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2013 and earlier Cadillac CTS Lease Questions
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I have a great deal offered on a 2009 CTS but I would have to finance it and I am concerned about GM's future status, the value that whatever happens to them may have on the car and the overall stability of the dealership network in the future.
I assume that you do not get the lease directly from US bank (otherwise you would not ask what their true rate is...). I know leasecompare.com has a lease term that they are willing to provide for individual model. May be that will give you another data point of what the market offer from 3rd party lease. I think all you can do is to have mulitple offers and see what is the best monthly payment for you...
If you go to leasecompare.com, you can get some idea of residuals and money factors that they are offering through their banking partners... but, you'll never know the markup on an independent bank lease.
regards,
kyfdx
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White Diamond Paint + Sunroof
Preferred Customer Discount: - $4,725.24
Customer Rebate: - $6,000.00
Selling Price: $30,794.76
Sales Tax (estimate): + $2,272.67
Tag/Registration Fees (estimate): + $335.00
Tire/Battery/MVWEA: + $8.50
Dealer Service Fee: + $599.95
Balance Due (estimate): $34,010.88
LEASE OPTION
Cash Due at Signing $1,855
36 Months @ $499/month
12,000 miles/year
Rebates: $6,000
I also currently have a '07 CTS lease ending in Jan '08.
Is this a good deal or could I do better?
Thanks for any info and help?
Car_man
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I was set to take delivery on a new CTS today. All details had been worked out, price agreed on, etc. The dealership just needed a credit app to get the lease approved. They faxed over a credit app and along with the app is a Privacy Policy form.
The form basically reads that they can take my “Private Information” and disclose it to anyone, including "Marketing Service Providers", "Affiliates" and “Other Third Parties”.
Private Information is defined as info we received through any apps or forms and includes name, address, SOCIAL SECURITY NUMBER and income.
This form is not giving me the option to opt out of this policy. It is merely an acknowledgment of what they can and might do with my information with or without my permission.
The dealer General Manager says no one has ever bitched at this before and that it has never caused a problem. I do not like the idea they may give my SS# out to anyone they want to, even though the Gen Manager says, verbally, they won’t do it.
This really bugs me but am I making a mountain out of a mole hill? I told the GM it was a deat breaker. I asked for a letter saying they won't do this but he said he wasn't going to send me one.
I tried to buy the CTS but I keep running into obstacles. Maybe it's all a sign.
Is GM still cutting back on leasing support like you mentioned a couple of months ago? I was considering leasing a Cadillac CTS AWD but if what you said still holds true, then I'll just stick with my other option, the Infiniti G37x sedan. Thanks.
Sam
If you are set on leasing, you will be much better off going with the Infiniti G37 Sedan.
Car_man
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Vehicle Price: $41,520.00
White Diamond Paint + Sunroof
Preferred Customer Discount: - $4,725.24
Customer Rebate: - $6,000.00
Selling Price: $30,794.76
Looks like a pretty good deal to me. Are those types of deal only available for leasing? Can you get similar deals with purchase? I'd purchase in a heartbeat for similar type of discount. What is everyone's experience?
The rub? They want 24% interest rate for the money factor. I confirmed this with a second dealer.
I've been close a couple of times on Cadillac, but never worked out a deal. This one probably kills my last chance before they become owned by the US Government and the Union. I liked the idea of leasing over purchase because of the long term security of GM. I don't really see how they are going to make it.
There is lease support though. They told me no, there was no offers. I said I just got off of the GM Supplier site at work and they listed incentives. He said no, I pointed to the paper I had with the GM supplier price of the car on their lot and told him in addition to the almost $3K off, there was $7000 of lease incentive. He went back into the room and brought out a bunch of papers. Oh, he said that's for people with a lease. I said no, that's just a lease incentive. I also have a leased vehicle with a end date before 10/31 so that offer is an additional $2K. He shuffled the papers more and found that. Then I said it appears there is a $1K Bonus cash for the GM Supplier people. He found all that and I figured I nailed this one.
So I said, now that we have that, my questions were about the residual and the lease factor. That's when he came back with the 24% interest rate. So I repeated myself knowing GM was given tax bailout money to open up their stores, so surely they wouldn't try to rip us off.
I've only leased once. I do see thought that the support is available even if you use a source for the lease other then GM. I assume in some areas Banks do that?
In January they had a $5K or $7K similar offer on a purchase for people with leases ending XX 2009. I didn't hit that window or I would have bought one then.
I've probably stopped in for the last time as I've tried to deal several times over the years on a Cadillac and never came close to the deals I was able to make with the Toyota's and Ford dealerships.
I guess there are enough people that won't drive anything but a Cadillac that they see no need to get new customers and continue to mess over the existing ones.
Seems like a business model that would put you out of business. Oh wait, it is putting them out of business.
If they recover it will be from Obama giving them my taxes (and my kids and grandkids taxes), not from me purchasing a vehicle.
Can you supply the latest MF and residuals?
I was interested in heading to Cadillac dealer but this type of information may push me back to BMW or Acura....
Car_man
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The discounts are available for a lease, even if GM is not doing the lease according to the website. I just don't see why GM would offer all this money and then turn around and offer a rate no one in their right mind would accept. I would simply say we were not leasing.
When the first dealer told me this, face to face, I asked why would anyone lease a cadillac. He responded some people just have to lease. And I said well I wouldn't think it would be a Cadillac. I walked out.
