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2013 and earlier Cadillac CTS Lease Questions

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  • rbirns1rbirns1 Posts: 219
    GM announced they will resume offering leases on CTS and SRX through an affiliation with U.S. Bank. Anyone have any details on these lease offers?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings rbirns1. What you read is correct, General Motors did finally reintroduce leasing on a select number of models. It actually is running two different special lease programs this month, one through its traditional captive finance company GMAC in most regions and one through US Bank in a select number of states.

    GMAC's current base lease rate for a 36 to 39 month lease of a 2009 Cadillac CTS is a very attractive 0.40%. Its special lease rate through US Bank is slightly higher at 0.96%. If you tell me what state you are in, I will gladly tell you which program is available in your area.

    When negotiating your lease on the CTS that you are interested in, make sure to take advantage of the $3,000 lease cash that is available on deals through GMAC ($2,750 on US Bank leases).

    Car_man
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  • smithsongasmithsonga Posts: 123
    I have interest in this. I am in GA.

    What is the MF and residual in GA? and available lease cash?

    thx
  • borisgborisg Posts: 1
    This sounds like a great offer with the $3K offering.

    I am in MA, what are new August lease quotes and other incentives?
  • rbirns1rbirns1 Posts: 219
    I'm in NY. What about residuals? Critical for figuring out the bottom line. Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi smithsonga. The GMAC lease program is available in Georgia. This program features a special lease rate of 0.4% for 36 or 39 months. This is a lease rate, not a money factor. To convert it to a money factor you just have to divide it by 2400. So, its equivalent to a money factor of around 0.00016.

    On top of this special interest rate of practically zero percent, General Motors is providing a $3,000 cash incentive on leases of this car through GMAC.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rbirns1. The US Bank lease program, 0.96% lease rate and $2,750 lease cash, is available in New York. I have not seen US Bank's residual values for this car. I'll have to make some calls and see what I can find out.

    Car_man
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  • smithsongasmithsonga Posts: 123
    Thanks CarMan. But what are the GMAC 36 and 39 month residuals?? and is this for any trim level (basically the engines). Not including the CTS-V
  • claweaveclaweave Posts: 25
    I just read there is $6000 lease cash available...
  • claweaveclaweave Posts: 25
    So in Indiana is it GMAC? What are the lease residual %'s for 36/15 lease? I just read and confirmed via cadillac's online ask an expert that there is $6000 lease cash available. can this be combined with GMAC? also, I am able to buy at supplier pricing. can I use all these specials with it as well?
  • smithsongasmithsonga Posts: 123
    $6000 is incredible. where did u read that?

    You can typically use supplier pricing with any incentive. I get employee pricing...but my current BMW lease isnt up until Dec. but $6000 lease cash and employee pricing would be an incredibly low lease price.. :shades:
  • claweaveclaweave Posts: 25
    I found the $6K on edmunds.com under incentives. Let me warn you though, I believe that GMAC is saying the residual is 41% basically killing the deal....
  • What are the Lease terms/rates for Delaware + PA?

    I received an ad for $3,000 current leasee $.
    Could the $6,000 someone posted be that $3k + a $3k Rebate?

    What is the residual for 10K, 12K, 15K in DE + PA?

    Thanks!
  • Car man,

    I am in FL and would appreciate the numbers for a CTS lease, 36 mths, 10k or 12k miles. If the 39 mth lease is a better value based on low mileage needs I would be interested to hear your opinion. I have not bought a US make in a long time and I am not looking forward to the endless packages and options menu but suffice it to say a "nicely equipped" car. Coming out of a BMW. Lastly, is there any info on the new CTS crossover styled vehicle.

    Your help has been invaluable in the past and I appreciate the service you offer. Thanks.
  • I saw lease figures on a 2009 CTS in PA. The down payment + lease payment is much closer (about $50 a month) to a purchase. They also want a security deposit now. I don't know the lease details that Carman can provide.
    It looks like any lease savings now is not enough to outweight the constraints of leasing.

    A 39 month lease (instead of 36 month) creates a $15-20 lower payment, but then you have 3 more payments and you are shopping for a car in a different time period the next time. If you like shopping in Sept for example, to have a pick of left overs and new model year, you will want a 36 month lease, if you lease.

    CTS has lots of options, but most of them are in packages, so you may have to accept some options you don't care for to get options you want. It looks like they are trying to make it simpler for 2010, by having a base car, a luxury version and a performace version. Coming from BMW, you will want the FE2 18" wheel option or maybe even FE3, living in FL.
  • Good question, smithsonga. The GMAC residual values are tough to find, but I managed to dig them up. GMAC's August residual value for a 36 month lease of a base 2009 Cadillac CTS was a horrifying 36%. This car's lease rates are indeed available for any trim level outside of the V, but its residuals vary by term.

