2013 and earlier Cadillac CTS Lease Questions

CarMan@Edmunds · August 2005

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Cadillac CTS. Thanks.

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sjm4 · November 2005

Hi Carman. Do you have info for the lease money factor and residual for the 2006 Cadillac CTS. Looking for a 12K/36mos lease. Thanks.

CarMan@Edmunds · November 2005

I sure do, sjm4. Here is the information that you are looking for. If you were to lease a 2006 Cadillac CTS through General Motors Acceptance Corp. right now for 36 months with 12,000 miles per year, its base lease rate and residual value should be 3.95% and 54%, respectively. As you can see, GMAC publishes what are known in the industry as 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. When negotiating your lease on this car, make sure to keep in mind that GM is currently providing $1,750 lease cash on it. This money will help you to negotiate an attractive capitalized cost for your lease.

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flwolve · November 2005

I am looking at a 2006 CTS with the sports package which has the 18 inch wheels, spoiler, and a modified grille. The dealer says the invoice is $42K.

I am putting $3K down and receiving around $4300 for a trade-in so I'm putting down around $7,300. The lease offered is $450 per month for 36 months, 12K miles per year. Is this a good deal?

CarMan@Edmunds · November 2005

Hi flwolve. Let me begin by saying that I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your CTS would be exactly the same, regardless of whether you had put a whopping $7,000 down, or had made absolutely no down payment at all. You can still trade in your current vehicle and lease a new one if you want to, just have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a capitalized cost reduction for your lease.

You never mentioned the selling price or MSRP of the car 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 car'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 the deal that you are considering if you let me know what these numbers are.

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flwolve · November 2005

I called the sales person and got all of the numbers. The initial deal for the CTS was as follows

MSRP - $41,240
Selling price - $39,523
Net trade in - $4,100
GM Dollars - $3,000
Lease payment - $450/month

So it includes $7,100 down, but the $7,100 is a noncash outlay so I never feel the pain.

I actually turned this deal down because the TMV price for the car per Edmunds was $39,000 so I told the dealer I wanted an additional $500 of the selling price and he eventually gave in. The new lease payment would have been $435/month. Only problem was when I went down to sign the papers, they had already sold the car. Oh well.

cbuccieri · November 2005

Help! This will be my first lease. I'm doing my homework so I think a lease if right for me. I am looking at a 2006 CTS with MSRP $35080. The dealer is quoting me 36 months/12,000 miles with $0 down payment with payments of $433 monthly (plus sales tax and excise tax) Buyout is $18,943. I have read your other replies and I think this is a reasonable deal. You mention in one of your replies $1750 lease cash from GM. What is this about? Should I be able to negotiate the $35080?

CarMan@Edmunds · December 2005

Thanks for the additional information, flwolve. The GM dollars are a great way to make a down payment on a leased vehicle, but you would be better off having this dealer cut you a check for your trade rather than using the proceeds from it as a capitalized cost reduction for your lease. You are in luck if you haven't leased yet because a couple of days ago GM sweetened its incentives on it. It increased the $500 bonus cash that was available on this car to $1,600 the 2.8L model and $2,100 on the 3.6L model.

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CarMan@Edmunds · December 2005

Greetings cbuccieri. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

The selling prices of leased vehicles are absolutely negotiable. Negotiate as low a price as possible stipulating that you want any available incentives subtracted from it. The current cash incentives that are available on a leased 2006 CTS include $1,750 lease cash plus another $1,600 bonus cash on 2.8L models and $2,100 on 3.6L models, for a total of $3,350 on the 2.8 and $3,850 on the 3.6.

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nkny · December 2005

Hi,

I went to a dealer today and I was told the current leasing deal of the base model is 1250 down plus tax and tags which totals to about 2500 (Idont remember the exact number) and 299.00 per month for 39 months I believe.

Is this a good deal as I really dont know much about leasing.

I was told it expires on 1/3/2006 so I better act fast

Thanks in advance for your help..

