2013 and earlier Cadillac CTS Lease Questions



  • leslie12leslie12 Member Posts: 15
    Subject: Re: [Edmunds.com Forums] New message in Cadillac CTS Lease Questions

    Sorry it took me so long from the holidays and all. BTW, from
    reading this board, I do not think I got the "best" deal, however, I
    really do not understand all of it anyway.

    MSRP: 42705
    GROSS CAP. COST: 38862.82
    CAPITALIZED COST REDUCTION: $600. (initial cash payment)
    This is for a 39 month lease at 10,000 miles per year.

    (Hope this is what you wanted)
  • soflkurtzsoflkurtz Member Posts: 14
    Leslie12 -- not really. I am looking for the raw numbers that make up a lease payment, which are the residual values and I failed to mention earlier, the GMAC rate. Everyone pays a different price for their vehicle. In your case, you have a 68% residual, which is inline with what I am seeing, but I am looking for the residuals across a range of annual mileage, plus the loan rate.
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    Just wanted to share the leasing deal I got this weekend. Any comments welcome.

    36 months/$10k miles = $585/mo.

    Out-of-Pocket includes 1st month + DMV fees only (No Money Down, No Trade-In)

    CTS 3.6L DI
    Black on Black
    Premium Luxury Package
    18" All Season Tire Performance Package
    18" Polished Aluminum Wheels
    AWD Transmission
    Spare Tire
    Total Options MSRP = $13,200
    MSRP = $34,545
    Destination Charge = $745
    Total Vehicle MSRP = $48,490
    Taxes (8.25%) are capitalized into Lease
  • leslie12leslie12 Member Posts: 15
    Sounds like the car is really loaded! Nice! If you have read my posts you will see that I am not that "informed" on what is really a good deal or not. However, I know that I have a 39 month lease, same mileage, without the AWD and 18" tires. Our sales tax is 7%. I also put down $600 down. My payment is $484. per month (including tax). You are paying $100. per month more than me, which is $3600 over the life of the lease. See What the 18" tires and AWD adds to the price and divide it over the 36 months. That will tell you if it was inline with mine, which again I don't know if it is the BEST price. Keep in mind, however, it is really hard to ever get the BEST price. (Just food for thought.) Does that make sense?!?

    Have you negotiated with any other dealer? I do know many people google "lease calculator" and plug in their numbers to see if it is a good deal. BTW, did they give you an interest rate that they were calculating your lease on? Mine was 5.75, I believe.

    I can tell you that I drove my car for about four hours this weekend and absolutely loved it! The navigation is so much more improved than my 05 CTS, and the XM radio, (which I also had in my '05) makes the ride soooo much more pleasurable. I sang all the way down the highway! (BTW, you do know that you can pause and replay a song that you are listening to if you want to don't you?! So much fun. I guess that is how I would describe the car......SO MUCH FUN!

    Good luck!
  • smithsongasmithsonga Member Posts: 123
    This is an incredible deal...in fact, it appears to be GM employee pricing of approx 12% off MSRP.

    Taking the lease calcs as I know them today at 62% residual for 10k, 3 years and 0.00238 money factor and assuming a $600 ACQ fee rolled into the lease, your vehicle price was approx $42600...almost $6000 off MSRP or 12%.

    As a note of reference, the above deal at MSRP would net a lease payment of $776.
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    I think you are assuming that all the discount comes off the MSRP when in fact the dealer has quite a bit of leeway in terms of adjusting the residual and the money factor/APR quoted by GM. There is dealer incentive built into every component of the lease, not just the vehicle price.

