Is leasing a Ram truck a good idea?
If you're ready to get into a new Ram truck for sale, but don't want to finance the truck, is leasing a good option? At Ewald Auto, the leading Ram dealer in Waukesha, many customers ask if leasing a truck is a wise decision. There are so many differences between leasing a truck and buying a truck, after all. Let's discover whether a truck lease deal is a good fit for your lifestyle!
What's the difference between leasing and financing a truck?
Financing a Ram truck for sale near you is pretty simple to understand. You borrow money from a lender to pay for your Ram truck for sale, making monthly payments until the loan principal and interest are paid off.
On the other hand, leasing involves making a monthly payment to drive the truck for a predetermined period of time. You'll be expected to return your leased truck to our Ram dealer in Waukesha at the end of your lease term.
What are the advantages of leasing a pickup truck?
- Lease payments are usually less expensive than auto loan payments. Your Ram 1500 lease payment will be more affordable than financing the same truck.
- Leased trucks remain under manufacturer warranty. If you hate the idea of driving a truck without a warranty, leasing offers peace of mind.
- At the end of your lease, you won't need to worry about placing your Ram 1500 for sale. Simply return your leased truck to Ewald Auto, and you'll be free to find a brand new ride!
What are the cons of leasing a truck?
- At the end of your truck lease, you won't own the vehicle.
- Your lease payments don't build equity in the truck.
- Because truck lease deals limit the miles you can drive annually, leasing isn't a great option for people who drive great distances.
- You must return your Ram 1500 lease in the same condition that you received it. If you'd like to modify your truck, you're better off buying a Ram 1500 for sale.
What credit score do you need to lease a Ram truck?
For the best chance of securing a lease deal with favorable terms, your credit score should be at least 700. Our Ram dealer in Waukesha is happy to work with all customers to help you get into the right vehicle. But if your credit is subprime, it's helpful to take some time to improve your score before buying or leasing a Ram truck for sale.
Do leases show up on credit reports?
Yes, your lender will report your monthly lease payments to the credit agencies. Your lease payments will appear on your credit history report as an installment account. Timely lease payments can be a great way to bolster or improve your credit score!
When you're ready to get serious about your next truck, there's only one Ram dealer in Waukesha you'll want to work with. Ewald Auto offers a huge selection of Ram trucks for sale and lease. Stop by today to check out our latest truck lease specials!