Nick in NY

mprogan1 · December 2005

hi...in the market to lease a 2006 2.8 CTS 6 spd manual transmission...the deal that i have worked out has come to a monthly payment of 420.75 with 2500 due at lease inception. I am coming in bare (no trade in)...any information will help..it looks good on paper and GMAC has a great lease program with early buy outs.

mprogan1 · December 2005

i have been driving in the snow all my life rear and front wheel cars...never using snow tires. i just got rid of my 98 lexus gs300..a rear wheel drive automatic with traction control..it was fine in the snow..occasional issues but nothing major. i am looking at another rear whell drive vehicle but this time a manual transmission. does the manual transmission make a big difference when it comes to rear wheel drive in the snow. for the conversation i live in Western Massachusetts where snow start in December and goes thru March,.

CarMan@Edmunds · December 2005

Greetings Nick. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

Make sure to find out the full MSRP and selling price of the CTS that you want from the dealer. The selling prices of leased vehicles are always negotiable, so how good a deal the lease that you were quoted is depends upon how much of a discount you are being given. While GM's current lease program does indeed only run through January 3rd, I don't expect its replacement program to be any less attractive than its current one is. It is difficult to predict exactly what automakers' future lease and incentive programs will be like, but I suspect that the salesperson who you were dealing with was trying to create a false sense of urgency to get you to purchase your new vehicle ASAP.

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policelady · January 2006

Here is my leasing experience:
2002 Chevy Impala for trade-in...owed 19,000.00 and was given 11,000.00 in trade. Was told that I was 9000 negative equity from previous car deals. Lease dealer said in order to hide negative equity, they would need 1500.00 down, my vehicle and would give me a 2005 CTS new with sticker price 34,000.00 and my payments end up being 625.00 a month. What happen to me? good or bad?

CarMan@Edmunds · January 2006

Hi policelady. I am sorry to hear that you are so upside down on your current vehicle. You probably don't need me to tell you this, but you would be much better off waiting until you are leas upside down to get a new vehicle. Having said this, I would be happy to give you my opinion on this deal, but you never mentioned the selling price of the car 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. Let me know the selling price and I'll tell you what I think.

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gritter · March 2006

hi carman i went to a cadillac dealer yesterday and was quoted on a 2.8 liter auto cts as 2639 down and 299.99 a month lease 10k a year 36 month lease. I see above me they recently ran a special for 1250 down. Do you know if they'll be running a special like that again any time soon?

gritter · March 2006

msro is 31,190 thought id add that

dolsey01 · March 2006

Car_man,

Can you post the money factor and residual value for a 2.8L 2006 CTS, or the GM equivilent for a 36/15K lease.

Much Appreciated!!!

CarMan@Edmunds · April 2006

Hi gritter. The most recent advertised lease that I have seen for the 2006 Cadillac CTS 2.8 is $299 per month with a little over $1,500 down. Having said this, like most manufacturers' advertised lease payments, I suspect that this one leaves a little meat on the bone and can be beaten by a smart shopper who lives in an area where there is a decent level of competition. I would be happy to use GMAC's actual lease program for this car to work up a sample lease payment on it for you if you provide me with its full MSRP and selling price.

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CarMan@Edmunds · April 2006

Here you go, dolsey01. If you were to lease a 2006 Cadillac CTS 2.8L through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.95% and 51%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

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sandbox · April 2006

I was offered:
CTS 2.8L
MSRP $31,190
Sale Price $28,500
$2000.00 Down
Lease Rate: 4.95% Residual 53%
10,000 Miles/36 month
Monthly Payment comes out to be $435 and change.

I know the lease rate's kind of high. Is the sale price high? How are people getting to $299/Month? Are my numbers really off?

CarMan@Edmunds · April 2006

Hi sandbox. It is difficult for me to say exactly how much over invoice this car's selling price is, but making an educated guess I'd say that you are at around $1,000 over invoice or so once the $1,800 lease cash that GM is providing on this car right now is taken into account. If you are in an area where there is a decent level of competition for your business, you may be able to beat this price by a few hundred dollars.

