Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
2013 and Earlier Cadillac SRX Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
The 48 month lease would be $526.20/mo (tax inclu). Due @ signing $1872.20.
Any thoughts on this deal? ?
By the way, do you know if an $895 lease acquisition fee is standard for Cadillac? My understanding was that GMAC was only in the $595-$695 range. This seems high.
can you give me the latest numbers on srx lease deal please?
on a 2010 Cadillac SRX with the following options:
1. Luxury package
2. Premium paint ($1000 option)
3. FWD
* $2400 down (including first month payment)
* 39 months (shouldn't go over 48 months; why go higher as you'll be out of bumper to bumper warranty)
* 12,000 miles per year
* about $475/month (not including taxes)
Note: there are no other expenses that you should have. Moreover, you should receive $500 back at the end of the lease which is a GMAC escrow with-holding.
Now, a few things to consider:
Lease options:
____ months
____ miles per year
$___ down (including all fees and first month payment); no drive-off fees
$___ to be held in escrow until end of lease
monthly payment $___ (including tax $___ at ___% tax)
Early termination fee: $ ___ (if you want to buy it before lease expires
Wear and tear allowance: $ ___
Residual Value (end of lease buy price/no disposition fees): $ ___ (plus $2500 can be added to buy option by GM)
Close ended lease ONLY (this means they can't modify the buy out price if the market shifts and the value of the car drops
includes gap payment/insurance: included with all GMAC leases
We were lucky to find a great dealer (Hennessy Cadillac in Ga). They offered us a vehicle that was used as a demo (had about 2500 miles and was fully loaded including DVD and NAV). We got an excellent price that NO ONE could even come close to; I will not post the price as it's not a common thing that can be obtained from all dealers.
I was very impressed with their professionalism (as some dealers were very pushy and demonstrated poor knowledge of their product). So, I am giving them a plug here.
Hope my wife enjoys it.
FWD Luxury in Platinum Ice
MSRP $39,230
$1,800 due @ signing (1st+acq+fees)
No Additional Cap Cost reduction other than GM Conquest incentives
Mo. Pmt $503 includes 7% NJ tax
I too went with the 39 mo / !2,000 mi/yr
I think I did ok. The dealer 5 min. away wouldn't come close to the price (insisted that I must be misunderstanding the deal) and another offered to match if I came down "right this second". Overall, pretty easy transaction.
GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 15,000 miles per year are 2.1% and 48%, respectively.
When negotiating your deal on this vehicle, make sure to take the $800 cash incentive that is currently available on leases of it through GMAC into account.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
General Motors is currently providing an $800 cash incentive on leases of this model through GMAC.
In addition to that, GM is providing a $1,000 conquest cash on this model in certain regions. I would be happy to tell you if this regional incentive is available in your area if you tell me where you are.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
I live in Dallas so I believe the $1000 conquest cash is available here now (not sure of when this deal may expire). I did not know of the $800 GM cash but did see that there is a $750 cash incentive for USAA members (which I am). Any additional info on incentives,etc would be greatly appreciated.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
GMAC's residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 12,000 miles per year is 50%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Any thoughts on GM's willingness to allow a buyout of a 2007 SRX end of lease for less than residual value of $24997? The SRX V6 has 29,000 miles. If you need more info, let me know.
Thanks.
RS
Will you please tell me the money factor and residual for a 39 month lease with 12K miles per year on a '10 AWD Luxury with Navigation. Would a 36 or 39 month lease be the better option? Are the numbers significantly better for a lease with only 10K miles per year?
Also, I was offered the $1000 Conquest incentive, but not the $800 cash incentive in my lease quote. Do I qualify for both incentives if I live in NYC?
Thank you so much for your help!
Dallas-area dealer advised GMAC 36-month leases (12k or 15k) now have 48% residuals (not 50%) with a "non-negotiable" security deposit and lease termination fee required. US Bank lease residuals are quoted at 51%. Any thoughts on this?
Also, are there any current factory to dealer incentives? Do you know of any additional cash to customer incentives that will extend beyond June 30, 2010?
Thanks !
That sounds like a great deal! Would you mind telling me the name of the dealership in Philly? I'm interested in leasing an SRX also.
Thanks!
