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Lease ending, wait for 2022?

NB099

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Hello, this is my first post since finding this forum and I wish I did sooner! I'm currently leasing a 2019 1500 Big Horn and exploring my options. It's my first truck and I used the lease as essentially an experiment of whether a pickup made sense for my lifestyle, work, etc. and I would like to stay in the RAM family.

With the current used market, it appears my best option is to either buy the vehicle out or use it as leverage for a new one. For reference, buyout is ~29K and my same vehicle w/similar mileage is averaging between $37-40K on lots (I'm in North NJ). I understand that there are numerous factors at play here, but I don't know whether to look at 2021 models or potentially wait/order a new 2022. Conventional wisdom says the inflated used market won't last forever and I should take advantage while I can. Conversely, I buy it out and hold for the 2022 models with updated Uconnect and such to try my luck there but there's the risk of the used market value decreasing and low available inventory into next year.

I realize that everyone's situation is different and there is no "one-size" solution. I'm just looking for some advice from those who are more familiar and knowledgeable with the RAM market. Thanks!
 

Eighty

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The current thought is that the chip shortage will last for a long while (another year), so I suspect that used prices will remain fairly high, and new inventory will be hard to come by. You could certainly order a new truck and wait for 4-6 months, provided you have an option for transportation in the meantime. If your buyout is $10k less than resale, then it seems to make sense to buy it out. And when the 2022 order comes in, you’ll likely make money (or at least, not lose money) on the trade-in.
 

LHarv

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Buy it out and keep it as a value on trade. Probably get more money out of it and still get that upgrade.
 

Hydroblueguy

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Hello, this is my first post since finding this forum and I wish I did sooner! I'm currently leasing a 2019 1500 Big Horn and exploring my options. It's my first truck and I used the lease as essentially an experiment of whether a pickup made sense for my lifestyle, work, etc. and I would like to stay in the RAM family.

With the current used market, it appears my best option is to either buy the vehicle out or use it as leverage for a new one. For reference, buyout is ~29K and my same vehicle w/similar mileage is averaging between $37-40K on lots (I'm in North NJ). I understand that there are numerous factors at play here, but I don't know whether to look at 2021 models or potentially wait/order a new 2022. Conventional wisdom says the inflated used market won't last forever and I should take advantage while I can. Conversely, I buy it out and hold for the 2022 models with updated Uconnect and such to try my luck there but there's the risk of the used market value decreasing and low available inventory into next year.

I realize that everyone's situation is different and there is no "one-size" solution. I'm just looking for some advice from those who are more familiar and knowledgeable with the RAM market. Thanks!
I like new trucks, however with the chip shortage now and getting worse. Some are saying they have been told expect up to a year for their 2022 orders??? If your 19 has been problem free, you might want to buy that out. I’m not sure what makes the most financial sense? I would never lease as I did the math and to me it cost more to lease as I only put 8000 miles a year on my truck! However things have changed since Covid! Also I’m here to tell you first hand, these new ram trucks have lots of issues, I had unresolved issues with my 19. I see many of the issues from the the new 5 th gen build as still existing today. I had a 2021 ram built and except for tires wearing funny again, it’s been good with only 4600 miles🤞I’m jumping to a new tundra in a few years! Good luck with whatever you decide😁
 

AMS Guru

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I agree with all the responses on here. If you're able to either "buy it out" and trade in for instant equity (with an available alternative transportation device) or order one and hope it holds value (which it should), I'd go for it.

I've been very fortunate the market so far over the past three years has timed itself so that I've been able to trade each time very reasonably (so much so I'd be dumb NOT to). I pack on between 36-40K miles/year. Eventually the bubble will burst but it would appear it's going to hold for at least another year. 🤞

I do know first hand in my business that any "guaranteed" timeframe is laughable and any dealer that "guarantees" you an ordered truck will be in within a certain timeframe better put that in writing for you with a significant penalty to YOUR favor if it arrives later than that timeframe.

I'm like a lot of others on here where I'm driving myself nuts waiting for this truck-spending WAY too much time on this forum 🤣🤣🤣-and I'm a generally patient person but like instant gratification on purchases such as this. I purposely FORCED myself to enter this "torture chamber" of waiting so that I live first-hand what some of my own customers are experiencing and to maybe teach myself some better self-control.

I was fortunate to have a "beater" at home to drive in the meantime and it's driving me nuts. (I handed over my keyfobs on the 2020 to maintain/guarantee my trade difference) Only way I could prevent the dealer from bending me over later as I would have NO leverage at that point-they essentially could charge/trade for whatever they felt like really.....
 

NB099

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Thanks for the replies! This may seem like a dumb question, but how exactly do you go about ordering a 2022? I don't even see the options on RAMs main website. Do you contact a local dealer first? I've read through much of the main order thread but couldn't find exactly how to start the process and compare options/pricing.

Completely understand the no guarantees which is my main hesitation. With this being my only vehicle I'm just trying to make the *hopefully* best decision possible.
 

Eighty

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Yes, you have to talk to a dealer. I expect the Ram site to be updated in the very near future, but you still need to talk to a dealer to place the order. So skip the website - it usually has errors anyways.
 

nc_beagle

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Your decision to order a 2022 may come down to what trim you want and if it isn't one of the higher ones, what options you're willing to do without. Someone will correct me if this is wrong, but I believe some safety features are unavailable on the lower trims right now.
 

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