Let's use GM's current lease program to estimate what this car's lease payment should be. According to my calculations, if you were to lease a 2006 Cadillac CTS 2.8 with an MSRP of $31,190 and a selling price of $28,500 through GMAC right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $360 or so. The payment that you were quoted looks a little high to me. Make sure that the dealer you are working with is taking the $1,800 lease cash into account and is using GMAC's current base lease rate of 3.95% to calculate your car's lease payment.

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yank_fan · April 2006

I am working on the following lease deal
2006 CTS, 3.6L, White Diamond, Sunroof

MSRP - $36,085
Invoice - $$34,052
Supplier Price $33,952
Rebate - $2,000
My Price - $31,952
I am looking at putting $3,000 down / Payments $386 per month plus tax. Car Man or any out there, what is your take on this deal? Thanks

CarMan@Edmunds · April 2006

Hi yank_fan. The fact that you are able to get this car through GM's Supplier Purchase Program means that you are getting a good deal on its selling price. The only thing that I would change about this deal is the down payment that you are considering making. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your CTS would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

For a point of reference, I'll work up a zero down lease payment on this car for you. According to my calculations, if you were to lease a 2006 Cadillac CTS 3.6L with an MSRP of $36,085 and a selling price of $34,052 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $484.

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yank_fan · April 2006

Car_man - Thanks for the advice. yank_fan

waltkan · April 2006

Car_man(or anyone),
I would really appreciate your input on the following:
I'm working on a lease deal for a 2006 CTS.
Here are the 2 options they are giving me.

MSRP:33,890
Selling: 30,846 (including $2k rebate)
39 Mo 12k miles Resid: 53%
48 Mo 12k miles Resid: 45%
APR: 4.95%
Local Tax: 7%

39mo=$491
48mo=$474

I see from previous posts that 3.95% is the GMAC rate. I asked the dealers finance guy about this and he claimed "they get a point" on lease deals. These monthly payments look a little higher than I expected after using the GMAC calculator on their site.

Another question regarding these offers, would I better off going with the 39 or 48? Does it depend on if I plan on purchasing the car at the end of the lease period?

Thanks!

jedjrcpa · April 2006

Don't know if you have pulled the trigger on this deal yet, however, I do agree with Car Man as far as the down payment. To put it another way, the rule of thumb is for every 1K you put down you will be reducing your lease payment by approximately $30. Based on what Car Man recalculated, your payment would go up $90. What I have done on my last few leases, is put the down payment amount in my checking account and draw against it each month for my car payment.

mgro · May 2006

Hello:

does anyone know if the 3.95% rate and 51% residual offer is still valid in May and if so when it is scheduled to expire. Also, is there any lease cash available on the 2.8L CTS. Thanks

mywave · May 2006

Car_man et, all does anyone know the residuals and M.F.s for an 06 CTS-V? I would like to do a two year lease.

Thanks

CarMan@Edmunds · May 2006

No problem, yank_fan.

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CarMan@Edmunds · May 2006

Hi waltkan. The only thing that dealers "get" is what you let them get. GM dealers are allowed to mark cars' lease rates up, but smart shoppers who know what the base lease rate should be for the car that you want can avoid this. Make sure that your lease is calculated using the 3.95%. GM dealers need all the business that they can get, so this dealer will probably back down if given the choice between using the base rate and losing the sale. GMAC's lease rate is the same for both 36 and 48 month leases, so it doesn't really matter which term you choose. Generally speaking, longer leases tend to have lower monthly payments than short ones, but you are locked into your car for a longer period of time.

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CarMan@Edmunds · May 2006

Hello mgro. The lease money factor and residual value that you posted are still available in May. They are currently scheduled to run all the way through July 5th. General Motors is currently providing $1,800 lease cash on CTS 2.8L models.

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CarMan@Edmunds · May 2006

Hi mywave. If you were to lease a 2006 Cadillac CTS-V through GMAC right now for 24 months with 15,000 miles per year, its base lease rate and residual value should be 3.95% and 63%, respectively. When negotiating your lease on this car, make sure to take the $1,600 lease cash that General Motors is currently providing on it into account. It will help you to negotiate an attractive capitalized cost.

