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Cadillac SRX Lease Questions

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  • isla_guyisla_guy Posts: 4
    Sand529. Yesterday I leased an new late model,07SRX V-6 with only the Y45 option, Utility Pak in(BLK/Chas). I was happy with my deal. MSRP was $39,470 total (car+$1500 option and $745 delivery. I paid total out of pocket $1540 total (inception) on a Credit Card and exactly $425/mo (incl. tax of 7.5%) for a 39 mo @10K miles/yr, ultra low milage lease. I recall the residual to be ~56% with a 3.95% money cost. My insurance is State Farm and my coverages are 100/300/100 (lia) plus full w/$500 deduc, paying $409 every 6 mo. This includes all rebates and GM discounts($3325). Good Luck. My dealer was excellent! Very satisfied
  • bonwhbonwh Posts: 1
    Edscar - Could you please post the name of the dealership in Tampa that you leased with? I live in the Orlando area and the offer I was given did not compare. I am more than willing to make a short trip for a fair deal.
    Thanks.
  • edscarsedscars Posts: 3
    sure - http://www.edmorsecadillactampa.com/en_US/
    note they have nice inventory without rear "utility" seats. good luck
  • heytrayheytray Posts: 14
    I picked it up today. Here's my deal. I have a Black on Black V-8, Third row, Rear entertaiment, Navigation,magnetic ride control.MSRP $52,085. I paid straight invoive minus $2250. No conquest this month in my area. I have a 39 month lease 12,000 miles 3.95% interest. Down payment was Taxes, title, first month payment. My deal $611 month. I had great customer service, my dealer had to order the car because I wanted magnetic ride but not AWD. I am happy with the dealer which I drove 200 miles to get to from southern Va. to northern Va. (Lindsay Cadillac) :)
  • karldkarld Posts: 5
    I heard that on Car and Driver that the cadillac SRX was was no longer going to be produced after they release 2008 model. Any word out there???
  • karldkarld Posts: 5
    Car and driver said that the last producetion of the cadillac SRX was stopping after the 2008 model is released. Any word out there on this???? Dealer said no.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey edscars. You never mentioned the selling price or MSRP of the SRX that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow, garyking, that was quite an intro line to your post :blush: . As usual, the fact that you qualify for GM Employee pricing puts you in a good position when getting your new SRX because you will be able to get a great selling price without having to haggle. Let's take a look at this truck's current lease program. According to the latest information that I have seen, GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac SRX V6 with 15,000 miles per year are 3.95% and 52%. It should be automatically included in an employee deal, but double check to make sure that the $2,250 lease cash that GM is currently providing on this truck is being taken into account on your deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey isla_guy. The lease cash and conquest incentives that you mentioned are scheduled to run through July 9th, so you have plenty of time.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi again isla_guy. In your post you mentioned what this truck's dealer invoice price is, but never specifically said what its selling price is. If you tell me what the selling price is I would be happy to let you know what I think of this deal.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you find this discussion so helpful, SteveF5. You mentioned what this truck's MSRP and dealer invoice price are in your post, but never mentioned the specific selling price was used to calculate the lease that you were quoted. This is a very important number to find out. It will show you if there is any room left to negotiate on your deal. Let me know what the selling price is and I will tell you what I think.

    Here's the lease program info that you're looking for. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac SRX V8 with 15,000 miles per year are 3.95% and 53%, respectively. The lease rate for an otherwise identical 39 month lease would be the same, but its residual value would be 52%. When negotiating your lease on this deal, make sure to take the $2,250 lease cash and $1,000 conquest cash for current owners and lessees of non-GM vehicles into account. They will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the info that you're looking for, sand529. This truck's lease program varies by term and mileage allowance. 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 SRX V6 with 15,000 miles per year are 3.95% and 52%, respectively. The lease rate for an otherwise identical lease of an '07 SRX V8 would be the same, but the residual value would be 52%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new SRX, heytray. Thanks for taking the time to share the details of your deal with everyone. It sounds like you got a very good deal. Enjoy your new ride :) .

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi karld. I haven't heard that GM is going to stop producing the SRX after the 2008 model year, but that does not necessarily mean that it won't happen. Try stopping by the following discussion to see if anyone there has heard this rumor: "Cadillac SRX".

    Car_man
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  • fletch58fletch58 Posts: 19
    Hi,

    Been a while since I leased. the interest rate has me confused as I did it with money factor last time.

