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2013 and earlier Cadillac CTS Lease Questions

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  • Hi carlaw1. Check my previous post for the info that you're looking for. Let me know if you have any other questions.

    Car_man
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  • Hey ctsordie. Like most banks that lease vehicles, GMAC does not require consumers to make a capitalized cost reduction when leasing. You can and should lease any vehicle that you want through GMAC without making any sort of cap cost reduction. You will have to pay GMAC's $595 lease acquisition fee at signing or roll it into your vehicle's cap cost though. You will have to pay your car's first month's payment at lease signing. I don't know how many miles are on the demo that the dealer that you are working with mentioned, but if it is a demo it better be below dealer invoice before the deduction of the lease cash that is available.

    Car_man
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  • Is this a deal?!? I think so...
    loaner 2007 Cadillac CTS - basic (no sports package)
    Black on Black
    MSRP $31575
    Sale Price 28490
    Net 26345
    Tax (6.25%) 1646.56
    Vehicle Inventory Tax 65.52
    Documentary Fee 50.00
    Deputy Fee 5.00
    License, Xfer, Title, Registration fees 103.80
    Inspection 21.75
    Total Cash Price 28237.63
    Up front down $3000
    38 months
    10K miles/yr.
    4000 miles on car, get 32500 total
    282.86/month
    Also have $800 ish on GM card credits - that applies to sale price of vehicle?!?
    From Sewell in Dallas
  • i got a similar deal but it was brand new with 6 miles on it with msrp of $31605 before all the rebates. i paid $2800 due at lease signing with 38 more payments of $263 + tax = $287 per month. i spoke with 5 different dealers in philly area and finally found one that made this deal. i love the car. goodluck.
  • Hi futurecaddyman. I believe that the dealer invoice price for a base 2007 Cadillac CTS 2.7L with an automatic transmission is around $29,473. As you can see, the selling price that you were quoted is around $1,000 under dealer invoice. The dealer was able to arrive at this price by using the $2,145 bonus cash that is currently available on all Cadillac models. So, this price is really more like $1,045 over invoice, which isn't bad for a brand new car, but I personally would want a little larger discount for one that already has $4,000 miles on it. 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". Any GM card points that you have can be used as a down payment to reduce the capitalized cost of the car that you want.

    Car_man
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  • car_man, would you consider this a good deal? brand new with 6 miles on it with msrp of $31605 before all the rebates. $2800 due at lease signing with 38 more payments of $263 + tax = $287 per month. after i negotiated price i traded in my junker for $1500. i spoke with 5 different dealers in philly area and finally found one that made this deal. i love the car.
  • ddeliseddelise Posts: 339
    Car_Man -

    This is in Tampa, FL.

    Can you provide the lease factor, residual percentage, and incentives for a 36 or39 month lease at 12k miles/year?

    Thanks! Damon
  • Hi caddyhova. 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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  • Here you go, Damon. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac CTS 2.8L with 12,000 miles per year are 3.95% and 54%, respectively. The lease rate for an otherwise identical 39 month lease would be the same, but its residual value would be 1% lower. When negotiating your lease one this car, make sure to take the $2,145 bonus cash that GM is currently providing on it into account. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
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  • bagsbags Posts: 12
    Hi CarMan,
    Really appreciate your honest and helpful answers. I have an 04 cts and 48 mo. lease. I love the car. I've been thinking of buying it when the lease is over...(17 months from now). Lots of people tell me that's not smart. The car will have about 40,000 miles on it at lease end. Would it be smarter to just lease a new one at that time?
    Thanks,
    Bags
  • 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: 780
    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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  • 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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This discussion has been closed.