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Cadillac STS Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited March 2014 in Cadillac
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Cadillac STS. Thanks.

Car_man
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  • doczuckdoczuck Member Posts: 11
    I plan to lease an sts v6 awd in dec I think the price may come down I want the car loaded ( the luxury package
    what do you think the money factor and the residual should
    is it true that the car only get 17 mpg ? thanks
  • doczuckdoczuck Member Posts: 11
    Could you tell me is this is a fair deal
    2006 sts awd list msrp $51375 55% residual 3.95 interest
    1500 miles 36 months
    $699 for 35 months $1,125 down includes sales tax 8% and first month payment white diamond would be $725
  • doczuckdoczuck Member Posts: 11
    Sorry to bother you but I really have to know soon
    thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi doczuck. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Correct me if I am wrong. If you were to lease a 2006 Cadillac STS V6 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 55%, 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.

    I am not sure what this car's real world gas mileage is like, but you may be able to get additional feedback on this subject by visiting the following discussion: "Cadillac STS/STS-V".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi doczuck. 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. I would be more than happy to give you my opinion on this deal if you let me know what its selling price is.

    Car_man
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  • doczuckdoczuck Member Posts: 11
    The selling price is $46475 after all rebates
    The msrp is $51,375 1500 miles 36 months And I have to give them 1st month + $2800
  • caddychaqcaddychaq Member Posts: 2
    Just got a great GMAC lease deal on a base 2006 STS. Had gotten a $1000 GM card bonus and wife received a $1000 certificate in mail(why I don't know)I used $1000 in GM card rebates. Paid out of pocket bank fee of $675 and $374(?)"prep fee". Also paid government $1100 sales tax. Now I will pay $199 per month for 24 months for a sweet ride. Best car deal I've ever made. Couldn't have leased an Accord for this kind of money.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, doczuck. I am sure that part of the $2,800 that you mentioned is a capitalized cost reduction (down payment). 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 STS would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. I will calculate a zero down lease payment for you to give you an idea of how much this car would cost to lease without any cap cost reduction.

    According to my calculations, if you were to lease a 2006 Cadillac STS V8 with an MSRP of $51,375 and a selling price of $46,475 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $616.

    Car_man
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  • financemanfinanceman Member Posts: 2
    Carman, do you have any knowledge of transferring a GMAC lease? I have a 2006 STS V6 with all available options. $51K MSRP, 12K/yr, 36mo lease. I am in NJ and paying only $489/mo (GM empl + trade equity) incl. tax. I have heard that I can transfer the lease to another person by having them qualify and pay another acquisition fee. I am looking to get some of my cash back out (approx. $3,000 or so). How would I market this and is it possible?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi financeman. I believe that GMAC does allow lease transfers, but I am not familiar with the exact process that is involved with doing so. Your best bet would be to place a call directly to GMAC to see what you have to do. You may be able to find someone who is willing to assume your lease by visiting a site like swapalease.com, but it's no always easy to get someone to assume your lease. I suspect that you are going to have a hard time getting anyone to give you several thousand dollars in cash and take your car off of your hands.

    Car_man
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  • jim_cainjim_cain Member Posts: 1
    Greetings;

    Anyone with insights into the current lease offers on the STS-V? I'm in Atlanta, if that makes any difference!

    Thanks in advance,

    -Jim
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Jim. I can give you an idea of what GMAC's current lease program on this car is like. Its lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. 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. If you were to lease a 2006 Cadillac STS V8 through GMAC on or before April 4th for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.95% and 56%, respectively. In addition to this special lease rate, GM is providing its dealers with $1,250 lease cash on the '06 STS V8 and an additional $1,000 bonus on models that have been in inventory since mid-November. Make sure to take this cash into account when negotiating the capitalized cost of the car that you want.

    Car_man
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  • salstssalsts Member Posts: 2
    Would you consider this a good lease offer by our dealer via GMAC.
    2006 Cadillac STS AWD V-6 with Luxury Package.
    After all dealer rebates, tax etc, price $ 47,800.00
    Lease for 39 months, 12,000 miles per month
    No money down
    $695,00 per month

    thank for your help
    SalSTS
  • salstssalsts Member Posts: 2
    Does anyone ever read these posts?
    I'd really like to hear an answer to my post #16. If anyone can help me out, it would be appreciated
    I'd like to get the car if it's a reasonable deal.
    thank you
    salsts
  • jmdeangjmdeang Member Posts: 10
    Car_Man:

    Can you give me the money factor and residual % for a STS 3 year lease with 15,000/year ?
    Also it seems like these cars are selling way under invoice, is that true?

    thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmdeang. If you were to lease a 2006 Cadillac STS V6 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 55%, respectively. Given the $1,500 lease cash that is currently available on the aforementioned car right now, you should be able to get one for below dealer invoice.

