Please help, don't want to get ripped off

[blasius01]

Can anyone help me to determine if this is a good lease rate? In a nutshell the msrp is $66030 on a loaded night edition Laramie. The sale price is $57,518 with dealer rebates of $4,000 bringing the price of the truck down to $54,294 after $1,627 in sales tax . With 2k down the lease payment would be $525 a month for 42 months on a 10k mile lease. The residual is $36,316. Seems like theres like 3-4 k left on the table somewhere or am I wrong? Thanks so much

 

[blasius01]

so If I did the math right, paying 525 a month for 42 months plus my 2k down, im paying 24,050 over 42 months. if the sale price after tax is 55,145 - 24050 = 31,095 and the residual is 36313 ... am I really paying 5217 in interest?

 

[Teamcook]

I'll let someone smarter than me weigh in on the finance part, but I'm worried about the 10k miles - are you sure that's enough? I ask, because the trucks are so nice, the family wants to take "the new truck" everywhere we go...

Sent from my SM-G955U using Tapatalk

 

[blasius01]

I'll let someone smarter than me weigh in on the finance part, but I'm worried about the 10k miles - are you sure that's enough? I ask, because the trucks are so nice, the family wants to take "the new truck" everywhere we go...

Sent from my SM-G955U using Tapatalk

Thanks... I have a 2017 viper and a widebody hellcat I drive in the summer... I im sure it will be fun though

 

[Fmrchvy]

I agree, you’re overpaying for that truck. I’d say you shouldn’t be paying more than $52k. Granted, I have a ‘19 Laramie that stickered for $54,990 and paid around $40k. That price seems awfully high for a Laramie, while mine isn’t a night edition, I have a lot of great options. If you feel like that is the truck for you, then go for it. However, you can likely get a much better deal than that.

 

[Neurobit]

Can anyone help me to determine if this is a good lease rate? In a nutshell the msrp is $66030 on a loaded night edition Laramie. The sale price is $57,518 with dealer rebates of $4,000 bringing the price of the truck down to $54,294 after $1,627 in sales tax . With 2k down the lease payment would be $525 a month for 42 months on a 10k mile lease. The residual is $36,316. Seems like theres like 3-4 k left on the table somewhere or am I wrong? Thanks so much View attachment 41497

Seems like an awful high price for that truck. IDK enough about leases. I’ll let someone else chime in about that.

 

[Pepper]

They need to reduce the sales price by $3,000.
Also, I'd ask for $0 down. I know my payment would be a little higher but $6,600-$7,000 I'll keep in my pocket.

 

[AbitaPro]

Can anyone help me to determine if this is a good lease rate? In a nutshell the msrp is $66030 on a loaded night edition Laramie. The sale price is $57,518 with dealer rebates of $4,000 bringing the price of the truck down to $54,294 after $1,627 in sales tax . With 2k down the lease payment would be $525 a month for 42 months on a 10k mile lease. The residual is $36,316. Seems like theres like 3-4 k left on the table somewhere or am I wrong? Thanks so much View attachment 41497
[

Can anyone help me to determine if this is a good lease rate? In a nutshell the msrp is $66030 on a loaded night edition Laramie. The sale price is $57,518 with dealer rebates of $4,000 bringing the price of the truck down to $54,294 after $1,627 in sales tax . With 2k down the lease payment would be $525 a month for 42 months on a 10k mile lease. The residual is $36,316. Seems like theres like 3-4 k left on the table somewhere or am I wrong? Thanks so much View attachment 41497

Any cash you put down is Dealer profit, I’d go for 0 down and 24 or 36 months, 42 months seems a little long for a lease? As far as the rest, do some searches online to get a better understanding of how to get the lease done in your favor.

 

[Amprice4]

Seems a little high but not unreasonable. The money factor is .00107 which essentially equates to an interest rate of 2.568%. They are giving you the "buy rate" so they aren't trying to mark up the money factor. 42 months is the sweet spot right now since the residual is the same 55% at both 42 and 36. The only way to get the payment lower is to have them knock more off the selling price of the truck. I would also never put money down on a lease, if the truck is totaled or stolen you lose that money forever. Have the dealer cut you a check for the $1500 equity in your trade. It they won't move off the price of the truck, try to get them to give you more for the trade. Good luck!

 

[50Front]

I would definatly go at least 12k per year, the difference is minimal. Also, go 36 month so you are under warrenty the entire time. Nothing worse then paying to fix a rental. I'm not sure if your deal is good, i leased mine in July of 18 so i don't know whats considered good today. I'm paying $600 on a 61.5k msrp with 12k/36 month with zero down. My deal was not great but at the time this was the only one available that had all the options i wanted.

 

[tyresmoker]

Selling price of $53,518 from a list of $66,030. That looks like a decent deal to me...

