Ram financing at a glance
Best for: Those who want to buy or lease a Ram
Formerly known as Dodge Ram trucks, Ram trucks became a stand-alone division in 2009 as part of Fiat Chrysler Automobiles. In 2021, FCA became part of parent company Stellantis when it merged with Peugeot. Building on its long heritage of rugged reliability, Ram offers a range of light to midweight duty vehicles including vans.
Ram trucks are financed through Chrysler Capital, which also finances the Dodge, Jeep, Fiat and Alfa Romeo brands of Stellantis. To use Chrysler Capital financing, you must buy a new or used car or lease through a participating dealer.
Ram specials may include APRs as low as 0.00%, a cash allowance, no monthly payments for 90 days or lease incentives. The details vary by model and location. For example, offers may be different for two-wheel and four-wheel drive options. Remember, the best Ram offers are reserved for well-qualified buyers, and not all buyers will qualify.
How Ram financing works
Chrysler Capital provides financing for Ram trucks as well as other brands under the Stellantis umbrella. Buyers can apply online or at an authorized dealer. Chrysler Capital financing terms range from 12 to 72 months with rates between 0.00% and 6.90%. Chrysler Capital is powered by Santander Consumer USA, the U.S. auto lending arm of the Spanish bank.
You can get prequalified using the online application to learn about the financing you may qualify for, without affecting your credit score. Chrysler Capital promises a response within 30 seconds of submitting some basic personal information.
You could use an auto loan calculator to determine how much a new Ram may cost you. You can do “what-if” calculations to see how different interest rates, loan terms and down payments impact the monthly payment to fit your budget.
Chrysler Capital considers borrowers with a FICO credit score of 640 and above as being in the prime segment. Those below 640 are considered subprime. The best Ram truck incentives typically go to borrowers in the prime category because there is less risk of them not paying off the loan.
How Ram leasing works
Leasing is another way to get to drive a new Ram, especially for those who like to move to a new truck every few years, or for anyone looking for a lower payment. Leasing tends to be less expensive on a monthly basis than a car loan but there are some drawbacks.
In addition to mileage restrictions, you may be charged a fee for exceeding those limits as well as wear-and-tear agreements. Ram has a range of mileage limits from which to choose, but typically, the higher the limits the more expensive the lease. If you like to customize your truck, check the lease agreement to see what upgrades may be allowed. Of course, if you buy the Ram, you can turn it into your dream truck.
At the end of the lease, your choices are to turn in the vehicle, buy it, or lease or buy a new Ram. Chrysler Capital offers incentive low-mileage lease rates for returning lessees.
- Lease terms: 24, 36 or 48 months
- Standard mileage limits: 10,000, 12,000, and 15,000
- Security deposit may be required.
- $395 disposition fee at lease end
The primary advantage of financing through the manufacturer is access to rebates and incentives. Your local dealership may also have special purchase or lease offers available in your area. Deals may be offered for a limited or only on specific models or trim levels.
To get these deals, you must buy a car from an authorized dealer and use the manufacturer’s financing, in this case Chrysler Capital, for Ram trucks.
Low APR: Depending on the length of the loan, 0.0%-3.08%
Bonus cash: Manufacturer incentive to reduce the MSRP. $1,250-$1,750 varies by model and location.
No payments. Delay monthly payments for 90 days.
No security deposit: Leases with zero security deposit required.
Lease loyalty: Save $500 if your current lease on a Stellantis vehicle ends within 12 months.
First responders. Firefighters, law enforcement officers and EMTs can save $500 on new Ram trucks and vans.
Military and veterans. Active, Active Reserve, Retired Military, Retired Military Reserve or honorably discharged veterans with 12 months of discharge can save $500.
Driveability. Receive up to $1,000 for adaptive modifications for a vehicle serving persons with permanent disabilities.
How to qualify for Ram financing
To qualify for Chrysler Capital financing, you’ll need the usual list of information. Be prepared with:
Personal details: Name, address, phone number, Social Security number
Employment information: Employer, length of employment, income
Loan terms: How much you want to borrow and for how long — and don’t forget to add things like taxes, title and tags as well as extended warranties or any other extras.
Vehicle: The car’s VIN or year, make and model.
You may need to provide additional information such as proof of residence or current pay stubs, which could help you score a better deal as the finance company has a higher level of confidence in your ability to pay the loan.
Remember, the best rates and deals are reserved for those with good credit scores, at least 640 to qualify for the Prime category.
Buyers can apply online or at an authorized dealer. It’s a good idea to apply before you start shopping at the dealership. Also, shop for auto loans online to see what financing may be available through other lenders. You can apply for multiple loan offers within 14 days without hurting your credit score.
Pros and cons of Ram financing
The manufacturer’s financing arm usually offers the best deals if you’re in the market for that type of vehicle. The dealer is familiar with them so the process can go quickly. But the dealer financing may not always be the best option if you’re interested in a different make or want to consider other financing options.
|Competitive incentives and offers if you’re set on a Ram truck||Must finance or lease through an authorized RAM dealer|
|Could save on down payments and interest||Credit score must be sufficient for incentives|
|Offer a range of popular financing options||You may want more flexibility in terms|
|Additional offers like vehicle protection, GAP insurance and wear-and-tear packages||Extras could be rolled into financing for higher payments|
|Leasing is easy with additional miles and turn-in options||Could get hit by mileage fees and wear-and-tear charges|
Alternatives to Chrysler Financial
It’s a good idea to get preapproved for an auto loan before you settle on a vehicle to buy. With a preapproval, you’ll know how much you’ll be able to spend on a new or used Ram truck. You can get preapproved on the Chrysler Capital site. You can apply online and receive multiple loan offers without lowering your credit score if you do it within a 14-day period.
|Lender||Chrysler Financial||Capital One||LightStream|
|APR||0.00%–6.90%||Starts at 6.49%||7.49%–16.44% (with AutoPay)|
|Terms (months)||12–72||36–72 months||24–84 months*|
Capital One: Offers new, used and refinance loan options at participating dealers. Available at thousands of dealers across the country but not at every dealer. Get prequalified without impacting your credit score. Better rates are available to those with poor credit.
LightStream: Funds go to you so you’re a cash buyer at the dealer. Must use autopay to get the lowest rates. (*Payment example: Monthly payments for a $10,000 loan at 3.99% APR with a term of 3 years would result in 36 monthly payments of $295.20.)