2013 and Earlier Cadillac SRX Lease Questions

harry1943

car_man, thanks for the info. I think the rate on the lease will be between 3.5% and 4.5%. The salesman will get back to me. I'm picking up my SRX next week.
Thanks again for your input! I am happy with my deal. I currently lease a 2004 ML 350 and the SRX has more equipment and is a very nice ride!

ericzoom

Thanks. Good luck to u too. It sounds like your deal is even better than mine, considering you would be getting the Lux. package which is about 2500 more than the utility package.
I also had the 1639 dollar points built up on my GM card, which is what i used, so in essence it meant no out of pocket cash layout.

smokiejoe

Thanks Car Man:

I have Factory ordered a vehicle, (its built and on a Rail Car right now) and when working out the lease payments per your information posted, I look like I have a better deal. Also my dealer offered a 48 month 12K per yr. lease at a decent amount lower than the 39 month, so I went forward with the deal.
I have compared this vehicle to many other luxury vehicles out there and could not touch the deal that I worked out.
MDX, FX35, X3, MKX, RX350 all were $5K to $10K more dollars on overall deal with payments and out of pocket cash.

ericzoom

I didn't even think you can order a vehicle anymore, especially for a lease. They usually want to deal from stock. Of course the lease payment will be lower with a longer term.

smokiejoe

Dealers will usually guide you to a stock or a "locate vehicle", but if you are a non-conformist and persistant they will order you a vehicle.
Also I wanted a little different option combination on an SRX Sport package vehicle.
I knew they could not locate one. I also won't have to pay any extra floor plan inventory costs..

ericzoom

I thought the incentives on this vehicle were based upon in stock ones only. The dealers usually want to get rid of the vehicles left on the lot, because they are paying for them.
I'm curious what kind of deal there giving you. How much of a down payment do they want?

smokiejoe

When you get (6) Cad dealers bidding against themselves, also the car is not killing them on the Sales figures, you can try to run the numbers down.
Putting about $800 down. 1st month payment and a few extra bucks.
Deal is in the high 4's. MSRP around $47K
The goal is to try and get them to dive into their holdback.

ericzoom

So with your $800 down, 1st month, and a few extras yr probably around the same as what i gave them.
I agree the SRX hasn't been flying off the lot, so the dealers are bidding against each other pretty aggessively. At least it's a good time of the year to be dealing for a new vehicle.

surviveone

2008 SRX, v6, awd, 39 month lease, 15k miles,
w/ 3rows, sports, preminum luxury, utility, navigation, sunroof.
0 down. $1,550 out of pocket(tax, 1st month, etc)
msrp 50k, invoice 46k, my magic # 44k!
$620 month
I got it today.
What do you guys think?

miked22

Just bought a beautiful 2008 AWD SRX in white at Gold Coast in NJ. MSRP $52,000. I haven't purchased a domestic car in over 25 years and the process was strange. I got $3400 in total rebates and put down about $2000 total out of pocket for a 39 month 15K lease for $640 per month including tax. I think I did OK. If I bounced to a few dealers I may have saved a few dollars. This is a local dealer that had exactly what I was looking for. Its only 3 days old and I love it. I hope it holds up well, I have had 3 Lexus vehicles in a row and they were always perfect. There was something about this car that made me buy it.The only current concern I have is the gas mileage has not been close to the estimated mileage.

ericzoom

From what i gather you didn't purchase the vehicle, it was leased.
As far as gas mileage, i find the same thing on my SRX V6. That's also with the revised mileage figures, which are supposeibly more real world estimates.

miked22

Sorry that's a lease. Can I get some V6 gas mileage numbers from other owners? Will this improve? I used to get about 25 with my Lexus RX highway. I hoped to get at least 20 with the Caddy. It is a larger vehicle. Right now I am getting about 17 highway and close to 10 city (ugg).

surviveone

miked22,
I got a similar deal ($620)
Did you get the same options?(Check previous post)

sheepdog1

I have an 06 SRX V6 and live in downtown Fort Lauderdale with urban driving, I average about 15-16 MPG city with A/C on. I have gotten high has 25 MPG highway driving close to 80! It is a great vehicle. Most highway driving I get in the low 20s.

CarMan@Edmunds

Congratulations on getting your new SRX, ericzoom. Thanks for taking the time to share the details of your lease with everyone. Don't forget to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

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CarMan@Edmunds

You're very welcome, harry1943.

