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2013 and Earlier Cadillac SRX Lease Questions

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're absolutely correct, bigliljen. To convert a lease rate to a money factor, one needs to divide it by 2400, so a lease rate of 4.8% would indeed be equivalent to a money factor of around .00200.

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    40yearfan40yearfan Member Posts: 102
    My wife drove an SRX yesterday and really loves it. The lease on her vehicle isn't up until December of this year, so I am not in a great big hurry to get another vehicle unless I can get a great deal. I am also considering buying my next vehicle instead of leasing it.

    I'm just wondering if anyone else agrees with me that the SRX might have some incentives before the end of the year and waiting to get one in November or December might get me a better price.
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    bigliljenbigliljen Member Posts: 28
    I just drove a 2010 SRX Premium pkg today in Cleveland and this is what the salesman told me: They lowered the finance rate to 4.32%, meaning a money factor of .0018, and the residual for a Performance or Premium pkg is currently 51%, (12,000 miles). I asked about extra security depo's, but he said Cadillac doesn't do that anymore. Anyone else know?

    Thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    As requested over in the CTS discussion, US Bank's current base lease rate for a 36 month lease of a 2010 Cadillac SRX is 4.32%.

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    rbirns1rbirns1 Member Posts: 311
    And what's the residual?
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    bigliljenbigliljen Member Posts: 28
    I was told at the dealership, 51% for both 36/39 and 41% for the 48 month lease all with 12,000 miles.
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    rbirns1rbirns1 Member Posts: 311
    Just visited dealer yesterday. Current deal is .0018 money factor, 49% residual for the top of the line premium version, 53% residual for luxury version. This is for 39 months, 12K miles (residual 1% less for 15K), $695 lease fee, subsidized by GM through US Bank. There are various $1K rebates for current owners and lessees of almost any GM or non-GM model, so it's basically available to everyone.

    Apparently they expect resale demand to be less for the top of the line version, hence the much lower residual. The premium version stickers around $48-50K depending on rear seat entertainment ($1295) and paint color (red is $1K more). Zero down lease payment is in the $770 range plus tax.

    The luxury version with navigation stickers around $42-45K, again depending on rear entertainment and color. Zero down lease is around $650 plus tax. These numbers are before any hard negotiation, though I doubt there is much wiggle room there.

    As far as I can tell, only differences between luxury and premium are 20" wheels vs. 18", AWD with real time damping, adaptive forward lighting, HID headlamps, ventilated front seats, rear seat climate and audio control, and heated rear seats. The luxury model already includes most of the other goodies like heated front seats, ultraview roof, power liftgate, etc., and most are equipped with navigation (which includes bluetooth and other functions, plus the popup touchscreen that really makes the car-- it's more than just a map). Are those other extras worth an extra $5K or $120/month? That's a big price difference.
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    jenp123jenp123 Member Posts: 39
    So are these lease deals considered a fairly good deal? I am really interested in the new SRX, I test drove the luxury version and got the price to a 39k plus ttl and not including the $1,000 incentive. This was with Navigation and w/ out the rear entertainment. I think the Luxury version is worth it, but the performance and premium costs are alittle outrageous for what you get.

    would like to hear more from people who have or are thinking leasing this vehicle and if this is considered a good deal.
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    rbirns1rbirns1 Member Posts: 311
    You must be talking about front drive not AWD. With AWD, luxury model with nav has MSRP of $42,625. I think 39K (1K below invoice!) is dreaming. With FWD, sticker is $40,130, and 39K is a reasonable deal. Invoice is $37,628, so I would say $1400 over invoice for a brand new model is about as good as you'll get. Not sure if residual for FWD is different than AWD. If it's the same, 39 month, 12K lease should be about $535, plus ttl and $695 bank fee.
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    bigliljenbigliljen Member Posts: 28
    Just found out if you don't want the 60 day return policy, they give you $500 in incentives.
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    durangojimdurangojim Member Posts: 3
    I am looking at leasing a FWD 2010 SRX with the luxury package. I am GMS elegible and the MSRP on it is $37,735 with GMS pricing of $34563.10. For a 39 mionth 12K lease with no money down and a $500 rebate (the $1000 rebate is going to the payoff of my CTS lease), they are quoting me $508/month. Does this seem like a good deal? I think it is but would like some reassurance. Thanks.
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    rbirns1rbirns1 Member Posts: 311
    Just drove the luxury version ("B package") to compare to the premium ("E package"). Found very little difference in the ride. Even without the adaptive suspension, car is still very smooth with very good handling. I think the luxury is the way to go, unless you desperately want 20" wheels, cooled seats, rear climate and heated rear seats--and are willing to pay $6K more for them.