    Car_man
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  • bjb1bjb1 Member Posts: 1
    Hello. I'm also looking at leasing a Cadillac STS V6, how does the marketing support work? It shows $5,000 available to the dealer. Does any of this this apply to leases??
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello bjb1. I am not 100% positive, butt I do not believe that the $5,000 dealer cash that is currently available on the Cadillac STS is compatible with GMAC's special lease program. I think that the only cash that can be used on leases of it is the $1,500 lease cash that is available on V6 models and $1,250 lease cash on on V8 models.

    Car_man
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  • jvettejvette Member Posts: 70
    I just priced a new STS and there was $1000 and $1500 both on the STS for a total of $2500. The residual was 60% and the interest rate was 3.95. Great deals on them right now. Most dealers I priced wanted $1200 over Edmunds prices. They all added $649 Advertising fee. The best lease price I got was a 36 month for about $550 with sales tax of 6% on a $51,000 one.
  • rtaliartalia Member Posts: 1
    Hey i was reading ur comment and how did you get such a good deal on the sts?!? 199/mo. Did u put anything down and is GMAC lease deal different then the normal lease deal a cadillac dealership would put you on if you wanted to lease one? Let me know cuz I am going to lease one sure and just tryin to find the best deal on one. Thanks

    Robin Talia
  • drjeff1drjeff1 Member Posts: 1
    I just want to commend Ocean Cadillac. They have once again made the buying experience a pleasant one. I actually made the deal over the net, went to the dealer and ended up paying less than I agreed! They are a simple family dealership without a system. My 51625 STS 2 month old demo 1500 inception and 525 per month including tax (lease) ONLY 27 months. This car was the owner's demo. They also sold me 20 inch wheels at an excellent price and included the first set of new tires.
    This is my second time with them. The first time they actually delivered the car 30 miles away. I never even went in to the dealership. You can't go wrong there.
  • jmdeangjmdeang Member Posts: 10
    Car_Man:

    Can you calculate what the monthly payment would be with the following:

    A 2006 STS, MRSP $50,025 - Negoitiated Price $41,082
    No money down.
    3 years for 15,000/yr.
    I live in PA, so include all taxes.

    thanks
  • jr32jr32 Member Posts: 23
    When you say $550 with sales tax..... do you mean the tax is included in the $550 or that you paid the taxes?
  • jr32jr32 Member Posts: 23
    the dealer is telling me the 3.95 is not really APR and that dividing the by 2400 (typical APR to MF conversion) is not correct. GMAC posts 3.95 on the STS but the real APR they get by using a chart which comes out to more like 4.something. Does that sound like BS???? It's a difference in about $50 to $60 per month.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure can, jmdeang. According to my calculations, if you were to lease a 2006 Cadillac STS V6 with an MSRP of $50,025 and a selling price of $41,082 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $490.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jr32. I've never heard that before. It sounds like the dealer is trying to mark your car's lease rate up to add additional back-end profit to your deal to me.

    Car_man
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  • kstro135kstro135 Member Posts: 3
    Is this caddy w/NAV? If so who offered a deal i like this. I live in so. jersey and would love a deal like this. thanks.
  • kstro135kstro135 Member Posts: 3
    Just got offered an 06 STS V6awd, MSRP $51375 12k miles per year, $1000 due at signing for $573/mos. I used the employee discount and received $45/mos. off of the $573 (the original price.) I waited to get the best deal i could get before asking about the discount prgm. (thanks to my good friend who got me the cert.) This deal was done in south Jersey.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new car, kstro135. You definitely got a good deal since you leased it through GM's Employee Purchase Program. Enjoy!

    Car_man
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  • jr32jr32 Member Posts: 23
    How does one get a cert for a EPP deal?
  • stilesstiles Member Posts: 6
    I am leaseing a 2005 STS, the lease ends April 2007. Because of illness, i am putting very few miles on the car. (so far 9,000). Like the car very much and am wondering about a re-lease for another 3 yrs, I am worried that if I do lease this car again (based on the residual) I will NOT have a warranty, can I extend the warranty? Tell me what you think?
  • andre1andre1 Member Posts: 85
    Car_Man,
    In an earlier post, you mentioned the lease interest rate on 2006 Cadillac STS is 3.95%. What are the residuals for 24 and 36 months at 12K and 15K miles per year? Also, how much lease cash is available? Thanks!
  • andre1andre1 Member Posts: 85
    Car_man,
    I forgot to mention that this is for the V6 and V8 sport versions of the STS. Thanks.
  • jmdeangjmdeang Member Posts: 10
    Car_Man:

    Can you tell me want the current rebate is off the negotiated price for a lease and a purchase?
    I know it's higher for a purchase but I am seeing different numbers for both.

    thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jr32. One can only get a certificate that allows them to purchase through General Motors' Employee Purchase program from a GM employee. GM gives its employees a certain number of certificates that they can give out to their friends and family.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am sorry to hear about your illness, stiles. As long as your car's original factory warranty is still in effect, you should be able to purchase an official GM extended warranty for it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey andre1. GMAC's current 24 month, 15,000 mile per year residual value for the 2006 STS V6 is 62%. Its residual value for an otherwise identical 36 month lease is 52%. If you were to lease with only 12,000 miles per year, its 24 month residual value would be 2% higher and its 36 month residual would be 3% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ahhh, thanks for the additional info, andre1. The numbers that I mentioned in my previous post are for the V6 model. The V8 model's residuals are 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmdeang. General Motors is currently providing $4,500 dealer cash on 2006 Cadillac STS models that are financed or paid for with cash. For leases through GMAC, it is providing $3,500 lease cash on STS V6 models and $3,250 lease cash on STS V8 / STS-V models.

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  • BeamerManBeamerMan Member Posts: 64
    Hi Car_Man, I am negotiatihg a lease on a 07 base STS. The sales manager keeps talking about a 1500,00 rebate and I can find no indication of any such rebate existing. If this is a legitimate GM rebate then I have 1500.00 more room for negotiations. Thanks for your help.
  • merckxmerckx Member Posts: 565
    Last spring there was a $5,000 incentive on the STS...seems odd the incentive is less now that the 2007s are out...I'm thinking of buying a 6cyl STS..what is the current offer?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi BeamerMan. General Motors is currently providing $1,250 lease cash on GMAC leases of 2007 Cadillac STS V8 and $1,500 on GMAC leases of '07 STS V6 models. Negotiate the lowest possible selling price that you can on the car that you want and then have the dealer deduct the $1,500 from that price.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi merckx. Are you talking about the 2006 model. General Motors is currently providing $6,000 dealer cash plus $750 bonus cash, $6,750 total, on the 2006 Cadillac STS. If you want to pay cash for or finance an STS, the '06 model is the way to go, but if you want to lease you should go with an '07 model.

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  • BeamerManBeamerMan Member Posts: 64
    OK Car_man, Look at these numbers.
    2007 Cadillac STS Base with Moonroof. 39 month lease, 10K per year.
    MSRP-44,195
    Base Cap Cost-40,000
    Residual-26075
    Money Factor-.00165
    I pay tax, 595.00 acquisition fee,tags and ist payment
    My payment is 466.00/month including tax.

    Now I just read there is 2500.00 dealer cash as of 2/1/07. Did I leave some money on the table? If so my negotiations are not complete. I appreciate your analysis. Thanks, Wayne.
  • nickalphernickalpher Member Posts: 3
    i'm looking at a 2007 Suburban LTZ loaded...they are citing for 36 months, 15k, a 59% residual and 6.9% APR. does that sound right? The money factor seems really high.
  • merckxmerckx Member Posts: 565
    Car_man, I've been looking for a page here on Edmunds that lists the $6,750 incentive on the 2006....I'm thinking of buying a base six cylinder STS...with no options it lists for $41,700....Two different dealers are offering a brand new 2006 car equiped like this for $34,000...What do you suggest I offer for it?..$32,500?
    Thanks in advance for your help...
  • BeamerManBeamerMan Member Posts: 64
    Hi Car_man. Sorry to be a bother but I am gettting ready to deal on the STS on my message from Feb. 3, thanks
  • rockyleerockylee Member Posts: 14,014
    So the offer is up to $6,750 off for a 06' STS ????

    That means with my GM discount I could knock off $13-14K off total. Well I might have to look into that. ;)

    Rocky
  • BeamerManBeamerMan Member Posts: 64
    Hi Rockylee, I am waiting for a posting on my 07 STS Lease from the staff but can verify that they are stepping up on 06 models. Rocky, I undersatnd that a GM employee can give a discount to individuals? I have not owned an American car in 30 years(BMWS) and so much like the STS am getting a Caddy.
  • rockyleerockylee Member Posts: 14,014
    Yeah GM employees can give a discount to friends. My father retired from GM/Delphi and heard about the "GM In Driveway" or GMID. I guess in more recent times they started running that promotion more ? I know back then they only allowed employyes to do it at certain times often at the ned of the year and back then it had restriction on what products it could be offered. I never knew until recently what they call it now days but it appears GM, has expanded the program from the chatter I read on this site. I'm not sure if the GMID is at actual GMS or GM supplier discounts since my family hasn't done one. I will have to ask my father if he knows more about the program and if he's aware he can do it. I know a couple of friends back home in Michigan, that might ask him for it's use. He of course will have to sign the paperwork for authorization.

    Rocky
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