April incentive changes?

[MEGA HO]

Ah, i get it now. CDN it was $103k, but USD it was around $80k. Makes sense ! lmao

What makes sense and what did you find so funny? 20% off is 20% off regardless of currency.
P.S. my reply was aimed at another Canadian whose post I quoted. He thinks he's the smartest one out there.

 

[Dunner]

My Laramie was a new 2020 so there was some deals. msrp was 96 and change. I payed 79k so I dunno almost 18%. In Saskatchewan Canada

 

[EastCoaster]

I clearly don't know what I'm talking about. Placed my order end of 2019. MSRP was $103K and negotiated price was $20K off the MSRP so about 20% off. Financed the truck and paid it off 6 months later. Alberta Canada.

So you don't think that was a substantial difference between your financing and me buying outright?
You got a little over 19% discount on a $103000 truck financing it and I got a little over 22% buying mine outright,
that 3% difference totals over $3000 (plus tax) on your $103000 truck. Plus you paid extra interest in the 6 months you made payments.
Most likely worked out to about $5000 difference overall. Personally, I would rather have that $5000 in my pocket, not the banks!

I think that trucks, in general, have become way too overpriced and have gotten out of reach for many people to purchase outright.
It forces people not bother worrying about the overall investment, just as long as they can make the monthly payments. Dealers up here
are even advertising prices at weekly payments so they can make the price appear lower.

 

[MEGA HO]

So you don't think that was a substantial difference between your financing and me buying outright?
You got a little over 19% discount on a $103000 truck financing it and I got a little over 22% buying mine outright,
that 4% difference totals over $4100 (plus tax) on your $103000 truck. Plus you paid extra interest in the 6 months you made payments.
Most likely worked out to about $6000 difference overall. Personally, I would rather have that $6000 in my pocket, not the banks!

I think that trucks, in general, have become way too overpriced and have gotten out of reach for many people to purchase outright.
It forces people not bother worrying about the overall investment, just as long as they can make the monthly payments. Dealers up here
are even advertising prices at weekly payments so they can make the price appear lower.

Even though I agreed with the 2nd part of your post, you clearly failed math in school...
You're making a lot of ASSumptions, I did put a hefty downpayment and once I took delivery, I sold my older truck (privately and surprisingly quick, it went to US) money from which went towards my truck loan. I was only paying about $250 on interest per month.
As for the truck discount, you don't think your 22% has anything to do with the incentives at the time? I know for a fact the dealer didn't even make a $1k on that sale, I've seen the dealers invoice for one of the configurations I was considering, together with Chrysler incentives at the time dealer would have been selling at a loss if they went any lower.

 

[Chrisminx]

This thread derailed quickly.

 

[EastCoaster]

Even though I agreed with the 2nd part of your post, you clearly failed math in school...
You're making a lot of ASSumptions, I did put a hefty downpayment and once I took delivery, I sold my older truck (privately and surprisingly quick, it went to US) money from which went towards my truck loan. I was only paying about $250 on interest per month.
As for the truck discount, you don't think your 22% has anything to do with the incentives at the time? I know for a fact the dealer didn't even make a $1k on that sale, I've seen the dealers invoice for one of the configurations I was considering, together with Chrysler incentives at the time dealer would have been selling at a loss if they went any lower.

Actually I am pretty impressed with my math!

$103000 less 19% = $83430
$103000 less 22% = $80340
Difference $3090
$3090 plus 5% HST = $3244.50
$3244.50 + $1500 (6 months at $250) = $4744.50

Does not matter what you made for a down payment or what you sold your other truck for. You told me you purchased a $103000 truck
and got $20000 off. So no matter what your truck was $83000. Also, you said above that you paid $250/month interest for 6 months. These are your numbers!

Now if you were here on the east coast and had to pay 15% tax, the total difference with interest would have been $5053.50.

If you believe the dealer only made $1000 on your truck you are truly gullible! The invoice is not what the dealer actually pays, they want you top believe that!
My father in law worked as a commercial banker for years an looked after many high volume dealerships. Dealers are awarded rebates and incentives off the invoice
pricing depending on sales volume. This is why you can generally get a better price on a vehicle towards the end of the month, if the dealer is short on the volume they
need they will usually sell at lower pricing to get the numbers needed. I can assure you, dealers need to make a good profit on vehicles to keep their doors open!

