Questions on Monthly Payment....

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
Im finalizing the deal on my ignition Edition TRX, Was lucky to get one at sticker. around 91k Im "leasing" What I did not expect, was even with 10k down, my 4 year, LEASE payment is $1,585. Now, I understand its an expensive truck, but for comparison when I bought the Hellcat Daytona, it was about 85k, and I financed it with a monthly payment of $1338 at 72 months. Leasing was always cheaper, but this time im really questioning if im missing something and theyre trying to sneak something in on me that i cant see. Can anyone else confirm? If talking about this stuff is not allowed, I get it, im just looking for more eyes and brains on this
 

RobR651

TRX Addict
Joined
Jan 26, 2021
Messages
1,775
Reaction score
2,292
Location
Idaho
Current Ride
2015 Ram 1500
I don’t know your situation or your ability to write that lease off as a business expense. I avoid leasing vehicles because you spend money and have nothing to show for it at the end of the term. Just curious…. Why don’t you buy it?
 

darrentrx

TRX Member
Joined
Nov 10, 2021
Messages
12
Reaction score
4
Location
Sherman Oaks
Current Ride
Ram 1500
Lease adds money factor and other stuff into play, you’re better off financing it and selling if you don’t want it anymore. If you do that lease you’re paying 86k in 4 years and I doubt your payoff for car is only 5k after, just buy it and sell whenever you’ll spend less
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
I don’t know your situation or your ability to write that lease off as a business expense. I avoid leasing vehicles because you spend money and have nothing to show for it at the end of the term. Just curious…. Why don’t you buy it?
I have always leased my trucks just to keep the monthly payment down, but it seems like this time its not the case, plus another 100k vehicle to work on paying off, i dont know, maybe i should just ask for financing options and see what they say.
 

ScottSad

TRX Fanatic
Joined
Sep 28, 2021
Messages
122
Reaction score
126
Location
Sterling Heights, MI
Current Ride
2019 Ram 1500 Laramie
Current Ride #2
Jeep Grand Cherokee Limited
Military
US Army
I've been curious as to how the pricing is going to end up too. I normally lease, just because I want a new vehicle every 2-3 years and I don't want to have to worry about putting any work into any of the vehicles we use. With the TRX, I've been seriously thinking about buying it, but I'm waiting to see how pricing works out when it comes time to pick up. Lease payment is based on the projected residual value at the time the truck is returned. With that being said, this type of payment indicates that the residual is going to drop drastically. I can't understand how it might be that different. I drive a Laramie now, and it's fairly loaded. I can't recall what the sticker was, but it was fairly high. And my lease payment on it is around $600 month. It's hard to imagine a TRX being nearly $1000 a month MORE than that. But that's just my thoughts on it. Either way, I'm getting the truck, and I'll most likely buy because it won't be around long.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
I've been curious as to how the pricing is going to end up too. I normally lease, just because I want a new vehicle every 2-3 years and I don't want to have to worry about putting any work into any of the vehicles we use. With the TRX, I've been seriously thinking about buying it, but I'm waiting to see how pricing works out when it comes time to pick up. Lease payment is based on the projected residual value at the time the truck is returned. With that being said, this type of payment indicates that the residual is going to drop drastically. I can't understand how it might be that different. I drive a Laramie now, and it's fairly loaded. I can't recall what the sticker was, but it was fairly high. And my lease payment on it is around $600 month. It's hard to imagine a TRX being nearly $1000 a month MORE than that. But that's just my thoughts on it. Either way, I'm getting the truck, and I'll most likely buy because it won't be around long.
Yea, Im probably going to keep the truck for a while, I usually do 3 year leases but that was over 1600 a month, Its just hard for me to swallor it being more then my house payment... it just raises red flags in my mind that something is seriously up. I guess it wont hurt to have them look into a 72 month finance for me, my goal was to have it around 1000 and it hit me in the gut when they thru that price at me even with 10k down.
 

