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2013 and Earlier Cadillac SRX Lease Questions

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Comments

  • nmannnmann Posts: 6
    Just a quick update...I was able to get them to drop the sale price to $36,200, thus making the final price $34,900. 39 Month lease @12,000/yr would be $539.62/mo (tax inclu). Due @ signing $1,885.62 (1st mo, GMAC acq., tags)

    The 48 month lease would be $526.20/mo (tax inclu). Due @ signing $1872.20.

    Any thoughts on this deal? ?
  • accardiaccardi Posts: 11
    was offered 479 fwd 3500 down and i really didnt push it but wait till last day of the month when there hungry at the dealers negotiate your best deal then say u want 15k not 12k if i find some of my notes i will post them,,
  • accardiaccardi Posts: 11
    i was offered a 39 month lease i think they work out the best
  • nmannnmann Posts: 6
    Thanks for your help - much appreciated!

    By the way, do you know if an $895 lease acquisition fee is standard for Cadillac? My understanding was that GMAC was only in the $595-$695 range. This seems high.
  • accardiaccardi Posts: 11
    there is 1000 conquest for a foreign car in your household i gave my parents address so i would qualify
  • accardiaccardi Posts: 11
    push for 15k miles at the same price
  • jakpennjakpenn Posts: 20
    Carman

    can you give me the latest numbers on srx lease deal please?
  • cbrvfrcbrvfr Posts: 1
    edited June 2010
    It took me hours of calls to get this down to a reasonable price. So here goes:

    on a 2010 Cadillac SRX with the following options:
    1. Luxury package
    2. Premium paint ($1000 option)
    3. FWD

    * $2400 down (including first month payment)
    * 39 months (shouldn't go over 48 months; why go higher as you'll be out of bumper to bumper warranty)
    * 12,000 miles per year
    * about $475/month (not including taxes)
    Note: there are no other expenses that you should have. Moreover, you should receive $500 back at the end of the lease which is a GMAC escrow with-holding.

    Now, a few things to consider:

    Lease options:
    ____ months
    ____ miles per year
    $___ down (including all fees and first month payment); no drive-off fees
    $___ to be held in escrow until end of lease
    monthly payment $___ (including tax $___ at ___% tax)

    Early termination fee: $ ___ (if you want to buy it before lease expires

    Wear and tear allowance: $ ___
    Residual Value (end of lease buy price/no disposition fees): $ ___ (plus $2500 can be added to buy option by GM)
    Close ended lease ONLY (this means they can't modify the buy out price if the market shifts and the value of the car drops
    includes gap payment/insurance: included with all GMAC leases

    We were lucky to find a great dealer (Hennessy Cadillac in Ga). They offered us a vehicle that was used as a demo (had about 2500 miles and was fully loaded including DVD and NAV). We got an excellent price that NO ONE could even come close to; I will not post the price as it's not a common thing that can be obtained from all dealers.

    I was very impressed with their professionalism (as some dealers were very pushy and demonstrated poor knowledge of their product). So, I am giving them a plug here.

    Hope my wife enjoys it. :)
  • tangier1tangier1 Posts: 5
    Anyone have the latest residual, money factor, any factory to dealer rebates or GMAC Conquest lease deals on 2010 SRX Luxury FWD? Turning in my 2007 Edge next month and ready to crunch some numbers soon. Thanks in advance...
  • nmannnmann Posts: 6
    Thank you so much for the info. Seems like you got a good deal. I just picked up my car on Friday from a dealer in Philly, here's the deal I got:

    FWD Luxury in Platinum Ice
    MSRP $39,230

    $1,800 due @ signing (1st+acq+fees)
    No Additional Cap Cost reduction other than GM Conquest incentives
    Mo. Pmt $503 includes 7% NJ tax

    I too went with the 39 mo / !2,000 mi/yr

    I think I did ok. The dealer 5 min. away wouldn't come close to the price (insisted that I must be misunderstanding the deal) and another offered to match if I came down "right this second". Overall, pretty easy transaction.
  • accardiaccardi Posts: 11
    ITS A TOUCH SCREEN THAT HAS WEATHER TRAFFIC I GOT A AWD POP UP NAV FOR 515 A MONTH,, I HEARD THE DEALS HAVE GOTTEN BETTER BUT VARY SO MUCH FROM DEALER TO DEALER
  • Hi jakpenn. The SRX' lease program varies by trim level, term, and mileage allowance. You never mentioned what any of these variables are, so I'll have to make some assumptions. Let me know if you want something different.

    GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 15,000 miles per year are 2.1% and 48%, respectively.

    When negotiating your deal on this vehicle, make sure to take the $800 cash incentive that is currently available on leases of it through GMAC into account.

    Car_man
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  • Hello tangier1. GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury FWD with 15,000 miles per year are 2.1% and 48%, respectively.

    General Motors is currently providing an $800 cash incentive on leases of this model through GMAC.

    In addition to that, GM is providing a $1,000 conquest cash on this model in certain regions. I would be happy to tell you if this regional incentive is available in your area if you tell me where you are.

    Car_man
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  • tangier1tangier1 Posts: 5
    Thanks for the quick response, Car_man !

    I live in Dallas so I believe the $1000 conquest cash is available here now (not sure of when this deal may expire). I did not know of the $800 GM cash but did see that there is a $750 cash incentive for USAA members (which I am). Any additional info on incentives,etc would be greatly appreciated.
  • You're welcome, tangier1. You're right, Dallas is one of the areas that the conquest cash is available in. To the best of my knowledge, the lease cash, conquest cash, and USAA cash are really the only cash incentives that are available on the 2010 Cadillac SRX right now.

    Car_man
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  • moose08moose08 Posts: 4
    Car_man. I'm assuming the money rate doesn't change based on mileage, so it should still be 2.1%. But can you provide me residual on the 2010 Cadillac SRX Luxury AWD at 12k/yr?
  • Hello moose08. You are correct, the mileage allowance does not have any impact upon the lease rate.

    GMAC's residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 12,000 miles per year is 50%.

    Car_man
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  • rss62rss62 Posts: 2
    Car Man:

    Any thoughts on GM's willingness to allow a buyout of a 2007 SRX end of lease for less than residual value of $24997? The SRX V6 has 29,000 miles. If you need more info, let me know.

    Thanks.
    RS
  • leasing_ladyleasing_lady Posts: 4
    edited June 2010
    Hi Car_man,

    Will you please tell me the money factor and residual for a 39 month lease with 12K miles per year on a '10 AWD Luxury with Navigation. Would a 36 or 39 month lease be the better option? Are the numbers significantly better for a lease with only 10K miles per year?

    Also, I was offered the $1000 Conquest incentive, but not the $800 cash incentive in my lease quote. Do I qualify for both incentives if I live in NYC?

    Thank you so much for your help!
  • tangier1tangier1 Posts: 5
    Car_Man:

    Dallas-area dealer advised GMAC 36-month leases (12k or 15k) now have 48% residuals (not 50%) with a "non-negotiable" security deposit and lease termination fee required. US Bank lease residuals are quoted at 51%. Any thoughts on this?

    Also, are there any current factory to dealer incentives? Do you know of any additional cash to customer incentives that will extend beyond June 30, 2010?

    Thanks !
  • cnote2cnote2 Posts: 136
    SRX FWD with Luxury. MF and residual for 39 month 12k lease. thanks
  • Hi nmann,
    That sounds like a great deal! Would you mind telling me the name of the dealership in Philly? I'm interested in leasing an SRX also.
    Thanks!
  • hattie06hattie06 Posts: 1
    Looking at an AWD Perf Pkg SRX. Does anybody know the best rate going. I checked and it looks to be around $580 with $1800 down with 12,000 miles. Thanks AC07
  • nmannnmann Posts: 6
    Hi Leasing Lady,

    I leased through Hill Cadillac in Newton Square. I dealt directly with the Internet Manager (who is also the owner's son). They emailed me a firm price very quickly and were extremely responsive to all my emails and calls. Really good experience! Good luck!
  • cnote2cnote2 Posts: 136
    sorry for the rush, trying to finalize a deal and want to verify numbers, 39m 12k for a srx fwd lux

