I posted a little while back about purchasing a used Dakota, but I heard Dodge has this Lifetime Powertrain Warranty for their new vehicles. So that turned me over to considering a new Ram 1500, 4X4, 5.7 Hemi, 4Dr. I was just curious if there were anyone with the knowledge who could provide information on what I would need to do to drive from a Dodge dealer with a new Ram (described above) with a $300 (Give or take) monthly payment. How much I would have to put down, would I need EXCELLENT credit, and so on. Thank you.

 

I would first see what deals they have on those trucks, like rebates etc. I would then check my credit score to see were my credit stands. Then I would search or call dealerships and find out what the price range for those are and do the numbers online through a website like this one: http://www.bankrate.com/brm/auto-loan-calculator.asp , hope this helps.

 

Brand new, your purchase price of a 4x4 QC will be between 23k-27k depending on options. Add about another 2K for taxes.

So that is 25k-29k. On average every 10K is $200 per month, I say on avaerage because your interest rate will vary. So figure about a 15K loan for $300. Hense you need 10-14K in cash.

If miles are not an issue (under 12K year)and you are looking for new cars/trucks every 2-4 years then leasing will get you to $300 with a much smaller amount of up front $$.

 

I see, thank you guys. However, it looks as if I should keep searching for that Dakota for now. But thank you.

 

When you caculate payment's its a average of $20.00 per $1000.00 Hope that helps

 

Looks like you got some really good information here about buying the Ram. Whatever you decide to buy, do not try to work your trade or deal from the standpoint of payments. This is one of the worst mistakes you can make when negotiating with dealers. Since you know what you can afford to pay per month, you need to determine what the total is that you can finance to stay within those payments and work the deal toward that total price.

Once they know what you can pay per month, you lose a lot of negotiating leverage. They can fit those payments into a deal that will be a Rip-off in the long run. You must have a good credit score to land the really good deals, otherwise you are going to pay a premium for a bad one, that's just an unfortunate fact of life. If you don't think you know how to go about negotiating with these stealerships, do a search online for a tutorial site, you can lose thousands otherwise.

 

couple examples as to what $300 a month will get you:
72-month loan @ 6% - $18,101.86
75-month loan @ 6% - $18,724.09
60-month loan @ 0% - $18,000.00
72-month loan @ 0% - $21,600.00
with interest rates where they are now, it's more worthwhile to take the cash-back incentives than the 0% financing.
if you can get the truck pricedat $24,000 and come up with the rest of the cash/trade ($6,000)to get it down to financing $18,000, you should be able to get that easy.

 

0% financing (Through Chrysler)is forsomeone with a perfect credit score., ie over 775ish, not many in that range require credit to buy.

 

Yeah, my pareents have perfect credit, and its cause they dont need it. the have paid everything off early, and qualify for the 0%, sometimes they pass, sometimes they take it, but pay it off in the first year...bastards.

My credit was a 700 or so when i went in, and i couldnt get 0%

But yeah. figure with 8-10k down/trade in you could easily be around there i would think