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2014 Cadillac ATS Lease Questions

2

Comments

  • badpokerbadpoker Posts: 6
    edited December 2013
    Would appreciate any feedback on this lease offer from local dealer (northern CA). I'm a lease newbie.

    I was interested in by the advertised $299/mo. lease on the 2.0 with $3,299 due at signing. I told the dealer I need 12k miles and not gonna pay that mcuh up front. My lease math is sketchy, not sure if their offer somehow just moves some money from one pocket into the other or if they are really giving me a "deal", but I am being offered the following:

    -ATS 2.0 base with sunroof + CUE
    -12k miles
    -1.95% interest rate - is this the money factor? I thought MF is a .0000 type # which can be translated into an APR.
    -Residual 63%

    Offer is $378 mo. plus tax, with drive off fees of $1,098.

    Per the dealer, this is a $40k msrp car and he's doing the lease figures off of invocie pricing... not sure how he got to $40k, playing with some online builds i get to an MSRP of $37,495... $35,095 base + $1,350 cue + $1,050 sunroof.

    Opinions / advice?
  • kd1007kd1007 Posts: 23
    MY ATS TURBO STICKER WAS $38,500 WITH SUNROOF I DIDNT WANT CUE WAY TOOO MANY PROBLEMS WITH IT I PAY $310 PER MONTH 36 MO.
    ZERO $$ DOWN

    PLUS LOCAL TAXES IN ILLINOIS

    HOPE THAT HELPS

    K.D.
  • badpokerbadpoker Posts: 6
    edited December 2013
    Wow KD, that seems like a screaming deal, good for you! Did you negotiate hard for that price, i would be all over a lease like that. Maybe i'll hold out a few more days and see if my dealer contacts me again.

    I actually like CUE, but i'm a very gadgety type of person.
  • GM and Ford use percentages, instead of money factors... I have the ALLY Bank numbers and I show 2.25% ... but, the residual matches.. .so, that part of it looks right..

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • knackllknackll Posts: 12
    edited December 2013

    So I have an interest in leasing an 2014 ATS Performance model 3.6 and asked my local dealer for a quote. I am not sure if the quote is fair or if it is high. If someone could advise me if it seems good to let me know. I would like the negotiated selling price to be around $46900 but not sure if im asking too much. Any help would be much appreciated. Info as follows: MSRP 50750 SELL PRICE 47903 DOWN PAYMENT 1000 RESIDUAL .61 MONEY FACTOR 2.35 36 MONTH 15000 miles 695 DEST CHRG. REBATES ROLLED INTO SELL PRICE MONTHLY PAYMENT $589.00 TAX 7% Thank you

  • I just signed a deal on a 2014 ATS Performance AWD 2.0T in Black Diamond Tricoat w/ sunroof, nav. 18" machine polished wheels, cold weather package. I put $2500 down for a 39mo/12k lease with a $502.82 payment (7% RI taxes included). Money Factor was 2.25& and residual was 61%. Did I get a good deal?

  • sergeymsergeym Posts: 262

    If you are not sure the deal is good, it probably is not. Anyway, you've got the car already. Stop worrying about the deal, just enjoy the car.

  • knackllknackll Posts: 12

    Ok, so I had requested information as to wether my qoute was good or not. I see that a lot people are also asking the same question. The answer is not so easy to answer since there are so many situations that exist that do not warrant a simple answer.

    That said, this is what I did in regards to the lease of my new Cadillac ATS. I educated myself about leasing and wanted to know what everyone else was paying. So the first thing I did was visit this site to see if I could get that answer. It was not very clear. So before I stepped foot in the dealership I did the following:

    The number one thing I learned was how to calculate the lease. If you have no idea how to calculate a lease, you are at a disadvantage with the dealer as it pertains to the numbers. You will absolutely need to know the MSRP, NEGOTIATED SELLING PRICE (rebates, etc), RESIDUAL, & MONEY FACTOR. Thanks to this website you can obtain the residuals, & money factor based on lease term here. The rest you will need to get from the dealer.

    The next thing I did was visit the lease swap/trading sites to see what other people were actually paying based on models and tier options (this was very helpful). It gave me an idea of the type of payment I would be at. This basically told me what payment to expect and if it was in my budget.

