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2013 and earlier Cadillac CTS Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey buster6. Here you go.

    GMAC's June base lease rate and residual value for a 36 month lease of a 2010 Cadillac CTS Sedan 3.0L 2WD with 15,000 miles per year are 1.45% and 45%, respectively.

    This car's lease program varies by trim level. Let me know if you're interested in a different version.

    When negotiating your deal, make sure to take advantage of the $4,850 cash incentive that is currently available on leases of this car through GMAC. I believe that General Motors is waiving the first month's payment on leases of this model as well.

    Car_man
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  • I'm in NJ and about the pull the trigger on leasing a 2010 Cadillac CTS Luxury model. The car is RWD, 12k/year, and everything else it comes with is standard in the Luxury package. Tax/titles/etc works out to be around $2,700 down. The price I negotiated with the dealer is $389/month. From what I've seen on these postings the price seems great. Can someone confirm whether or not this is a good deal? I had wanted the base model and could have gotten it for $349/month but they didn't have black.

    Also, does anyone know where I can get a GM Customer Appreciation $1,000 certificate? Can I try calling GM to get one? I didn't attend any of their sponsered events but I do have a GM Credit card.
  • jlkhjlkh Posts: 12
    Are there new incentives for July on the CTS AWD Premium? I dont see any listed on the GM site.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jlkh. Most of General Motors' June incentives are scheduled to run through today, July 6th. However, it introduced a special holiday sales event on Cadillac.

    GM is now providing an amazing 0% financing for up to 6 years or $3,000 customer cash or a special lease program through GMAC featuring a $6,425 cash incentive and a low lease rate of 1.8% for 36 months on the 2010 CTS.

    Car_man
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  • jlkhjlkh Posts: 12
    The dealer has provided this price quote:
    2010 CTS AWD 3.6 Premium
    49590 list
    -2767 discount
    -1000 conquest incentive
    sale price 45823
    I am in Illinois, so the 7% sales tax has to be included based on the purchase price.
    36 month, 10K miles per year
    the rate was 1.8%, 47% residual.

    The quote with no money down , all taxes rolled in was $620/month, but it seems high based on the fact that there is the $6425 CCR that should be included.

    Does this seem right?
  • delta737hdelta737h Posts: 603
    edited July 2010
    jlkh,

    You haven't provide enough information for me to determine whether or not the $620 payment makes any sense. However, based on this payment, I can confirm that the adjusted cap cost is $43,794.69 and should only differ from the dealer's figure by no more than a few pennies assuming that the list of 49,590 is the MSRP upon which the residual is calculated.

    Specifically, what is being capitalized (i.e., financed) in the lease besides sales tax? There is a $595 GMAC acquisition fee and I suspect that it's being capped. Is there a dealer doc fee? If so, is it being capped or paid upfront? I'm guessing that you haven't made a cash or trade cap reduction. Is that correct?

    What are you paying upfront? As you can see, there are just too many unknowns. But, if I had to make an educated guess, which I hate doing, I would guess that the $6,425 has already been deducted and, accordingly, is reflected in the $620 payment. Here's why this is plausible...

    MSRP.................. 49,590.00 (assuming list = MSRP)
    MSRP Disc.......... 2,767.00
    Sell Price.............. 46,823.00 (taxable)
    III tax.................... 3,350.00 (est)
    Acq Fee............... 595.00 (taxable)
    Dealer Fees......... 451.69 (inclu doc fees- taxable)
    GROSS CAP....... 51,219.69

    Cap Reductions
    Conquest incentive....1,000.00
    CCR....................... 6,425.00

    ADJ CAP............... 43,794.69
    Res Value............. 23,307.30
    Lease Rate........... 1.8%
    Term................... 36
    Lease Payment.... 620.00

    Amt Due at Signing: 1st Payment + DMV Fees

    This would be my best guess. We can, however, avoid guessing. I suggest that you ask the dealer for their LEASE WORKSHEET. This is a computer generated document and will tell us everything we need to know including the questions I've asked above. If they refuse, RUN; DON'T WALK! Otherwise, you can email it to me at

    diffeq@zoominternet

    and I'll be happy to review for you if you wish. Let me know.

    John
  • jlkhjlkh Posts: 12
    The only money that is due at signing is the $620 first months payment, there is no trade or additional cap reduction. The aquisition fee (595) , doc (150) , license plates (170) and title (65) fee would be the only others. Do you know if GMAC requires a security deposit?

    Assuming that those fees are correct, do the numbers work in your opinion? I will try to get the worksheet from the dealer.
  • delta737hdelta737h Posts: 603
    What does...

    "The aquisition fee (595) , doc (150) , license plates (170) and title (65) fee would be the only others."

    mean?