    I did receive a supposed $1,000 rebate/incentive under Cadillac's Conquest program for current owners of a luxury vehicle (MB, BMW, Audi, Lexus) that are converting to Cadillac owners.
  • leslie12leslie12 Member Posts: 15
    As I said from the beginning, I know absolutely NOTHING about this. For me I just looked at the car and decided what I was willing to pay. I found another dealer that was out of my area that gave me a number that was acceptable to me and then the local dealer (where I got my car from before) was willing to do that price. What do I think I should have gotten....probably the same deal with a total payment of $470. per month. I just wanted the car at a price I was willing to pay for it and that was that......There are things that I negotiate well, cars are not one of them! I truly believe that car salesmen are the worst!
  • smithsongasmithsonga Member Posts: 123
    yes, i was assuming it was cap cost reduction by the dealer. I have never seen a dealer actually beat the residual or MF listed by the manufacturers...I typically find (and did recently when pricing a CTS at GMS pricing) they mark up these rates. They tried to mark up the interest by 1%.
  • soflkurtzsoflkurtz Member Posts: 14
    Does anyone have the accurate numbers for December? I was quoted 7.1% for GMAC leasing and I actually cannot believe that.
  • slipangle7slipangle7 Member Posts: 2
    more like 6.1
  • kimknightkimknight Member Posts: 1
    I am so excited!! I am picking up my new CTS is just a few hours. I am getting leasing on the car. I was wondering if you think I got a good deal. I never thought I would get it since my credit score is only 620 but I guess they liked me. I got the standard CTS with an automatic transmission. I didn't get any of the cool stuff but I guess I am just lucky to have such a beautiful car. I put $4000 own and payments are $390 a month. Does this sound about right? Thanks!
  • discount80discount80 Member Posts: 27
    Why would you put down so much money on a lease? You shouldnever put that much money down on a lease. If you wreck the car or it is stolen you never get that money back. If you would of put nothing down your payments would of only went up about 100 bucks. Bad Choice! Bad Deal !
  • christina271christina271 Member Posts: 65
    I'm not sure if this topic was already discussed. Is it possible to combine the $1000 Luxury Conquest offer with the $2000 Pull ahead offer?
  • lonewaldenlonewalden Member Posts: 26
    A bit harsh don't you think discount80? kimknight, congrats on a very sweet ride, those are beautiful cars. Dont know what kinda money factor you got or the residual, but $390 does'nt sound that bad to me.
    I always hear people say you shouldnt put money down on a lease. I think normally that is sound wisdom, but not always. It depends on yoru situation. Even if you put that $4000 down on a buy that you financed for 60 months and wrecked it you would'nt get any of your down payment back (at least not within the first few years). It would probably take 2 or 3 years to get any positive equity in the car.
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    Are there any dealer installed options (i.e., a rear spoiler) that can be residualized into a GMAC lease?

    I can't seem to get a straight answer. My dealer says no, but GMAC seems to say yes. However, they won't tell me specifically what dealer options would be considered.

    I really want to add a rear spoiler to the '08 CTS, but since I'm leasing and will return the car at the end of the lease with the spoiler, I don't want to pay the full MSRP on the dealer installed option.
  • clubmanager1clubmanager1 Member Posts: 7
    thought everyone would like to see these:
    10K miles
    24, 73%
    30, 68
    36, 64
    39, 63

    12K miles
    24, 71
    30, 66
    36, 62
    39, 61

    I assume 15K is an additional 2% off the 12K values. I was told the current buy rate is 7.15% (not sure I believe this?? sounds high) current gmac acquisition fee is 690. I was also told the 500 marketing cash wasn't applicable to leases, is this true??
  • zeenzeen Member Posts: 401
    A dealer in the Philly area advertises a CTS with an MSRP of $34,290 for a lease of $339 per month before tax for 39 months with $1995 cap reduction and bank fee (presumably $600 or so). Does this sound like a bait and switch?
    I really only want the base car with auto so this seems to be on target for me.
  • flightnurseflightnurse Valley of HellMember Posts: 2,217
    If you want a base car then it sounds like a good deal, BUT, Im sure they only have one of them on the lot, also watch out for the mileage, I'm beating that its a 10K/yr for that car.
  • zeenzeen Member Posts: 401
    Thanks for the advice. It is 10k/yr but that works for me.
  • clubmanager1clubmanager1 Member Posts: 7
    found out the buy rate is 6.10 or 6.15, one of the two.
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    I didn't receive any replies to this question when originally posted, so I thought I would post it again.
  • ronaldcronaldc Member Posts: 50
    I have leased a number of autos in the past 20 years. Some were from GMAC. It has been my experience that dealer installed options are not residualized. If you
    truly want a spoiler, even at full price, it should not cost much more than $20 per month on a 39 month lease.
  • bmwnewbie530ibmwnewbie530i Member Posts: 36
    Thanks, it was $22 a month + tax and financing costs on a 36 month lease.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi clubmanager1. I believe that what you were told is correct, the $500 dealer cash that is available on the 2008 Cadillac CTS right now is not compatible with its special lease program. However, the lease rate that you were quoted is too high. GMAC's current base lease rate for the 2008 Cadillac CTS is 6.1%. Make sure that this is the rate that the dealer you are working with uses to calculate your monthly payment. The acquisition fee that you were quoted is high as well. The last time I checked, GMAC's base acquisition fee was only $595.