I leased through Hill Cadillac in Newton Square. I dealt directly with the Internet Manager (who is also the owner's son). They emailed me a firm price very quickly and were extremely responsive to all my emails and calls. Really good experience! Good luck!
thanks again
i also had received a conquest 1000 rebate off ,, now u are getting a front wheel drive they tried to quote me 535 a month the fwd is cheaper than the awd so you should be at 465-485,,,i figure their cost on the car is about 35 grand since the awd is 37
Thank you so much for the info. I will definitely get in contact with them. Hope you are enjoying your new SRX! = )
- Leasing Lady
It wouldn't hurt to place a call directly to GMAC to see if they would be willing to work with you, but chances are they won't.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 12,000 miles per year are 2.1% and 50%, respectively.
The lease rate for a 39 month lease is the same, but its residual value would be 2% lower.
Add 1% to the residual values for leases with only 10,000 miles per year.
The $800 cash incentive on leases through GMAC is available in your area. Make sure that the dealer takes it into account.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
As far as cash incentives go, General Motors is currently providing an $800 cash incentive on leases of the '10 SRX through GMAC.
These programs are scheduled to run through July 6th. It is difficult to say what this vehicle's lease program will be like after that date. I suspect that it will be similar to, but not exactly the same as the current program.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
As you can see, GMAC publishes lease rates instead of money factors for vehicles. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.
When negotiating your deal, make sure to take advantage of the $800 cash incentive that is currently available on leases of the 2010 SRX through GMAC.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thank you so much for the detailed info. Do you happen to know if GMAC released their rates and incentives for July yet?
You are awesome. Can I take you to the dealership with me?
- Leasing Lady
General Motors' current lease program is scheduled to run through July 6th. It hasn't told dealers what its new July program will be like. Please feel free to check back with me some time after the 7th and I will be happy to fill you in on the details of the new program.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
$515 with tax included
$2,000 down (includes 1st+tax+title+etc)
39months/ 15,000
Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will let you know what they think.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Brad
Brad
If it were me, I don't think I would accept anything more than 550 to 600 a month for a lease on a "performance SRX.
Maybe carman can help you out with some numbers. Good Luck!
I am hoping someone can familiarize me with current GM promotions for the SRX in terms of leasing. I am in NYC.
The invoice price on the vehicle is 40,643. MSRP is 43125.00
The following is a copy of the offer I was given by the dealership i went to, and I feel like I am getting ripped off:
MSRP: 43125.00
Total Mileage Limit: 39,000
Residual %: 49.00%
Lease End Value: 21.131.25
Rebate: 1950.00
Term: 39
APR: 2.000%
Initial Cap Cost: 43,125.00
Total Add Cap Costs: 895.00
Total Sales Tax: 2,431.24
Adjusted Cap Cost: 44,501.24
Base Monthly Rental: 654.42
Security Deposit: 675.00
Total Annual Fees: 10.00
Total Initial Fees: 87.50
Amount Due At Start: 1,426.92
Mthly/Ann Mile Limit: 1,000
Total Monthly Payment: 654.42
I also have $1000.00 of available earnings off a GM card and currently in a GM Lease that will expire at the end of this month, so I am expecting some kind of loyalty.
I feel as if the capitalized cost should be the invoice price at least.
Any input would be greatly appreciated. Thank you.
Dealers try to make as much money as possible. You're deal proves that you're no exception. Unless the demand for an SRX in NYC is such that they're able to get MSRP, you're paying MSRP! The sell price in your deal is, indeed, the MSRP of 43,125.00. What they're calling the initial cap cost is the sell price or, what is commonly called the "Agreed Upon Value", in lease agreements. You need to check Edmunds invoice pricing for this vehicle. They'll also show available incentives which should be deducted from the invoice. Also, check overstock at zag.com to determine the lowest selling prices in your area. What is the 1950 rebate? Is it a true rebate or, is it a dealer discount?
Sales tax is a huge factor; especially in NY. I'm not able to confirm your taxes because you didn't provide your sales tax rate and didn't itemize some of the fees and so, I'm not able to assess what's taxable and what isn't taxable. Also, I have no clue what "total add cap costs" of 895 means. These should be itemized. I suspect that this figure includes GMAC's 795 acquisition fee. It's possible, however, that the dealer inflated this fee by $100. You need an itemization as well as an itemization of all upfront lease charges ($1,426.92).
The first thing you should do is take some time to understand how leasing works. Learn the terminology, basic calculations, etc. For whatever it's worth, let me share some guidelines I use when leasing...