    Does it mean the only other fees that you're paying upfront? Did you look at my entire post? I still can't answer your question as I would be guessing. I still need more info.

    GMAC may require a security deposit. It depends on your credit.

    John
  • jlkhjlkh Posts: 12
    Yes, those would be the other fees that are rolled into the payment. The only upfront money due at signing is the first lease payment. Of the 5 dealers that responded to my online request, only ONE would even provide any lease price info without going to the dealer! They want to make it difficult to compare.
  • delta737hdelta737h Posts: 603
    Okay, so the other fees (doc, license, title) total $385. If you look at my post #403 you'll see the following item...

    Dealer Fees......... 451.69 (inclu doc fees- taxable)

    This indicates that 451.69 - 385 = 66.69 hasn't been accounted for... and so, we still have an unresolved issue.

    Also in that post, I indicated the following...

    I suggest that you ask the dealer for their LEASE WORKSHEET. This is a computer generated document and will tell us everything we need to know including the questions I've asked above. If they refuse, RUN; DON'T WALK! Otherwise, you can email it to me at

    diffeqzoominternet

    and I'll be happy to review for you if you wish.

    If you can't provide me with this worksheet, there really isn't anything else I can do because I would only be guessing and; that's the problem you encounter whenever you allow a dealer to "run the numbers" and "control the deal".

    For whatever it's worth, here's what I do...

    1st. I do research regarding residual factors, money factor (I always use the buy rate), learn applicable incentives, examine promo ads, and establish a competitive selling price using edmunds, KBB (Kelly Blue Book), and overstock at zag.com.

    2nd. I create a one-page lease proposal (samples attached) with all pertinent data including a description of the vehicle, MSRP, sell price, amounts capitalized (e.g., taxes, acq. fee, etc), cap reductions (e.g., trade, cash down, etc), money factor, residual factor, residual value, term, taxable payment, lease payment, amounts due up front (itemized), contract provisions (gap insurance, excess mileage charge, applicable disposition/purchase option fees).

    3rd. I Fax/email the proposal to the dealer and negotiate via phone/email from the comfort of my home/office with my laptop excel spreadsheet (actually Mathematica) lease program fired up and ready to rumble! The only thing I'm likely to negotiate is the sell price and that only requires a few keystrokes on my laptop. And, bing bang, boom I'm done!

    The key (no pun intended) is that you must control the deal. Never ever allow a dealer to control the deal by allowing them to ":run the numbers". Trying to figure out the dealer's numbers is often a pointless exercise and, frankly, a waste of time. These people often lie or simply don't know what the they're talking about. Allowing the dealer to control will only end up costing you money in most instances. A one-page lease proposal speaks volumes about you... it sends the message that you know what you're talking about and you know and understand leasing. That quickly serves notice to the dealer, and so; they're not at all inclined to play games. This suggests that the biggest advantage of a lease proposal is that it saves time, money, and aggravation.

    John
  • jlkhjlkh Posts: 12
    I am in agreement. I would rather not waste time. Can you attach the samples?
  • delta737hdelta737h Posts: 603
    edited July 2010
    Yes, email me at

    diffeq@zoominternet.net

    and I will send you samples of lease proposals.

    John
  • buster6buster6 Posts: 104
    Car_Man, do you have any info on the 24 or 27 month lease offered this month?
  • jlkhjlkh Posts: 12
    I have these numbers on a CTS AWD,3.6, Premium list price 49590

    22,500 miles for the 27 month. The interest rate is 0.25% with a security deposit and 0.75% without.

    residuals are: 51% 27 month,53% 24 month

    Incentives: CCR $6425, Conquest $1000
  • neil22neil22 Posts: 19
    Car man
    Would like money factor and residual information for 36 months, 15k per year..for a 2010 CTS AWD Luxury, and any cash incentives available

    Thanks
  • traceyvrtraceyvr Posts: 2
    I came across 2 CTS Premiums..1) sticker 39,495 w/12,241 miles, 2) sticker 39,995 w/ 10,075 both fully loaded. Salesman states both cars are valued around 51,000. The cars are not Certified Pre-Owned...salesman stated that they could be listed as CPO for an additional 1300.00, but that CPO's can not be leased. Are these good prices for the miles? And I thought CPO's could be leased...
  • traceyvrtraceyvr Posts: 2
    edited July 2010
    Sorry I didn't state the year they are 2010....
  • Kirstie_HKirstie_H Posts: 10,870
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do, buster6.

    GMAC's current base lease rate and residual value for a 24 month lease of a base 2010 Cadillac CTS with 15,000 miles per year are 0.25% and 51%, respectively.

    This car's lease rate is the same for all trim levels, but its residual values vary. Let me know if you want a different version of this car and I can give you the exact resid for it.

