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2013 and earlier Cadillac CTS Lease Questions

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  • hello again car_man,
    the price was $29,500 + 595 gmac admin fee. please let me know what you think.

    caddyhova
  • Thanks Bags. Whether it is a good idea to purchase your CTS at the end of your lease all depends upon what its purchase price is. If you can purchase a car that you know the history of at a price that is in line with or less than what you would have to pay for a similar car on the open market then you might want to consider buying your it. If your purchase option price is much higher than it would cost you to purchase an equivalent used CTS then you should just walk away from your lease and lease or buy something else. The contract that you signed when you originally leased your car will have its lease-end purchase price printed on it. When you are close to the end of your lease, place a call to GMAC or whichever bank you are leasing it through and see if they would be willing to negotiate your car's price. There's no guarantee that they will be willing to do so, in fact more often than not banks won't, but it's worth a shot.

    Car_man
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  • Thanks for the additional information, caddyhova. OK, so you are considering leasing a 2007 Cadillac CTS 2.8L that has an MSRP of $31,605 and a selling price of $29,500. Given the fact that Cadillac is currently providing $2,145 bonus cash on the '07 CTS, the $2,105 discount that you are being given on this car is not very attractive unless you are able to have any available cash incentives subtracted from it. If you are in an area that has a decent level of competition, I suspect that you would be able to negotiate a selling price that is $500 or so over invoice before any cash incentives are taken into account. Shoot for a price that is more in that range and then have the dealer that you are working with use GMAC's base lease rate to calculate your car's monthly payment. Through January 2nd, GMAC's base lease rate for the 2007 CTS is 3.95%.

    Car_man
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  • Hi Car Man,

    Here's the lease I was offered today:

    2007 CTS

    Sticker 40,280
    Invoice 36,991

    Offer price 38,167
    less -2,000 lease incentive (cap cost reduction)
    Amount leased 36,167 plus tax, tags, docs

    $1,000 down

    12K miles/yr.

    $702 for 24 months
    $651 for 27 months

    What do you think?
  • vinnynyvinnyny Posts: 772
    apocalypso:

    You didn't ask my opinion, so I hope I won't offend you by offering it anyway. $702/month seems way out of whack unless the residuals on the 2007 have dropped through the floor. I'd be surprised if you couldn't knock $100/month off that deal.

    If you're not tied solely to the CTS, $700/month plus $1,000 will lease you a whole lot more than a $40k CTS. For example, you could get a loaded: BMW 335, Lexus IS350, or Mecedes C350 and probably get change back from your $1,000 bill. I've seen lightly optioned Corvettes lease for less. If you really love the CTS, you could actually buy it for less than the lease deal you were offered.

    Just my opinion, but I would run away from that deal...
  • Hi apocalypso. The selling price that you were offered this car for is $1,176 over dealer invoice. This isn't bad, but there's still some room to play with so it wouldn't hurt to shop around with another Cadillac dealer or two to see if you could beat this deal. You also should stop by the following discussion to see how much other community members have paid for similar cars lately: "Cadillac CTS: Prices Paid & Buying Experience". The $2,000 lease cash that you were told about is correct. Just make sure that the dealer that you are working with is using GMAC's base lease rate of 3.95% to calculate your car's monthly payment.

    Car_man
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  • I'm new to leasing and was wondering what is the difference is between Lease cash and Bonus cash? How do they factor in to a lease deal? In other words, do you make the best deal you can, and then subtract each from that negotiated price?

    Also, where could I find the current lease cash, bonus cash, base lease rate and residual value for a 2007 3.8L CTS?
  • MSRP 31330 2415 down 24 months 299 per month 10K do you think this is a good deal
  • Greetings blinddate. Since you are new to the world of 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.

    In answer to your specific question, both lease cash and bonus cash can be used to reduce the capitalized costs of leased vehicles. So for the purpose of calculating a lease payment, there essentially is no difference between these two types of cash incentives. Negotiate he lowest possible price that you can on the CTS that you are interested in and then have the dealer that you are working with subtract any available cash incentives from that.