1st Rule Do your homework. Research selling price by checking invoice pricing and incentives at Edmunds. Also, check overstock at zag.com for competitive sell prices in your area. Research the money factor and be sure you're getting the "buy" rate if your credit is good enough to qualify.
2nd Rule Create a one-page lease proposal. It must be on your letterhead and be a very professional looking document. All calculations must be spot on and contain no errors of any kind. Include all pertinent data such as a description of the vehicle, MSRP, sell price, amounts capitalized (e.g., taxes, acq. fee, etc), cap reductions (e.g., trade, cash down, etc), money factor, residual factor, residual value, term, taxable payment, lease payment, amounts due up front (itemized), contract provisions (gap insurance, excess mileage charge, applicable disposition/purchase option fees). All dollar amounts are calculated, not by the dealer, but by you using a program that you created.
A professional looking one-page lease proposal speaks volumes about you... it sends the message that you know and understand leasing. That quickly serves notice to the dealer, and so; they're not as inclined to play games.
3rd Rule Fax/email the proposal to the dealer and negotiate via phone/email from the comfort of your home/office with your laptop excel spreadsheet lease program fired up and ready to rumble! The only thing you're likely to negotiate is the sell price and that only requires a few keystrokes on your laptop. And, bing-bang-boom you're done! This suggests that the biggest advantage of a lease proposal is that it saves time, money, and aggravation.
If you like, email me at
diffeqzoominternet.net
and I'll send you a few sample lease proposals.
The key is that you must control the deal. Never allow a dealer to control the deal by allowing them to "run the numbers". Trying to figure out the dealer's numbers is often a pointless exercise and, frankly, a waste of time unless, of course, you have a copy of their LEASE WORKSHEET. This is a computer generated document that eliminates confusion and guess work and will tell you everything you need to know and then some. The beauty of this document is that it always tells the truth. Allowing the dealer to control will only end up costing you more money in most instances.
If you agree to allow the dealer to "run the numbers", ALWAYS ask them for their LEASE WORKSHEET. If they refuse to give you a copy, RUN; DON'T WALK! However, there is absolutely no reason for the dealer to refuse to give you a copy of their lease worksheet.
A note on GMAC leases...
GMAC use interest rates; not money factors which is okay. All calculations in your deal have been done correctly and in accordance with GMAC criteria EXCEPT; I haven't been able to confirm the taxes as noted above. One problem with GMAC Smart Leases is this...
They continue their long-standing practice of cheating lease customers by discounting the residual one month nearer to the present (i.e., R / (1 + i)) where R is the residual value and i is the montlhy interest rate. This causes the monthly payment to inflate by a few dollars. This grossly flawed and totally irrational practice flies in the face of reason and is mathemtically, financially, and actuarially unsound.
Inappropriate or skewed computations only serve to justify the rationale for incorporating standard computational methods in the Federal Reserve Board’s Regulation M (Consumer Retail Leases) paralleling those of its Regulation Z (Truth-in-Lending) cousin.
Yup, that's all we need is more government regulation which translates to more bureaucracy; more government drones; more corruption; and MORE WASTE!
I hope that this has been more helpful than confusing. Questions? Please let me know.
John
GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 15,000 miles per year are 2.0% and 47%, respectively.
When negotiating your deal on this truck, make sure to take advantage of the $1,950 cash incentive that is currently available on leases of it through GMAC.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Lets just say the sticker price is 44k - with $1500 down , 15k miles ,
and 36 or 39 month lease.
I am wondering ballpark about what my monthly payment should be?
Any help would be appreciated. Thank You, Chris
2011 SRX AWD Luxury Package + Navigation
27 month lease
10K
$3400 - according to them it is just the taxes(8.875% for NY), first payment, inception fees, lic, reg, etc...i but that sounds pretty unrealistic
$499/month
Thanks so much!
Bklynt525
I just leased a SRX Luxury model 2011 in California September 10, 2010! GMAC is offering 24months @ 459.00 plus tax $2995 down after all taxes it came to $510.00 depending which state your in. I was lucky to find a GMAC certificate that was valid for $1500 that they sent to me because I was an old Cadillac customer in 2004 keep looking for Certificate offers maybe google GMAC for them?
This deal is great for 24 months! Hope this helps.
Alloy