    The next thing I did was contact the dealer finance manager to verify residuals & rates. They are usually very forth comming with this information. After that I created a spreadsheet on my computer and then transfered it to my smartphone to prepare for battle.

    Before going into the dealership I visited them after hours to look at the vehicle I wanted and verify the msrp and options. The next day I went in to buy the vehicle. This is where the fun began. I went in so prepared that knew all the numbers in my head. I knew exactly what they were going to start off at and where we most likely would end up. Or so I thought. After going back and forth we ended up about $600.00 away from a deal. I must tell you he blew through his program typing numbers as if he knew exactly how to play the game. What he did not expect was my program on my phone that kept up with him. Basically, what it did was keep him honest, which on a few occasions he strayed but got back on track. At the end all it is, is math and if they are honest the issues to get you to the price per month you want to pay will stick out like a soar thumb. Such as if the price out the door is too high, rate is not correct, or term is wrong.

    In my case he and I worked together on his computer and my phone going through each line confirming the numbers. In the end we were $600.00 away from a deal.

    He went out to the lobby to give me and my wife a few minutes to discuss it. After a few minutes I went out to get him to let him know we would have to come back. After hearing that he asked us to follow him back to his desk to the look at the lease program on his computer. He started tabbing through the program as he knew exactly where he was going which he did. He stopped at the money factor field and changed it to accommodate the $600 difference. He looked at us and asked if that works. Before I could speak, my wife was shaking his hand. After all the ifs and buts he changed the money factor. I had no idea they had room to move on that. Bottom line is he was not changing his selling price or term and the msrp is what it is and I was not providing anymore money down. So he took it from the bank. That was outstanding! I had no clue that was an option. The bank must give them room on the rates if they find it necessary. I had no understanding of leasing and the numbers he could have had me paying more than I wanted.

    One other thing I wanted to mention is that all the available rebates, supplier discounts, and incentives were applied to my deal. I have no affiliation what so ever with any suppliers and or employees. They let me use theirs. We also went in after Xmas and not many people where there. Actually, we were the only ones. I'm sure that helped.

    BTW, All my negotiations was done with the finance manager. The salesman sat and listened in.

    Moral of my long drawn out story is no matter what others are paying, your situation will be different. Also, leave the wife at home!

    Knackll

    My deal: MSRP 51765 Residual .59 Term 39 15000/yr Dwn pymt 1500 Money factor 1.9 $536.00/mnth

  • isles1isles1 Posts: 110

    @kyfdx

    Do you have current lease information for the 2014 ATS? I was quoted 1.2% and 59% residual for a 36 month 12K mile lease. I was also told that these numbers do not vary based on trim level, RWD versus AWD, etc. Do the numbers and that information sound accurate?

    Still negotiating sales price for a standard AWD 2.0T with CUE, sunroof, heated seats, sport grill and all weather mats. I was quoted about $900 over Invoice...I am going to shoot for Invoice or a few hundred over Invoice BEFORE incentives. What is a reasonable selling price for this car? Edmunds gives a market value at a few hundred over invoice in downstate NY.

    Thanks in advance.

  • topgun7topgun7 Posts: 409

    What is a reasonable selling price for this car? Edmunds gives a market value at a few hundred over invoice in downstate NY.

    All car price are local in nature. The most competitive market is LA. Northern California is close behind LA. So if you asked someone from LA, they would tell you shoot for below invoice. But if you only have one Caddillac dealer in town, $900 over invoice sound about right. If you already shop with all the dealers around where you live and the price is still not good enough, the only other option you have is to expand your search to include some of the more competitive markets. One thing I found helpful in case of uncertainty is to always say no to dealer offer until they stop coming back with better offer. The last offer is probably the best offer short of a competitive offer from another dealers. Also talk to a few dealers to generate some competition. It takes a lot of work to get the lowest price (or even close to lowest price). But in general, if you use email for the initial negotiation, it will cut down the time substantially. 8-10 hours of work should get you pretty close to the best price in your neighborhood. Good luck..

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,946

    @isles1 said: kyfdx

    Do you have current lease information for the 2014 ATS? I was quoted 1.2% and 59% residual for a 36 month 12K mile lease. I was also told that these numbers do not vary based on trim level, RWD versus AWD, etc. Do the numbers and that information sound accurate?

