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Cadillac STS Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi patrey. GMAC's current base lease rate and residual value for a 39 month lease of a 2007 Cadillac STS V6 with 10,000 miles per year are 3.95% and 59%, respectively. General Motors is currently providing $1,500 lease cash on the 2007 Cadillac STS. Make sure to use this cash to help you to negotiate an attractive capitalized cost for your lease. Also, rumor has it that GM is going to introduce some additional bonus cash on select Cadillac models in the near future to help its dealers clear out inventory that they have had since January or earlier. So you may want to wait a day or two before finalizing any deal. Please feel free to e-mail me or post a reminder for me and I will fill you in on the details of this new promotion when I have them.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi merckx. This is the Cadillac STS Lease Questions discussion. Are you interested in leasing these cars? If so, I am sorry to say that GM is no longer offering leases on 2006 models through GMAC. If you want to lease an '06 STS you will have to do so through an independent bank. As far as the '07 model goes, GM is currently providing $1,500 lease cash on the STS V6 and $1,250 on the STS V8 and STS-V. As I mentioned in my previous post, I suspect that GM will introduce an additional inventory clearance incentive on the STS in the near future. I don't know the exact details of this new promotion yet, but it will probably amount to around $1,500 on units that have been in dealer inventory since the beginning of January or earlier.

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  • merckxmerckx Posts: 565
    ..but this seemed the most active place to discuss price on a new 2006/2007 STS. I'm going to buy one by mid June at the latest, and was wondering what kind of purchasing incentives will be out there later this spring...please post if you hear anything..
  • merckxmerckx Posts: 565
    on 2006s last spring, do you expect that to be repeated with 2007s later this spring?
  • mercassmercass Posts: 3
    Please let me know if this is a Good deal.
    2006 STS, Blue, Luxury Package, Sunroof, AWD, Detroit.
    Don Massey Cadillac, Pontiac.
    24 Months, 10K Miles
    12500 for Employee Pricing - Out of Door
    14500 for Supplier Discount Pricing - Out of Door

    They have a few left to choose from.
    New STS in Late Fall 2007, So should I wait for a better deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi merckx. General Motors is currently providing $2,500 customer cash or 0% financing for up to 5 years on the 2007 Cadillac STS. It has $8,000 customer cash or 0% for up to 5 years on the 2006 STS. There is an additional $1,500 cash incentive on top of the above customer cash for units that have been in dealer inventory since January 5th or earlier, which all '06 and some '07 models would qualify for. If you are the current owner of a non-General Motors product you are eligible for another $1,000 conquest cash incentive. All of these programs, except for the extra $1,500 are scheduled to run through July 9th. While there is no guarantee that it will happen, or even have an impact upon the STS if it does, I personally would not be surprised if GM made an enhancement to its incentives some time in May.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mercass. You were quoted a lease on a 2006 model? I'm surprised. GMAC stopped leasing '06s a while ago. The dealer that you are working with must be running this lease through an independent bank. Have you compared what it would cost to lease a leftover 2007 model with what it would cost to lease a new '07? The residual values are so low on the '06 model at this point that it would not surprise me if it cost around the same, or possibly even less to lease an '07. As far as this specific deal goes, you never mentioned what monthly payment you were quoted so it is difficult for me to give you my opinion on it.

    Car_man
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  • mercassmercass Posts: 3
    Its a one time lease.
    The total amount is 12500 for 24 months paid upfront.
    I enquired with the dealer and he said GMAC is still leasing 06 models. I am not planning to buy it after my lease so would a 12000k or less for 24 month lease upfront a better deal. works out to a 6000$ a yr.
  • orlandofl0orlandofl0 Posts: 3
    Has anyone inquired about the price for the employee lease? I am contacting the local dealer, but wanted to see if anyone else had been quoted the employee price and if there was any additional savings beyond that. Since there is $2500 off on buying would we get a better mf rate?
  • merckxmerckx Posts: 565
    Carman, have you heard anything new about 2007 STS incentives? Your last thought was that they might increase before May ended. I've got 'til June 14th to buy a car, so please keep me posted.
    Many thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi merckx. General Motors did make a number of enhancements to its incentives on select vehicles for Memorial Day that continued through June 4th. Unfortunately, the Cadillac STS was not one of the models that was included in this special enhancement. This car's incentives are basically the same as they were in early May.

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  • leaseman2leaseman2 Posts: 1
    Need 2007 STS monthly lease rate. Terms: 36 months, $0 down, 15,000 miles/year. Car MSRP = $53,070 (V6 with 1SC Package). I have received a monthly quote slightly above $700/month. Good, bad? Thanks.
  • mb6mb6 Posts: 3
    I just put 50,000 miles on my 06 Accord in my new job. Exactly 12 months ago next week I took out a 60 month loan. I now need a bigger car for the road.
    2 questions:
    (1) The best road vehicle? Cadillac STS/DTS, Lincoln Town Car, Chrysler 300c, Lexus 460 or GS330h, or even Toyota Avalon.
    (2) Whatever I get will have 150,000 miles in 3 years….. Should I lease or buy?
  • greatrdgreatrd Posts: 1
    Carman, I got a lease quote for 2007 STS with options of 1SB Luxuary and CF5 sunroof. MRSP 47,885. Terms: 48 months, $100 down, 12,000 miles/year, $540+tax/mo with a supplier voucher. It reflects a $1,500 rebate and a $1,000 conquest rebate. Is it a good deal? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings leaseman2. You never mentioned the selling price of the STS 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 the selling price is.

    For now I can give you an idea of what GMAC's lease program is like for this car. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac STS V6 with 15,000 miles per year are 3.95% and 55%, respectively. When negotiating your lease on this car, make sure to take the $1,500 lease cash that is currently available on it into account.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey mb6. If you put 50,000 miles per year on your vehicles, you will be better off paying cash for or financing your new vehicle than leasing it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi greatrd. If you are purchasing your STS through GM's supplier purchase program, chances are you are getting a good deal on it. It wouldn't be a bad idea to find out the exact selling price that you are being charged for this car, just to make sure it looks good. Also, make sure that the dealer you are working with uses GMAC's base lease rate of 3.95% to calculate your monthly payment.

    Car_man
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  • Hey car_man can you give me the lease data for a 2008 STS. I get GM supplier pricing so I will be a couple of grand less them MRSP. Want to make sure I have the money factor and the residual right. I was looking at 12K miles and 36 months.

    Thanks
  • I leased an 07 CTS but just had a child. For family reasons I'd like to break lease for a Buick Enclave at the same dealer. Would they normally let me do that without a stiff penalty?
  • Hi caddyhova. Congratulations on your new baby! I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. this will probably be the case even though you are interested in getting into another General Motors vehicle. In order for you to get out of your lease, you need to purchase the vehicle that you are currently leasing from the bank that you are 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 you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is 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 you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

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