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2013 and earlier Cadillac CTS Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Yes, roman371, the lease cash that General Motors is currently providing on the Cadillac CTS is compatible with the discount that you would receive on it if you were to lease one through GM;s supplier purchase program. I would be happy to estimate what your lease payment should be on the car that you are interested in for you. However, in order for me to do so I need you to provide me with its full MSRP. Let me know and I'll do some calculations.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi maizeandblue7. Nothing is more annoying than being hesitant to drive your vehicle because you do not want to go over your mileage allowance. You can always purchase additional miles at a discounted rate at lease signing if you think that you will need to drive more than 15,000 miles per year. GM's lease program on the Cadillac CTS is pretty good right now, but if you are not completely sold on leasing you can always take advantage of the outstanding finance rates that GM is providing on this car right now. You can finance a 2006 Cadillac CTS through GMAC at 0% for up to 5 years at this time. It doesn't get much better than that.

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  • Hi Car_man or others,

    Here is teh offer I got for a 2006 CTS 3.6L Auto trans demo car with 3k miles on it

    Selling price: $30900
    Residual value: $18011
    Monthly payment: $299 + 7.75% tax in IL
    Cap cost reduction: $2899
    Milage allowance: 12K
    Lease : 39 Months
    Please tell me if this is the good deal or not
  • aphaph Posts: 4
    What I'm having trouble understanding is how these dealer incentives work in conjunction with credit scores. I understand that the manufacturer can offer either a financing incentive for the upper-tier credit scores such as 0% for some time. What happens if they offer say, $3000 back in lieu of the 0% financing? Does that require the same upper-tier credit score and, if so, how much would the amount decrease with a lesser credit score.

    I am looking to take advantage of the $299/mo, 39 mos., $0 down, $1939 at signing listed here at Edmunds.com but I can't figure out if I'm eligible with my credit score, which was 626 a month ago. How would this offer be affected by a mid-tier credit score like mine?
  • aphaph Posts: 4
    I spoke with a dealer here and he offered me the following:

    2006 Cadillac CTS
    4dr Sedan (2.8L 6cyl 6M)
    $33,635 MSRP (Edmunds shows $32,390)
    $31,800 invoice (Edmunds shows $30,080)
    39 months
    3.95% base lease rate
    .53 Residual = $17,826.55
    Cost reduction -$2,800 (Edmunds shows -$3,000)
    Administrative fee "charged by GMAC" $780

    All for $32,678 (he says it's invoice + administrative fee + $500 + his cost of sending a driver to get the car from another dealership).

    Is he lying about the MSRP and invoice here? I understand these things can change, and he said that this car is >200 days old so has the "older MSRP". I am willing to give him $500 but only if he is giving me accurate information in regards to MSRP, invoice, and that the administrative fee is really charged by GMAC.
  • aphaph Posts: 4
    Forgot to include that that MSRP and invoice includes:

    M82 5-Speed Shiftable Automatic Transmission ($1,200 MSRP, $996 invoice)
    CF5 Power Glass Sunroof w/Express Open ($1,200 MSRP, $996 invoice)
  • cwrealcwreal Posts: 4
    I really don't know. The 'agreed upon value" in the lease contract is $36,494. and the gross capitalized cost is $37.450.
  • dman090dman090 Posts: 4
    Does anyone know the money factor that Cadillac is using for its 299/mo setup?
  • cme2ccme2c Posts: 7
    Carman,