    The common package on the lot seems to be luxury with AWD and navigation, MSRP $42,625. I was quoted lease price of $679 for 39 months, 12K per year, all taxes and fees rolled into the payment. Due at signing just first payment and DMV. NY requires tax (8.625% in my area) on all payments to be paid upfront, so rolling it into the payment incurs added finance charges. Therefore, other states probably have slightly lower lease payments. Still, at this price, I think this is a lot of car for the money.

    Just choosing my color now. Leaning toward grey flannel.
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    bigliljenbigliljen Member Posts: 28
    I too am leaning towards grey flannel but with the Performance pkg, and they are hard to find! I especially want a dark interior, ebony, and I'll definitely have to order one. I've seen the color up close, and I thought the chrome 20" would be too much, but it really adds to the color. Seems Luxury with that color is getting common, so hopefully you'll be able to find one easily.
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    bigliljenbigliljen Member Posts: 28
    Here is the complete ordering guide with all packages and options.

    http://www.scribd.com/doc/13603910/2010-Cadillac-SRX-complete-ordering-guide
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    jenp123jenp123 Member Posts: 39
    I don't understand why I have talked to 3 different Cadillac dealerships in the DC area and I swear they don't want to sell me the SRX! They will not quote me on any lease rates. One kept hounding me and until I talked about wanting money factor and residual values, that was the end of him. The other two are saying there is no current lease special, even though it clearly states on Cadillac's website that there is one. When I enter my zip code, it comes up under current offers. Well actually one dealer acknolwledged the lease promotion on Cadillac's website but was not comfortable with the offer. He said he doesn't like to offer his client bad deals, and he said that wasn't a good one. He kept talking about how it was US Bank too, as if that wasn't a good idea. I don't get it, am I missing something? He wasn't even trying to make me buy it out right, he was just saying as of now, it wasn't a good deal.
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    rbirns1rbirns1 Member Posts: 311
    The two dealers I have visited on Long Island NY have been very cooperative with lease offers. Both had no problem telling me the residual and MF (both gave the same numbers, thankfully) and applicable rebate for coming out of another lease (SRX Conquest $1000 offer).

    I only have one dilemma right now. I worked out what I believe to be a very good deal on the luxury B-package with navigation, MSRP $42,625. Pretty common configuration around here. My first choice is the grey flannel color with titanium interior. Dealer says they can't find one (I need car next week--can't order). They do have that combo in stock, but it has rear seat entertainment. I don't really want that, more importantly I don't want to pay extra for it. I would be willing to pay a few dollars more considering the color preference. The problem is the lease on that grey one. With the rear entertainment, MSRP goes up to $43,920. Dealer tells me that the current lease offer has a maximum MSRP which is lower than that. In order to work up a lease on that car, they need to use a lower MSRP. This means the actual sale price is higher in relation to MSRP, which causes the payment to be higher. Bottom line is this grey one with rear entertainment will cost $27/mo. more than any model without rear ent. If not for this "cap" on the lease deal, an extra $1295 option should only add about $15, more or less. I could live with an extra $15 for my preferred color plus the rear screens. But $27? I have a hard time justifying that. I may just settle for another color at a lower price. Maybe silver? I do like the titanium interior--works well with the black and chrome dash and center stack.
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    bigliljenbigliljen Member Posts: 28
    Hey, keep working those dealers! I had one in the Cleveland area quote me GMS $40,567 (MSRP $42, 465) on Grey Flannel Performance FWD w 20" chrome. I just ordered the exact car from a Chicago dealer, and got it for $39690, almost $300 below invoice! And I still an elgible for the $500 incentive, so my final cost will be $39190. So, I'm happy to wait 6-8 weeks. But, I agree the shale interiors are just too light, and will show everything....I got ebony with titanium accents.
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    rbirns1rbirns1 Member Posts: 311
    My dealer found the car I want--luxury model with navigation, gray flannel with titanium. They swapped an Escalade to an out of state dealer to get it (seems like unfair trade, but not my problem). After the swap it will have over 100 miles on it, but the 12K lease still leaves plenty of extra miles for me.

