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Cadillac Escalade Lease Questions

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  • 996twint996twint Posts: 10
    Can the $1500 lease incentive be used with the $3000 cash incentive? I am looking to lease a 2007 ESV and wanted to make sure I was getting all my cash back.
    Also what are the current lease rates for both 24 and 39 months?
    Thanks for any help.
  • 996twint996twint Posts: 10
    Hi Carman,
    Are the 2008 Escalade ESV residuals better than the 2007? What are they compared to the 2007? I'm looking at either 24 or 39 months and was trying to decide which would be the best way to go.
    Thanks for any help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Dariel. I'd hate to see your gas bill if you drive 15,000 miles per month ;) . General Motors is currently providing $1,500 lease cash on the 2007 Cadillac Escalade. It is providing additional bonus cash on Escalade models that have been sitting on dealer lots for a long time. Specifically, there is $1,000 on units that have been in dealer stock since 1/11/07 and $2,000 on models that have been around since 11/12/06. Since I can't be sure that you will go with a model that is that old, for now I will ignore this cash but keep it in mind if you find an older model that you like.

    According to my calculations, if you were to lease an '07 Cadillac Escalade PEP1 that has an MSRP of $66,985 and a selling price of $55,271 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $748. The payment for an otherwise identical lease of a PEP2 would be around $697. The payment for an otherwise identical PEP3 would be around $636. I haven't calculated many leases on vehicles that were purchased using the PEP program, so I am assuming that it does not have any impact upon GMAC's residual values. If it does, these payments are not correct.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome squirrel1970. You never mentioned the selling price of the Escalade 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 truck 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.

    For now I can give you an idea of what its current lease program is like. GMAC's base lease rate for a 36 month lease of an '07 Cadillac Escalade is 6.15%. Its 36 month, 12,000 mile per year residual value is 59% on models without the top of the line wheels and 58% on models with them. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on this truck, make sure to take the cash incentives that I mentioned in my previous post into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 996twint. The $1,500 lease cash incentive is not compatible with the normal $3,000 customer cash. Having said this, GM is providing additional bonus cash on Escalade models that have been sitting on dealer lots for a long time. Specifically, there is $1,000 on units that have been in dealer stock since 1/11/07 and $2,000 on models that have been around since 11/12/06.

    GMAC's base lease rate for a 24 or 39 month lease of an '07 Cadillac Escalade is 6.15%. Its 24 month, 15,000 mile per year residual value is 66% on models without the top of the line wheels and 65% on models with them. The 39 month numbers are 55% and 54%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 996twint. Interestingly, the 2008 Cadillac Escalade's lease rates and residual values are currently exactly the same as the 2007 models' numbers. Take a look at my previous post to see what they are. As a result, given the additional cash incentives and dealer discounts that will be available on them at this point it will be cheaper to lease an '07 model.

    Car_man
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  • kjdakjda Posts: 3
    I'm interested in leasing an '08 escalade esv with an msrp of 72000.00 I see there are no incentives, but what should my estimate payment be for a 36 month with 15000 miles. I appreciate the info. I went to cadillac's website and it estimated it at 1245.00. Is that accurate?
  • Car_man

    I am looking to lease a 07 Cadillac Escalade. I want the following options:
    Black Raven
    Ebony interior
    2WD
    Climate package
    Power folding
    Captains Chairs
    22"
    Navigation
    Rear DVD
    39 months or most favorable term
    15,000 miles a year

    I was quoted MSRP $65525. Monthly payment of 864.03 + Tax = $935. with $1542.81 down. Is this a good quote? I figure end of the year, dealers are looking to unload 07's. I would like to get into one for $860 including tax per month. Is that to unrealistic?
  • Hi All,

    Hoping that someone could help me out. I am going to be leasing a 2008 Escalade AWD w/ the Ultra Luxury Collection option.

    MSRP is $66,065.

    What is the depreciation percentage of this vehicle on a 36 month/15K a year lease? Also, what is the money factor (interest rate) that people are seeing out there. When it comes to Cadillac, I am a bit lost on the metric's that determine a good deal. Any help would be greatly appreciated !!!