    thanks again
  • accardiaccardi Posts: 11
    i pay 515 a month on a lux edition awd with pop of nav by the way i love this option it does so much more,,i put my 2003 trailblazer down which they said was 5000 bucks had 125,000 miles on it so that was my money down and tax,, now with the car i found they bought the car as a swap with another dealer 37,000 was their cost
    i also had received a conquest 1000 rebate off ,, now u are getting a front wheel drive they tried to quote me 535 a month the fwd is cheaper than the awd so you should be at 465-485,,,i figure their cost on the car is about 35 grand since the awd is 37
  • leasing_ladyleasing_lady Posts: 4
    edited June 2010
    Nmann,
    Thank you so much for the info. I will definitely get in contact with them. Hope you are enjoying your new SRX! = )
    - Leasing Lady
  • accardiaccardi Posts: 11
    what numbers did u get for the lease and what options
  • nmannnmann Posts: 6
    I got FWD Luxury w/ platinum ice paint (only extra $). I don't remember the residual or money factor but worked out to $468/mo +7% tax; $0 cap cost; $1800 (tags+1st+acq); [email protected],000mi/yr
  • Hi rss62. Interestingly, I actually have seen anecdotal evidence here on the forums that not only is General Motors not willing to negotiate the end of term purchase option prices of its leased vehicles, but that on new leases it is actually charging $2,500 over vehicles' residual values to buy them :confuse: . Very strange indeed, but I have seen it mentioned enough times to believe it.

    It wouldn't hurt to place a call directly to GMAC to see if they would be willing to work with you, but chances are they won't.

    Car_man
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  • Hi leasing_lady. Great name :) . Here's the information that you're looking for.

    GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 12,000 miles per year are 2.1% and 50%, respectively.

    The lease rate for a 39 month lease is the same, but its residual value would be 2% lower.

    Add 1% to the residual values for leases with only 10,000 miles per year.

    The $800 cash incentive on leases through GMAC is available in your area. Make sure that the dealer takes it into account.

    Car_man
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  • Hi tangier1. It is virtually impossible for 15k and 12k leases to have the same residual value. 48% is GMAC's 36-month, 15k residual value for the 2010 Cadillac SRX Luxury. One needs to add 2% to that to convert it to 12k.

    As far as cash incentives go, General Motors is currently providing an $800 cash incentive on leases of the '10 SRX through GMAC.

    These programs are scheduled to run through July 6th. It is difficult to say what this vehicle's lease program will be like after that date. I suspect that it will be similar to, but not exactly the same as the current program.

    Car_man
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  • CarMan@Edmunds[email protected] Posts: 38,515
    edited June 2010
    Here you go, cnote2. GMAC's current base lease rate and residual value for a 39 month lease of a 2010 Cadillac SRX Luxury FWD with 12,000 miles per year are 2.1% and 48%, respectively.

    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.

    When negotiating your deal, make sure to take advantage of the $800 cash incentive that is currently available on leases of the 2010 SRX through GMAC.

    Car_man
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  • leasing_ladyleasing_lady Posts: 4
    edited June 2010
    Hi Car Man,
    Thank you so much for the detailed info. Do you happen to know if GMAC released their rates and incentives for July yet?

    You are awesome. Can I take you to the dealership with me? ;)
    - Leasing Lady
  • HA. Thanks leasing_lady :blush: .

    General Motors' current lease program is scheduled to run through July 6th. It hasn't told dealers what its new July program will be like. Please feel free to check back with me some time after the 7th and I will be happy to fill you in on the details of the new program.

    Car_man
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  • 2010 Cadillac SRX Luxury FWD nothing extra

    $515 with tax included
    $2,000 down (includes 1st+tax+title+etc)

    39months/ 15,000
  • Hi needhelp30. The easiest way for me to tell how good a deal this offer is is to look at this vehicle's MSRP and selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers it is more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate.

    Let us know what these numbers are and I'm sure that either myself or another knowledgeable community member will let you know what they think.

    Car_man
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  • breese2breese2 Posts: 3
    Orando, FL. Looking to lease SRX 2010 Performance pkg + chrome wheel upg., 36 month, 15k miles/yr...best deal I can negotiate...RV 45%, money factor 0.00125, Car Price $41213(I have a friend of GM certificate and this is preferred pricing...regular MSRP is $42925, In essence $718/month with approx $1300 (incl 1st month pymt) at signing. July-Aug edition of ALG specifies 47% residual for the above duration/mileage...cannot get them (2 dealers) to get to that RV..they are also insisteing on a security dep or GM Protect pkg (waives sec deposit + coverage for 5K xcess wear and tear + an allowance for up to $200 in xecess mileage charges. 2011 Models out in 1-2 months. I would love to hear comments.