    Not only is GM's lease rate for the '10 CTS incredibly low, it is providing a whopping $6,425 cash incentive on leases of this car through GMAC right now. Make sure to take this cash into account during your negotiations.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi neil22. GMAC's July base lease rate and residual value for a 36 month lease of a 2010 Cadillac CTS AWD Luxury Sedan with 15,000 miles per year are 1.8% and 45%, respectively.

    As mentioned in previous posts, when negotiating your deal on this car make sure to take advantage of the $6,425 cash incentive that is available on leases of it through GMAC.

    Car_man
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  • neil22neil22 Posts: 19
    Thanks car man
    I picked up a 2010 CTS AWD performance MSRP 47585 (3.6 engine,nav, spare tire sunroof) with 3,000 demo/loaner miles..for $390 per month with upfront payment of sales tax, reg, doc fees etc of $3350 on a 39 month lease with 15K miles per year and the dealer paid off the remaining $650 in lease payments on my car
    I think i got a good deal..again thanks for all your help This forum is invaluable
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, neil22. Congratulations on getting your new ride :shades: ! Thanks for taking the time to let us know how everything turned out. Enjoy!

    Car_man
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  • tylerdurden1xtylerdurden1x Posts: 4
    edited July 2010
    Car_man,

    I am looking at the CTS. I am not sure which model I can afford yet but I will probably do a 24 or 27 mo lease. Could you post some of the residuals and MF's on a few of the models for 12k/miles?

    Also everyone is mentioning the $6425 in incentives. How come this is not listed on edmunds? Can you break down all of the incentives for me so I do not seem clueless when i mention that? Also should I try and negotiate that $6425 off of the invoice price? Is that only for lease or are the incentives included if I choose to buy?

    What is the $1000 conquest for? is that included or separate in the $6425?

    Thanks!!
  • bokononbokonon Posts: 9
    edited August 2010
    Car man,

    Do you have lease information for August for the 2010 CTS Wagon? Specifically, does the $6425 lease cash and $1000 conquest from July carry forward? What are the 10K miles/yr 27 month interest rates and residuals for the Performance and Premium styles? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tylerdurden1x. GMAC's current base lease rate for a 24 month lease of a 2010 Cadillac CTS with 12,000 miles per year is 0.25%. This car's residual values vary by trim level. You never described the exact car that you're interested in getting. GMAC's current 24 month, 12,000 mile per year resid for a 'base 10 CTS 3.0 RWD is 53%. Let me know if you want a different model.

    General Motors is definitely providing a whopping $6,425 cash incentive on leases of this car through GMAC right now. I'm not sure why this cash does not appear in the incentives section of Edmunds.com, but it definitely exists. I am not affiliated with that section of the site.

    There is an additional $1,000 conquest cash on top of the cash incentive on leases, but only in certain areas. If you tell me where you live, I can tell you whether you are eligible for it.

    If I was in the market for a 2010 CTS right now, I personally would shoot for a selling price of $500 or so over dealer invoice minus all of the available cash incentives.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bokonon. I believe that GM's July incentives on the 2010 CTS are scheduled to run through September 7th. The lease program and cash incentives that you have seen mentioned for this car in July should still be available in August.

    GMAC's current base lease rate for a 27 month lease of a 2010 CTS Wagon is 0.25%. The 27 month, 10,000 mile per year resid for a '10 CTS Wagon 3.0L Performance RWD is 52%.

    The lease rate for an otherwise identical lease of a 'CTS Wagon 3.0L Premium is the same, but its residual value is 51%.

    Car_man
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  • bokononbokonon Posts: 9
    Thanks, Car_man. Do the residuals change for an AWD model?
  • Hi Car_man

    Do you have any info on 2010 or 2011 CTS-v lease numbers? There are a bunch of '10s here in LA around the $68k sticker price. Ideally, I'm looking for a 3yr/36k miles lease but could go down to 27 months/27k miles.

    Thanks for your time!
  • suzay22suzay22 Posts: 11
    Hi Car man,

    I've leased many vehicles but the $6425 cash incentive is throwing me off base. If I were to lease a 2010 CTS AWD Luxury, are you saying that once I know invoice, then I can take off an additional $6425 below invoice and then do my dealing? I have this feeling like they are going to look at me and say, "where did you get that figure?". So would you please elaborate on that so I know what I am talking about? Thanks a million.

    Interested in lease rates for 36 month/12,000 mile on that model. Current GMAC lessee now.....any extra incentives on turn in to lease again? Thanks!
  • Car_man,

    For this particular vehicle:
    http://www.gmcnorthcounty.com/VehicleDetails/729142513

    What would the incentives, money factor and residual be for a 36mo 15kmi/yr lease?

    Thanks for your help!
This discussion has been closed.