Dealer wants to buy out my lease?
I received a letter from the owner of the local Chrysler dealer franchise. He wants to buy out the lease on my 2013 Ram 1500 and set me up with a 2015 1500 for the same payment, nothing down. Probl...
Forum Discussion
I worked 24 years for a major manufacturer's captive finance company, and I taught salesmen and dealerships how to lease vehicles.
The benefits to dealers to lease is that many leases are at an "acquisition cost" that can be as high as MSRP. The deal with leases is to negotiate a monthly payment. That doesn't mean you cannot ask the business manager what they're being paid for the lease.
Lease payoffs are only quoted to the original dealer--not to other Ram dealers. Keeping you as a preferred lease customer is a great benefit. And your dealer gets first chance to purchase your current lease vehicle--rather than it go to auction.
If the truck they're pitching at you is as nice as the current model and you're satisfied with the payment, go for it.
Last time I financed a vehicle, I had to put a set of tires on it before termination. I just suggest you keep the vehicle less time/miles to where tires are not required. New tires for a 3/4 ton or 1 ton can run $900-$1200 easily.
The benefits to dealers to lease is that many leases are at an "acquisition cost" that can be as high as MSRP. The deal with leases is to negotiate a monthly payment. That doesn't mean you cannot ask the business manager what they're being paid for the lease.
Lease payoffs are only quoted to the original dealer--not to other Ram dealers. Keeping you as a preferred lease customer is a great benefit. And your dealer gets first chance to purchase your current lease vehicle--rather than it go to auction.
If the truck they're pitching at you is as nice as the current model and you're satisfied with the payment, go for it.
Last time I financed a vehicle, I had to put a set of tires on it before termination. I just suggest you keep the vehicle less time/miles to where tires are not required. New tires for a 3/4 ton or 1 ton can run $900-$1200 easily.