Bob Trickett Cadillac, Clarksburg WV
Anthony Cadillac, Fairmont WV
In all fairness to them, I don't see this as their fault. At least though Anthony showed some sort of embarassment.
I have dealt with this dealer in the past and this is not a gimmick. However, it applies to only the advertised car, and if they have another car in stock with the same option, but a different color, then the monthly price jumps $100+. I just don't understand why they would be willing to lease one car at that price but not another similarly equipped car. Any thoughts?
Also, based on what I have seen in the postings above, GMAC lease factor is off the charts. However, does anyone know what a private bank would charge and does anyone know if the $7000 rebate (and other rebates) apply in a lease situation where you use an outside lender.
I currently lease an Infiniti and must turn it in on 9/20. I qualify for GMS employee pricing.
I know I get the $7000 rebate. I also believe I qualify for the additional $2000 rebate since I'm currently in a lease that ends before 10/31. Two dealers have told me "NO" to that - I only get up to $7000 total rebate. My gut tells me this is bogus, but I really don't know...
As for the other three rebates... I know I don't qualify for the $1000 owner loyalty rebate, but there is still a $1000 GM Bonus Cash and $1500 Customer Cash rebate. Perhaps these are only for a purchase though??
Any help is appreciated!
Leasing for 60 months is also a risk considering that the basic warranty on the CTS is only 4 years/50K miles. That means that for the last year of your lease (or anytime after you hit 50K miles) you'll be responsible for paying anything that breaks that's not covered by the drivetrain warranty which is 5 years/100K miles.
http://www.edmunds.com/new/2009/cadillac/cts/101001122/standardwarranties.html
Let's say the value of the car at the time of the loss is $30,000. Let's also say that the "balance" left on the lease is $35,000.
I presume the insurance company pays whoever the "owner" is the value of the car, and that they are not concerned with any outstanding financing balances, either conventional or lease. Correct?
So if the lessor (leasing company) gets $30,000 from the insurance company, but is owed $35,000, what do they do about the $5,000 shortfall? Go after the lessee? Using this example, the person leasing the car has come out ahead by not putting any money into a down payment, assuming the leasing company does not come after them.
Conversely, I can see where putting a big chunk of money down might put the balance below the value, and in that case the lessor comes out ahead. I'm presuming the leasing company will not turn around and give the lessee any funds they may have received from the insurance company which exceed the balance due. Correct?
How is any disparity between the value and the balance due handled?
Thanks.
http://www.edmunds.com/advice/finance/articles/105266/article.html
I've never heard of any leases that don't include gap insurance. You shouldn't have to pay extra for it but you should just confirm that it's included in the cost of the lease.
And to answer your second question, you are correct. If you have equity built in the car from making lease payments, the leasing company will not turn around and pay the lessee any funds they may have received from the insurance company which exceeds the balance due.
And for those who don't believe what I said in my previous post that any money you put down on a lease is lost if the car is stolen or totaled, edmunds.com mentions it in the following article on how to spot a good lease.
http://www.edmunds.com/advice/leasing/articles/102826/article.html
GMAC's current base lease rate for a 36 to 39 month lease of a 2009 Cadillac CTS is a very attractive 0.40%. Its special lease rate through US Bank is slightly higher at 0.96%. If you tell me what state you are in, I will gladly tell you which program is available in your area.
When negotiating your lease on the CTS that you are interested in, make sure to take advantage of the $3,000 lease cash that is available on deals through GMAC ($2,750 on US Bank leases).
Car_man
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What is the MF and residual in GA? and available lease cash?
thx
I am in MA, what are new August lease quotes and other incentives?
On top of this special interest rate of practically zero percent, General Motors is providing a $3,000 cash incentive on leases of this car through GMAC.
Car_man
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Car_man
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You can typically use supplier pricing with any incentive. I get employee pricing...but my current BMW lease isnt up until Dec. but $6000 lease cash and employee pricing would be an incredibly low lease price.. :shades:
I received an ad for $3,000 current leasee $.
Could the $6,000 someone posted be that $3k + a $3k Rebate?
What is the residual for 10K, 12K, 15K in DE + PA?
Thanks!
I am in FL and would appreciate the numbers for a CTS lease, 36 mths, 10k or 12k miles. If the 39 mth lease is a better value based on low mileage needs I would be interested to hear your opinion. I have not bought a US make in a long time and I am not looking forward to the endless packages and options menu but suffice it to say a "nicely equipped" car. Coming out of a BMW. Lastly, is there any info on the new CTS crossover styled vehicle.
Your help has been invaluable in the past and I appreciate the service you offer. Thanks.
It looks like any lease savings now is not enough to outweight the constraints of leasing.
A 39 month lease (instead of 36 month) creates a $15-20 lower payment, but then you have 3 more payments and you are shopping for a car in a different time period the next time. If you like shopping in Sept for example, to have a pick of left overs and new model year, you will want a 36 month lease, if you lease.
CTS has lots of options, but most of them are in packages, so you may have to accept some options you don't care for to get options you want. It looks like they are trying to make it simpler for 2010, by having a base car, a luxury version and a performace version. Coming from BMW, you will want the FE2 18" wheel option or maybe even FE3, living in FL.
Car_man
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Car_man
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You should be able to lease through GMAC and take advantage of supplier pricing.
Car_man
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GMAC's current base lease rate and residual value for a 36 month lease of a base 2009 Cadillac CTS with 15,000 miles per year are an attractive 0.40% and an unattractive 36%, respectively.
Car_man
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