If you’re leasing a RAM, you know you’re driving a pretty great truck. However, for one reason or another, maybe you would like to end your contract and lease another model. Before doing so, remember that you have options for ending your RAM lease early.
Paying the Early Termination Fees
This alone may dissuade you from ending your lease ahead of time. Generally, these fees can be pretty high, so be sure you know what you’ll be paying before making this decision.
Buying the Vehicle
Things have changed quite a bit in the last couple of years in a number of different ways. With interest rates at an all-time low, you may discover that taking out a loan to pay for your lease is a less expensive option than continuing to lease.
Buying and Selling
If you do decide to buy, the car then becomes yours, which means you can immediately try to sell it if you’d like. Because inventories are low right now, you may find unexpected buyers, like the RAM dealership you originally leased it from!
Transferring Your Lease
If the above options won’t work or aren’t very appealing, maybe you know somebody who could take over the lease for you. There are typically some fees associated with this and your name will remain on the lease, so if your friend misses a payment, you’ll be on the hook.
Jake Sweeney Chrysler Dodge Jeep® RAM wants to help you figure out the best course of action. Whether you’ve leased your RAM with us or not, we can give you some guidance. Get in touch if you would like some more information!
