Just wanted to give everyone a heads up on a CFO lease through Chrysler. (This is in Canada but it is a business lease)

I am trading in my 02 Ram for an 06 Ram and what a F***in headache.

I signed a lease back in 02 and the dealer told me that this CFO lease was the best thing for me, so I put my faith in him, the deal was that at the end of the lease that I had to guarentee the risidual buy back price of $18,000. If the truck was not worth that price then I would have to pay the difference. I was told that if I went with this lease it was better for me because that I put high milage on my truck adn that I would pay less this way then if I had to pay for milage overages. He told me that at worse case scenario that the truck would be worth $16,000 and I would have to pay $2000 vs my milage that would have been approx $7500. Sounded about right to me until I went to the dealership this past week and he told me that at best my truck was worth $10,000 but more like $9000, now my truck is in immaculate condition, the only downfall was the high milage, I had to do a lot of shopping and I eventually went to a friend who works for a dealership but is quite a ways away from me. He gave me the best deal and offered me about $14,500 for the truck but I am still stuck paying for the remain $4000.

So thanks to the new dealership that has taken proper care of me now but I just wanted to warn all of you of the pit falls of trusting your local dealership!

Drew

 

What, You signed a agreement based on some one else's opion of what your truck would be worth four years down the Road?

Crazy, employee pricing, high price of gas has killed the Resale value, and high KM's scare the dealers, Buy out the 02 now and wait a while a while before getting caught up in a 48 month rent cycle, Your dealer is going to push for at least 20 Grand for the 02, they will not get it, but add what your paying to give a truck back, and they bent you over good..

I leased threw Ford credit on a 02 and bought a 04 F-150, I had a good 97 F-150 and wanted a new truck, I bought out the lease early on the 02 because it was garbage, gave Ford a chance with a 04, that I bought, while the 04 F-150 was worse than the 02, once again I paid out the Ford and tradded to a 06 Ram 2500..

My point is your never going to come out ahead if you give up on a paid for, Dependable truck, leasing is throwing away money, I'm self employed I put a lot of KM on my truck, I have never come out a head leasing and than paying back the mileage to Ford credit, , If you own your truck, each year you can write a % of for depreacation and any pay back for my mileage can go back into my truck.

I would go to a new chrysler-dodge dealer, I too have been burned in the past..

I bought my 06 2500 Ram andt and a bunch of mexican aito workers a big round of beer, I hope they don't drink it before they build any more trucks.....I hope they never drank any beer while building my truck !!!

where in Canad are you located?

 

Thanks for the reply! Glad to know I am not the only one getting pouched!

I am in the GTA, about 30mins west of Toronto. Where are you located?

 

Calgary ...