    Any idea what the dealer incentive and Residuals would be for a 2005 CTS. I would like to do a 39 or 48 month with 15,000 miles. A local dealer has a new 2005 CTS with Sport package and Auto Trans. MSRP is 42,000. I am hoping to get about 10,000 off MSRP, maybe more. Nobody was there tonight, gonna go back tomorrow to try to deal.
  • cme2ccme2c Posts: 7
    The 2005 CTS I mentioned above has the 1sc package, sport package, luxury package, autotrans. Just curious if they still offer the non-GM owner bonus?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi radioative2006. What is this car's full MSRP? I ask because this number will show me how much of a discount you are being given and it will enable me to use GM's current lease program to estimate its monthly payment. For now I can tell you that it is not in your best interest to make such a large down payment on this lease. Consumers can and should lease any vehicle that they are interested in without making any sort of down payment. I say this because if your leased vehicle is totaled in an accident or stolen and never recovered during your lease your down payment essentially disappears. Anyhow, let me know this car's MSRP and I'll tell you what I think.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello aph. Consumers' credit scores do not have any impact upon the cash incentives that are available on vehicles. They only impact the interest rate that you will be charged if you want to finance or lease. This is a moot point anyhow because I do not believe that the aforementioned dealer cash is compatible with GMAC's special lease program for this model. GMAC is usually fairly lenient in who it approves for its special finance and lease offers. While I cannot say for certain, I suspect that there is a very good chance that you will qualify for GM's special lease program for the CTS.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi aph. The 3.95% lease rate that you were quoted for this car is right in line with GMAC's current base lease rate for it. This is always a good thing. While GM is providing $3,000 customer cash on the '06 CTS right now, its normal customer cash incentives are not compatible with special leases through GMAC. GM has special lease cash incentives that are compatible with leases through GMAC. Its current lease cash allowance on the '06 CTS 2.8L is $2,800. The "Administrative Fee" that you were quoted is too high though. GMAC charges a $595 acquisition fee on every vehicle that it leases. You shouldn't have to pay any more than that. $500 over dealer invoice minus the $2,800 lease cash for a car that this dealer has to swap for is a very reasonable deal. I'm not sure why the prices that the dealer you are working with mentioned are different than the prices that you saw listed here though. The "older" MSRP excuse really doesn't fly. When GM reduced the MSRPs of its cars in mid-January it gave dealers dealer cash on their existing inventory to make up for the difference. Any '06 CTS 2.8L that this dealer has had in inventory prior to the price reduction would be eligible for $803 dealer cash.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi dman090. GMAC's current base lease rate for the 2006 Cadillac CTS is 3.95%. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. So a lease rate of 3.95% would be equivalent to a money factor of around .00165.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi cme2c. Earlier this year General Motors provided dealers with a $1,750 final dealer cash payment for any 2005 Cadillac CTS models that they had remaining in inventory. GMAC is no longer leasing '05 models. You might be able to find an independent bank that would lease you this car, but this late in the model year I doubt it. If you really want an '05 CTS you will have to finance it through an independent bank or pay cash for it. If you want to lease, you would be better off going with a 2006 model. It has larger cash incentives available on it, a special lease rate, and higher residual values than an '05 model would.

    Car_man
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  • andre1andre1 Posts: 78
    Car_Man,
    It appears that GM is offering $4000 customer cash on all 2006 CTS-V's. How much of that customer cash is eligible to be used if I lease the vehicle? Also, what are the August lease rates(money factor, residual) on 2006 CTS-V for 24 and 36 months for 12K and 15K miles per year. Thanks.
  • carlaw1carlaw1 Posts: 3
    Car_man,

    I am looking for the same information on the CTS-V. Thanks again.
  • Car_man

    Is it true that gmac REQUIRES a drive off? What is the best way to lease a CTS for $299/mo with $0 down...do you think that's possible or way off course?

    Here is the response from the dealership when I inquired about leasing a black 2006:

    OK I have one 06CTS blk on blk sunroof,luxury pkge 6cd,navigation, manager demo
    3 year lease
    1500 drive off
    376 + tax = 407
    its a Great Deal below invoice
    if not would you like a 2007 but it would be much more
    im trying to help
  • This looks like a very good deal to me, especially since it's the 3.6L. How did you get them to give you such a high residual value, and cap cost reduction, was that incentive? Did you end up with the car and are you happy with it?
  • Hey andre1. Unfortunately, the customer cash that General Motors is providing on the 2006 Cadillac CTS is not compatible with special leases through GMAC. GM is providing $2,600 lease cash on the 2006 CTS-V though. GMAC's current base lease rate and residual value for a 24 month lease of a 2006 CTS-V with 15,000 miles per year are 3.95% and 63%, respectively. The numbers for an otherwise identical 36 month lease of this car are 3.95% and 52%. With 12,000 miles per year, its 24 month residual value would be 2% higher and its 36 month residual would be 3% higher.

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