    Prices Paid: Buying & Leasing Experiences Forum
  • bmw3434bmw3434 Member Posts: 64
    From what I have seen, the 2008 Cadillac CTS has a 63% residual for 10K miles and a buy rate of 6.1% for 39 months. Is this correct??? Local ads saying lease a new one for $369 per month plus tax with 3169 due at signing. Of course, this is plus plus plus. Just wanted to make sure I had the right info. Thanks in advance!!!
  • lsleeleelsleelee Member Posts: 14
    I'm a little off-put by GMAC's use of percentages instead of money factors. I know you can divide the percentage by 2400 to get an approximate money factor, but still...

    Does anybody know of a lease calculation formula that uses the %, rather than money factor?
  • nacho2nacho2 Member Posts: 82
    Hello Carman, this is what I have so far MSRP of $38,140,car has CTS standard package,ultra view sunroof,,all wheel drive, and automatic transmission. I believe that the invoice for the car is $35,200 am I correct?Dealer is selling the car for $36,500. 39 months,12k payment of $533.65 with down payment of $550 sec deposit,bank fee of $695, then tire fee,dmv dee,doc fee of $45. i am in upstate New York
  • nacho2nacho2 Member Posts: 82
    This is what I have been offered with GM employee pricing for an awd Cadillac CTS with MSRP $38140, and invoice of $35254,residual 61%,Money Factor .00254. with a selling price of $34,281.23 and down payment $650.50, I am at a 39months/12k lease with a payment of $483 including tax in upstate NY. I was told that my net cap cost is $35,718.04 with tax minus any rebates. Seems high?
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello bmw3434. The 6.1% lease rate that you mentioned is correct, but I believe that the 36 month, 10,000 mile per year residual value for a 2008 Cadillac CTS leased through GMAC would be more like 64%.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Greetings nacho2. You can look up the exact dealer invoice price of the car that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com. If this car's invoice price is indeed $35,000 and the dealer offered to sell you it for $36,500, it means that you are getting it for $1,500 over invoice. I suspect that you should be able to do better than that if you are in an area that has a decent level of competition. I personally would shoot for something more like $500 to $1,000 over invoice.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Ah ha, I see that you were able to get the CTS that you are interested in through General Motors' employee purchase program. This is a good thing because it means that you are going to get a great deal on your car's selling price. The money factor that you were quoted, .00254, is equivalent to an interest rate of around 6.1%. This is right in line with GMAC's current base lease rate for this car. If you like the car, I doubt that you are going to be able to do any better than the GM employee price + GMAC's base lease rate.

    Prices Paid: Buying & Leasing Experiences Forum
  • cjackson2cjackson2 Member Posts: 5
    OK, nobody go off on me for putting alot down. I know the risks. I just would like to know if I was treated fairly? These are the facts that I know for sure. The window sticker was $39685, I put $4500 down, 39 month lease, 10000 miles/ yr, qualified for friends and family discount, my payment is $397/mo which includes tax. Originally I thought it was a fair deal, but they sure came up with some fuzzy math on my purchase agreement to get to the $397/mo. I would really appreciate any feedback. BTW, the car is awesome!....CJ
  • nacho2nacho2 Member Posts: 82
    Carman, thank you for your help., I ordered the car and should arrive in 4 weeks. right now I am at $461.68 including tax on a 12k lease for 39 months with a drive off of only$554. The rep told me that the car will be here in March which is only good news because the Money factor could only get better and I will have a lower monthly payment than what I have now. Once again thank you for your help.
  • max1234bdmax1234bd Member Posts: 1

    I'm pretty new to buying or leasing cars so these might seem like stupid questions to most of you, but I needed some help. I've been to a few dealers websites and saw some new 2007 CTS for under 29,000. Will they still lease those 2007's and what would I expect to pay a month? I wasn't sure if they were doing any incentives or not and wanted to be a little more informed before going into the dealership.

