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2014 and Earlier Cadillac Escalade Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Cena. There's nothing wrong with trading in your current vehicle when you lease a new one. Are you currently upside down on your truck (owe more money than it is worth), or do you have equity in it? If you have equity, it would be in your best interest to have the dealer that you are working with cut you a check for it rather than using the proceeds from it as a down payment for your lease. If you owe more than it is worth, you are going to have to either pay money out of your own pocket or roll your negative equity into your new lease to get out of your truck.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shfawaz. GMAC's current base lease rate and residual value for a 24 month lease of a 2007 Cadillac Escalade 2WD with 15,000 miles per year are 6.15% and 56%, respectively. 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. I believe that GMAC's current lease acquisition fee is $595. GM is providing $1,500 lease cash on this truck right now. Make sure to take this cash into account when negotiating the capitalized cost for your lease. Unfortunately, GM's President's Day sale is only available on Buick, Chevrolet, GMC, Pontiac, and Saturn models, not Cadillacs.

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  • shfawazshfawaz Member Posts: 27
    Can you review your answer-56% residual for a two year low-milege (10,000) lease? Lower residual for a 24 month lease than that of a 39 month. I think you made a mistakee. Can you double-check please. Thanks!
  • louisvlouisv Member Posts: 4
    There is equity in my EXT...between 4000 -5000 dollars and i still owe 3 years of payments. It really bothers me to be paying 3 more years on an older body style (2005)
    cadillac. To me that just doesn't sound smart. I also feel that dropping to a tahoe,even
    though i love them, is a step-down. The dealer has offered me $4000 cash back for my
    truck and a LTZ for around $550 a month lease...then if i love it i should purchase it
    at the end of the lease. any comments?

    Cena
  • monkeyshiftmonkeyshift Member Posts: 87
    Hi Carman,
    Wondering what GMAC's lease rates and residuals are for March for the Escalade and ESV for 27 and 39 months with 10k miles? Thanks!
  • shfawazshfawaz Member Posts: 27
    Add to that the 24 month 10,000 mile lease rates for the Escalade for March too.
  • shfawazshfawaz Member Posts: 27
    sigh
  • monkeyshiftmonkeyshift Member Posts: 87
    agreed
  • shfawazshfawaz Member Posts: 27
    Went to a dealer today, got the scoop. On a 24 month GMAC low mileage lease the residual is 70% with a money rate of 6.15% and bank fee of 595. There is currently $2,500.00 (started yesterday) cap cost reduction (bonus cash) on the Escalade. I was told that the residual drops to 69% if the Escalade has the $2999 22" aluminum wheels. I also read on AOL that GM is offering a whopping $6,500 rebate on the Escalade ESV or EXT (purchase). Of course, that never carries over to leases, but I'd be curious to know how much of that does, although a $2,500 cap cost reduction isn't too shabby.
  • monkeyshiftmonkeyshift Member Posts: 87
    thanks, let me know how you're lease comes out, I too am looking for a 24 month, 10k lease on either the escalade or a loaded denali.
  • shfawazshfawaz Member Posts: 27
    I priced a $64,000 2WD Escalade using my GMS employee discount pricing and with 6% Florida sales tax and the $2,500.00 cap cost reduction, the 24 month low-mileage lease came to $599.24/mo, a phenomenal deal. Sadly, I may not be able to take advantage of this since the GMAC lease pull-ahead offer is pretty lame, they're only willing to waive two of six remaining payments, leaving me with 4 to cover myself, something I probably won't do. This first time I did lease pull-ahead GMAC waived 8 months of payments, the next lease they waived is six payments, and my last lease, they only waived a measly 3 payments.

    With the way sales are going now, (two different showrooms I visited were like a ghost-town) you'd think they'd improve the pull-ahead program instead of diluting it. Typical GM arrogance I guess. Guess I'll have to revisit this in four months, if at all. Two months of waived payments is hardly incentive enough "LOYALTY" as far as I'm concerned and could ultimately lead me to explore other non GM offerings. With family that works for both Ford and Chrysler, I have plenty of choices.
  • briansowabriansowa Member Posts: 1
    Hi everyone...

    Looking at doing at lease of a 2007 Escalade, but the quote seems high to me.

    48 months - 15,000 miles/year

    MSRP 65,690
    Supplier Price - 60,919

    I am going to be about $11,000 in the hole on my trade in.

    The dealership told me there was an "enhanced" residual of 47% and that there was $2500 bonus cash? Does that sound right?

    The payments they quoted me was $1193/month.