This will be my last reply because everybody just wants to argue about it.

 

[Bozo]

Actually I am pretty impressed with my math!

$103000 less 19% = $83430
$103000 less 22% = $80340
Difference $3090
$3090 plus 5% HST = $3244.50
$3244.50 + $1500 (6 months at $250) = $4744.50

Now if you were here on the east coast and had to pay 15% tax, the total difference with interest would have been $5053.50.

If you believe the dealer only made $1000 on your truck you are truly gullible! The invoice is not what the dealer actually pays, they want you top believe that!
My father in law worked as a commercial banker for years an looked after many high volume dealerships. Dealers are awarded rebates and incentives of the invoice
pricing depending on sales volume. This is why you can generally get a better price on a vehicle towards the end of the month, if the dealer is short on the volume they
need they will usually sell at lower pricing to get the numbers needed. I can assure you, dealers need to make a good profit on vehicles to keep their doors open!

And that last statement is the absolute truth for any business. I always chuckle when the dealers say they are losing money On a sale.

 

[WXman]

So at the risk of reopening this can of worms....

I'm looking at turning my Ram 1500 lease in early to go up to a Ram 2500/3500. Market conditions are driving used prices up to the point where I can get more for my trade right now than I paid for it 14 months ago.

Anyhow, I always lease but I've always been in 1/2 ton trucks. Rams lease pretty well at 55ish % residual at 36-48 months. Jeep pickups (Gladiator) lease probably better than anything in the nation at 70ish % residual at 48 months. This keeps monthly payments dirt cheap. What I'm running into is that Ford won't lease anything F-250 or above. They assume a F-250 will be trashed and a F-150 won't which is bull s*** but I digress... I won't touch a GM product with a ten foot pole ever again after the last two I had. So that is why I am back to shopping Ram again. Ram WILL lease 2500/3500 trucks, but the rates seem insane. What's the deal with that? Do they, like Ford, assume that a Ram 2500 will automatically be trashed when it leaves the lot? I rarely ever seen guys trashing $60,000 trucks around here. If a guy is a farmer or painter or construction worker he's driving a 10 year old truck. Very few guys get a brand new one that they know they'll tear up.

I have a huge dealer working a lease deal for me right now but I don't think they're going to be able to get anywhere close to the Ram 1500 deals. And I won't do a "buy" with a $950 payment. Ain't happenin'.

 

[LateToTheParty]

So at the risk of reopening this can of worms....

I'm looking at turning my Ram 1500 lease in early to go up to a Ram 2500/3500. Market conditions are driving used prices up to the point where I can get more for my trade right now than I paid for it 14 months ago.

Anyhow, I always lease but I've always been in 1/2 ton trucks. Rams lease pretty well at 55ish % residual at 36-48 months. Jeep pickups (Gladiator) lease probably better than anything in the nation at 70ish % residual at 48 months. This keeps monthly payments dirt cheap. What I'm running into is that Ford won't lease anything F-250 or above. They assume a F-250 will be trashed and a F-150 won't which is bull s*** but I digress... I won't touch a GM product with a ten foot pole ever again after the last two I had. So that is why I am back to shopping Ram again. Ram WILL lease 2500/3500 trucks, but the rates seem insane. What's the deal with that? Do they, like Ford, assume that a Ram 2500 will automatically be trashed when it leaves the lot? I rarely ever seen guys trashing $60,000 trucks around here. If a guy is a farmer or painter or construction worker he's driving a 10 year old truck. Very few guys get a brand new one that they know they'll tear up.

I have a huge dealer working a lease deal for me right now but I don't think they're going to be able to get anywhere close to the Ram 1500 deals. And I won't do a "buy" with a $950 payment. Ain't happenin'.

It is just my opinion, but my guess would be that most who need/want an HD truck are going to use it for towing and/or hauling and as such will be harder on it. Not that they are specifically going to trash it, but a year of towing heavily is just naturally going to be harder on a vehicle than a year of driving.