BourboNole

TRX Member
Joined
Apr 26, 2021
Messages
23
Reaction score
20
Location
Orlando, FL
Current Ride
Charger R/T
What is the residual and the money factor. Those, combined with price and term determine your payment. I am guessing the residual is really low. If it is, and the truck ends up being worth more than expected, you can simply buy out the remainder of your truck and sell it for the profit. If the high price is due to the money factor, then you are probably better off buying as regular loan rates are dirt cheap right now.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
What is the residual and the money factor. Those, combined with price and term determine your payment. I am guessing the residual is really low. If it is, and the truck ends up being worth more than expected, you can simply buy out the remainder of your truck and sell it for the profit. If the high price is due to the money factor, then you are probably better off buying as regular loan rates are dirt cheap right now.
Dealer has the residual at $49,000 , so pretty low. Ill see what i can get thru chase, which I have my hellcat finances through, if they can give me a good offer.
 

naamanf

TRX Member
Joined
Nov 20, 2021
Messages
15
Reaction score
31
Location
Little Rock
Current Ride
2017 Raptor
Military
US Army
Why would you put a down payment on a lease? Unless it somehow lowers the money factor it's just giving them money up front with no advantage.

Key to a good lease to high residual, low money factor, and getting the vehicle as far below MSRP as possible. Residual is a percentage of MSRP.
 

Dkg1616

TRX Fan
Joined
Nov 6, 2021
Messages
53
Reaction score
56
Location
Ohio
Current Ride
LT Trail Boss
As a licensed financial professional, you are 1,000% better off purchasing this vehicle. Even if you put zero money down. These trucks, as raptors, will lose minimal value over time - and even less so in the near term. That is unless you paid well over MSRP. If that is the case, walk away if it’s a financial burden.
 

Phillytrx

TRX Junkie
Joined
Aug 9, 2021
Messages
512
Reaction score
698
Location
Philadelphia
Current Ride
2018 trackhawk
That’s a crazy high price for a lease. They had to of made a mistake. I’m buying mine through Chapman but had my trackhawk serviced at the dealer I purchased it from. I built my trx on there computer and have them my build. I already ordered through Chapman and didn’t tell them that and was just curious what they would charge me. They hit me with a $870 a month lease for an 88k build on the truck and around 1k for purchase. I asked them what they were selling me the truck for and they said they could only do msrp. I never intended to order through them I was just curious. So you 1585 is really high for a lease.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
As a licensed financial professional, you are 1,000% better off purchasing this vehicle. Even if you put zero money down. These trucks, as raptors, will lose minimal value over time - and even less so in the near term. That is unless you paid well over MSRP. If that is the case, walk away if it’s a financial burden.
Paying MSRP, thankfully, I can afford the payment but my cheap mind is telling me I can have alot cheaper payment on it, especially a Lease
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
That’s a crazy high price for a lease. They had to of made a mistake. I’m buying mine through Chapman but had my trackhawk serviced at the dealer I purchased it from. I built my trx on there computer and have them my build. I already ordered through Chapman and didn’t tell them that and was just curious what they would charge me. They hit me with a $870 a month lease for an 88k build on the truck and around 1k for purchase. I asked them what they were selling me the truck for and they said they could only do msrp. I never intended to order through them I was just curious. So you 1585 is really high for a lease.
Thank you for this! The truck comes to about 91k with my down payment after all tags and taxes , so thats what ill be leasing on, so only a few grand over what you got quoted for on 800$ a month
 

RobR651

TRX Addict
Joined
Jan 26, 2021
Messages
1,775
Reaction score
2,292
Location
Idaho
Current Ride
2015 Ram 1500
Yea, Im probably going to keep the truck for a while, I usually do 3 year leases but that was over 1600 a month, Its just hard for me to swallor it being more then my house payment... it just raises red flags in my mind that something is seriously up. I guess it wont hurt to have them look into a 72 month finance for me, my goal was to have it around 1000 and it hit me in the gut when they thru that price at me even with 10k down.
Why don’t you have an independent bank or credit union separate from the dealer look into the numbers for you? The dealer isn’t looking for the best rate for you. Not trying to be an ass, but $10k down on a $100k vehicle isn’t much of a down payment. You probably want to come up with $25k - $30k or more to make that a more palatable monthly payment. Like I said before, I don’t know your financial situation. Whatever works best for you and your family.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
Why don’t you have an independent bank or credit union separate from the dealer look into the numbers for you? The dealer isn’t looking for the best rate for you. Not trying to be an ass, but $10k down on a $100k vehicle isn’t much of a down payment. You probably want to come up with $25k - $30k or more to make that a more palatable monthly payment. Like I said before, I don’t know your financial situation. Whatever works best for you and your family.
Already looking into it. The DP is from what im getting for my current truck, selling it to a family member, paying off the lon and using the difference as DP, i only put 7k down on my hellcat and that was about 90k. It did make some difference
 

BourboNole

TRX Member
Joined
Apr 26, 2021
Messages
23
Reaction score
20
Location
Orlando, FL
Current Ride
Charger R/T
Why don’t you have an independent bank or credit union separate from the dealer look into the numbers for you? The dealer isn’t looking for the best rate for you. Not trying to be an ass, but $10k down on a $100k vehicle isn’t much of a down payment. You probably want to come up with $25k - $30k or more to make that a more palatable monthly payment. Like I said before, I don’t know your financial situation. Whatever works best for you and your family.
Unless I need to put more down for a better rate, I will put as little down as possible. Money is so damn cheap right now, and with sky high inflation, those payments will get relatively cheaper with time.
 