    Deal is $673/mo., with all upfront costs rolled into the lease. This includes $695 bank fee and NY sales tax, which is paid upfront on NY leases or financed into the lease. No security deposit. Due at delivery only first month plus DMV charges and sales tax on the $1K rebate (NY sucks). I'll have it Saturday. Full report to follow.
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    durangojimdurangojim Member Posts: 3
    That's a good price, but it's not GMS, it GM suppier, GMS is GM employee which is $38816.
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    bigliljenbigliljen Member Posts: 28
    You're exactly right, I typed in the wrong thing. I wish I had GMS!! All my family were Ford people!
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rbirns1. GMAC's current residual value for a 36 month lease of a base or Luxury 2010 Cadillac SRX with 15,000 miles per year is 51%. Unfortunately, I have not seen what US Bank's residual value is for this truck. I suspect that it is very similar, but I have not confirmed that it is.

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yep, bigliljen. Consumers who opt to go without the 60-day return policy receive an additional $500 cash incentive. So anyone who decides to take advantage of the return program is essentially paying $500 for the option to return their vehicle at some point in the next two months.

    I personally would never, ever pay that. I'll make darn sure that I like the vehicle I want before pulling the trigger on it and keep the five bills thank you. The return program seems sort of gimmicky to me, but who knows what message will resonate with the general public. The media claims that thus far the program has been a success.

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    baxterdownbaxterdown Member Posts: 36
    Hi Car_man,

    Can you please post Oct lease rates for the 2010 FWD SRX base and FWD Luxury? I am looking for:
    - Term (36 and/or 39)
    - MF
    - Residual
    - Miles (12K)
    - Acq. Fee

    I am located in Fort Lauderdale, FL. Have you heard of a supposed $1,000 conquest incentive in my area? I didn't see it on Edmunds.com. I only saw the $500 in lieu of the 60-day return....

    Thanks in advance for your help!
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    rbirns1rbirns1 Member Posts: 311
    The $500 in lieu of 60-day return does not apply to leases (you legally don't own the car, so you can't return it). I got the conquest incentive last week in NY. I believe it's national.
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    baxterdownbaxterdown Member Posts: 36
    Thanks for the clarification. That makes sense. A dealer quoted me today 55% residual with .0018 (4.32%) MF for 36 months on the luxury collection. 53% same MF for 39 months.

    He confirmed the $1K conquest incentive and called it regional. I'm looking forward to what Car_man has to say.
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    rbirns1rbirns1 Member Posts: 311
    Those numbers match my deal from Sept. Looks like the terms are unchanged for Oct.
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    40yearfan40yearfan Member Posts: 102
    How much capitalized cost reduction did you have to put down?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello baxterdown. Here's the info that you're looking for. General Motors is running its national lease promotion on the 2010 Cadillac SRX through US Bank.

    US Bank's October base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX FWD Base with 12,000 miles per year are 4.32% and 53%, respectively. The numbers for an otherwise identical 39 month lease are 4.32% and I believe 51%.

    I haven't seen anything on any sort of conquest cash on this truck this month. It's possible that it is a regional program that's only available in your neck of the woods.

