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2016 Ram 1500 at the end, should I buy it out?

magnumekmagnumek Member Posts: 53
edited September 2019 in Ram
Hello. I leased a 2016 Ram 1500 Big Horn Crew Cab and my lease is ending in a month. I negotiated a steal price at that time, I tried to match it on a new lease but couldn't even come close. I exceeded the mileage by 10k so thats around $2500 fee. I am considering a buyout of that car if its worth it.

I am paying $317/mo with 12k mileage, it is equipped with lots of extras such as bigger touch screen, premium sound system, backup camera, parking sensors, premium heated cloth seats, chrome accents, navigation, truck bed cover.

The buyout price is $25600. I tried to negotiate it but the bank did not even want to hear about it. Is it a good price?

Should I:
  • buy it out,
  • lease another vehicle
  • pay the mileage fee and return the vehicle and buy a pre-owned Ram elsewhere
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Answers

  • MichaellMichaell Moderator Posts: 240,829
    magnumek said:

    Hello. I leased a 2016 Ram 1500 Big Horn Crew Cab and my lease is ending in a month. I negotiated a steal price at that time, I tried to match it on a new lease but couldn't even come close. I exceeded the mileage by 10k so thats around $2500 fee. I am considering a buyout of that car if its worth it.

    I am paying $317/mo with 12k mileage, it is equipped with lots of extras such as bigger touch screen, premium sound system, backup camera, parking sensors, premium heated cloth seats, chrome accents, navigation, truck bed cover.

    The buyout price is $25600. I tried to negotiate it but the bank did not even want to hear about it. Is it a good price?

    Should I:

    • buy it out,
    • lease another vehicle
    • pay the mileage fee and return the vehicle and buy a pre-owned Ram elsewhere
    Same suggestion - repost here:
    https://forums.edmunds.com/discussion/1212/general/x/real-world-trade-in-values

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