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2013 and earlier Cadillac CTS Lease Questions

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  • Its 15k a year(miles)
  • jazz32jazz32 Posts: 4
    Can anyone tell me whether the GMAC base lease rate is regionalized. I have read on numerous posts that the base rate is 6.1, but all dealers in NE Ohio is quoting 7.1. Is there other factors that dictate what base rate dealers are allowed to use. I tried to get this info from Cadilac (see below) but they gave me an answer that leads me to believe that dealers can use whatever rate they deem appropriate for the market.

    Thank you for contacting Cadillac and for your interest in the 2008 CTS! We appreciate the time you have taken to write us.

    Lease incentives and resulting monthly payment amounts take many things into account which are not properly explainable over via email or over the phone. The MSRP of the vehicle, length of lease, capitalized cost reduction, residual value, interest rate, credit rating, and local market conditions will all effect your monthly lease payment. Due to the complicated nature of lease incentives, your preferred Cadillac dealer is in the best position to discuss this information with you.

    So do the way that the car is equipped dictate the lease rate? I was actually ready to purchase a vehicle until I saw the lease rate which I thought was extremely high.

    Thanks for your feedback
  • I have been looking as well. Talked to a few dealers and been sitting on this for about 4 weeks. The cheapest rate is 6.1% set by GMAC. You have to use this is going for GMS pricing. If not, some banks may have cheaper rates.

    If you do not know any better, and they sell you are 7.1%, I do believe the dealer makes extra money. This even goes for buys. If they say you "qualify" for a certain rate, say 6.9%, there is usually some wiggle room because if they sell it higher they make more. I have seen about a 1-2% markup in rates for this.

    You should ask them to see there dealer sheet which shows you this, it is NOT a secret. Today there should be coming out with the next (this) months rates...
  • jazz32jazz32 Posts: 4
    Thanks for the info, I do have GMS and I would be more than happy with the 6.1 rate but I refuse to accept any deal at 7.1. I believe the popularity of the car has got some dealers a little exuberant and of the belief whatever they throw out people will accept. As much as I like the car, I don't like it enough to pay more than I thank is fair. What I explained to one dealer is that with such a high rate they put themselves pretty close to MB which I currently drive and who's being pretty aggressive with their negotiations.
  • saturn9saturn9 Posts: 2
    Date 3-3-08 - I have two questions - The first regards the residual percentage on a 2008 Cadillac CTS lease. Is this percentage the same throughout the United States or at least regionally? I am dealing with two dealerships that are about 20 miles apart and one is using 58% and the other 59%. (I realize this changes, but believe it should be the same at both dealers?) Secondly, I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58%). Do these numbers make sense?

    CLL
  • saturn9saturn9 Posts: 2
    Date 3-408 - I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58% and APR 7.10. Do these numbers make sense?

    CLL
  • tmasjrtmasjr Posts: 30
    I have a supplier price on a '08 CTS MSRP 42430 for 39370, but they are telling me the same 7.1 buy rate B.S. with about $1700 down. This sounds like a lot of money for a supplier pricing customer.

    Do I just tell them get it down to 6.1 or I don't want it? I ordered it because they dont have any equipped how I want, but don't want it badly enough to over pay. Not worth it. I've seen factors as low as 5.7 on here.

    How much affect does this have on the monthly lease payment at 39 MONTHS at 10k miles?