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    Karen_SKaren_S Member Posts: 5,092
    A reporter is looking to speak to consumers who recently leased a GM or Chrysler vehicle in the past two months . Please send your daytime phone number to ctalati@edmunds.com by Thursday, October 8, 2009.
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    baxterdownbaxterdown Member Posts: 36
    Thanks Car_man. I appreciate the info! We'll see how it goes...
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    judygorlandojudygorlando Member Posts: 1
    We were told today by a Cadillac dealer that US Bank residual cap is $22,000 on a 2010 SRX. "Said US Bank cap the residual vs. using the % o MSRP for each. In years past it was a flat % no matter what the MSRP was, US Bank limits their exposure with caps on residuals on certain packages/models." To bad - nice car.
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    kdckurtkdckurt Member Posts: 6
    Car Man,
    What are the current lease residuals for a 2010 SRX premium through US Bank on a 36 month 36000 mile lease?

    Thanks
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    40yearfan40yearfan Member Posts: 102
    kdckurt, check out post #230 in this thread by Car Man. It has the info you requested.
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    kdckurtkdckurt Member Posts: 6
    Thanks.

    I thought the Premium might have a different residual than the base.

    My bad.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, baxterdown. Let us know how everything works out.

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    ambere10ambere10 Member Posts: 9
    HI Carman,

    I just purchased my Lexus IS250 and I am so greatful for all the help and guidance you provided!!! Thank you!!!
    I am now helping my mom research lease prices for the 2010 Cadillac SRX and I figured the forums would be the best place to start. She lives in NJ and is interested in the base model or the next one up which runs about a $36k MSRP. What is the current residual on a 15k mile a year lease and what would be a rough money factor...her credit isn't really all that great so I was wondering if you knew of a worse case scenerio #. Any help would be greatly appreciated! Thanks!

    Amber
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    bigliljenbigliljen Member Posts: 28
    Hey everybody,

    I will be picking up my SRX in a couple weeks and was wondering if the residuals or lease % rates have changed at all for this month.

    Thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Amber. Congrats on getting your new IS. You've been busy shopping for new vehicles. Be careful...it's addictive ;) .

    Here's the current lease program for the Cadillac SRX that your mother is interested in. GMAC's current base lease rate and residual value for a 36 month lease of a Base or Luxury 2010 Cadillac SRX with 15,000 miles per year are 3.55% and 48%, respectively.

    Normally one's credit score could have an impact upon what money factor or interest rate they are charged on their lease, however I believe that GMAC runs a sort of pass / fail system with its lease program. Either your credit score is good enough for you to qualify for its best rate or you can't lease through them at all. Furthermore, GMAC is one of the more lenient banks in terms of who it approves to lease and finance vehicles. Your mother should be able to lease through them unless her credit is really messed up.

    When your mother is negotiating her deal, make sure that she takes advantage of the $600 cash incentive that is currently available on leases of this truck through GMAC.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bigliljen. Please see my previous post for an idea of what this truck's current lease program is like. Let me know if you would like information on a different trim level, term, or mileage allowance.

    Car_man
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    bigliljenbigliljen Member Posts: 28
    Hey CAR Man,

    Well, looks like it'll be Dec now...GM never recieved the order! But they cut another $500 off, making the negotiated $39,197, and threw in a free set of mud guards....

    Anyway, it will be a FWD Performance w 20" chrome, 12,000 mile lease. Do you have the 36/39/48 terms, residuals, and with tier 1 credit, what is current MF?

    Is there really a $600 cash incentive?

    Thanks, I just want to make sure I'm fully prepared
    Bigliljen
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    dpixdpix Member Posts: 7
    rbirns1

    Im in NYC and looking to get into a SRX, would you recommend your dealer?