    Brad
  • breese2breese2 Posts: 3
    Also $1950 non-cash cap reduction (given by GM for all lease deals)...no incentive programs available;

    Brad
  • maximafanmaximafan Posts: 592
    Breese2, I would definitely keep shopping around at different dealers. Your monthly lease payment seems really high, and all of the restrictions they're putting on your lease agreement seems a bit extreme. I know there hasn't been much feedback on what folks are paying for leasing the "performance SRX", mainly the Luxury model, but even then, I've seen lease payments on the Luxury model from anywhere of 515/month to 550 a month.

    If it were me, I don't think I would accept anything more than 550 to 600 a month for a lease on a "performance SRX.

    Maybe carman can help you out with some numbers. Good Luck!
  • brona98brona98 Posts: 1
    Hi, I've been recently shopping around for a new vehicle and I'm interested in a 2010 Cadillac SRX AWD Luxury Collection with navigation option.

    I am hoping someone can familiarize me with current GM promotions for the SRX in terms of leasing. I am in NYC.

    The invoice price on the vehicle is 40,643. MSRP is 43125.00

    The following is a copy of the offer I was given by the dealership i went to, and I feel like I am getting ripped off:

    MSRP: 43125.00
    Total Mileage Limit: 39,000
    Residual %: 49.00%
    Lease End Value: 21.131.25
    Rebate: 1950.00
    Term: 39
    APR: 2.000%
    Initial Cap Cost: 43,125.00
    Total Add Cap Costs: 895.00
    Total Sales Tax: 2,431.24
    Adjusted Cap Cost: 44,501.24
    Base Monthly Rental: 654.42
    Security Deposit: 675.00
    Total Annual Fees: 10.00
    Total Initial Fees: 87.50
    Amount Due At Start: 1,426.92
    Mthly/Ann Mile Limit: 1,000
    Total Monthly Payment: 654.42

    I also have $1000.00 of available earnings off a GM card and currently in a GM Lease that will expire at the end of this month, so I am expecting some kind of loyalty.

    I feel as if the capitalized cost should be the invoice price at least.

    Any input would be greatly appreciated. Thank you.
  • delta737hdelta737h Posts: 626
    edited July 2010
    brona98,

    Dealers try to make as much money as possible. You're deal proves that you're no exception. Unless the demand for an SRX in NYC is such that they're able to get MSRP, you're paying MSRP! The sell price in your deal is, indeed, the MSRP of 43,125.00. What they're calling the initial cap cost is the sell price or, what is commonly called the "Agreed Upon Value", in lease agreements. You need to check Edmunds invoice pricing for this vehicle. They'll also show available incentives which should be deducted from the invoice. Also, check overstock at zag.com to determine the lowest selling prices in your area. What is the 1950 rebate? Is it a true rebate or, is it a dealer discount?

    Sales tax is a huge factor; especially in NY. I'm not able to confirm your taxes because you didn't provide your sales tax rate and didn't itemize some of the fees and so, I'm not able to assess what's taxable and what isn't taxable. Also, I have no clue what "total add cap costs" of 895 means. These should be itemized. I suspect that this figure includes GMAC's 795 acquisition fee. It's possible, however, that the dealer inflated this fee by $100. You need an itemization as well as an itemization of all upfront lease charges ($1,426.92).

    The first thing you should do is take some time to understand how leasing works. Learn the terminology, basic calculations, etc. For whatever it's worth, let me share some guidelines I use when leasing...

    1st Rule Do your homework. Research selling price by checking invoice pricing and incentives at Edmunds. Also, check overstock at zag.com for competitive sell prices in your area. Research the money factor and be sure you're getting the "buy" rate if your credit is good enough to qualify.

    2nd Rule Create a one-page lease proposal. It must be on your letterhead and be a very professional looking document. All calculations must be spot on and contain no errors of any kind. Include all pertinent data such as a description of the vehicle, MSRP, sell price, amounts capitalized (e.g., taxes, acq. fee, etc), cap reductions (e.g., trade, cash down, etc), money factor, residual factor, residual value, term, taxable payment, lease payment, amounts due up front (itemized), contract provisions (gap insurance, excess mileage charge, applicable disposition/purchase option fees). All dollar amounts are calculated, not by the dealer, but by you using a program that you created.

    A professional looking one-page lease proposal speaks volumes about you... it sends the message that you know and understand leasing. That quickly serves notice to the dealer, and so; they're not as inclined to play games.