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waltkan · May 2006

Thanks for the info re: base rates. I'm glad I waited to hear from you before signing anything.

taylormade2 · May 2006

I'm currently looking at a base 2.8L at $31,190. We qualify for GM employing pricing that is 4% below invoice. This brings the car down to about $28,290.

We have the $1800 GM rebate and another $1000 for GM employee certificate.

The negative side is negative equity from our current car of $6000.

With 12,000 miles for 39months, the payment would be $446 before taxes with $3000 down. 4.95%. 53% Residual.

The current lease offer is $299/mo for 39mo with $3400 down.

I believe that the $446 with $3000 down is higher that it should be even with the negative equity. It seems that with the GM discount, we should be able to do $299/mo with $500 down (-$2900). Then in regards to the $6000 negative equity, that would be $5000 with the certificate. As I understand it, about every $1000 adds about $30 per month to the payment, therefore, should we be at about $450/mo. with $500 down?

Thanks!

claden · May 2006

Car Man,

I am considering leasing a 2006 CTS and wanted to know, if the $2000 lease cash is in lieu of or on top of the $3000 Manufacturer to Dealer Incentive (Marketing Support) that is utilized to determine the TMV on Edmunds.com? Also, could you please indicate what the current lease rates and residuals are for the CTS 3.6L for both 36 and 39 month at both 15,000 and 18,000 miles. Thanks in advance for your help.

waltkan · June 2006

Not sure if this helps but the dealer I'm working with told me the 3k is only available on purchases. The 2k cap reduction is what is available on leases. Now whether or not they are telling me the truth maybe Car Man can verify.

Walter

claden · June 2006

Walter - Thanks for the input, that is what the dealer told me as well, but as you I was skeptical as whether that was an accurate statement.

Since my last post, here is the deal I currently have in works for a CTS 3.6L automatic with Luxury Package, Sunroof, and 17 inch Sport Package:

MSRP: 38,280
Sale Price: 35,500
Lease Cash: 2,000
Add'l Rebate: 1,000 (some sort of employee certificate)
Term: 39 mths
Miles: 15,000 per year
Residual: 50% (pushing for 51% waiting for CarMan to verify)
Lease Rate: 3.95%
Based on my calculations: $495.52 mth including TTL.
I have a trade-in worth $6,500 which based on Car Man's advice I am going to put in a money market account and draw on for my payments.
Total payment 316.06 mth including TTL,after $179.46 per mth payment from trade-in account.

How do these numbers look? Does anyone, including Car Man, think I can a better deal or should I take this? Thanks in advance for any input.

Christian

rtimm · June 2006

Qutoing Car_man

Let's use GM's current lease program to estimate what this car's lease payment should be. According to my calculations, if you were to lease a 2006 Cadillac CTS 2.8 with an MSRP of $31,190 and a selling price of $28,500 through GMAC right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment should be around $360 or so. The payment that you were quoted looks a little high to me. Make sure that the dealer you are working with is taking the $1,800 lease cash into account and is using GMAC's current base lease rate of 3.95% to calculate your car's lease payment.

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Can anyone tell me if this quote above includes GM discount? I qualify for GMS and retiree certificate can someone give me a 12,000 mile 36 or 39 month lease quote with 0 down (Just the retiree certificate and any incentives)

My Goal which may not be possible is to walk into a dealership with 0 cash in hand and leave with a CTS for <350 p/month

Thanks

CarMan@Edmunds · June 2006

You're very welcome, waltkan.

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CarMan@Edmunds · June 2006

That is a very good question, claden. I do not believe that the $3,000 dealer cash is compatible with GMAC's lease program for this car, but I am not positive. As far as its current lease program goes, if you were to lease a 2006 Cadillac CTS 3.6L through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.95% and 51%, respectively. 15,000 miles per year is the highest mileage allowance that GMAC publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.

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CarMan@Edmunds · June 2006

Hi Christian. This sounds like a very good deal to me. Don't bother pushing for a higher residual value for your car, individual dealers do not have the authority to alter banks' residuals. If you like the CTS, I personally don't see any reason not to pull the trigger on this deal.