    Help, I was hoping to make a decision today. Thanks to all. Great info!!!
  • asteinbergasteinberg Posts: 138
    Blue tooth kept me from CTS. Dealer will add for around $500 a system which, in fact, gives me a desired second screen.
    Anyway, instead of (highly discounted to invoice) Infiniti G-35 or (substantially discounted) Lexus GS350, I now lean toward CTS.
    I can wait, if necessary, to get a better price or capitalized price.
    How much above invoice can I now get a CTS for?(Do I add in ad fee?)
    Is there a discount because I'm switching from a BMW 530I?
    BUY: What is GM interest rate for financing?
    LEASE: What is GM interest rate, or MF, for leasing CTS for 12,000, 15000 miles?
    Is there decreased interest rate or MF for multiple security deposits?
    Many thanks.
  • bill164bill164 Posts: 1
    the gmac lease rate is 6.1 % / dealers can mark this up one point to 7.1 %
  • asteinbergasteinberg Posts: 138
    Thanks for the information.
    Wow--a pretty high interest rate -- compared to what I had on my BMW subsidized list. It probably means if I went for a CTS, I would buy it.
    I can't make up my mind between Infiniti G35, LexusG35, or Cadillac CTS.
    I know they are different cars.
    I can afford the most expensive, but I have other things to spend money on, and I'm looking for value. They all seem similarly and have almost the same features.
    I'm more interested in performance than luxury, but want quality.
    BMW had awful navigation system, terrible user-unfriendly satellite/radio, making it hard to switch back and forth. All 3 of these cars are better.
    I can't figure out whether Cadillac CTS and Lexus G35 are worth the extra money. They all are a little tight in the trunk space. I was pleasantly surprised at the G35's immediate response to my voice for navigation system. I have not yet really looked that closely at Lexus LS350 or Cadillac CTS. The latter is a bit ostentatious for me.
    Nor have I looked into 3 year maintenance for all 3 (BMW was free).
    My preference is leasing (based on my past Audi, Lincoln, BMS leasing subsidies), but if I really like the car and the only feasible option is purchase, then I might have to do that.
    With these lease rates, the Cadillac is only viable with a deep discount (probably not in the cards) and/or a very high residual.
  • asteinbergasteinberg Posts: 138
    Still must decide between three DIFFERENT 2008 cars -- all that I like Lexus GS350, Cadillac CTS (with blue tooth added, giving me separate screen), or Infiniti G35. Then, must decide whether to buy or lease. Incidentally, Lexus has best mileage, but Cadillac uses regular gas. I currently have BMW 530i expiring lease which, with Edmunds help, I had leased for net MF, and much less, with multiple security deposits.
    Anyway, for GS350, G35, and CTS, could you please provide:
    (1) Target deal relative to invoice+destination (and any rebate)
    (2) If buy, available finance rates
    (3) If lease, money factor or interest for 24mo, 36 mo for 12K, 15K annually
    Any better MF or interest rate for multiple security deposits?
    Thank you for this information. I'll also put on other forums, in case you guys see that first.
    Thank you!
  • nacho2nacho2 Posts: 82
    The rep from Cadillac called me and told me that my car has arrived. My question is do you thing that the lease rates will drop in April? Do you think it is worth waiting till April to contract my new car. Because if I go this Saturday-March 29th to contract the car my lease rate is 6.1%, is it worth it? Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi saturn9. General Motors' lease rate and residual value for the 2008 Cadillac CTS are the same across the country. If two dealerships that are 20 miles apart are quoting you different residual values for identical leases, then one is wrong. I can't calculate a sample lease payment on the car that you are interested in without knowing both its selling price and full MSRP, but I can tell you that if you are getting your car at dealer invoice then you are getting a very good deal. I don't know if you are a current GM owner or lessee, but if you are you are in luck because GM just introduced a $500 loyalty incentive on 2008 CTS leases.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi again saturn9. I see that you mentioned that you are being charged a lease rate of 7.1% on the Cadillac CTS that you want to lease. GMAC's current base rate for this car is only 6.1%. The dealer that you are working with may be trying to mark your car's rate up to add additional profit to your deal. Have sure that they use the 6.1% rate to calculate your monthly payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi tmasjr. If I was in the market for a CTS I absolutely would tell the dealer that I was going to walk away from the deal if they don't use the base lease rate. There are tons of GM dealers out there. You shouldn't have much trouble finding one that is willing to let you use the supplier purchase program and the 6.1% rate, especially given how slow auto sales have been lately.

    Let's see what the difference in lease payment would be between the jacked up 7.1% rate and the base 6.1% rate. According to my calculations, if you were to lease a 2008 Cadillac CTS that has an MSRP of $42,430 and a selling price of $39,370 through GMAC right now for 39 months with 10,000 miles per year using the 6.1% rate, your zero down, pre-tax monthly payment should be around $493. Using the 7.1% rate the payment for an otherwise identical lease rises to around $520. So the higher rate is costing you approximately $27 per month.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi asteinberg. Given the current depressed state of the auto industry in the U.S. right now, if I was in the market for a Cadillac CTS in an area that has a decent level of competition I personally would shoot for a selling price of around $500 over dealer invoice. GM introduced a new loyalty cash incentive on the CTS for current owners of GM vehicles this month, but I am not aware of any conquest cash offers on it right now. GM has offered this sort of incentive on the CTS in the past, so make sure to check with your dealer to find out if there is one.

    If you choose to finance your car through GMAC, you can do so at 1.9% for 3 years, 2.9% for 4 years, 3.9% for 5 years, or 4.9% for 6 years. If you decide to lease, you will have to use GMAC's base lease rate of 6.1%. I do not believe that GMAC offers a multiple security deposit program like a number of the European manufacturers do.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi asteinberg. Please see my previous post for answers to your questions. Thanks and good luck in your quest for a new car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi nacho2. GMAC's April lease program for the Cadillac CTS is exactly the same as its March program was. The only new incentive that General Motors introduced on the 2008 Cadillac CTS is an owner loyalty offer that provides $1,000 on purchases and $500 on leases of this car to current owners and lessees of GM vehicles.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man,

    Can you post current residual values for the CTS? I am interested in a 27, 26, and 39 month lease terms at 10k miles a year. I searched through past threads and could not find this information.

    Thanks!
    -Spike
  • tmasjrtmasjr Posts: 30
    If they want $1500 for first month and plates, fees, etc.

    Is this still a good deal?
This discussion has been closed.