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2013 and earlier Cadillac CTS Lease Questions
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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)
TOTAL CAPITALIZED COST: $39534.15
ADJUSTED CAP COST/RESIDUAL VALUE: $26904.15
This is for a 39 month lease at 10,000 miles per year.
(Hope this is what you wanted)
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
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!
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.
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.
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.
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.
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??
I really only want the base car with auto so this seems to be on target for me.
THanks
truly want a spoiler, even at full price, it should not cost much more than $20 per month on a 39 month lease.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Does anybody know of a lease calculation formula that uses the %, rather than money factor?
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?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
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.
Thanks.
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.
Damon
$713 for a CTS? You could get into a 5-series BMW for much less.
just my $0.02 tho.
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?
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
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...
CLL
CLL
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!!!
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.
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.