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2013 and earlier Cadillac CTS Lease Questions

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  • Car_man..are you sure because I've noticed that the Invoice cost of the Cadillac CTS has jumped up $500. The previous deal was a base price on the base end model CTS at $33,490 and this month the base price has jumped up to $33,990. When I was about to purchase my vehicle the dealer quoted me the lower price and when he tried to order the car he stated that the pricing has changed for some wierd reason. I'm wondering if this lease offer is due to the change in pricing of the car. If you have any links on the GM owner loyalty offer I'd greatly appreciate it.
  • ddeliseddelise Posts: 339
    Back in January GM had price increases of $500-$1000 on just about every model due to increased steel, energy, material, etc. costs.
  • Much appreciated. Does this apply to the change in cost from March to April? This just recently changed.
  • ddeliseddelise Posts: 339
    As far as I know, the cost of cars did not increase between those produced from March - April.

    For cars that were already produced before January and on dealer lots, the invoice price did not change. Perhaps what happened is that the dealer was assuming you were going to buy a car already in stock that was produced before January, or did not pay close attention and quoted a newly ordered car based off of the pre-January cost.
  • This was actually changed on both Edmunds.com and on the Cadillac website.

    The newly advertised lease special displays $33,990. Last month the add showed $33,490 for the same vehicle.

    Invoice prices for the bast model Cadillac Automatic was $32,440 on Edmunds just this past month. Now the new price is $32,908. There has been an increase of $500 on the dealer website and an increase of $468 on Edmunds.com. This is all from March until now on the same vehicle.
  • ct1211ct1211 Posts: 56
    Hi car_man, I know your busy but might you be able to supply me with the April Residuals and money factors for the Caddy CTS?? I know they use an interest rate not a money factor. For some reason this seems like a hard thing to find even checked leasecompare website. I am looking at 24 & 36 month @ 15K miles per year!! Thanks so much!!!

    Craig ;)
  • ct1211ct1211 Posts: 56
    I'm looking at leasing a CTS Direct injection but finding lease numbers on this car seems impossible. Assuming the money factor is 6.1% Does anyone no the residuals for 24 months with 15K miles?

    Thanks!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Spike. GMAC's current base lease rate and residual value for a 27 month lease of a 2008 Cadillac CTS with 10,000 miles per year are 6.1% and 72%, respectively. The numbers for an otherwise identical 36 month lease ate 6.1% and 64%. The 39 month numbers are 6.1% and 63%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Craig. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Cadillac CTS with 15,000 miles per year are 6.1% and 69%, respectively. The numbers for an otherwise identical 36 month lease are 6.1% and 59%. When negotiating your lease on this car, make sure to take advantage of the $500 owner loyalty / conquest cash promotion that is available on it right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • lsleeleelsleelee Posts: 14
    Car man, in post #274 you list the 36mo/15K numbers as 59% and 6.1% and in post #273 you list the 36mo/10K numbers as 64% and 6.1%. Usually the difference between 10K and 15K residuals is 3%, not 5%.

    Was one of these posts a typo? Was the earlier post written based on the April program before the May program came out? Are both correct?

    Also another question, if you could : I hate how GMAC quotes lease rates in interest rate instead of money factor. 6.1% equates to 0.00254, right? The further 1% that the dealership is allowed to mark that up equates to 0.00042? Alternately, could you provide me with a formula for calculating a lease using % rather than MF?
  • May CTS residuals are 24m=69 , 30m=64 , 36m=59 , 48m=50. Money Factor is 6.1% or .002984.

    I dont have the formula to use a percentage but take the percentage and divide it by 2044 to get the money factor.
  • gforce11gforce11 Posts: 225
    div by 2400 to get the %
    multiply by 2400 to get the MF
  • kyfdxkyfdx Posts: 27,597
    Other way around, I think...

    Multiply the MF by 2400 to get the %
    Divide the % by 2400 to get the MF

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • gforce11gforce11 Posts: 225
    ROFL. You're right kyfdx. I think I was on crack that day. LOL
  • pokeyraipokeyrai Posts: 3
    Well, after a quick test drive, I'm in love with the CTS. I am frustrated though with the lease dollar amount the dealer gave me today vs the calculations I've done at home.

    I am working under the assumption that the residual for a 24 month/15k mile lease is 69% with an interest rate of 6.1% (MF 0.00254).

    The MSRP of the car is $50,285
    My GMS (thank you Mom and Dad) price is $44,259.23

    My tax rate is 5.5%

    The dealer is quoting me $700 per month with tax and my calculations have me at $631.90. I could be missing a fee or two, but not by that much.

    Am I screwed up?

    Any help would be appreciated
  • gregctsgregcts Posts: 1
    Can you get a CTS lease with zero down?
  • gforce11gforce11 Posts: 225
    631.90 would be if you pay all of your inception fees upfront...around $1550. I would advice you to do so since your interest rate is rather high.
    If you do $0 at signing, your lease payment will be $700.

    ZERO down is not the same thing as ZERO drive-off.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gregcts. One can lease basically any vehicle that they want without making any sort of down payment aka capitalized cost reduction. Having said this, even with a zero down lease consumers still have to pay their vehicle's first month's payment, security deposit, and GMAC's $595 acquisition fee at signing. Most of these fees can be rolled into the vehicle's capitalized cost rather than paid at signing, making them part of the monthly payment if the lessee wants.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • pokeyraipokeyrai Posts: 3
    Here is what I finally was able to get from the dealer:

    Zero cap cost dollars down (rolled the $595 acquisition fee in)
    Paid the usual upfronts of 1st month and TT&L

    With tax (5.5%), I am paing $665 on a 24mth/15K mile lease
    MSRP $50,285

    Love my new CTS!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new CTS, pokeyrai. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.