    Thanks,

    Eric
  • Hi....just went to dealer to check on the Escalade ESV for the wife. MSRP was $68,370.....Dealer reduced cap cost to $62,423. 39 months 6.1% APR... 54% Lease end value = $36,919...15,000 miles per year. The deal came to $909/month + $45 for taxes.....$955 total.

    Couple of questions to those who may have gone this route:
    1. The cap cost # seems high to me from what I've been reading in this blog. What would be a good # to shoot for here?
    2. I shouldve done this at dealer but didn't - on a 24 month lease can anyone tell me using the above #s what the monthly payment would be? I'm not sure what percentage would be used for Lease End Value.....

    thanks!
  • See my post - #93......i just went to dealer today and i got 6.1% .....what did your dealer give you for a lease end value and Adjusted Cap Cost?
  • Greetings escaladeleasee. The Escalade that you are interested in probably has a spread of around $5,500 between its full MSRP and its dealer invoice price. Plus, General Motors is providing $850 lease cash on it right now. This gives you a total of around $6,350 to play with. You were quoted a discount of right around $5,950 on this truck. That looks like an excellent selling price to me. The 6.1% lease rate that you were quoted is right in line with GMAC's base rate for this truck. If you like it, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • Car Man,
    Your thoughts on the below.

    2008 Escalade
    MSRP = $67380
    Selling Price = $63400
    Res = 57%
    39 Months
    15K miles
    Payment = $849.00

    Can i do better? Is my math correct when i calculate it at a 3.75% money factor. I forgot to ask the dealer but can this be a correct money factor? If not how are they getting to $849 payment and can i get it lower?

    Thanks.
  • My Grandfather leased a 2007 Cadillac Escalade in Jun 06. He now wants to trade it in on a new truck, the lease was for 48 months! My question is what is going to happen once he tries to do this and could he trade the Caddy in and not lease the truck or does he has to lease itI think he wants to buy the truck outright!

    Oh his payment was $795 a month! If curious!
  • Longtom

    If you dont mind can you share the dealership and sales person as would like to get a similar price.

    Thanks
  • Hi longtom. The Escalade that you are interested in likely has a spread of a little over $5,500 between its full MSRP and its dealer invoice price. Add to this the $850 cash incentive that is available on leases of this truck through GMAC and you have a total of $6,350 to play with. You were quoted a discount of just under $4,000. That is probably still more than $2,000 over invoice. If you are in an area that has a decent level of competition, you should be able to better than that. I personally would shoot for a selling price of $500 to $1,000 over invoice. That means another $1,000 to $1,500 off the selling price that you're at now. Furthermore, GM just introduced a special $1,000 President's Day incentive on the '08 Escalade yesterday. That means you might be able to do $2,000 to $2,500 better than this by shopping around.

    Car_man
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  • Greetings cdcruizer05. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, your Grandfather would need to purchase the Escalade that he is currently leasing from the bank that he is leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost him to get out of his lease by comparing its purchase price to its value on the open market at this time. You or he should place a call to the bank that he is leasing his vehicle through to find out its exact price. Once you know exactly how much money it is going to cost him to buy his leased vehicle you need to compare it to its current value on the open market. You can find out approximately what the Escalade is currently worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if he is still on the hook for his remaining lease payments. The difference between the leased vehicle's current value and how much it will cost him to buy it plus any remaining lease payments that he is obligated to pay will be the cost of getting out of the lease right now. You may find that he is better off waiting until you are closer to the scheduled end of his lease to get another new vehicle.

    Car_man
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  • srf2srf2 Posts: 6
    Can anyone tell me the current lease rate and residual value % from GMAC for a 2008 ESV for both 36 and 48 months on the 12K/year lease? Thank you.
  • My husband has secured a loan on a 05 Infiniti b/c he is bent on turning in his recently leased 2008 Toyota Tundra. I think this is a very bad idea & I am uneasy about this. He states that he is "just taking it back to the dealership" like its no problem. Please advise me of any and all repercussions in doing this. I believe that this is going to hurt him in the future and definitely will ruin his already bad credit.
  • kyfdxkyfdx Posts: 27,652
    joey87.. Re-post your question here: General Questions about Leasing Vehicles. More members will see your post in that discussion.

    You should be concerned...

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