    Does that sound right?
  • mil6753mil6753 Member Posts: 71
    "Enhanced" residual - sounds like they took 12% off to enhance. This sounds like pretty bad quote you received. I got mine in October and residual was at 56 or 58%. MSRP 64800, negotiated price was in mid 50's. Base payment on 3 year lease was just under 800.
  • achadha1achadha1 Member Posts: 65
    Has anyone got good deals on Smart Buy? This is similar to a lease but you have a choice of giving the car back for 250 bucks or making a ballon payment at end of a 4 year or 5 year term.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey monkeyshift. GMAC's current base lease rate and residual value for a 27 month lease of a 2007 Cadillac Escalade EXT with 10,000 miles per year are 6.15% and 68%, respectively. The numbers for an otherwise identical 39 month lease are 6.15% and 59%, respectively. When negotiating the capitalized cost for your lease, make sure to take the $1,500 lease cash that is currently available on this truck into account.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shfawaz. GMAC's base lease rate for a 24 month lease is exactly the same as the rates that I mentioned in my previous post. Its current 24 month, 10,000 mile per year residual value for the 2007 Cadillac Escalade is 70%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi briansowa. Ouch, you're $11,000 upside down on your trade. If I was that upside down, I personally would be inclined to wait until I was less upside down to get a new vehicle. At least you are able to purchase your new Escalade through General Motors' supplier purchase program. It assures you that you are getting an attractive price. At the end of March GM was providing a total of $2,500 in cash incentives on this model, $1,000 bonus cash PLUS $1,500 lease cash. Unfortunately the bonus cash expired, so there is currently only $1,500 lease cash on this model. You probably would be better off waiting until later in the month to do anything. GM enhanced its incentives in both late February and late March. If the pattern holds, and GM recently hinted in its monthly sales conference call that it will, then it will enhance its incentives again in late April.

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  • bama12bama12 Member Posts: 17
    Carman- We're considering a lease on a 07 Escalade AWD. Could you give me the current base lease rate and residual for 36 and 39 months with 10,000 miles per year? Are you aware of any rebates or dealer incentives on such a lease? Should we expect additional incentives within the next couple of weeks?

    Thanks for your help!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, bama12. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac Escalade AWD with 10,000 miles per year are 6.15% and 60%, respectively. The numbers for an otherwise identical 39 month lease are 6.15% and 59%. General Motors is currently providing a $1,500 cash incentive on leases of this truck through GMAC. Make sure to take this cash into account when negotiating the capitalized cost for your lease. It is difficult to say what GM's future incentives on the Escalade will be like. Its current program on it is scheduled to run through July 9th, but I would not be surprised if GM made an unscheduled enhancement to its incentives some time in May. This wouldn't necessarily have an impact upon the Escalade and it may or may not happen, but I have a hunch that it will.

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  • bama12bama12 Member Posts: 17
    Thanks Car_man. This is very helpful!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, bama12.

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  • 954brian954brian Member Posts: 3
    Hey Car Man,

    I have a 2005 escalade that i pay $710 a month for. My lease is up this month and I am looking to roll into a new escalade (as fully loaded as possible). Here's my problem...for some odd reason I decided to get an 06 benz cls. I do love the car and i've had it over a year. however, my lease is up in june 08 on the benz and i'd like to roll that into the new escalade lease. I owe around 17k on the benz and would like to know what my options are. I'd like to do a 48-60 month lease on the new escalade so i can keep my monthly payments down. i just can't afford the benz and a new escalade and figured if i do a longer term lease, i'd be able to keep my payments under 1000 a month. Is it possible to do this? I'd like to be between 700-900 a month if possible. Any and all suggestions are greatly appreciated! I'm in South Florida and have no problem taking a lease from any dealership anywhere in the US as long as they can deliver the car. Unfortunately I have to take care of everything this week so if you can be of assistance, the sooner the better!

    Thanks again!

    Brian
  • mil6753mil6753 Member Posts: 71
    Dang - I'd trade you my '07 Escalade for our CLS. Seriously I was deciding between these very 2 cars when I got the Escalade. Too bad you are in Florida and I'm in Nebraska - we could just swap.
  • shfawazshfawaz Member Posts: 27
    Anyone know if the lease cash has increased in light of the latest incentives GM introduced last week? Last time I looked there was $1500 cash-I know there is $750 additional GM employee bonus cash thru July 9. 2007, how or if this trickles down to leases is the question.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Brian. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your CLS lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    If you do decide to lease a new Cadillac Escalade, definitely do so for 48 months instead of 60 months. GMAC's supported lease program on this truck is only available for up to 48 months. If you lease it for longer than this you will have probably have to pay a much higher interest rate.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shfawaz. General Motors is still providing $1,500 lease cash on the 2007 Cadillac Escalade in July. I don't believe that the additional bonus cash for GM employees was extended though. At least I haven't seen any mention of it.

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  • shfawazshfawaz Member Posts: 27
    Hi Car_man.

    I just leased an '07 Cadillac Escalade on the 9th of July, just before the latest incentives expired. I chose a 10,000 low mileage 24 month lease. The MSRP of the vehicle was $65,200 before the factory $2500 sport package discount. The dealer used this amount in calculating the lease even though the actual sticker was $2500 less. My GMS price was $54,683.65. With no money down and using a 69% instead of the 70% residual, (this unit has the 22" wheels), the residual value came to $44,988. Adding in the $595 GMAC bank fee, and subtracting both the $1500 cap cost reduction and $750 in employee bonus cash, and using the 6.15% lease rate, I calculated my payment to be $669.86 with 6% sales tax, a very attactive monthly payment considering this to be a $65,000 vehicle and no money down. Yet the dealers system came up with a payment of $675.89.