  • mkadams9mkadams9 Member Posts: 25
    This maybe a stupid question but can somebody point in the direction of how to use these numbers to figure out what a least payment would be? Thanks
  • ddeliseddelise Member Posts: 353
    Here is what to do.

    Let's assume MSRP of $35k.
    Residual Value of 50% = $17.5k.
    36 months for lease.
    4% Lease Percentage (sometimes, this is called a money factor which in this case is .04/24 = .001667).
    Sell Price of Car of $33k.
    $1k rebate.
    $0 cap cost reduction.
    $600 lease aquisition.
    $500 dealer fee.

    Capitalized Cost = $33k - $1k + $500 +$600 = $33.1k.

    Your Monthly Depreciation = (Cap Cost - Residual )/ Months of Lease
    ($33.1k-$17.5k)/36 = $433.33

    Your Monthly Interest = (Cap Cost + Residual) * Money Factor
    (($31.1k + $17.5k) * 4%)/24 = $81.00

    Total Payment = $433.33 + 81 = $514.33, before taxes.

    In this example, I rolled the acquisition fee and dealer fee into the lease payment.

    Your startups would be first month payment, any registration, tag, title, and security deposit.

  • volonelvolonel Member Posts: 1
    I am looking at leasing a fully-loaded 2008 CTS that was used as a "courtesy car" during the super bowl. The msrp is $46,220; the dealer took off $1,500 as a result of the car's "courtesy" status, leaving a total price of $44,720. The dealer also offered to pay the last three lease payments on my existing CTS lease. The lease offer was $1,660 down payment, plus $719 monthly payments for 39 months (annual mileage of 12K). Fair? Thanks for any thoughts about this.
  • smithsongasmithsonga Member Posts: 123
    No offense, but that doesnt sound like a good deal. Not nearly enough discount and the lease terms must not be very favorable.

    $713 for a CTS? You could get into a 5-series BMW for much less.

    just my $0.02 tho.
  • bvdj84bvdj84 Member Posts: 1,724
    You are paying the last 3 payments, they roll that into the next deal, no way a dealer will be out. $719, is way too high. Yes, you can get many other cars for that kind of payment. You probably won't have much room to haggle. Way to high, I would work on it a little bit more, or just work on another CTS all together.
  • bullocmtbullocmt Member Posts: 2
    Here is what I've been offered:
    MSRP: $35500
    L.E.V.: 58%
    Lease end value: $20590
    Lease Term: 39 months
    Selling Price: $33500
    Cash Cap Reduction:$400
    Acq Fee:$595
    Adjusted Cap cost: $33695
    Lease APR: 6.1%
    Base Monthly Rental:$475.95
    Sales Tax: $1337.53
    Total Monthly Payment: $509.27
    Total UPF annual fee:$142
    Total UPF: $143.50
    Amount Due at start:$1232.82

    How good is this deal and can I do better?
  • bullocmtbullocmt Member Posts: 2
    Its 15k a year(miles)
  • jazz32jazz32 Member Posts: 4
    Can anyone tell me whether the GMAC base lease rate is regionalized. I have read on numerous posts that the base rate is 6.1, but all dealers in NE Ohio is quoting 7.1. Is there other factors that dictate what base rate dealers are allowed to use. I tried to get this info from Cadilac (see below) but they gave me an answer that leads me to believe that dealers can use whatever rate they deem appropriate for the market.

    Thank you for contacting Cadillac and for your interest in the 2008 CTS! We appreciate the time you have taken to write us.

    Lease incentives and resulting monthly payment amounts take many things into account which are not properly explainable over via email or over the phone. The MSRP of the vehicle, length of lease, capitalized cost reduction, residual value, interest rate, credit rating, and local market conditions will all effect your monthly lease payment. Due to the complicated nature of lease incentives, your preferred Cadillac dealer is in the best position to discuss this information with you.

    So do the way that the car is equipped dictate the lease rate? I was actually ready to purchase a vehicle until I saw the lease rate which I thought was extremely high.

    Thanks for your feedback
  • prosport35prosport35 Member Posts: 2
    I have been looking as well. Talked to a few dealers and been sitting on this for about 4 weeks. The cheapest rate is 6.1% set by GMAC. You have to use this is going for GMS pricing. If not, some banks may have cheaper rates.

