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2013 and earlier Cadillac CTS Lease Questions



  • I would be surprised if you got any type of favorable lease deal on a CTS. The two dealerships I have been dealing with have both been consistent in telling me that GMAC is not offering any type of a decent lease deal. I think jacalyker either got lucky or the dealership went through private financing. Please let us know. I had asked her earlier about this but I do not believe she ever responded - probably happy with her deal and doesn't come to the boards anymore.

    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.
  • Car_Man, or anyone else, I have what I feel is a pretty good offer on a CTS that is being leased through US Bank. I am being quoted a Money Factor of .00275. A competing dealer told me MF or .00266. Not a huge difference, but how do I find out what the actual US Bank MF is? Does anyone here know it? Thanks for any information.
  • topgun7topgun7 Posts: 412
    " I have what I feel is a pretty good offer on a CTS that is being leased through US Bank."

    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 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...
  • Thanks, topgun. I have a US Bank Dealer lease calculation worksheet. it has the MF typed in so someone at the dealership typed it in. I just want to know that the dealership is not jacking up the MF - I have searched everywhere on the net for a place that tells me current lease rates. Nothing, nada. I can only assume it may be ok to compare the current bank MFs to auto loan rates. Most of them are in the 6.5% area so I guess teh lezse rate isn't totally awful.
  • kyfdxkyfdx Posts: 88,558
    Since you can't get a lease directly from USBank, then you aren't ever going to know the buy rate. Unlike a captive financing company, USBank might have different rates for different dealers, depending on the amount of business.

    If you go to, 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.



    Prices Paid, Lease Questions, SUVs

  • jls80jls80 Posts: 1
    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

    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

    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?
  • Hi gator5000e. A money factor of .00275 isn't bad for an unsupported lease. It's equivalent to an interest rate of 6.6%. I wonder how bad the residual value is. Did the dealer reveal it to you? Unfortunately, I do not personally keep tabs on the lease programs that are being offered by independent banks so I cannot confirm that this is U.S. Bank's buy rate. Sorry that I could not be of more help.

    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car_man. That MF and residual (45%) became secondary when they disclosed their privacy policy to me as I was about to close the deal (or anti-privacy policy as the case may be).

    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.
  • sam_ksam_k Posts: 117

    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.

  • Hi Sam. While General Motors did reintroduce its special financing offers when GMAC received a huge cash infusion from the government, it unfortunately did not bring back its special lease program. In fact, if I recall correctly the agreement between GMAC and the government actually prohibits it from leasing, or at least places some significant restrictions upon it. If this is indeed the case, I wouldn't count on GM bringing its lease program back any time soon.

    If you are set on leasing, you will be much better off going with the Infiniti G37 Sedan.

    Prices Paid: Buying & Leasing Experiences Forum
  • Regarding this deal:
    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?
  • That money factor is horrible. BMW will give you money factors equating to 1.55%
  • wvgasguywvgasguy Posts: 1,405
    Give us back the bailout money and shut down. Excellent lease incentives. $7000 plus Supplier Pricing and Bonus cash and my capital costs would be about $32.5K.

    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.
  • sam_ksam_k Posts: 117
    24% interest rate?! That's insane. Did you take the money factor and multiply it 2400 to get that interest rate? I was thinking about leasing a CTS but after Car_man indicated that GM was providing no lease support anymore, I stopped considering it. If 24% is the interest rate, it must be super expensive to lease.
  • wvgasguywvgasguy Posts: 1,405
    That's basically what I told him. I repeated to the Manager, what is the money factor? He replied it is a 24% interest rate. He didn't bat an eye. I told the second dealer I called that I would have a hard time telling anyone that with a straight face.

    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.
  • couchman57couchman57 Posts: 13
    OK Carman, is the $7k lease incentive offset by crazy MF and low residuals??

    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....
  • Hi couchman57. GMAC is no longer leasing vehicles, so in order to lease a CTS one would have to do so through an independent bank. I don't personally keep tabs on the money factors and residual values that independent banks are offering, but I would be shocked if the money factors that are out there really were equivalent to an interest rate of 24%. It sounds like the dealer who said that just doesn't want anyone to lease this car for some reason, or doesn't know what he's talking about. I don't even think that banks are allowed to charge consumers interest rates that are that high on auto loans and leases.