    I can give you an idea of what the current lease program is like for the car that you are interested in. You never mentioned how long you want to lease for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac CTS 3.6L with 15,000 miles per year are 3.95% and 51%, respectively. General Motors is currently providing $2,200 lease cash on this car. Make sure to take it into account when you are negotiating its capitalized cost.

    Car_man
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    Prices Paid Forum
  • Hi caddyhunter. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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    Prices Paid Forum
  • Thanks the agreed selling price is 29,281 and total out of pocket is 2,415 Thanks again.

    Caddyhunter
  • milsey2milsey2 Posts: 12
    2007 CTS - 2.8L with some options
    MSRP - $37,620
    Invoice - $34,483
    What should the down payment and monthly rate pre tax be on a great 36 or 39 month lease - 12K miles per year?
    How much more would an extra 1K miles per year add?
    Thank you.
  • I am inquiring about the following lease deal:

    2007 CTS
    MSRP: $36,390.00
    less -$2,200 lease incentive
    Offer price = $34,190

    Amount leased $34,190.00 plus tax, tags, docs

    $3,500 down

    10K miles/yr.

    $329 for 39 months

    Do you think it is possible/worthwhile to get them to move on the MSRP
  • vinnynyvinnyny Posts: 772
    If you can't get a Cadillac dealer to move off MSRP on a CTS it's because you're not trying hard enough. There's a new model coming out in about four months and the last thing a dealer wants is a lot full of last year's leftovers!
  • joem11joem11 Posts: 2
    Hi Car Man,
    Can you tell me what the current GMAC residual percentage and finance factor would be on a 2007 CTS for a 39 month lease with 15,000 miles per year? I am thinking that I should be targeting a purchase price about $500 under the Edmunds invoice price. Does that sound right or are there incentives that would warrant a lower target?
  • anf_kidanf_kid Posts: 1
    I wanted to know how much a 24 month lease on a CTS with a MSRP of $38,220.00 with 15,000 miles/year would cost me if I prepaid the lease? I also get GMS pricing. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi milsey2. This car's lease payment will vary depending upon the selling price that you are able to negotiation on it. I believe that General Motors is currently providing $2,900 lease cash on the 2007 Cadillac CTS. Let's say that you were able to get this car for $500 over invoice, which would really be $2,400 under invoice after the lease cash is taken into account. According to my calculations, if you were to lease a 2007 Cadillac CTS that has an MSRP of $37,620 and a selling price of $32,083 ($34,483 - $2,900 lease cash + $500) through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $414. With 15,000 miles per year, the payment for an otherwise identical lease of this car would increase to around $443.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi aldogger2001. Unfortunately, this is not a very good deal. It appears as though you are not receiving any sort of dealer discount on the CTS that you are interested in. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible selling price that you can get on the CTS that you are interested in before talking payments. I personally would shoot for a selling price of around $500 over dealer invoice minus the available lease cash on an '07 CTS right now. You can look up the dealer invoice price of the exact car that you are interested in by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Also, make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Cadillac CTS: Prices Paid & Buying Experience".

    I noticed that you are considering making a $3,500 down payment on your CTS. I personally always advise consumers against making large down payments when leasing. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings joem11. Here's the information that you're looking for. GMAC's current base lease rate and residual value for a 39 month lease of a 2007 Cadillac CTS 2.8L or 3.6L with 15,000 miles per year are 3.95% and 50%, respectively. If I was in the market for this car right now, I personally would shoot for a price of $500 over invoice minus the lease cash that is available on it, putting your capitalized cost well under invoice.

