2019 Ram - Lease buyout

Any advice or suggestions would be helpful. I currently have a 2019 Ram (Big Horn) with about 28k miles, in New York for reference. The lease is up in October and miles will be well under so that’s not any concern. My current payment is $395/mo. From what I’m being told, the closer to October the more difficult to buy out the lease (with Chrysler Capital).

A dealer reached out to me about getting into a lease but I don’t seem to love any trucks on the market within the price range of my comfort. I love my truck now so I am not opposed to buying the lease so the dealer suggests buying/financing.

The dealer gave the buyout of $30,200. Quoted terms for 72 and 84 mos. Payments range from $399 to $520 based on term and money down. Not too much more information yet, I can find out more if it helps. I’m not overly concerned about the payment range at this point. He also said mentioned that Ram (CCAP) is including a 7 year, 100,000 miles extended warranty right now when leasee’s buy out their lease.

I asked about possibly becoming upside with the current market and gas prices. My research leads me to believe the economy, in general, isn’t going to better any time soon. But the dealer believes in a year or year and a half the market will correct itself and the equity in the truck will be fine.

Do you think it is smart to buy out at that price? Or would it be better to find a new lease? Similar trucks are being listed around $38k - $41k so clearly a great buyout price. I am worried about becoming upside on the equity vs. loan…

Did you check your residual to make sure the dealers buyout is the same as the residual?

Other than that, strictly personal preference. If you like the truck and don’t mind having a larger tank to fill, buy it out. If you would prefer something smaller, different, lease or buy but the leasing market is not favorable for buyers now unless you want a frontier or 4xe.

I think he is trying to say he is selling you a warranty to make some $$ in this buyout. Check the residual value, add tax and that is your payoff. Or just call CCAP and get it.

I’ll have to check the residual, thanks for the info!

Don’t even talk to a dealer unless you absolutely have to, for contractual reasons. They are just trying to stick their nose where it probably doesn’t belong.

What does your lease say about purchase at lease end? Does it say anything about involving a dealer?

If your lease agreement is a standard one you’ll have an ironclad option to buy the vehicle at the end of the lease at the $RV aka purchase option.

Arrange your own financing thru bank, credit union or specialty lender. Do not add a middleman just to let him take a piece of the action…. Out of your pocket.

Thanks for the input, greatly appreciated. I wanted to ask him why he reached out to me, honesty. It wasn’t even where I leased my current truck from. I was wondering why do I care or need to go through them and just wait it out to see what this summer holds.

Hey man, wondering if you wanted to share what you ended up doing? I am looking to potentially lease a RAM with the intent to buy it out at the end since the residual seems to be much lower than the current depreciation in the market. Just curious how you would rate the buy-out process overall.