When it comes to getting behind the wheel of a RAM truck, two options stand out: leasing or buying. Each route comes with distinct advantages and financial considerations, making it important to evaluate which choice fits your budget and lifestyle best. In this guide, we’ll break down the financial pros and cons of leasing versus buying a RAM, helping you make a more informed decision.
Leasing a RAM often results in significantly lower monthly payments compared to buying. This is because you’re only paying for the vehicle’s depreciation over the term of the lease, not the entire value of the truck.
Leasing allows you to drive the latest RAM models without committing to long-term ownership. With a lease, you can upgrade to a new truck every few years, enjoying the latest technology and features.
One of the perks of leasing is that the truck is usually covered under warranty throughout the lease period. This can save you money on maintenance and repairs, giving you peace of mind when it comes to unexpected issues.
Leasing comes with mileage limits, typically ranging from 10,000 to 15,000 miles per year. If you exceed these limits, you’ll face extra charges. For high-mileage drivers, this could be a downside.
At the end of a lease, you’ll have to return the truck or opt for a new lease or purchase. There’s no opportunity to build equity, meaning you won’t own the vehicle outright after making payments.
When you buy a RAM, each payment contributes to your ownership of the truck. Once the loan is paid off, the vehicle is entirely yours, offering long-term value and the potential for resale.
Owning your RAM means you can drive as much as you want without worrying about mileage restrictions. This is a major benefit for drivers who plan to take long trips or use their vehicle extensively for work or leisure.
While buying a RAM usually means higher monthly payments compared to leasing, these payments are an investment in ownership. Over time, you’ll build equity, and eventually, you’ll no longer have a truck payment at all.
Ownership gives you the freedom to modify or customize your RAM however you like. Whether it’s adding performance upgrades, new wheels, or aesthetic changes, owning your truck gives you total control over personalization.
Once the manufacturer’s warranty expires, you’ll be responsible for the cost of repairs and maintenance. While this can be a significant expense, regular maintenance can extend the life of your truck and maintain its resale value.
| Aspect | Leasing a RAM | Buying a RAM |
|---|---|---|
| Monthly Payments | Lower payments | Higher payments |
| Ownership | No ownership, must return at lease end | Full ownership after loan repayment |
| Mileage Restrictions | Typically limited to 10,000-15,000 miles per year | Unlimited mileage |
| Upfront Costs | Lower down payment and fees | Higher down payment, taxes, and fees |
| Long-term Costs | Continuous payments with new leases | Payments end once loan is paid |
| Warranty Coverage | Covered under warranty during the lease term | Warranty expires, owner covers maintenance |
| Vehicle Customization | Limited, as modifications are usually not allowed | Full freedom to customize and upgrade |
| Depreciation | Depreciation is the lessor’s concern | Owner takes on depreciation costs |
If you prefer lower monthly payments, the ability to drive a new RAM every few years, and don’t drive excessive miles, leasing could be the right option for you. It provides flexibility with fewer financial responsibilities up front.
On the other hand, if you drive long distances, want to customize your truck, and plan to own it for the long term, buying might be the better financial decision. While the upfront and monthly costs are higher, you’ll eventually own the vehicle outright and won’t have to worry about mileage limits or returning it.
Leasing vs. buying a RAM truck depends on your personal driving habits, financial situation, and long-term plans. Carefully consider both options before making a decision. Whether you choose to lease or buy, each has its unique benefits to suit different lifestyles and financial goals.
While great effort is made to ensure the accuracy of the information on this site, errors can occur. Please verify all pricing and installed equipment information with a customer service representative. This is easily done by calling us or visiting us at the dealership.
Customer may not qualify for ALL Rebates shown. Some rebates are stackable and others can and cannot be combined. See Dealer For Complete Details.
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