    Car_man
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  • Hi claweave. General Motors was providing a $6,000 cash incentive on leases of the 2009 Cadillac CTS through independent banks last month. This cash is not compatible with the GMAC or US Bank lease programs that have been talked about here.

    Car_man
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  • Hey claweave. As I mentioned in my previous post, the six grand is not compatible with GMAC's special lease program. GMAC's current base lease rate and residual value for a 36 month lease of a base 2009 Cadillac CTS with 15,000 miles per year are an extremely attractive 0.40% and an extremely unattractive 36%.

    You should be able to lease through GMAC and take advantage of supplier pricing.

    Car_man
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  • Hi artmbgolf. The GMAC lease program that has been discussed here is available in both Delaware and Pennsylvania. The $6,000 cash incentive is for leases through independent banks and as a result it is not available on GMAC leases.

    GMAC's current base lease rate and residual value for a 36 month lease of a base 2009 Cadillac CTS with 15,000 miles per year are an attractive 0.40% and an unattractive 36%, respectively.

    Car_man
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  • rbirns1rbirns1 Posts: 219
    So what are some bottom line numbers? Considering the great lease rate and awful residual value, combined with cash incentives etc., what payments are currently being offered?
  • rbirns1rbirns1 Posts: 219
    I know it's the wrong forum, car man, but what lease numbers are being offered on the new SRX?
  • You can rough ballpark a lease.
    $50,000 X .36 residual (15k miles) = $18,000

    If you pay $42,000 - $18,000 = $22,000 owed.
    Add about $2,000 interest = $24,000 owed
    $24k / 36 = $666
    With $3600 down, payment goes to $566, but no real savings.

    The residual on this used to be about 52% in 2007, higher for 10 + 12k miles.

    Ask your dealer to see the residuals page. Then you can decide the number of payments. They don't negoiate the residuals. GMAC sets them. They should not be a secret any more than the MSRP.
  • rbirns1rbirns1 Posts: 219
    Never put money down on a lease. Besides, with interest rate under 1%, who would you even want to?
  • billmvbillmv Posts: 145
    Car_Man.....you're right. 36% IS horrifying. Yet I recently read that the CTS won Kelly Blue Book's award for Best Resale Value in its category (Full size car) for 2009. Something isn't computing here.

    http://mediaroom.kbb.com/kelley-blue-book-announces-winners-2009-best-resale-val- ue-awards

    And you wonder why GM is in trouble.......
  • I went to the dealership and found a 2009 CTS MSRP for $43,535. Because my dad was a GM employee I get the GMS price of $39000. The car has 2110 miles on it(a demo). They want me to pay the sales tax upfront(8%) w/ first month payment and fees which is around $3650. They are giving a $3400 rebate but the money factor is 0.725 and the residual is 38%. He got the payment to $485 for 39 months if I put the $3600 down but I want to use the $3400 as my down payment and want a better price on the car since it was a demo.
    Can you tell me what kind of a deal I should be working towards and the money factor seemed very high and the residual not very good. I have not leased before and am very confused as to all the numbers, HELP!
  • Hi rbirns1. The bottom line lease payment of the CTS that you are interested in will depend upon what its MSRP and selling price are. These numbers can vary widely from model to model, depending upon how they are equipped. Let me know what these numbers are and I'll gladly use GM's current lease program to work up a sample payment on the exact car that you're interested in.

    Car_man
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  • Hey rbirns1. I'll head on over the SRX forum and answer this question there.

    Car_man
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  • That's odd. I wonder what the category was, best residual value for a luxury sedan from a bankrupt automaker :sick: .

    Car_man
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  • Hi njitalianangel. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Given the fact that you are already getting this car at the GMS price and the dealer us using GMAC's base lease rate to calculate its payment, you don't have a lot of additional room to negotiate. The only flexible part is how much of an additional dealer discount you are given for the demo miles that this car has. I personally would want a substantial additional discount to go with a demo vehicle over a similar brand new model.

    Car_man
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  • Paying the sales tax doesn't change anything. If they can roll it into your lease, it increases your payment and you pay interest on it.

    Your money factor sounds like it might not be a GMAC lease, per CarMan's post. Yes you should get the rebate taken off your $39000 price. The residual is based on annual mileage and set by GMAC or the bank.

    Putting $ down (rebate or cash) lowers your lease payment, but it doesn't save you $ overall. However, putting the $ down is better than if you spend it on other stuff, unless you need it now for other stuff.

    Dealers hope to sell a demo for at worst invoice. There isn't a set amount to take off for it being a demo, but there should be something off. Make sure you get a statement showing the in service mileage of 2110.

    . The car has 2110 miles on it(a demo). residual is 38%. He got the payment to $485 for 39 months if I put the $3600 down but I want to use the $3400 as my down payment and want a better price on the car since it was a demo.

    Carman posted 36%. Is your 38% for 12k?
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