that he didn't need. I never buy any of the dealer add-ons, it's pure profit for them. Oh well, live and learn.

Just spoke with sales manager at my dealer and he walked me through my deal. I am not saying there is something left out if the story, but not sure how these others got such a low payment. They were $600 behind invoice, just on the truck, then gave me $1k dealer rebate, my military rebate, and a month after buying, got a check from FCA for $1k. My payment is not necessarily as low as I wanted after adding all the extra warranty stuff, but I am at least more comfortable knowing they didn't get rich off me. He also offered to waive all Chrysler warranty cancellation fees if I don't want to keep my warranties. Setting up an appointment to have the eTorque system looked at for a possible recalibration next week and they are giving me a loaner while they have mine. All in all, a good productive conversation. He even went as far as saying if I want my old truck back, he will make it happen. Now to decide what I want to do. Loved my '15 F150 loaded, but really like the look and drive quality of this new Ram as well. Only traded because I don't like having vehicles that costly out of warranty, at least that's what I tell myself.

 

[yankeefan31569]

i lease mine thru my bank 60month 12k 366month $1800
down SEFCU Auto Advantage my bank up state communist ny

 

[Mr. Hindsight]

i lease mine thru my bank 60month 12k 366month $1800
down SEFCU Auto Advantage my bank up state communist ny

You did a 5 year lease? Or u financed?

 

[yankeefan31569]

yea 5 yr lease

You did a 5 year lease? Or u financed?

 

[Mr. Hindsight]

yea 5 yr lease

Hmm I didn’t think they went past 42 months.

 

[yankeefan31569]

sefcu goes up to 84 they basically buy the truck and you lease from the bank avoiding the dealer BS..

 

[Mr. Hindsight]

sefcu goes up to 84 they basically buy the truck and you lease from the bank avoiding the dealer BS..

Wow, if someone leases for 84 months, I’d say that kind of defeats the purpose of leasing.