Is leasing a truck cheaper than buying?

Is it cheaper to buy or lease a new truck? If you're thinking about getting into a Ram truck lease, this is an important question. Ewald Auto helps Milwaukee customers buy or lease Ram trucks through GM Financial. Let's explore if a Ram lease deal will be less expensive than buying the truck!

Should I lease a pickup truck?

Before we jump into the financial aspect, let's make sure that a Ram truck lease is right for you. Leasing a truck from our Ram dealership near you can be an excellent decision for certain customers. But not every customer will be well-suited to leasing.

• Lease agreements include a mileage limit. If you exceed the mileage amount, you will need to pay per extra mile. Customers who drive more than 1,000 miles per month will likely wish to finance their truck through GM Financial instead. 

• Leased trucks need to be returned at the end of the term in their original agreement. If you're shopping for a work truck, or if you plan to modify your truck, a Ram 1500 lease might not be worth it.

• Lease payments don't build equity. At the end of your lease term, you won't own the vehicle. If you want to build equity in your Ram, financing will be the best choice.

Is a lease cheaper than buying?

With new trucks in short supply and high demand, is it less expensive to lease or buy?

• Monthly payments on a Ram truck lease will be cheaper than financing the same truck. Per Edmunds.com, the average cost of a monthly lease payment is nearly $200 cheaper than the average monthly auto loan payment. 

• All trucks will depreciate over time. When you lease from our Ram dealership near you, you won't lose money to depreciation. You can enjoy driving a brand new Ram 1500 lease during the first years of its life without taking a depreciation hit.

• Your down payment won't need to be as large if you lease a Ram. When you apply for your GM Financial lease, placing a larger down payment can lower your monthly lease cost. Think of it as a fee to enjoy lower monthly lease payments. Since you aren't building equity, if the monthly price reduction isn't worth the large down payment, you can forgo putting down a huge amount.

• The Ram lease deals at Ewald Auto can make leasing a truck even more affordable. Ask the sales team at our truck dealership near you about our current Ram lease specials!

If you have any more questions about Ram leases, Ewald Auto is ready to help. Stop by our Ram dealer today to learn more about the benefits of leasing your truck with GM Financial!