    Prices Paid: Buying & Leasing Experiences Forum
  • wvgasguywvgasguy Posts: 1,405
    The dealership in Clarksburg WV quoted me the rate. I figured it was BS so I went home and called the dealership in Fairmont. Without me telling him what was said in Clarksburg he quoted me 24%. At least when I asked him how they could say that with a straight face, he sounded appologetic. It disturbed him as well. I could tell he was embarrased. He did mention his dealership was trying to work out something locally with a financial organization. He mentioned a dealership in PA he had talked with had something going but without GM.

    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.
  • mixenmixen Posts: 11
    There is a dealer on Long Island that is advertising a 60-month lease for the RWD CTS with auto for $289 per month. They want $2995 down plus bank fee plus first month's payment, plus tax. I figure that comes to about $6179 down, but I have $1000 GM points and a $500 special offer. So, it would be $4679 down and $289 per month. If you amortize the $4679 over the course of 60 months, that means that the actual monthly payment of $289 is around $367 per month. All in all, not a bad deal for a CTS, albeit the base model.

    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.
  • wvgasguywvgasguy Posts: 1,405
    What I have read and what I was told is that the $7000 is good regardless of who finances the lease for you.
  • rackermanrackerman Posts: 8
    that seem like a great lease deal...:-) can you disclose which dealership is offering that deal...i am in the market for lease a '09 CTS...i live in Miami and my local dealership is offering $439/mnth, plus sales tax and $1998 down for a new CTS(basic model).
  • hoss411hoss411 Dallas, TexasPosts: 9
    I'm considering leasing a CTS through US Bank. Edmunds currently lists 5 different rebates and I'm trying to figure out which ones I'm eligible for. I've asked a couple of dealers and I think they are either misleading me or they are absolutely clueless...

    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!
  • rackermanrackerman Posts: 8
    I agree with you....very confusing...I tried to nego a lease on a CTS over the weekend (Miami, Florida) and they told me I am "only" eligible for the $7k rebate. I am currently leasing a CTS and it expired on May 19, 2009...on a month-to month lease.
  • rackermanrackerman Posts: 8
    I agree with you....very confusing...I tried to nego a lease on a CTS over the weekend (Miami, Florida) and they told me I am "only" eligible for the $7k rebate. I am currently leasing a CTS and it expired on May 19, 2009...on a month-to month lease.
  • mixenmixen Posts: 11
    Atlantic Cadillac in Bayshore, NY (Long Island).
  • mixenmixen Posts: 11
    As a follow-up to my e-mail, I finally pulled the trigger and leased a 2009 CTS AWD with the base engine, no added options. The deal is 60 months at $339 per month plus $2995 down plus bank fee plus tax plus DMV. It came out to about $7250 down, but I had $3000 GM points and had received a letter from GM saying that I could exceeed the normal $1000 point threshhold for the CTS until the end of June. So, I wound up getting the CTS for about $4250 down. I hate putting money down, but all things considered, I thought this was a good deal for the AWD.
  • sam_ksam_k Posts: 117
    No offense mixen but putting money down on a lease is a risk. If your car is stolen or totalled, then you lose all that money. Gap insurance does not cover you. The insurance company writes the check to the owner of the car (i.e. the leasing company), not you, so any money that you put down is lost. That's why Edmunds recommends that you don't put money down on a lease.

    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.
  • wvgasguywvgasguy Posts: 1,405
    That's a long lease. I would have thought that with 0% you could have done as well purchasing?
  • billmvbillmv Posts: 148
    Sam....please clear up something for me. You say "If your leased car is stolen... the insurance company writes the check to the owner of the car (i.e. the leasing company), not you."

    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?

  • sam_ksam_k Posts: 117
    billmv, there's a very simple answer to your first question. When you lease, the lease should include something called "gap insurance". As the name implies it covers the difference between what your insurance company will pay the finance company and what's owed to them. In your example, if the leasing company is owed $35K and the insurance company will only pay $30K, gap insurance will cover the $5K difference. Here's a link to an article that explains gap insurance.

    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, mentions it in the following article on how to spot a good lease.
This discussion has been closed.