A RAM lease allows you to always drive the latest and most powerful RAM models. Let’s review the leasing payment options.
What Is a Lease Payment?
If you buy a new vehicle with a loan, then your monthly payments go towards the loan itself, including interest. However, lease payments work a little differently.
Since you're not working towards owning the vehicle outright, you only have to pay for its use. This includes covering the depreciation, or wear, that the vehicle undergoes by being driven. Because of this, monthly lease payments are usually much lower than monthly payments on a loan.
Lease payments are divided into smaller charges. In addition to your monthly payments against depreciation, you may have to make a down payment at the time of the lease, as well as an acquisition fee. Excessive wear and mileage over the mileage maximum both come with extra charges, so be mindful of them when driving.
Ending the Lease Early
If you are having trouble with the payments on your lease, you may want to consider the option of returning your vehicle early. Most leases set a termination fee that doesn't change, so it may be more than the remaining monthly payments on the lease.
Your lease may also have a buyout option, allowing you to purchase your new RAM truck. The simplest way is to find someone else to take over your lease, but only if you can find another willing lessee.
Leasing is a great way to get behind the wheel of the newest and best RAM trucks. Come down to Brunswick Auto Mart and see our selection for yourself!
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