Need some quick help! Good deal?

[amm24dmb]

Ok, I'm bad with wheeling and dealing. Is this a good deal?

2014 Ram 1500 Crew Cab - MSRP is 42,475 with a selling price of 31,931. I am rolling in about 2,700 in negative equity and putting down 2,340.

For a 30 month lease, 12K per year = 341 a month all included. Sales tax, fees, etc. Seems like a good deal, but he's really pushing it on me so it raising a red flag. Figured id ask everyone here since you're the experts.

Thanks!!

 

[Etroze86]

What is the projected value of the vehicle after 30 months?
I think I would find that out and then deal off that number so you get a decent trade in also or is that what you mean by selling price. Just heads up these pickups are so comfortable it won't be hard to go over that 12k miles a year.

 

[amm24dmb]

Residual value after 30 months is 25,578. I have to think it will be worth more than that in 2 and a half years. I don't drive much either. Less than 10K per year, but 10K max.

 

[The Unabomber]

No. It's a lease. Never lease.

 

[Bully's Performance]

I generally am not a fan of leases myself, however if the situation is right then they are not always a bad thing, however for a lease yes that is a good deal, with that kind of a deal I would probably rather buy it than lease it myself.

 

[loveracing1988]

I can just tell you the deal I got and you can judge for yourself. 2013 Ram 1500 outdoorsman crew 6'4" bed. Msrp of 43k give or take. I rolled 1k negative equity in and put $500 down. I am paying $300 per month for 12k miles per year for 24 months. The residual is $29500 (which is what the truck is worth right now) I think they would have to come down a little more on the lease for it to be a good deal. For a purchase though that is a really good deal.

 

[earlzach]

If you need to lease to keep the payments down for the begining of the purchase then your numbers are not bad. If your going to consider keeping it in the end. Just be sure to committing to putting g something up each month to help you in 30 months turn it into a purchase able deal. Don't get caught in 30 months not being able to buy it because you will not have a trade in or cash. A lease is only good if your planning to finance it in the end to own.

 

[xXAvroArrowXx]

No. It's a lease. Never lease.

+1 I leased once. Never again. You pay & pay, then end up with nothing IMHO

Sent from my Nexus 7 using Tapatalk

 

[Lhemi]

Agree with ^^^ it's the nothing or a used truck at the end...

 

[NYCruiser]

Just go out 48 or 60 months and buy it for $31k. It'll still be worth over $20k once you pay it off with the mileage you drive.

 

[amm24dmb]

If I buy it though my payments will skyrocket to the 500's though and with a little bambino on the way I can't do that.

 

[fcbubba]

Do what you thing is right. My 2 pennies would tell you to wait till you pay off what you have. Save some $$$ and buy one. Cash is King, digging a bigger hole is not always the best thing to do!

 

[loveracing1988]

If I buy it though my payments will skyrocket to the 500's though and with a little bambino on the way I can't do that.

Smart money says to wait and buy it when you have more saved up, but if your like me by the time I had that amount of money saved they would have been in the next generation of ram its kind of hard to do that.
I planned on leasing and then buying the truck when done, but now with the mileage being what it is and the way the 4x4 system works there is no way I'm buying it, I don't know what route I am going after this truck but then again I still have until July of 2015.

 

[loveracing1988]

Residual value after 30 months is 25,578. I have to think it will be worth more than that in 2 and a half years. I don't drive much either. Less than 10K per year, but 10K max.

Btw their numbers aren't adding up either. You are paying for $6353 of depreciation, divide that over 30 months and that is $211 per month. Add in $12 per month for your negative equity and your still at $223 per month. That means you are paying $100 per month in taxes and fees and interest? The taxes and fees on mine were $23 per month. I would definitely go over the numbers with them to figure out where they are trying to screw you at.

 

[brianspriggs]

Buy it, dont lease it.

 

[loveracing1988]

Buy it, dont lease it.

A year ago I would have agreed with you, but if I would have actually bought my truck I would have been furious with the "problems" I've had, putting me back to square one where I was trying to get rid of my fusion because of the issues with ford dealers I was having.
If someone is only going to kwep a vehicle for 2 to 3 years leasing is the only way to go, the down payment required to get a buy payment down to the lease payment would be as much as the total price I pay with all of my lease payments together.

 

[The Unabomber]

I hope to not hurt someone's feelings. Most people that lease a vehicle do so because they can't afford the vehicle in the first place.

My advice is to save, and save some more. Leasing a vehicle is never a smart thing to do monetarily. It's just as bad as renting a place your entire life and not owning a home.

 

[loveracing1988]

I hope to not hurt someone's feelings. Most people that lease a vehicle do so because they can't afford the vehicle in the first place.

My advice is to save, and save some more. Leasing a vehicle is never a smart thing to do monetarily. It's just as bad as renting a place your entire life and not owning a home.

You are correct, it was a easy out, and while I am saving money leasing my truck by the end of the lease I will have a down payment on a new one, will it cost me more? For sure, but the other option was not having a truck, which wouldn't have ended well this winter.

 

[jagr200]

You are correct, it was a easy out, and while I am saving money leasing my truck by the end of the lease I will have a down payment on a new one, will it cost me more? For sure, but the other option was not having a truck, which wouldn't have ended well this winter.

lol. You silly people relying on 4x4 to drive through some snow.


Leasing isn't a terrible idea IMHO. I can afford to go out and buy a vehicle right now no problem. I actually just bought a truck straight up. But I plan to lease my wife a new car. Why? Because she is needy and I love her. haha. Happy wife happy life.

 

[Bully's Performance]

lol. You silly people relying on 4x4 to drive through some snow.


Leasing isn't a terrible idea IMHO. I can afford to go out and buy a vehicle right now no problem. I actually just bought a truck straight up. But I plan to lease my wife a new car. Why? Because she is needy and I love her. haha. Happy wife happy life.

I agree with this ^^^ "Happy wife happy life" leases are good if you like to have a new vehicle every couple of years and don't mind maintaining a payment