RobR651

TRX Addict
Joined
Jan 26, 2021
Messages
1,775
Reaction score
2,292
Location
Idaho
Current Ride
2015 Ram 1500
Unless I need to put more down for a better rate, I will put as little down as possible. Money is so damn cheap right now, and with sky high inflation, those payments will get relatively cheaper with time.
Sounds like he’s concerned about his monthly payment, so that’ll require either more money down or a loan that takes him way out.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
Sounds like he’s concerned about his monthly payment, so that’ll require either more money down or a loan that takes him way out.
My main concern was how much the lease payment was, it just diddnt make sence to me, so I wanted opinions. Seems like financing is the way to go with inflation and borrowing rates, so ill shop around
 

BlueTRX

TRX Fanatic
Joined
Aug 6, 2021
Messages
195
Reaction score
289
Location
Long Island- NY
Current Ride
2021 Hydro Blue Ram TRX
I always lease my vehicles. I do equipment financing and also faced the same scenario with the TRX. Leasing mine would be around the same as financing it for similar term which I thought was crazy.

At the time I sat down with the salesman and got the numbers I started laughing because it made no sense. I told him to call his financing manager so we could speak directly being the salesman was not following along what I was asking him to ask the financing manager.
Finally I was able to sit down with the financing manager and realize the money factor for LEASE was MUCH higher for the TRX. My credit score is above 800 with very little debt so I knew this was not impacting my rates but instead telling me Ram does NOT WANT to lease that truck.

When a lease is done a portion of that vehicle(asset) sits with the bank/builder/factory(or whoever sells them directly to the dealers). That portion(residual) is an expected market value banks can expect it to be worth when you return it, sell it. The TRX is an uncommon, series truck with higher risk for leases. Yes as above pointed, the TRX value is holding absurdly high due to outside, uncommon factors. What I conclude is RAM and any other builders producing out of ordinary trucks/cars know people buying these vehicles dont necessarily drive slow or are shy to put the engine to the limit which in turn discourages leases.
 
OP
Redneck

Redneck

TRX Fan
Joined
Nov 13, 2021
Messages
66
Reaction score
36
Location
Pennsylvania
Current Ride
2019 RAM 1500 Rebel, 2022 TRX Ignition Edition on Order
Current Ride #2
2020 Dodge Charger Hellcat Widebody Daytona Edition
I always lease my vehicles. I do equipment financing and also faced the same scenario with the TRX. Leasing mine would be around the same as financing it for similar term which I thought was crazy.

At the time I sat down with the salesman and got the numbers I started laughing because it made no sense. I told him to call his financing manager so we could speak directly being the salesman was not following along what I was asking him to ask the financing manager.
Finally I was able to sit down with the financing manager and realize the money factor for LEASE was MUCH higher for the TRX. My credit score is above 800 with very little debt so I knew this was not impacting my rates but instead telling me Ram does NOT WANT to lease that truck.

When a lease is done a portion of that vehicle(asset) sits with the bank/builder/factory(or whoever sells them directly to the dealers). That portion(residual) is an expected market value banks can expect it to be worth when you return it, sell it. The TRX is an uncommon, series truck with higher risk for leases. Yes as above pointed, the TRX value is holding absurdly high due to outside, uncommon factors. What I conclude is RAM and any other builders producing out of ordinary trucks/cars know people buying these vehicles dont necessarily drive slow or are shy to put the engine to the limit which in turn discourages leases.
Thank you for this! I leased my rebel for 400$ a month, I expected this to be around 900-1000$, so that surprised me, and made me wonder if its just better to finance given the rates, and market. I guess you ended up Financing instead?
 
RAM TRX Forum Supporting Member Badge

RAM-TRX Vendors

justboltons.com BwoodyPerformance.com Sam Leman Chrysler Jeep Dodge Ram Morton
Top