    If you do not know any better, and they sell you are 7.1%, I do believe the dealer makes extra money. This even goes for buys. If they say you "qualify" for a certain rate, say 6.9%, there is usually some wiggle room because if they sell it higher they make more. I have seen about a 1-2% markup in rates for this.

    You should ask them to see there dealer sheet which shows you this, it is NOT a secret. Today there should be coming out with the next (this) months rates...
  • jazz32jazz32 Member Posts: 4
    Thanks for the info, I do have GMS and I would be more than happy with the 6.1 rate but I refuse to accept any deal at 7.1. I believe the popularity of the car has got some dealers a little exuberant and of the belief whatever they throw out people will accept. As much as I like the car, I don't like it enough to pay more than I thank is fair. What I explained to one dealer is that with such a high rate they put themselves pretty close to MB which I currently drive and who's being pretty aggressive with their negotiations.
  • saturn9saturn9 Member Posts: 2
    Date 3-3-08 - I have two questions - The first regards the residual percentage on a 2008 Cadillac CTS lease. Is this percentage the same throughout the United States or at least regionally? I am dealing with two dealerships that are about 20 miles apart and one is using 58% and the other 59%. (I realize this changes, but believe it should be the same at both dealers?) Secondly, I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58%). Do these numbers make sense?

  • saturn9saturn9 Member Posts: 2
    Date 3-408 - I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58% and APR 7.10. Do these numbers make sense?

  • tmasjrtmasjr Member Posts: 30
    I have a supplier price on a '08 CTS MSRP 42430 for 39370, but they are telling me the same 7.1 buy rate B.S. with about $1700 down. This sounds like a lot of money for a supplier pricing customer.

    Do I just tell them get it down to 6.1 or I don't want it? I ordered it because they dont have any equipped how I want, but don't want it badly enough to over pay. Not worth it. I've seen factors as low as 5.7 on here.

    How much affect does this have on the monthly lease payment at 39 MONTHS at 10k miles?

    Help, I was hoping to make a decision today. Thanks to all. Great info!!!
  • asteinbergasteinberg Member Posts: 138
    Blue tooth kept me from CTS. Dealer will add for around $500 a system which, in fact, gives me a desired second screen.
    Anyway, instead of (highly discounted to invoice) Infiniti G-35 or (substantially discounted) Lexus GS350, I now lean toward CTS.
    I can wait, if necessary, to get a better price or capitalized price.
    How much above invoice can I now get a CTS for?(Do I add in ad fee?)
    Is there a discount because I'm switching from a BMW 530I?
    BUY: What is GM interest rate for financing?
    LEASE: What is GM interest rate, or MF, for leasing CTS for 12,000, 15000 miles?
    Is there decreased interest rate or MF for multiple security deposits?
    Many thanks.
  • bill164bill164 Member Posts: 1
    the gmac lease rate is 6.1 % / dealers can mark this up one point to 7.1 %
  • asteinbergasteinberg Member Posts: 138
    Thanks for the information.
    Wow--a pretty high interest rate -- compared to what I had on my BMW subsidized list. It probably means if I went for a CTS, I would buy it.
    I can't make up my mind between Infiniti G35, LexusG35, or Cadillac CTS.
    I know they are different cars.
    I can afford the most expensive, but I have other things to spend money on, and I'm looking for value. They all seem similarly and have almost the same features.
    I'm more interested in performance than luxury, but want quality.
    BMW had awful navigation system, terrible user-unfriendly satellite/radio, making it hard to switch back and forth. All 3 of these cars are better.
    I can't figure out whether Cadillac CTS and Lexus G35 are worth the extra money. They all are a little tight in the trunk space. I was pleasantly surprised at the G35's immediate response to my voice for navigation system. I have not yet really looked that closely at Lexus LS350 or Cadillac CTS. The latter is a bit ostentatious for me.
    Nor have I looked into 3 year maintenance for all 3 (BMW was free).
    My preference is leasing (based on my past Audi, Lincoln, BMS leasing subsidies), but if I really like the car and the only feasible option is purchase, then I might have to do that.
    With these lease rates, the Cadillac is only viable with a deep discount (probably not in the cards) and/or a very high residual.
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