Hi, looking at leasing a 2021 Ram 1500 Lone Star (aka Big Horn) Night Edition Crew Cab 4x2 with the 5.7L Hemi with ‘Big Horn Level 2 Equipment Group’. Sticker is $49,585. Location: Austin, Texas 78717.
Trying to see what would be considered a good deal on a 36 or 39 month lease with 10K or 12K miles with $2,000 down. I’d prefer not to put any down but it looks like I’ll need to throw some down to help get the payments to a monthly amount that will make me less sick to my stomach.
I know there are tons of incentives, holdback, and EP (Employee Pricing) right now but it’s always tricky navigating the car buying process and trying to read salesman and ensure I’m not getting taken advantage of. Also, if you know the money factor / residual that would be nice.
The person I spoke with was saying 49% but in looking on Edmunds I thought it would be a bit more. They are saying they could do the selling price of $1,000 below factory invoice. They said on a Finance the EP was more favorable but on a lease that EP doesn’t carry over as advantageously and they were helping me with the $1K off invoice, or so they said. Also, could there be any advantage if I found a 2020 in stock still for a better incentive on a lease?
Thanks for your help in ensuring I am informed and make a good lease decision and whether or not I should keep looking.
I’m going to try to help the best I can here because I deal with questions about RAMs weekly brokering them here in NY.
The Night Edition (at least in the northeast) is one of, if not the most, in demand truck in our market. Finding a dealer willing to give you a deep pre-incentive discount on one might be little tough, unless they are plentiful in Texas. I can tell you that they are not here. As for 2020’s, there isn’t a single 2020 Night Edition within at least 250 miles of me. Again, might be different by you, but I doubt it.
Employee Pricing doesn’t apply to leases, and don’t use that as a target for a discount, in many cases EP is lower than invoice and holdback and FCA doesn’t offer that pricing on leases. Their EP pricing is legit if you are looking to buy.
CDJR dealers use many different banks. I can tell you that this month we were doing deals thru at least 4 different banks based on what bank was offering the best MF/RV combined with IDL cash (non-captive bank incentive) from FCA. Finding out the residual from a source other than the dealer can be hard because many sites don’t have the programs for other non-captive banks.
As far as targeting a discount goes, on a night edition, I think 1k behind invoice honestly is pretty solid. Many dealers near me won’t budge that far off of MSRP, let alone go healthily behind invoice.
Do you know what the invoice is on a 1500 laramie thats fully loaded? Also do you know of any websites that list the IDL bonus cash and whats needed to qualify?
Can’t help you there, you’ll need to just browse around local dealers websites until you find one that lists them. It shouldn’t be hard. Lots of CDJR websites do.
