Lease Payment Good or No?

[cyclone.1983]

I am in the process of buying a 2013 ram slt crew cab that lists for about $40,500. I am going to lease it as I have all of my vehicles since I turned 16. The sale price I am buying it for is about 31,500, and the lease payments are $365/month 0 down tax included......does this sound good to you guys? the last ram I leased was in 2007 and my payments were $300 0 down tax included so this seems high.

Im in Iowa if that helps.

 

[audio1der]

The payment sounds about right, but I'm confused. If you've kept all of your vehicles since you were 16 (14 years ago), why would you lease this one? To keep payments down? How will you pay the balloon payment at the end? Those end payments often have to be refinanced at higher rates than the original payments making it more expensive to lease than finance.
OPr maybe you just want a new truck every 3 years or so? If that works for you, cool.

 

[0212353]

Those end payments often have to be refinanced at higher rates than the original payments making it more expensive to lease than finance.

Not quite....

I just bought out my lease a few months back.

I went to the local credit union and got a loan, at 1.99%

 

[fdnj48]

That sounds a tad high on the payment if you're getting the truck for $31,500. My brother just leased a sport for 39 months with 12k miles with a sticker of I think $48k with $0 down and his lease is $333

Sent from my SCH-I535 using Tapatalk 2

 

[Big Boi]

If you've kept all of your vehicles since you were 16 (14 years ago), why would you lease this one?

I am going to lease it as I have all of my vehicles since I turned 16.

 

[0212353]

does this payment include taxes? (some states have that, not sure on yours).

 

[fdnj48]

My brothers?

Sent from my SCH-I535 using Tapatalk 2

 

[cyclone.1983]

I would like to hear the details of that 48k leased for 333 per month. even if he bought the truck for say 38 wich is entirely possible, using math, I dont see how you could possibly come to that figure. If you can, I would like the exact details to present to my dealer.

 

[0212353]

My brothers?

Sent from my SCH-I535 using Tapatalk 2

Either.

 

[fdnj48]

After all the rebates and the dealers discount he got the truck for about $36k. I don't have a copy of his contract but I was with him when he picked up the truck and I was in the finance office with him so I heard all the numbers being discussed. He's paying $333 a month with $0 down all taxes and fees included. Don't know how he got them that low but he did!

Sent from my SCH-I535 using Tapatalk 2

 

[quietpeen]

That sounds a tad high on the payment if you're getting the truck for $31,500. My brother just leased a sport for 39 months with 12k miles with a sticker of I think $48k with $0 down and his lease is $333

Sent from my SCH-I535 using Tapatalk 2

there has more to this equation...did he have a trade in which was figured in? to me the 365 the OP is asking about is not high

 

[fdnj48]

Nope no trade. He turned in his leased 09 and got the 13. I know it sounds crazy but it is what it is I guess. I have absolutely no reason to lie about it lol

Sent from my SCH-I535 using Tapatalk 2