Who Leases? Who Purchased?

[TaterRam]

Just purchased a 2021 Big Horn Built To Serve this afternoon. Used my trade in for a down, used dealer financing for additional incentive, and am supposed to make a couple payments as a “gentlemen’s agreement” but there’s no prepayment penalty. The write off schedule they indicated is $24k upon first payment in Jan, then $3k payments for the next three. Otherwise would have done a cash deal but cash is no longer king.

 

[AmericanRebelution]

Bought my truck "prepandemic" in Aug 2019. $53K sticker, paid $44K (before taxes and such), got $13,500 for my 2009 Mustang GT on trade, financed for 72 months, 3.35%, payments are just under $500/months. I've never leased a vehicle - too many mods. The vehicles I don't drive daily don't get many miles put on them; my truck sees about 5000 miles per year. I don't plan to get rid of my truck any time soon, 10+ years. Maybe I should have explored a lease then buy out, but I was in a bit of a hurry to get things done. Had a baby on the way.

 

[RRRAAAAMMMM2020]

Yeah it's an arduous process to find the right deal but I'm not putting much effort into it tbh. I'm happy with my truck but if someone out there wants to give me a good price on it I'd be a fool not to listen. At the moment dealers across the country seem to be interested. I woke up to 12 emails yesterday and all I did was fill out a trade in valuation form on a few sites. Been on me non stop since. But I totally hear you on the Laramie's. I couldn't get past the price difference and did the same, got a well equipped (not balls to the wall loaded mind you) Sport. Considering I got a hell of a deal I'd say I made the right call.

Which end of the country are you in btw? Have any friends shell out the cash for a TRX? hint hint* (we should be friends)

I live in Saskatchewan. I wish I had the money for a toy car haha TRX lol

 

[wallyuwl]

Purchased. I did the math and depending on the input variables it was at least $4k better to purchase over three years accounting for residual, expected resale, buyout, etc. The numbers varied depending on the exact truck and the time frame I would keep it, but leasing was always in the red by thousands compared to purchase. I had a 2018 F-150 XLT that I got $35,500 for and owed $20,800. This truck was about $43,500 plus TTL and doc fee ($55,135 MSRP), I think around $45,000 OTD (not exactly sure). Payments $513 at 1.99% for 60 months with a local credit union, but I am paying $550. The payment on the Ford was $650.

 

[SD Rebel]

Purchased. I did the math and depending on the input variables it was at least $4k better to purchase over three years accounting for residual, expected resale, buyout, etc. The numbers varied depending on the exact truck and the time frame I would keep it, but leasing was always in the red by thousands compared to purchase. I had a 2018 F-150 XLT that I got $35,500 for and owed $20,800. This truck was about $43,500 plus TTL and doc fee ($55,135 MSRP), I think around $45,000 OTD (not exactly sure). Payments $513 at 1.99% for 60 months with a local credit union, but I am paying $550. The payment on the Ford was $650.

Same with me, even with out the Covid resale that has upped used vehicle values, I was always going to be in the black with a full size truck with heavy discounts within 1-2 years.

I've only made 15 moths of payments, with zero down and zero trade and I'm already about $10,000 in the black. Big thanks for FCA's 25% discount last year and of course the recent rise in resale. But even with out the usual high resale, I'm pretty sure I would be in the black within 2 years.

My 2015 F150 sucked up $4000 in negative equity that I rolled into my loan from a VW sedan. Even with all that, I was in the black after 3 years with zero down and zero trade on a long term loan.

For me, at least with the resale value of full size trucks, buying has been quite lucrative.

 

[JGRaider]

Traded 2019 GMC crew 4x4, paid cash for difference. A lease is called a "fleece" for good reason.

 

[trithumb]

I special ordered a laramie with a total of 65k worked them down to 54k and put down 5k. Monthly finance is 775.

 

[RRRAAAAMMMM2020]

2020 Ram 1500 Sport (see signature for details), MSRP $83,500 down to $63,300 (24% off). With taxes and 12k down at 2.99% $700/mth

 

[RideMilesFixSmiles]

Purchased my 2021 Limited along with trading my 2018 GMC. Have not set up payments as truck is currently waiting to be built but will likely set $1k/month payments so the balance will be gone in 3 years. 5yr 0% financing.

 

[50Front]

Traded 2019 GMC crew 4x4, paid cash for difference. A lease is called a "fleece" for good reason.

Buy or lease can be a fleece if you don't understand the numbers. Depending on incentives leasing can be the better deal many times. Should alway look at it both ways before pulling the trigger.

 

[Kpat1984]

Buy or lease can be a fleece if you don't understand the numbers. Depending on incentives leasing can be the better deal many times. Should alway look at it both ways before pulling the trigger.

It seems like December is a decent time to lease. I ordered a Laramie MSRP 64k With agreed price of 55k. I was planning to buy the whole time until December incentives rolled out. The incentices to lease for me were $1500 more than purchase. i would have paid probably $850 a month on 72 months but to lease right now it’s $490 a month. I don’t think the equity would be worth the difference in what I’m paying after 3 years. They I can have the fun of getting g another truck down the line. I could be wring but I didn’t really see the value in purchasing personally. I also only do about 9000 miles a year and normally trade in every 3-4 years

 

[glind23]

Bought a 2020 Ram Laramie 1500 eco diesel with all the options. MSRP was 74k sale price at 59k put down 20k and for 72 months 3.29% payments are $700. Bought the extra warranty as well.

 

[PorBoy]

Purchased, it was $50K and I put nothing down. I paid on average $2000-$2100 each month..

 

[Krootz]

I leased mine. Sticker was $51.6K.
Invoice was 46K, I got $10K in rebates and rolled $2K in from my trade. $36K out the door leased for 48 months at $425/mo

For me, paying half the monthly payment for a lease versus financing it for $800-900 made more sense. Even if I’m over mileage at the end, these BTS trucks should hold enough value to get out from underneath it if I decide to get into something different.

 

[njt07]

Purchased!

 

[thedream829]

Purchased for 62K, MSRP was 79K. 0% financing.

 

[rsmith7226]

Leased. 2021 Laramie. Sticker was $69,880. 42 month lease 10,000 miles 4k down $454 a month. I feel like I got a pretty decent deal for a lease.

 

[Condor757]

Purchased. 2019 Bighorn, loaded. MSRP $52,900... after all discounts, final purchase price $38,700. Financed at 3.99% at 72 months... just payed off in full this past summer and will enjoy this truck for 10+ years hopefully.
I leased a car once... never again. Don’t want to be hamstrung by miles, worried about dings, dents, etc. And, according to my buddy who manages several dealerships... leasing benefits the dealers close to 100% and close to zero for the one leasing.

 

[RRRAAAAMMMM2020]

Purchased for 62K, MSRP was 79K. 0% financing.

That's a smoking deal, 27% off and 0%

 

[Triman11427]

I have bought and leased vehicles in the past. The Laramie I’m currently waiting on is being leased for a couple of reasons. This will be my first truck, and I’m like a kid at Christmas, I cant wait. Since this is my first truck I wasn’t willing to commit to a long term relationship until I was comfortable with having a truck as my primary daily driver. In the past I purchased when I knew I was going to be keeping the car for over 4 years and I was buying a vehicle which wouldn’t depreciate too much ( a Golf R which comes out every 4 years). I’ve been told multiple times that buying a car is just buying a depreciating asset and wouldn’t make sense. The money you put down is better spent on investing And instead of depreciating your money can grow which would offset the payments. I’ve read this thread and it’s interesting how people have a different take on it.