    Still negotiating sales price for a standard AWD 2.0T with CUE, sunroof, heated seats, sport grill and all weather mats. I was quoted about $900 over Invoice...I am going to shoot for Invoice or a few hundred over Invoice BEFORE incentives. What is a reasonable selling price for this car? Edmunds gives a market value at a few hundred over invoice in downstate NY.

    Thanks in advance.

    Those are the same numbers that I have... They appear to be valid on all trim levels.

    Moderator - Prices Paid, Lease Questions, SUVs

  • isles1isles1 Posts: 110
    edited February 6

    Took delivery of a 2014 ATS AWD 2.0T on 1/31/2014. I'll post details in case it helps someone else: MSRP $40,870.
    Sales price $38,208 (gross of cap cost reductions listed below).
    Interest rate 1.2%; Residual 59%.
    36-months; 12K miles p/y.
    $1,500 down, $1,500 conquest, $2,000 GM Card bonus.
    NYS sales tax of 8.625% and bank fee in payment.
    First month's payment, $1,500 down payment and DMV = $2,050 paid at drive off.
    $358 per month.

  • CarMan ,

    Need your help LEASING. What is the MF & Residual for 2014 ATS Base/Htd Seats (NY is bone cold today) 10k 36 months?

    Also, I noticed gorgeous 2013 ATS Turbo Sun/CUE/Htd Sts on lot would like to Lease that if possible ? Any thoughts ??? Is the 2013 Turbo less desireable than 2014 Base.

    One more, noticed article stating that ALG is slamming the residuals on ATS down to 48% are dealer using this benchmark????

    thanks-

    A Car Man too!!!!

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,946

    @rocketman18 said: CarMan ,

    Need your help LEASING. What is the MF & Residual for 2014 ATS Base/Htd Seats (NY is bone cold today) 10k 36 months?

    Also, I noticed gorgeous 2013 ATS Turbo Sun/CUE/Htd Sts on lot would like to Lease that if possible ? Any thoughts ??? Is the 2013 Turbo less desireable than 2014 Base.

    One more, noticed article stating that ALG is slamming the residuals on ATS down to 48% are dealer using this benchmark????

    thanks-

    A Car Man too!!!!

    1.20% MF and 60% residual for 36mo, 10K/yr lease on the 2014 model.

    I don't have any info on 2013 model leases. Most banks have their own residuals, they don't use ALG.

    Moderator - Prices Paid, Lease Questions, SUVs

  • Need help regarding cash offers for ATS -Std ($1500) & Lux ($2500) was told by dealer that this cannot be used in leasing deals. Currently GM running Lease Loyalty $1000 and Pres Day $1000.
    Was informed that's it for discounts when leasing? Cannot combine with GM cash offers?? Is this correct??

    Also, BTW GM has maybe improved in QC of cars but sales has not changed. Look at me like I landed from another planet when I mention Pres Day offers and Loyalty offers??? Also what's GM supplier pricing.....

    Whats with this???

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,946

    I don't have the answers for your incentive questions.. Sorry.

    Moderator - Prices Paid, Lease Questions, SUVs

  • Isles 1 what dealer did u use?
    FYI here in CNJ contacted over 6 Caddy dealers for ATS with $5000 in cash & incentives every one hit me with $50-$80 more than what it should be. No wonder I hardly see any these on the road! I been leasing over 20 years.

  • isles1isles1 Posts: 110

    @rocketman18 said: Isles 1 what dealer did u use?
    FYI here in CNJ contacted over 6 Caddy dealers for ATS with $5000 in cash & incentives every one hit me with $50-$80 more than what it should be. No wonder I hardly see any these on the road! I been leasing over 20 years.

    King O'Rourke in Smithtown / Lake Grove, NY. General manager is David Perricone. Bill Reale was our sales person. If you prefer to get quotes via the internet, e-mail Matt McGrath at mmcgrath@contactdealer.com

  • Michaell@EdmundsMichaell@Edmunds ColoradoPosts: 1,246

    @isles1 said:

    Please, no last names or contact information.

    michaell@edmunds.com

    Moderator, Prices Paid and Leasing Experiences

    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4

  • cnote2cnote2 Posts: 42

    anyone know the lease cash available on the ATS?

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