    Thanx
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    dpixdpix Member Posts: 7
    I am currently in the market for a new SRX, as you can see from my post above, and I am soliciting quotes from about 4 local dealers that have the car, color and options I'm looking for....... but I'm wondering why is it soooo hard to get numbers? I provide the VIN# I am interested in and yet I get replies of "come in and we can work out the numbers"

    Do the calculators only work when you walk into the showroom? :confuse: or am i missing something?
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    40yearfan40yearfan Member Posts: 102
    They figure if they can get you into the showroom, they can wear you down and talk you into a deal that is great for them, but not so great for you. Any of the dealers here in Arizona, if you give them the VIN #, they will quote you a price or a lease figure. It might not be the greatest, but it gives you a point to work from and a chance to make an offer to see if they will accept it.

    If they aren't quoting you a price, make a low ball offer to get the pricing started and see how they respond.
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    dpixdpix Member Posts: 7
    I actually get a GM Supplier discount through my job which according to the site will take about $2k off of the MSRP. I provided the VIN# of the car on the lot in my emails to them and when I get responses that I need to come in so we I can find out if you want the base. luxury or premium package :confuse: its insulting. I gave you the VIN of the car that you have in stock, smh

    Taking my business elsewhere
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    bigliljenbigliljen Member Posts: 28
    dpix,

    I also got a supplier discount on a Performance model w 20" chromes. The MSRP was $42425, and my discounted price was $40, 500. I kept looking around and found a dealer in Chicago wanting my business, and his cost was $39, 600, plus any incentive that nay be going on at time of pickup. So keep looking around, and get what you want.

    Good luck!
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    ny_joe1101ny_joe1101 Member Posts: 15
    Went and looked at an SRX today.

    2010 Luxury Pkg with Nav. $42k on the sticker.

    Was quoted 52% residual and 3.6% (.0015) money factor.

    This was on a 39 mo/12k lease. I was told residual was better on 39 mo and they don't offer 10k leases. Don't believe either.

    I was offered $1000 Conquest rebate and the car at $500 over invice as my cap cost. I also had $1300 in GM earning.

    In the end, the deal was $3200 at signing and $528/mo. I think I am going to wait another month or so and see if deals get better.
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    dpixdpix Member Posts: 7
    I finally found a dealer honorable enough to give me a quote and I was happy with the numbers. I decided to lease and go for the lower monthly payments. The car is being prepared for pickup tomorrow for me.

    This will be only my second car.... my first car was financed and totally paid off and I'm trading it in to the dealer.

    I'm getting cold feet as far as the lease or more accurately I'm on the fence, i would love the lower payments of a lease but I also like the ownership of purchasing out right.

    THE QUESTION, finally, is it too late to switch my deal from lease to purchase? I still have my car, haven't signed any of the plethora of leasing papers, i guess that will be tomorrow. Although, my insurance has transferred over but the registration has not to my knowledge

    Please give your opinions also... I read a lot online about leasing vs buying but maybe real life stories may help. Why did you lease or buy your vehicle?

    Thanks
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    40yearfan40yearfan Member Posts: 102
    The advantages of leasing are lower payments and being able to get a new car every 3 or 4 years (depending on the length of your lease). If you plan on always driving a fairly new vehicle and will have car payments all the time, you might as well lease. You don't have to worry about getting enough money for your trade-in and you can drive a more expensive car for less dollars than if you purchase it. You will also be driving a car that always has warranty on it.

    If you plan on keeping a car for an extended period and want to eventually quit making car payments, you should buy.

    I have been leasing vehicles for both my wife and myself for the last 30 years. I am planning on retiring shortly, so I purchased this last vehicle. I won't be putting the miles on it that I am now, so it won't be necessary to have a new vehicle as often.
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    tenzotenzo Member Posts: 24
    Chicago land. Looking for 2010 AWD luxury w/ Navi Black over black. $42K MSRP. Let me know who offer best deal in chicago. tenzo7700@yahoo.com Thanks.
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    lars1281lars1281 Member Posts: 36
    Great deal.. I am being offered a .0018 (4.32% rate from, US Bank. My credit score is in the 800's and this is before running credit.

    i'd take your deal in a hear beat.

    in philadelphia area
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