    Car_man
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  • socalkidsocalkid Posts: 8
    Here's a little advice - WAIT FOR THE 2008 CTS. Trust me, please. The '08 is going to blow doors on the '07 and you're going to be left feeling bad for the entire lease of your '07 CTS. Don't panic.
  • selorchselorch Posts: 2
    There is currently $1,500 of marketing support on the CTS Bose. Is it possible to use this money to reduce the $2,999 down payment for the $299/mo lease?
  • BOBPUTBOBPUT Posts: 22
    YEH- but isn't GM known for letting 1st year buyers do their Beta testing of new model's defects ???? I'm trying to do the Bose ED 39 mo.lease special- $2200 GM support !-- but dealer tells me I can't get 1 with must-have Stabilitrak (17" or 18" wheel pkg) without a lot of other options, including NAV (I have a $300 portable GPS that does that!!!)-- can anyone find/have what I need ??? BOB in TAMPA
  • caddiguycaddiguy Posts: 4
    Hi- I just left the Caddi store in VA with a lease offer:

    2007 CTS Bose Edition
    (black,sunroof,Bose stereo,lux.package)
    MSRP $37,072
    Price $33,667

    DOWN: tax, title, first month payment
    MILES: 15K/Yr. , 39 Months
    PAYMENT: $463(no tax in payment in VA)
    CAP COST : $2200 lease incentive and $1205 discount =$3405
    We started at a $500 payment and got to $463
    Sound good to anyone??
  • vinnynyvinnyny Posts: 772
    No. Just my opinion, but you should be able to buy/lease a CTS for invoice anywhere in the country. You're probably leaving at least $800 on the table. If you can wait about four months, you'll save even more when the 2008's start to roll into showrooms. I figure the fire sale will start in late June (end of month, end of quarter, almost end of model year and end of production run).

    Whatever you do, don't buy one--the depreciation will kill you.
  • Hello. I was interested in this deal for my mom who likes the deal on this car. Can you advise if it's a decent deal. She is in her 60's and doesn't drive alot except to work and friends.

    2007 Cadillac CTS

    $249 per month/$249 down plus TTL
    MSRP $32,600; 39 month Smart Buy; $2900 down payment assistance on 2.8 liter from GMAC, WAC. Final Payment of $17,930; 10K miles per year.

    I talked to a sales person and if I understood him correctly he said that we would need a little less than $2,000 down for TTL which does include the $249 down.

    Thank you in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi selorch. I do not believe that General Motors' normal dealer cash incentives are compatible with GMAC's special lease program. Having said this, GM is providing a special $2,200 cash incentive on GMAC leases of CTS 3.6L Bose Edition models that can be used to help you negotiate an attractive capitalized cost for your lease. I'm sure that GM's advertised lease payment for the '07 CTS already takes this cash into account, but like most manufacturers' advertised lease payments there is probably still a little meat on the bone so to speak. Consumers who shop around are usually able to beat the selling prices that official advertised lease payments are based upon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello caddiguy. The car that you described has a spread of around $2,700 between its full MSRP and its dealer invoice price. If I was in the market for one, I personally would want more than a $1,200 dealer discount on it. It wouldn't hurt to shop around with another couple of dealers to see if you can beat the price that you have been quoted. You've got nothing to lose by looking around. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Cadillac CTS: Prices Paid & Buying Experience". Also, when negotiating your lease on this car, make sure that the dealer you are working with uses GMAC's current base lease rate of 3.95% to calculate your monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jeeppirate1. I don't personally keep tabs on GM's SmartBuy program, but I can at least give you my opinion on this car's selling price. This is a very important number to know when leasing or entering into a balloon note (which the SmartBuy program is). Let me know what the selling price is and I will be happy to let you know what I think.

    Car_man
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  • srqcaddysrqcaddy Posts: 6
    The dealer here in Sarasota, FL said that the $1500 is not compatible on the Bose Edition because of the $2200 discount that is already on the package. He did tell me that I would get the $2200 lease cash PLUS the $1500 marketing support on any other CTS without the Bose Package. My inquiry was for a GMS employee lease, not sure if that makes any difference on obtaining the additional $1500.
  • srqcaddysrqcaddy Posts: 6
    Carman, can you confirm 24mo/12k residual at 61% and 24mo/15k at 59% for the above car?

    Also, anyone know if $34630 (CTS 3.6L Bose Ed. w/auto) is used as MSRP for lease or do they add the $2200 worth of "free" options ($1000 Stereo and $1200 sunroof) back to make the MSRP $36830?
This discussion has been closed.