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Cadillac SRX Lease Questions

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Comments

  • That looks good. Yours is a little less MSRP, but it is the ballpark.
  • ericzoomericzoom Posts: 213
    I'm still debating it. The dealer keeps calling me on it. Yours sounds like a better deal than mine. I don't know if the incentives are better
    in Ohio than in Florida. Have u gone ahead with the offer?
  • I gave them $500 and they will hold the car until Dec. 31. If I don't do it, I'm out the $$. I am 99% sure. I can't find anything better. I had one dealer offer $ 459/mo for the same car.
  • ericzoomericzoom Posts: 213
    I really don't want to give them any holding money. I figure the deal will be there at least for a little while. These vehicles don't seem to be flying off the lot. I also have a little time to kill, because i'm returning another GM van on a pull ahead lease. I feel to seal the deal in my case, i want to pay $400 a month including tax, with 1900 down. Does your $1500 down payment include 1st months and all other fees?
    Mine does.
  • Yes, my $1500 includes first month of $410, tax, and, I think, license, title, etc.
  • Hey smokiejoe. GMAC's current base lease rate and residual value for a 39 month lease of a 2008 Cadillac SRX V6 with 12,000 miles per year are 4.0% and 51%, respectively. GM is providing $1,000 bonus cash plus $1,450 lease cash on this vehicle right now. The $1,000 conquest cash that you mentioned can be combined with these cash allowances, but I believe that it is only available to residents of GM's northeast region.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi harry1943. The SRX that you are interested in probably has a spread of a little over $3,200 between its full MSRP and its dealer invoice price. Add to this the $1,000 bonus cash and $1,450 lease cash that General Motors is providing on this model right now and you have a total of around $5,600 to play with. It looks as though the selling price that you were quoted is at right around dealer invoice minus the available cash incentives. That is a very good deal. Just make sure that the dealer you are working with uses GMAC's current base lease rate of 4.0% to calculate your monthly payment and you're in business.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi ericzoom. The SRX that you are interested in probably has a spread of around $2,800 between its full MSRP and its dealer invoice price. Add to this the $1,000 bonus cash and $1,450 lease cash and you have a total of around $5,250 to play with during your negotiations. It appears as though the selling price that you were quoted for this vehicle is around $1,000 over invoice. This isn't bad, but it is not as good as the deal that the previous posted mentioned. If you are in an area that has a decent level of competition, you might be able to shave another couple hundred dollars off of this vehicle's selling price. Once you arrive at a price that you are happy with, make sure that the dealer uses GMAC's current base lease rate of 4.0% to calculate your monthly payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ericzoomericzoom Posts: 213
    Took the plunge on Monday.

    Final numbers - 39 month / 10k miles yr. lease.

    $ 1,639 down - includes 1st month and all other BS fees. Nothing else
    out of pocket.

    38 payments - $399 month. :surprise:

    2008 SRX - RWD, Black with Utility package.
  • Congrats!! It sounds like you did well! I'll pick mine up next week.
  • car_man, thanks for the info. I think the rate on the lease will be between 3.5% and 4.5%. The salesman will get back to me. I'm picking up my SRX next week.
    Thanks again for your input! I am happy with my deal. I currently lease a 2004 ML 350 and the SRX has more equipment and is a very nice ride!
  • ericzoomericzoom Posts: 213
    Thanks. Good luck to u too. It sounds like your deal is even better than mine, considering you would be getting the Lux. package which is about 2500 more than the utility package.
    I also had the 1639 dollar points built up on my GM card, which is what i used, so in essence it meant no out of pocket cash layout. :)
  • Thanks Car Man:

    I have Factory ordered a vehicle, (its built and on a Rail Car right now) and when working out the lease payments per your information posted, I look like I have a better deal. Also my dealer offered a 48 month 12K per yr. lease at a decent amount lower than the 39 month, so I went forward with the deal.
    I have compared this vehicle to many other luxury vehicles out there and could not touch the deal that I worked out.
    MDX, FX35, X3, MKX, RX350 all were $5K to $10K more dollars on overall deal with payments and out of pocket cash.
  • ericzoomericzoom Posts: 213
    I didn't even think you can order a vehicle anymore, especially for a lease. They usually want to deal from stock. Of course the lease payment will be lower with a longer term.
  • Dealers will usually guide you to a stock or a "locate vehicle", but if you are a non-conformist and persistant they will order you a vehicle.
    Also I wanted a little different option combination on an SRX Sport package vehicle.
    I knew they could not locate one. I also won't have to pay any extra floor plan inventory costs..
  • ericzoomericzoom Posts: 213
    I thought the incentives on this vehicle were based upon in stock ones only. The dealers usually want to get rid of the vehicles left on the lot, because they are paying for them.
    I'm curious what kind of deal there giving you. How much of a down payment do they want?
  • When you get (6) Cad dealers bidding against themselves, also the car is not killing them on the Sales figures, you can try to run the numbers down.
    Putting about $800 down. 1st month payment and a few extra bucks.
    Deal is in the high 4's. MSRP around $47K
    The goal is to try and get them to dive into their holdback.
  • ericzoomericzoom Posts: 213
    So with your $800 down, 1st month, and a few extras yr probably around the same as what i gave them.
    I agree the SRX hasn't been flying off the lot, so the dealers are bidding against each other pretty aggessively. At least it's a good time of the year to be dealing for a new vehicle.
  • 2008 SRX, v6, awd, 39 month lease, 15k miles,
    w/ 3rows, sports, preminum luxury, utility, navigation, sunroof.
    0 down. $1,550 out of pocket(tax, 1st month, etc)
    msrp 50k, invoice 46k, my magic # 44k!
    $620 month
    I got it today.
    What do you guys think? :)
  • Just bought a beautiful 2008 AWD SRX in white at Gold Coast in NJ. MSRP $52,000. I haven't purchased a domestic car in over 25 years and the process was strange. I got $3400 in total rebates and put down about $2000 total out of pocket for a 39 month 15K lease for $640 per month including tax. I think I did OK. If I bounced to a few dealers I may have saved a few dollars. This is a local dealer that had exactly what I was looking for. Its only 3 days old and I love it. I hope it holds up well, I have had 3 Lexus vehicles in a row and they were always perfect. There was something about this car that made me buy it.The only current concern I have is the gas mileage has not been close to the estimated mileage.
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