i got a quote today with a local pa dealer for a 2020 ram 1500 limited black edition Lease
48/10
msrp 70120
rebates 6250
invoice 59555.85
769 a month
first payment due at signing
is this a good deal please let me know i really like the truck and i know im paying a premium i went in yesterday to check out a gladiator rubicon and i hated it. it was to small inside and then i seen this i just want to know is there anymore squeezing room in this deal he said this is the best he can do he started at 828 a month.
It is usually advised to do some research on the pricing through previous deals and current values (Edmunds has a forum specifically for getting people Residual Values and Money Factors) before even sending an email to a dealer. I understand you have to test the car out to see if you like it before you want to put time into getting a deal, but it is highly advisable not to negotiate in person. You need to get a full breakdown of the deal (Residual Value, Money Factor, all fees). We cannot help until we understand what is making up the deal.
8.0% discount pre-incentive. I would see what other people are getting discount-wise, as this already seems to be above invoice (which for some brands is more or less meaningless). I would also avoid going out-of-warranty with a FCA product, so stick to a 36 month term.
What is incorporated into that $6,164 Cap Cost Reduction? Also, what is the MF?
5.5k discount on a fully loaded Ram1500 is extremely weak.
what should it be at ?
I don’t believe you are using the term invoice in your post correctly
Generally an FCA dealer can go as low as 7% below invoice. Usually, this is about 10% off MSRP. Thus, I would try to get the pre-incentive price about $1500 lower, but for the most leverage you should find the actual dealer invoice on the truck.
Also, I would suggest you itemize your rebates to make sure you’ve got everything. Are you able to use a FCA affiliate code? Are you a PenFed member?
Most dealers are quoting Ally this month for Ram, so you should check to see what captive your dealer is quoting.
i am sorry im new i thought the invoice price is the selling price which is showing 64475 i don’t think i qualify for those but he mentioned to me he used all the rebated that he could but never gave me break down.
The invoice price is the amount the dealer is paying the manufacturer for the vehicle, it’s supposed to represent their cost. In concept, if you buy a vehicle at invoice the dealer does not make any money. In reality, the manufacture holds-back additional discounts which the dealer can earn through sales targets. Thus, for FCA dealers, they can usually go 7% below invoice before reaching their true cost.
oh ok i didn’t know that but im not sure how i could find that out because he will not tell me anyway but generally what would be a good price for this truck he told me in a phone conversation that he’s giving it to me at almost “58k which is unheard of”
the dealer said, US bank MF .0012
Why are you listening to a dealer telling you that the discount is the best discount? We are trying to tell you to look other places online (KBB, Edmunds, TrueCar, etc.) to find what those values are. Those give you an estimation of the discount you should be looking to get before you add incentives. The website values are based on previous car deals. Under certain circumstances, they can be useful.
There are still a lot of unknowns with this deal:
I am still not sure what is being added into that “Cap Cost Reduction” ($6,162.62) or what the $1245.47 is “Additional Cap. Items” are.
Iron out that you are not paying $6,000 down or buying a ton of PermaPlate before you start hunting for more discount.
A dealer who won’t show you his invoice is a giant red flag for me.
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i don’t know its hard to find these rams limiteds for a lease with no money down under 750 a month i had a few quotes in the 900s but the 769 is the best so far i wanted to do 730 but he wouldn’t budge so i offered 750 which i didn’t want to go over
Do not shop monthly payment.
Negotiate the car based on a monthly payment you calculated.
he said the additional cap was the Acq fee and the first month
Dude… are you reading what people are telling you? Are you going to do a little research based off of people’s suggestions, or are you just going to keep saying that you think 750 a month is a good price? Btw, it isn’t.
I am not sure if you are trying to justify a terrible deal to us because a few dealers told you this is the best they can do.
If you are not sure on how to put together a good deal, read the articles on Leasing 101 (ignore the 1% rule one). Then, figure out what the discount is based on what we have told you here. Plug that in plus the rebates into the LH calculator. Email that over to the dealers.
ok i will thank you