    3rd Rule Fax/email the proposal to the dealer and negotiate via phone/email from the comfort of your home/office with your laptop excel spreadsheet lease program fired up and ready to rumble! The only thing you're likely to negotiate is the sell price and that only requires a few keystrokes on your laptop. And, bing-bang-boom you're done! This suggests that the biggest advantage of a lease proposal is that it saves time, money, and aggravation.

    If you like, email me at

    diffeqzoominternet.net

    and I'll send you a few sample lease proposals.

    The key is that you must control the deal. Never allow a dealer to control the deal by allowing them to "run the numbers". Trying to figure out the dealer's numbers is often a pointless exercise and, frankly, a waste of time unless, of course, you have a copy of their LEASE WORKSHEET. This is a computer generated document that eliminates confusion and guess work and will tell you everything you need to know and then some. The beauty of this document is that it always tells the truth. Allowing the dealer to control will only end up costing you more money in most instances.

    If you agree to allow the dealer to "run the numbers", ALWAYS ask them for their LEASE WORKSHEET. If they refuse to give you a copy, RUN; DON'T WALK! However, there is absolutely no reason for the dealer to refuse to give you a copy of their lease worksheet.

    A note on GMAC leases...

    GMAC use interest rates; not money factors which is okay. All calculations in your deal have been done correctly and in accordance with GMAC criteria EXCEPT; I haven't been able to confirm the taxes as noted above. One problem with GMAC Smart Leases is this...

    They continue their long-standing practice of cheating lease customers by discounting the residual one month nearer to the present (i.e., R / (1 + i)) where R is the residual value and i is the montlhy interest rate. This causes the monthly payment to inflate by a few dollars. This grossly flawed and totally irrational practice flies in the face of reason and is mathemtically, financially, and actuarially unsound.

    Inappropriate or skewed computations only serve to justify the rationale for incorporating standard computational methods in the Federal Reserve Board’s Regulation M (Consumer Retail Leases) paralleling those of its Regulation Z (Truth-in-Lending) cousin.

    Yup, that's all we need is more government regulation which translates to more bureaucracy; more government drones; more corruption; and MORE WASTE!

    I hope that this has been more helpful than confusing. Questions? Please let me know.

    John
  • madeindetroitmadeindetroit Posts: 2
    edited July 2010
    Car_man - Do you know what the current residual and lease rates are for a 2010 SRX Luxury AWD, with 15000 miles for 36 months are as of today?
  • Here you go, madeindetroit.

    GMAC's current base lease rate and residual value for a 36 month lease of a 2010 Cadillac SRX Luxury AWD with 15,000 miles per year are 2.0% and 47%, respectively.

    When negotiating your deal on this truck, make sure to take advantage of the $1,950 cash incentive that is currently available on leases of it through GMAC.

    Car_man
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  • suzay22suzay22 Posts: 11
    Any rates on the 2011 39/39K or 36/12 AWD SRX yet?
  • Hi suzay22. General Motors introduced a special lease rate of 3.35% for leases through GMAC and 1.56% for leases through US Bank on the 2011 Cadillac SRX for 36 and 39 month terms through September 7th.

    Car_man
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  • hi I am just entering into the market to lease a new 2010 or 2011 Cadillac SRX
    Lets just say the sticker price is 44k - with $1500 down , 15k miles ,
    and 36 or 39 month lease.

    I am wondering ballpark about what my monthly payment should be?
    Any help would be appreciated. Thank You, Chris
  • Heyy...can someone please advise me on the following quote I received from a long island dealer...I feel it can be better.

    2011 SRX AWD Luxury Package + Navigation
    27 month lease
    10K
    $3400 - according to them it is just the taxes(8.875% for NY), first payment, inception fees, lic, reg, etc...i but that sounds pretty unrealistic
    $499/month

    Thanks so much!
    Bklynt525
  • Hi,

    I just leased a SRX Luxury model 2011 in California September 10, 2010! GMAC is offering 24months @ 459.00 plus tax $2995 down after all taxes it came to $510.00 depending which state your in. I was lucky to find a GMAC certificate that was valid for $1500 that they sent to me because I was an old Cadillac customer in 2004 keep looking for Certificate offers maybe google GMAC for them?

    This deal is great for 24 months! Hope this helps.

    Alloy
  • Thanks Car_man...........can you tell me what the residual value is for 36 and 39 months? Thanks.
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