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2013 and earlier Cadillac CTS Lease Questions
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Car_man
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Is this a good deal for me?
06 CTS 3.8 sport
39 month
12k
sticker $40,060, sale $36k and change
$0 down, taxes rolled in (8.5%)
$3000 in rebates
$492 month
Thanks.
Car_man
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Car_man
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Car_man
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Here is teh offer I got for a 2006 CTS 3.6L Auto trans demo car with 3k miles on it
Selling price: $30900
Residual value: $18011
Monthly payment: $299 + 7.75% tax in IL
Cap cost reduction: $2899
Milage allowance: 12K
Lease : 39 Months
Please tell me if this is the good deal or not
I am looking to take advantage of the $299/mo, 39 mos., $0 down, $1939 at signing listed here at Edmunds.com but I can't figure out if I'm eligible with my credit score, which was 626 a month ago. How would this offer be affected by a mid-tier credit score like mine?
2006 Cadillac CTS
4dr Sedan (2.8L 6cyl 6M)
$33,635 MSRP (Edmunds shows $32,390)
$31,800 invoice (Edmunds shows $30,080)
39 months
3.95% base lease rate
.53 Residual = $17,826.55
Cost reduction -$2,800 (Edmunds shows -$3,000)
Administrative fee "charged by GMAC" $780
All for $32,678 (he says it's invoice + administrative fee + $500 + his cost of sending a driver to get the car from another dealership).
Is he lying about the MSRP and invoice here? I understand these things can change, and he said that this car is >200 days old so has the "older MSRP". I am willing to give him $500 but only if he is giving me accurate information in regards to MSRP, invoice, and that the administrative fee is really charged by GMAC.
M82 5-Speed Shiftable Automatic Transmission ($1,200 MSRP, $996 invoice)
CF5 Power Glass Sunroof w/Express Open ($1,200 MSRP, $996 invoice)
Any idea what the dealer incentive and Residuals would be for a 2005 CTS. I would like to do a 39 or 48 month with 15,000 miles. A local dealer has a new 2005 CTS with Sport package and Auto Trans. MSRP is 42,000. I am hoping to get about 10,000 off MSRP, maybe more. Nobody was there tonight, gonna go back tomorrow to try to deal.
Car_man
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It appears that GM is offering $4000 customer cash on all 2006 CTS-V's. How much of that customer cash is eligible to be used if I lease the vehicle? Also, what are the August lease rates(money factor, residual) on 2006 CTS-V for 24 and 36 months for 12K and 15K miles per year. Thanks.
I am looking for the same information on the CTS-V. Thanks again.
Is it true that gmac REQUIRES a drive off? What is the best way to lease a CTS for $299/mo with $0 down...do you think that's possible or way off course?
Here is the response from the dealership when I inquired about leasing a black 2006:
OK I have one 06CTS blk on blk sunroof,luxury pkge 6cd,navigation, manager demo
3 year lease
1500 drive off
376 + tax = 407
its a Great Deal below invoice
if not would you like a 2007 but it would be much more
im trying to help
Car_man
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Car_man
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Car_man
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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
Car_man
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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
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Car_man
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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
the price was $29,500 + 595 gmac admin fee. please let me know what you think.
caddyhova
Car_man
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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?
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...
Car_man
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Also, where could I find the current lease cash, bonus cash, base lease rate and residual value for a 2007 3.8L CTS?
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.
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