So here are some numbers I got from a local dealer. I reside in PA so the tax rate is 9%. This is my first attempt so I haven’t even tried getting them to go lower or cut a better deal yet. I’m looking for some advice and seeing what I can do to make this a better deal. I currently lease a 2021 Silverado 1500 Duramax RST. My current pay off is $33,210.83. My lease isn’t actually up til March so I definitely have some time and I’m not exactly in a rush.
The new Ram:
MSRP: $61,690
Discount: $2,691
Selling price: $58,999
Rebates: $8,200
Trade allowance: $38,000
Trade payoff: $33,210.83
Government fee: $136.70
Processing fee: $449
Total due at signing: $1,000
I really don’t think this is a very good deal especially with $4,789 in equity on my current truck. When I bought my 2021 I only put the first month payment down, no trade in or anything and my monthly payments are $469. The monthly payments for this new truck is $501 per month. That seems absurd with essentially a total of $5,789 being handed to them.
I’m not sure on the lease price since interest rates are insanity and you’re taxes are high. That being said, you should think about goign to another dealer outside of PA possibly. The market on these are around 13500-14500 off including rebates.
Thanks. I have no issues going to NY, OH or WV if I can find a better deal. I thought if it was getting registered in PA I still had to pay the PA taxes.
I don’t know how it compares to the market (especially in your area) these days, but it’s nice to see that prices are coming down a bit from full MSRP and whatnot. I don’t think I can ever get rid of my 2020 Longhorn, which is probably still worth nearly what I paid for it, because I just won’t be able to stomach the price of entry for something new at the same standard of luxury to which I have become accustomed.
Truck values are dropping like a rock. My 23 laramie went from 60k to 45k-55k from May to Aug. I only got 58k because I traded it in for a Pooorsche that’s also dropping like a rock lol. Incentives aren’t going to be the issue I predict. You might be stuck between a rock and a hard place since while your current truck may go down, your new ram may kick the bucket as well.
I’ve only had it appraised at 3 different dealerships. One was $36,800 but weren’t willing to budge on the cost of a new truck. The other two were right at $38,000.
Discount could be better (see broker listings for RAM). Depending where you are in PA, they’ll save you quite a bit.
One thing you cannot change is interest rates have increased substantially since you last signed a lease.
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” Jerome Powell
