If you’ve signed a RAM lease and really like your truck, can you just decide to finance it instead? You can, but there are some complications with the process. Don’t worry though, the RAM financing experts here at I.G. Burton Chrysler Dodge Jeep® RAM of Milford can walk you through it.
Financing Your RAM Lease
You can actually decide to switch your car lease over to a financing agreement during your lease term. There are some things to keep in mind before you do that though.
First, you might have to deal with a lease termination fee. You’ll also have a variety of other costs to contend with, more than you would be dealing with at the end of your lease. You may have to pay all of your remaining lease payments off right away, which can end up being a significant chunk of change.
If you really like your truck and know you’ll want to keep it, this could still be a good option. In some cases, it could even work out better financially than turning in a vehicle that has gone over its mileage limit or one that has accumulated excess wear and tear. Those extra fees at the end of a lease can really get you, but you don’t have to worry about them if you’re buying your truck.
You can also wait until your lease agreement ends. When your lease ends, you can turn in your vehicle for a new RAM truck or you can simply purchase it. The amount you’ll pay for your truck if you choose this option is often laid out in your lease contract. You can apply for a loan and finance your vehicle this way.
If you have any questions about RAM financing or leasing, just talk to our expert RAM dealers in Milford, DE. We can help you find the perfect RAM truck and the best way to take it home.