 

[drstein]

Seems a little high but not unreasonable. The money factor is .00107 which essentially equates to an interest rate of 2.568%. They are giving you the "buy rate" so they aren't trying to mark up the money factor. 42 months is the sweet spot right now since the residual is the same 55% at both 42 and 36. The only way to get the payment lower is to have them knock more off the selling price of the truck. I would also never put money down on a lease, if the truck is totaled or stolen you lose that money forever. Have the dealer cut you a check for the $1500 equity in your trade. It they won't move off the price of the truck, try to get them to give you more for the trade. Good luck!

GREAT advice. Lease numbers ( m/f, residual) often mean as much or more than the money off. And never put any real money on a lease (-1k) Funny, usually 36 month is the " sweet spot " , and as 50 pointed out, its a 36mnth warranty. I'm surprised the m/f is that good.

 

[Mr. Hindsight]

Hey everyone! This is my first post, I’ve been following this site for some time now. About a month ago I leased a 2020 Ram Bighorn crew cab with the night edition, level 2 equipment / led lighting package. For a reference my lease is $405 per month (taxes included) for 36 months with 10k miles per year. I was in a 2017 Dodge Charger lease with 5 months remaining and the dealer bought it from Chrysler Capital and paid my remaining payments. I got into the Ram with $0 out of pocket and the dealer made my first payment. I’m really enjoying it so far.

 

[iamtheav8r]

Leasing 101 is do not put your cash into the lease as a "down payment". All you're doing is buying the payment down. Keep your money in the bank and use it to offset the payment amount each month.

When leasing cars first started back in the late 80s. I was the first F&I guy in our area to write leases, then on Lincoln/Mercury products. It was an easy way to turn a light deal into a "full pop" (sticker price or higher), keep a customer happy with their payments and bring them back every 3 years for a new car, like clockwork.

Today, leasing is a necessity as new cars are ridiculously over-priced and trucks are worse. The avg car increase in price is 28% while trucks are 61% or more...there is no reason for this other than demand. Leasing provides a way to keep payments lower and due to the way leases are configured it can make it difficult to understand what you're paying. Most buyers are focused on payment which makes leasing perfectly suited to move iron. Manufacturers will also buy you out of your lease early as a way to keep you "captured" in their vehicles. Smart and makes most people happy.

Good luck with the deal. Don't put any money down. Make sure you understand what you're paying.

 

[tyresmoker]

Leasing 101 is do not put your cash into the lease as a "down payment". All you're doing is buying the payment down. Keep your money in the bank and use it to offset the payment amount each month.

When leasing cars first started back in the late 80s. I was the first F&I guy in our area to write leases, then on Lincoln/Mercury products. It was an easy way to turn a light deal into a "full pop" (sticker price or higher), keep a customer happy with their payments and bring them back every 3 years for a new car, like clockwork.

Today, leasing is a necessity as new cars are ridiculously over-priced and trucks are worse. The avg car increase in price is 28% while trucks are 61% or more...there is no reason for this other than demand. Leasing provides a way to keep payments lower and due to the way leases are configured it can make it difficult to understand what you're paying. Most buyers are focused on payment which makes leasing perfectly suited to move iron. Manufacturers will also buy you out of your lease early as a way to keep you "captured" in their vehicles. Smart and makes most people happy.

Good luck with the deal. Don't put any money down. Make sure you understand what you're paying.

Man, you ain't kiddin about leasing in the '80's! I was selling Cadillacs at the time (paying my way through undergrad school) and leasing was just catching on. Our goal was to get the professionals out of their MB's after they paid the residuals and passed them on to their kids! Those were the days...The car biz was FUN back then!

 

[gpbst3]

About a month ago I leased a 2020 Ram Bighorn crew cab with the night edition, level 2 equipment / led lighting package. For a reference my lease is $405 per month (taxes included) for 36 months with 10k miles per year. I was in a 2017 Dodge Charger lease with 5 months remaining and the dealer bought it from Chrysler Capital and paid my remaining payments.

I have to see your finance paperwork to believe this one. Thats a smoking price on a lease. You would have to be on the extreme low end of the bell curve of lease payments.

 

[JDBob35a]

I'll let someone smarter than me weigh in on the finance part, but I'm worried about the 10k miles - are you sure that's enough? I ask, because the trucks are so nice, the family wants to take "the new truck" everywhere we go...

Sent from my SM-G955U using Tapatalk

What Teamcook said, I'd be worried about the 10K. My wife has a practically new SUV that we drove everywhere. Bought the new RAM and I guess the new never wore off, I've hit 20,000 this year. Previous trucks I did a little over half that. We drive the RAM everywhere now, her car sits in the garage except back and forth to work.

 

[Mr. Hindsight]

I have to see your finance paperwork to believe this one. Thats a smoking price on a lease. You would have to be on the extreme low end of the bell curve of lease payments.

Yeah I thought it was pretty good too. I’m not sure about posting the actual paperwork but here is my monthly statement.