Hi all. This is my first Topic post here so hopefully this is allowed. I have been enjoying all of the input from the members here and have done more reading and browsing than any sane individual probably should.
I am looking to lease a new ram truck. I am located in Ohio and would be trading in my current truck with positive equity. I would use part of the equity to pay for the drive offs and then pocket the remaining.
Lease: 36/15
Edmunds RV/MF:
Laramie - 53% 0.00004
Limited - 50% 0.00095
Current incentives for lease - $3,400 customer cash.
I am going to look at 2 Rams tonight after work.
2021 Laramie
4x4 crew cab, eTorque, Laramie level 2 equipment group, night edition
MSRP of $64,510 and a dealer price of $58,765 before incentives
2020 Limited
4x4 crew cab, limited level 1, night edition
MSRP $68,335, dealer price of $61,500 before any incentives.
I am not sure if there are any other incentives they would be able to include. I have seen some lease deals on this forum with discounts of 13% to 20%. I am not sure how realistic that is, but Ideally the dealer wants to cut a great deal on the 2020 to move it off of the lot.
Any tips, advice, or target discounts I should know before going in tonight would be greatly appreciated.
I will report back with numbers and deals once I get them.
The initial responses you will get is have you looked in the marketplace to see what others are getting off, percentage wise, before incentives on similar vehicles?
You will also hear to keep your trade separate from the deal (have them write you a check for the equity).
Good start by getting the MF/RV from Edmunds, but going to a dealer should just be for test drives and appraising your car at this point.
Once you find a vehicle you like, start emailing dealers as local might not play ball as much compared to increasing your radius to get some pricing ideas or if you have a target price, to make your offer.
I used the search function and found about 5 or 6 posts of people leasing either a Laramie or Limited within the last 6 months. The percentage off was in the range of 13% to 20%. I saw a lot of people getting 10% off pre incentive price and then getting another $6500+ on top of that. Currently I dont think the incentives are that high. My hope is that I can use the $3400 customer cash and tag on at least another $2,000 to that.
I planned to have them write me a check for the equity. I would have the equity cover the drive off amount and then have them write a check for the remaining. Unless this muddies the waters then I could just pay out of pocket for drive off and have them write the check for the full amount.
I have been using cars.com to browse inventory within 200 miles and there isnt much that matches the above specs. Maybe 20 - 30 trucks but the prices are all very similar.
On a positive, I am in no hurry so waiting until fall when new models come out and incentives are higher is always an option.
This was one of the first ones I saw and had a build exactly like what I was looking for. He is at 10k miles per year. So im not sure how much higher I would be at 15k. The $7900 in incentives in crazy. His RV was higher than I was told on edmunds (53% vs 60%) as was his money factor ( 0.00004 vs 0.0015.)
I plugged all of his info into the calculator and couldnt get the same monthly. The drive off was similar but the monthly was $469 so his sales tax may have been higher?
He said he leased through a CU, so all of the CCAP numbers you got from Edmunds are not comparable. You’d have to find out which dealers in your region use that CU.
I’m assuming we are in the same region, just ask your dealer if they use Bethpage. I got a dealer to $5900 in incentives and 9% off a $63k msrp with out trying. Pretty much the same deal less $2000 in incentives as the other truck posted in the Ohio thread. I was seeing the same incentives as you.
Im still missing some numbers. Ram has a $3,400 customer cash for lease and there is this $3,000 IDL cash for a laramie.
I know they have a bunch of other rebates you have to qualify for, but where would he arrive at $7,900?
Thanks for helping, this whole world of due diligence and squeezing every penny out of offers is new since ive always bought from the same chevy dealer who is a family friend. I feel bad but Ram is way ahead of chevy currently which is why im looking into them.
FCA incentives change frequently and are highly regional, you’d have to ask @Tommycin for the breakdown. Usually there is also a conquest or loyalty lease rebate so you could be missing that. Maybe they had some bizarre Valentine’s Day cash who knows
I just wanted to pop in and say that getting more than 8-9% on most RAM’s and you’re blowing past all invoice and holdback that a dealer has. I’ve seen people score higher incentives, but I’d guess they were on units a dealer HAD to move for one reason or another
@IAC_Scott Thank you for responding. Please correct me if Im misunderstanding.
The dealer near me has a Laramie listed at $67,055 MSRP. The dealer price is $61,108. That is before any Chrysler incentives. This is a 8.9% discount which lines up. Now there are Chrysler offered discounts that I should still qualify for that would be on top of the dealer price and wouldnt blow past the dealer invoice and hold back since they are offered through Chrysler?
IDL bonus cash $3000
Chrysler capital bonus cash $500
lease bonus cash $2900
National retail customer cash $1500
If I do qualify for all of these, would it be a fair ask to say $61,108 dealer price - incentives of $7900 = $53,208?
Not trying to be rude, just dumb when it comes to this process.
I used the deal in one of the first posts above to arrive at my conclusions. Using the calculator it appears he was able to take the dealer price plus incentives.
What incentives you can use depends on what bank the dealer is using, IDL cash is for non-captive (not chrysler capitol) banks. You can’t use those with CCAP just like you can’t use CCAP Bonus Cash with a non-captive. Generally, it’s going to be up to your dealer, given the discount they gave you, to then run the deal thru the different banks they use to see which works best.
