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2013 and earlier Cadillac CTS Lease Questions

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  • jd00510jd00510 Posts: 10
    What did the lease calculator say when you plugged the above numbers in? Were you in the same ballpark?

    Sounds awfully high to me. Didn't you say they offered you like 20k for your trade?
  • mrcoupemrcoupe Posts: 27
    those numbers sound very high ,,how much is the car ,,and what are the total rebates on car also your putting over 4000 down with the trade in find another dealer dont mention the trade in find out deal then bring trade in into equasion into the # s
  • legion455legion455 Posts: 6
    I've been trying to understand all of this ... so far ...

    Auto Leasing: Monthly payment is sum of 3 items:
    1. Depreciation Payment
    2. Finance Charge
    3. Taxes

    Depreciation payment = [(Net Cap Cost) - (Residual Value)] / Term of lease (months)
    Residual value = MSRP x (residual percentage) [In my case: MSRP = $50,740 residual = .56]
    Residual Value = $50,740 x .56 = $28,414.40 (cars value at the end of the lease)

    Net Cap Cost = [MSRP] - [Down Payment or Trade-in Value] - [Dealer Discounts off of MSRP] - [Manufacturer Rebates] + [other fees]
    In my Case: Net Cap Cost = $50,740 [MSRP] - $4111 [trade-in] - $2633 [Dealer Discount] - $2800 [GM Lease Rebate] + $1250 [*1st payment, prep, etc]
    * Dealer said even thou I had a trade in, there was a Downpayment of 1st months lease, prep, maybe profit & other fees ,, so I told them to include it in the lease)

    Net Cap Cost = $42,446 so ...
    1. Depreciation payment = $42,446 [net cap cost] - $28,414.40 [residual] / 36 [3yr lease] = $389.70

    2. Monthly Finance Charge = [ $42,446 [Net Cap Cost] + $28,414.40 [Residual Value] ] * .001 [Money Factor [= 2.4% [Lease Rate] / 2400]]
    Monthly Finance Charge = $70.86

    3. Sales Tax payment = [Depreciation Paymt + Finance Charge * Indiana Tax rate = .07] = $32.24

    $389.70 + $70.86 + $32.24 = $492.80, monthly lease payment.

    They quoted me $525/mo ... so, ... when I go in tomorrow to pickup car,... I'll have to figure out what the difference is.

    Yep, I better take some Vasoline with me ....

    Allen
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi mrcoupe. I think that the lease program is about the same in May as it was in April.

    Ally's current base lease rate and residual value for a 24-month lease of a 2013 Cadillac CTS Coupe with 15,000 miles per year are 1.0% and 65%.

    The numbers for an otherwise identical 36-month lease are 1.9% and 55%.

    General Motors is currently providing a $1,300 cash incentive on 24-month and $2,800 on 36-month leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Allen. The $2,000 dealer cash is not available on leases of this car, but there is an even better $2,800 cash incentive on 36-month leases.

    Please see my previous post for the lease information that you're looking for.

    There's nothing wrong with trading in your current vehicle when leasing a new one, however you should have the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • legion455legion455 Posts: 6
    Hey there, thanks for the post... you said:

    36-month lease are 1.9% and 55%.

    But, my dealer told me on the CTS Coupe 2013,... it was 2.4% lease rate and 56%. (ally) (36 months)

    How do I find out what's really true? I'm supposed to go back tomorrow afternoon to sign and get the car.

    Confused in Louisville .... Allen (and my credit score is almost 800!)
  • mrcoupemrcoupe Posts: 27
    what a diff 1 year makes the deals were better last year at this point guess car sales are good,,,,the lease on my srx i up and i really though i would see some better numbers,,so far
    i am at 515 1300 out of pocket premium w nav crome rims awd 52.640 coupe
  • jd00510jd00510 Posts: 10
    edited May 2013
    You guys talking about "taking vasoline to the dealer" ... I just have a question.

    wtf?

    Why don't you stand up to the dealer, figure out exactly where their numbers are coming from - as in that last case, figure out where that extra $30-40 a mo is coming from and if you don't agree with it, NEGOTIATE. OR WALK! Find another dealer that won't d!ck around. Seriously, it's so sad to see you all talk about things like you're being held hostage by the dealers and seemingly are just spectators in this process.

    On the other hand, maybe I shouldn't complain since all you people that overpay allow me to negotiate much better deals.
  • legion455legion455 Posts: 6
    Found out that the 1.9% lease rate is for the CTS V Coupe and the 2.4% is for the regular Coupe.