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CarMan@Edmunds · June 2006

Hi rtimm. I would be happy to estimate what the monthly payment should be for the exact car that you are interested in. However, in order for me to do so I need you to provide me with its MSRP and selling price. If you qualify for its employee purchase program, you should be able to find this informaiton by logging in to the following site: GM Family First.

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chiefrjw · June 2006

I found a CTS here in Austin that was one of several loaner cars at a golf classic for $0 down + TTL and $298 a month for 39 months. The MSRP is $31998. I am going to try to see one of them this afternoon. Sounds good but who knows?

bigjohntx · June 2006

Could anyone tell me where I might be able to find a lease for a CTS for under 320 a month with 0 money down. I just returned from a deployment and am looking to replace my 12 year old car. Any help from anyone more knowledgable than myself would be greatly appreciated...I am in the San Antonio TX area.

waltkan · June 2006

I posted this in another thread and this is for a purchase not lease but I thought I could get some feedback from this discussion also: I would appreciate any feedback/opinions on this deal I'm working on:

2006 3.6L Black CTS Ebony Int.
w/Auto Trans, Luxury Pkg, Sunroof, Upgraded Sound System

MSRP 38,190

This is a Dealer Demo with 3700 miles on it, sold as new so XM and OnStar etc. are included.

They are offering this car at $31990.
Edmunds TMV for this car brand new is $33,494.

One other thing I have to consider is that this is an internet deal and I would have to fly to the city and drive back home, around 500 miles. They did say they would do "something" to help with the airfare.

So what do you guys think? Any and all opinions are welcome. Thanks in Advance!

Walt

mlc482 · June 2006

Hello...

I have been looking at the Cadillac CTS over the past 6 months, but I am now for sure looking to buy in the near future. I know that I passed up the Season's Best discounts this past winter, but I was wondering if the GM adjusted MSRP's are still in effect.

I also saw some advertizing from the Tri-State Cadillac Dealers on their website. I live in New Jersey.

If you are a current non-GM lessee, we'll cover up to four remaining payments or up to $2,000 when you purchase or lease a select new and unused 2006 Cadillac vehicle.*

I have no idea what that means...I am not a current GM owner, so do I get $2000?

Anyways, I am looking at a CTS 3.6 Infrared Automatic.

MSRP: $34885.00

What figures should I be expecting? I would want to put 2,000 down and be in the mid 300's for the monthly payment on a 39 month term, preferably a 12K lease.

Am I in the right ballpark?

Thanks for your help.

cpbnb · June 2006

Hello Car Man. I am looking at a 2006 CTS 3.6 sticker at $38,320 hoping you can run the numbers at 10k a year and 39 months. I live in SW Florida and will take the trade advise and have them cut a check back .Thanks in advance.
Pete

CarMan@Edmunds · July 2006

Yes, mlc482, the MSRPs that General Motors lowered a few months ago are still available. I believe that the advertisement that you saw means that if you are currently leasing a non-GM vehicle you are eligible to have GM pay your finally four monthly payments for you (up to a maximum total of $2,000). Unfortunately, this offer doesn't mean that you can just use the two grand to reduce your vehicle's selling price. I would be happy to give you an idea of what sort of lease payment you can expect on this car right now. It would be helpful if you were able to provide me with an approximate selling price for it though. You may be able to get an idea of how much you should pay by visiting the following discussion: "Cadillac CTS: Prices Paid & Buying Experience". If not, then just provide me with its dealer invoice price and I will run some payments for you.

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CarMan@Edmunds · July 2006

Hello Pete. If you were to lease a 2006 Cadillac CTS 3.6 through General Motors Acceptance Corp. right now for 36 months with 12,000 miles per year, its base lease rate and residual value should be 3.95% and 54%, respectively. If you provide me with an approximate selling price for this car, I can tell you what its monthly payment should be like.

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cpbnb · July 2006

Thanks Car Man. I can buy at invoice $37,236 msrp is $40,075 10 k per year at 55% and 3.95 39 months. I also have a trade thats got $3,000 equity to put down and there is also a $2,000 dealer cash or rebate. Thanks in advance
Pete

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