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2013 and earlier Cadillac CTS Lease Questions

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  • Subject: Re: [Edmunds.com Forums] New message in Cadillac CTS Lease Questions

    Sorry it took me so long from the holidays and all. BTW, from
    reading this board, I do not think I got the "best" deal, however, I
    really do not understand all of it anyway.

    MSRP: 42705
    GROSS CAP. COST: 38862.82
    CAPITALIZED COST REDUCTION: $600. (initial cash payment)
    TOTAL CAPITALIZED COST: $39534.15
    ADJUSTED CAP COST/RESIDUAL VALUE: $26904.15
    This is for a 39 month lease at 10,000 miles per year.

    (Hope this is what you wanted)
  • Leslie12 -- not really. I am looking for the raw numbers that make up a lease payment, which are the residual values and I failed to mention earlier, the GMAC rate. Everyone pays a different price for their vehicle. In your case, you have a 68% residual, which is inline with what I am seeing, but I am looking for the residuals across a range of annual mileage, plus the loan rate.
  • Just wanted to share the leasing deal I got this weekend. Any comments welcome.

    36 months/$10k miles = $585/mo.

    Out-of-Pocket includes 1st month + DMV fees only (No Money Down, No Trade-In)

    CTS 3.6L DI
    Black on Black
    Premium Luxury Package
    18" All Season Tire Performance Package
    18" Polished Aluminum Wheels
    AWD Transmission
    Spare Tire
    Total Options MSRP = $13,200
    MSRP = $34,545
    Destination Charge = $745
    Total Vehicle MSRP = $48,490
    Taxes (8.25%) are capitalized into Lease
  • Sounds like the car is really loaded! Nice! If you have read my posts you will see that I am not that "informed" on what is really a good deal or not. However, I know that I have a 39 month lease, same mileage, without the AWD and 18" tires. Our sales tax is 7%. I also put down $600 down. My payment is $484. per month (including tax). You are paying $100. per month more than me, which is $3600 over the life of the lease. See What the 18" tires and AWD adds to the price and divide it over the 36 months. That will tell you if it was inline with mine, which again I don't know if it is the BEST price. Keep in mind, however, it is really hard to ever get the BEST price. (Just food for thought.) Does that make sense?!?

    Have you negotiated with any other dealer? I do know many people google "lease calculator" and plug in their numbers to see if it is a good deal. BTW, did they give you an interest rate that they were calculating your lease on? Mine was 5.75, I believe.

    I can tell you that I drove my car for about four hours this weekend and absolutely loved it! The navigation is so much more improved than my 05 CTS, and the XM radio, (which I also had in my '05) makes the ride soooo much more pleasurable. I sang all the way down the highway! (BTW, you do know that you can pause and replay a song that you are listening to if you want to don't you?! So much fun. I guess that is how I would describe the car......SO MUCH FUN!

    Good luck!
  • This is an incredible deal...in fact, it appears to be GM employee pricing of approx 12% off MSRP.

    Taking the lease calcs as I know them today at 62% residual for 10k, 3 years and 0.00238 money factor and assuming a $600 ACQ fee rolled into the lease, your vehicle price was approx $42600...almost $6000 off MSRP or 12%.

    As a note of reference, the above deal at MSRP would net a lease payment of $776.
  • I think you are assuming that all the discount comes off the MSRP when in fact the dealer has quite a bit of leeway in terms of adjusting the residual and the money factor/APR quoted by GM. There is dealer incentive built into every component of the lease, not just the vehicle price.

    I did receive a supposed $1,000 rebate/incentive under Cadillac's Conquest program for current owners of a luxury vehicle (MB, BMW, Audi, Lexus) that are converting to Cadillac owners.
  • As I said from the beginning, I know absolutely NOTHING about this. For me I just looked at the car and decided what I was willing to pay. I found another dealer that was out of my area that gave me a number that was acceptable to me and then the local dealer (where I got my car from before) was willing to do that price. What do I think I should have gotten....probably the same deal with a total payment of $470. per month. I just wanted the car at a price I was willing to pay for it and that was that......There are things that I negotiate well, cars are not one of them! I truly believe that car salesmen are the worst!
  • yes, i was assuming it was cap cost reduction by the dealer. I have never seen a dealer actually beat the residual or MF listed by the manufacturers...I typically find (and did recently when pricing a CTS at GMS pricing) they mark up these rates. They tried to mark up the interest by 1%.
  • Does anyone have the accurate numbers for December? I was quoted 7.1% for GMAC leasing and I actually cannot believe that.
  • I am so excited!! I am picking up my new CTS is just a few hours. I am getting leasing on the car. I was wondering if you think I got a good deal. I never thought I would get it since my credit score is only 620 but I guess they liked me. I got the standard CTS with an automatic transmission. I didn't get any of the cool stuff but I guess I am just lucky to have such a beautiful car. I put $4000 own and payments are $390 a month. Does this sound about right? Thanks!
  • Why would you put down so much money on a lease? You shouldnever put that much money down on a lease. If you wreck the car or it is stolen you never get that money back. If you would of put nothing down your payments would of only went up about 100 bucks. Bad Choice! Bad Deal !
  • I'm not sure if this topic was already discussed. Is it possible to combine the $1000 Luxury Conquest offer with the $2000 Pull ahead offer?
  • A bit harsh don't you think discount80? kimknight, congrats on a very sweet ride, those are beautiful cars. Dont know what kinda money factor you got or the residual, but $390 does'nt sound that bad to me.
    I always hear people say you shouldnt put money down on a lease. I think normally that is sound wisdom, but not always. It depends on yoru situation. Even if you put that $4000 down on a buy that you financed for 60 months and wrecked it you would'nt get any of your down payment back (at least not within the first few years). It would probably take 2 or 3 years to get any positive equity in the car.
  • Are there any dealer installed options (i.e., a rear spoiler) that can be residualized into a GMAC lease?

    I can't seem to get a straight answer. My dealer says no, but GMAC seems to say yes. However, they won't tell me specifically what dealer options would be considered.

    I really want to add a rear spoiler to the '08 CTS, but since I'm leasing and will return the car at the end of the lease with the spoiler, I don't want to pay the full MSRP on the dealer installed option.
  • thought everyone would like to see these:
    10K miles
    24, 73%
    30, 68
    36, 64
    39, 63

    12K miles
    24, 71
    30, 66
    36, 62
    39, 61

    I assume 15K is an additional 2% off the 12K values. I was told the current buy rate is 7.15% (not sure I believe this?? sounds high) current gmac acquisition fee is 690. I was also told the 500 marketing cash wasn't applicable to leases, is this true??
  • zeenzeen Posts: 391
    A dealer in the Philly area advertises a CTS with an MSRP of $34,290 for a lease of $339 per month before tax for 39 months with $1995 cap reduction and bank fee (presumably $600 or so). Does this sound like a bait and switch?
    I really only want the base car with auto so this seems to be on target for me.
    THanks
  • flightnurseflightnurse 35K feetPosts: 1,590
    If you want a base car then it sounds like a good deal, BUT, Im sure they only have one of them on the lot, also watch out for the mileage, I'm beating that its a 10K/yr for that car.
  • zeenzeen Posts: 391
    Thanks for the advice. It is 10k/yr but that works for me.
  • found out the buy rate is 6.10 or 6.15, one of the two.
This discussion has been closed.