    Got the car,... $520 and change. I didn't like the $795 acquisition fee,.. but.. other than that.
  • mrcoupemrcoupe Posts: 27
    hello how are you i got quoted a premium for 513 52640 awd,,nav crome rims 1300 down does that sound good i might wait till memorial day ,,they usually get better
  • wfk21wfk21 Posts: 8
    I'm located in south Florida, was just quoted the following terms;

    - 39 months
    - 12,000 miles per year
    - $579/month includes tax
    - Out of pocket at signing will be first payment and title

    MSRP = $45,595

    On a side note, I'm currently trading in my 2010 CTS Sedan which has three lease payments remaining so the dealer said as part of the deal they would pay off the remaining three payments.

    Is this a good deal?
  • Could I get the lease factors and incentives offered on a base and luxury sportwagon 36 months, 12000mi/yr.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi srxguy_phoenix. Ally's June base lease rate and residual value for a 36-month lease of a 2013 Cadillac CTS Wagon with 12,000 miles per year are 2.3% and 55%.

    General Motors is currently providing a $2,690 cash incentive on 36-month leases of this model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kapkanimdkapkanimd Posts: 64
    Car_man,

    do you have the June residuals and MF for the CTS coupe for 24mo and 12kmi? Also, Edmunds doesn't show any rebates, but do you know of any? Thanks in advance.
  • wfk21wfk21 Posts: 8
    Just inked the deal last week, would like to know what Car Man thinks, it took several weeks of back and forth and many emails to get the deal done, but in the end I'm very happy. This car kicks [non-permissible content removed], period. I was a returning Ally customer with a credit score well into the 800s. I came into the deal with a $1,000 allowance from Ally. The dealer paid my last two payments on my 2010 CTS Sedan I was turning in early and also paid my first payment/title fee on the new car.

    Gross Capitalized Cost: $48,214.49
    Capitalized Cost Reduction: ($4,800) - None of this came of my pocket all dealer paid!
    Adjusted Capitalized Cost: $43,414.49
    Residual Value: $26,101.60

    Total Rebates and noncash credits = $5,926.87 all dealer/Ally/GM paid, I walked in with one set of keys and an hour later walked out with another set and didn't pay anything out of pocket.

    Included in the deal was a $599 Smartlease Protect Plan (protects against excess wear and tear) and a $50 prepaid Visa gift card.

    Terms:
    39 month lease
    12,000 miles per year

    Payment:
    Base $534.91
    Tax $32.09
    Total: $567.00
  • jd00510jd00510 Posts: 10
    That sounds like a pretty decent deal to me. About as low as I've seen it anyway. Where did you get the deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi kapkanimd. Ally's June base lease rate and residual value for a 24-month lease of a 2013 CTS Coupe with 12,000 miles per year are 1.0% and 67%.

    General Motors is currently providing a $1,300 cash incentive on 24-month leases of this car through Ally. There's another $1,000 cash incentive on leases of this car to the current owners of select competitive models.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm looking to lease a 2013 Cadillac CTS Sedan AWD Luxury or a 2013 Cadillac ATS AWD Luxury, both with no other options. I would like a 10k/24mo, 12k/24mo, or 12k/36mo. I am eligible for GMS but I am not eligible for Conquest. I keep getting numbers back varying by as much as $90/month and most are reluctant to share the "real" numbers.

    I'm also considering an 2013 Equinox AWD LT 4 cylinder with no options but the Chevy dealerships seem to be more straightforward.

    I have never leased before and find it way more confusing than purchasing.

    Help?

    Thanks
    -Brian
  • artmbgolfartmbgolf Posts: 57
    You are lucky if you have enough Cadillac dealers nearby to compare numbers and even luckier if they all have the car you want.

    If you are going to lease, they will have to show you the numbers on the lease agreement, at least the cap cost, cap reduction, residual, tax. If something looks wrong, don't sign it.

    The varying numbers means one dealer is discounting more, unless one is basing it on 10k and another on 12k. One might be $0 down another might be $2000 down. A down payment lowers your lease payment, but doesn't save any significant amount of $.

    Chevy is probably more used to competing against other dealers.

    Leasing is OK if you generally trade every 2-3 years anyway. If you buy, usually the next trade-in will be offered at less than the residual would have been. The first lease works very well, if you have a trade that pays for most of the lease.
  • mrcoupemrcoupe Posts: 27
    JUST TURNED MY SRX LEASE IN END OF JUNE,,
    HI CARMAN ARE THE DEALS ANY BETTER ON THE CTS COUPE,, I HAD HOPED THE 2YR LEASE GOT BETTER,, 2YR AND 3 YR WHAT ARE THE NUMBERS AND REBATES THANX FOR ALL YOUR HELP,,,,SEEMS THE CAR COMPANYS ARE SHRINKING THE REBATES AND INCENTIVES ALSO NOT SEEING ANY ACTIVITY ON THE CTS FORUM GUESS THEY ARE WAITING FOR NEW ONE
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