    Also, what would be a good deal on a SRX , purchase price around $43,000, 36 months, 15,000 miles per year with total out of pocket of $2500

    Please resond asap, I don't trust myself

    Thanks
    Jack
  • goodtogogoodtogo Posts: 5
    Are the lease rates and residual values significantly different for a 24mos/12,000 mile per year lease deal on a 2007 V-8 SRX?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Jack. As you have seen, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. For example, its 3.95% lease rate for the 2007 Cadillac SRX would be equivalent to a money factor of around .00165. I would be happy to use GMAC's current lease program to estimate what your monthly payment would be on the SRX that you are interested in. I just need you to provide me with its full MSRP first. Both the MSRP and selling price are necessary when calculating lease payments.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey goodtogo. GMAC's current base lease rate and residual value for a 24 month lease of a 2007 Cadillac SRX V8 with 12,000 miles per year are 3.95% and 65%, respectively.

    Car_man
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  • janda1010janda1010 Posts: 5
    Carman,
    one of my local dealers "cant find" all the lease cash and conquest incentive. Where can I politly direct them to look? A different dealership was upfront with the rebates but does not have the car I want in stock. I also get GMS discount, any advice?
  • shfawazshfawaz Posts: 16
    I was told by a dealer in Fort Lauderdale FL that the current offers on the SRX are 3.95%, 66% residual for a 10,000 mile/year 2 year lease, and $3,325 in cap cost reductions. For a $45,155 MSRP and a GMS price of 40,319, my payment would come to $435.65 plus 6% Florida sales tax. The dealer broke down the cap cost reduction to $2,250 and $1,075. My question is whether or not the $1075 is conquest cash or additional money from GM? If it is not conquest cash, is the $1,000 conquest cash still available in the Miami/South Florida market? I assume this can be added to the cap cost reduction for a lower payment.
  • janda1010janda1010 Posts: 5
    I was told that the conquest cash can not be combined with gms pricing?
  • smokiejoesmokiejoe Posts: 26
    Not at a dealer I talked to in PA.
    I believe $1,000 off if you have a non GM Vehicle + GMS Price + $2,000 Rebate.
  • shfawazshfawaz Posts: 16
    So is this thousand dollars conquest in addition to the $3325 cap cost reduction already provided or is it part of it?
  • janda1010janda1010 Posts: 5
    Any info on the dates the lease cash is good till? I thought with GMS the dealer was required to give me all available incentives, but i think they are trying to hold back the rebate. Would they get it then? Maybe they truly dont know!(yeah, I am naive) Does any one know where I can find something official to bring in to show I should get the lease cash, rebate and GMS? I didnt see it on the GM web site. Jeannie Jacksonville Fl
  • shfawazshfawaz Posts: 16
    Current SRX incentives and SRX lease cash is good thru July 9, 2007. Definitely $3325 should be deducted from the GMS price to come to your adjusted cap cost. Some dealers will hold back and they are only required to give you GMS pricing, any incentives out there are up to you to persue. If you don't ask, they don't have to tell, resulting in a higher monthly payment. Unfortunately there isn't anything published anywhere that verifies this, you just have to tell them and do your own calculation based on the info here to figure out if they are giving you all the incentives and rebates you are entitled to. If not, go elsewhere. The dealer knows, they're hoping you don't.
  • bodidbodid Posts: 87
    Anyone getting the SRX at or below invoice before the 3325. incentives and lease cash? Carman, what is the MF and residuals for 12K/15 and 36 month leases?
  • edscarsedscars Posts: 3
    Hey car_man, sorry for the delay as I never saw your post (even though I am signed up for e-mail alerts - odd). Thanks for the response. The MSRP on the vehicle is $47,595. THANKS!
  • jtpcpajtpcpa Posts: 2
    I am expecting to lease a 2007 SRX before the July 9th end of the spring promotion. As the 2008 models are now shipping would it be unreasonable to expect discounting of the cap cost below invoice. I understand that I am already good for $3250 of factory money in the form of conquest cash and rebate. I have in mind a Base V6 RWD in Thunder Gray with the Y45 Utility Package. MSRP $40,465, Invoice $37,621, less incentives of $3,250 and less discount below invoice of maybe $1,000 for a cap cost of $33,371. Is this realistic?

    Regarding the utility package, I don't want or need the third row but may want the towing capacity in the future. I hate the way Cadillac bundles the SRX options.
  • a6_to_m35a6_to_m35 Posts: 43
    Anyone have the post-July 9th cash incentives and lease numbers for the 2007 SRX.

    It would be much appreciated!

    Can we do better than:

    Invoice deal minus $3250 cash (dealer cash + conquest cash).
    .00165 money factor.
    65% residual for 12k 24 months or 63% for 15k.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi janda1010. A dealership that can't figure out what incentives are currently available on a vehicle is either completely incompetent or is just pretending not to be able to so that they can pocket the money. In July, General Motors definitely has $1,750 lease cash plus $1,000 conquest cash on the 2007 Cadillac SRX. I'm not sure were you can find a reference to these incentives on line, but trust me they definitely exist. I would think that you are automatically entitled to any available cash incentives when you purchase through the GMS program. If this dealer continues to deny their existence, they are just playing games with you and you would be better off taking your business elsewhere.

    Car_man
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