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CarMan@Edmunds

Hi surviveone. A selling price of $2,000 under dealer invoice is an excellent deal on a lease of a 2008 Cadillac SRX. This is below dealer invoice, even after taking the $1,450 lease cash that GM is providing on this model into account. Just make sure that the dealer that you are working with uses GMAC's current base lease rate of 4.0% to calculate your monthly payment and you're all set.

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ericzoom

Thank you, Car man.
My wife loves driving the SRX. It's like years ahead of my old 05' Buick Terraza.
I will stop by that section, and post info. on my dealer.

chrism124

Can you provide me with the m.f. and residual for a 08 SRX V8 based on 12k miles per year. I would be looking at a 24, 36 & 39 month lease. It seems that the sweet spot for leasing a Cadillac is 39 months.

Thanks,
NHman

polara60

The Edmunds forum lists $2500 in Mktg Support for the SRX . How do I know if my dealer has this support for the SRX? Doe this in essence give them $2500 more headspace below invoice? Just trying to get the correct starting price. Thanks in advance!!

CarMan@Edmunds

You're very welcome, ericzoom. You're right, the SRX is a ton nicer than the Terraza. I'm glad that your wife likes it.

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CarMan@Edmunds

Here's the information that you're looking for, NHman. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Cadillac SRX V8 with 12,000 miles per year are 4.0% and 65%, respectively. The numbers for an otherwise identical 36 month lease are 4.0% and 56%. The numbers for a 39 month lease are 4.0% and 55%. 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. So, a lease rate of 4.0%, would be equivalent to a money factor of around .00167.

When negotiating your lease on the SRX that you are interested in, make sure to take advantage of the $1,450 cash incentive that General Motors is providing on leases of it through GMAC. This cash will help you to negotiate an attractive capitalized cost for your lease.

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CarMan@Edmunds

Hi polara60. I believe that General Motors is currently providing $2,500 dealer cash on the 2008 Cadillac SRX. This cash incentive is available to all dealers, regardless of what part of the country they are in. Unfortunately, I do not think that it is compatible with GMAC's special lease program. You can only get it on SRX models that you pay cash for, finance through GMAC, or finance through an independent bank.

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aureachase

Dear Car Man:

Could you please provide me with the money factor and residual on an 08 SRX loaded based on 27 and 39 month leases? I have leased my Escalade ESV with a 15000 mileage allowance, but need about 17,500 miles per year. Why does cadillac do 27 and 39 month leases and BMW and mercedes do 24 and 36 month leases? Thank you for your consideration.

Aureachase

CarMan@Edmunds

I'd be happy to help you out, aureachase. GMAC;s current base lease rate and residual value for a 27 month lease of a 2008 Cadillac SRX V8 with 15,000 miles per year are 4.0% and 62%, respectively. the numbers for an otherwise identical 39 month lease are 4.0% and 52%. As you can see, GMAC publishes lease rates instead of money factors for vehicles. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. You can do 24 and 36 month leases of Cadillacs if you want. The residual values for 24 and 36 month leases are 1% lower.

15,000 miles per year is the highest mileage allowance that GMAC publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

When negotiating your lease, make sure to take the $1,450 lease cash that General Motors is currently providing on this model into account.

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tcw1965

I just came from my dealer and here were the numbers I was quoted there for a 2008 SRX 39 month lease with 12,000 miles/year -- 4% lease rate, residual of 54% and lease cash of only $950. Please let me know if these are accurate numbers for SE Michigan and if not, what the actual numbers are. Thanks.

ericzoom

So what were the total numbers they gave you ?

Down payment, monthly amount, Negotiated price?

tcw1965

I never negotiate on payment of any kind, so the other numbers i'm fine with. I have just seen on here that there is $1450 lease cash and the dealer checked and said that there is only $950. Also, on here I've seen that the residual for 39 mos w/ 12,000 miles is 55%, but he says that it's 52% for 36 mos w/15,000 miles less 1% for the additional 3 months, but plus 3% for 12,000 miles = 54% ( not 55%). He also verified the 4% rate. I was just trying to find out why there is the 1% difference on the residual value and the $500 difference on lease cash. thanks.

sheepdog1

Hey Carman my 24 mo SRX lease is almost up, what are the latest programs in FL, 24, 39 mo, low mileage leases?

hamom

Hi..I am interested in a 2008 SRX...AWD, luxury package.....can you please help
me with a "good" price for a lease on this. I would be looking for 15K miles a year for 36 or 39 months..whatever is better....no money down...except for taxes and fees. I live in NJ..tax is 7%. Thanks!