    The dealer insists that our figures match (MSRP, GMS price, lease rate, residual, cap cost reductions), yet their system calculates a payment that is over $6 higher per month, or over $150 over the two years. How can it be possible that their system can be that much off?

    The first contract they trotted out for me to sign showed all the figures as I calculated them, but the payment was $705.65 which after close examination, it turned out that the rent charge (interest over the two years) reflected a 6.89% rate instead of the standard 6.15%. Once corrected, the payment came to $675.65. Any ideas why such a discrepency? I calculated the payment using several reliable online lease calculators, and in the past, those lease calculators proved to be accurate within pennies-not this time.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shfawaz. It is difficult for me to say why the dealer came up with a payment that is slightly higher than the one that you calculated. Did you compare payments before sales tax was added in? Perhaps you are calculating it differently than it is done in your state. At least $6 per month isn't a huge difference.

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  • dcbeltrandcbeltran Member Posts: 6
    Hey Carman,

    I need some help. I will be getting a new 07 Escalde next month through the GM PEP program. It's a company car with MSRP at 66985.00 and depending on the miles that I get the vehicle delivered to me the cost will be;
    PEP1 1-3,000 (miles) $56770.75
    PEP2 3,001-6,000 $55059.10
    PEP3 6,001+ $53062.18

    It says in the program that I can also get whatever incentives are out there at the time. Could you give me a rough lease breakedown with these prices and 15k miles month?
    Thanks
    -Dariel
  • squirrel1970squirrel1970 Member Posts: 1
    Hello, I'm a newbie here and in the market for an 07 Escalade. I was at the dealership today and here's what they told me.

    Sticker Price: $64,160
    Cash Back: Up to $8000 (Never stated the exact amount I was getting)

    Monthly payment before taxes: $805
    This was for a 36mo lease with 12k miles.

    Does this sound right? Anyone know what the current money factor and residual value is?

    Appreciate any help.

    Thanks
  • 996twint996twint Member Posts: 35
    Can the $1500 lease incentive be used with the $3000 cash incentive? I am looking to lease a 2007 ESV and wanted to make sure I was getting all my cash back.
    Also what are the current lease rates for both 24 and 39 months?
    Thanks for any help.
  • 996twint996twint Member Posts: 35
    Hi Carman,
    Are the 2008 Escalade ESV residuals better than the 2007? What are they compared to the 2007? I'm looking at either 24 or 39 months and was trying to decide which would be the best way to go.
    Thanks for any help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Dariel. I'd hate to see your gas bill if you drive 15,000 miles per month ;) . General Motors is currently providing $1,500 lease cash on the 2007 Cadillac Escalade. It is providing additional bonus cash on Escalade models that have been sitting on dealer lots for a long time. Specifically, there is $1,000 on units that have been in dealer stock since 1/11/07 and $2,000 on models that have been around since 11/12/06. Since I can't be sure that you will go with a model that is that old, for now I will ignore this cash but keep it in mind if you find an older model that you like.

    According to my calculations, if you were to lease an '07 Cadillac Escalade PEP1 that has an MSRP of $66,985 and a selling price of $55,271 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $748. The payment for an otherwise identical lease of a PEP2 would be around $697. The payment for an otherwise identical PEP3 would be around $636. I haven't calculated many leases on vehicles that were purchased using the PEP program, so I am assuming that it does not have any impact upon GMAC's residual values. If it does, these payments are not correct.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome squirrel1970. You never mentioned the selling price of the Escalade that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    For now I can give you an idea of what its current lease program is like. GMAC's base lease rate for a 36 month lease of an '07 Cadillac Escalade is 6.15%. Its 36 month, 12,000 mile per year residual value is 59% on models without the top of the line wheels and 58% on models with them. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on this truck, make sure to take the cash incentives that I mentioned in my previous post into account.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 996twint. The $1,500 lease cash incentive is not compatible with the normal $3,000 customer cash. Having said this, GM is providing additional bonus cash on Escalade models that have been sitting on dealer lots for a long time. Specifically, there is $1,000 on units that have been in dealer stock since 1/11/07 and $2,000 on models that have been around since 11/12/06.

    GMAC's base lease rate for a 24 or 39 month lease of an '07 Cadillac Escalade is 6.15%. Its 24 month, 15,000 mile per year residual value is 66% on models without the top of the line wheels and 65% on models with them. The 39 month numbers are 55% and 54%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 996twint. Interestingly, the 2008 Cadillac Escalade's lease rates and residual values are currently exactly the same as the 2007 models' numbers. Take a look at my previous post to see what they are. As a result, given the additional cash incentives and dealer discounts that will be available on them at this point it will be cheaper to lease an '07 model.

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  • kjdakjda Member Posts: 3
    I'm interested in leasing an '08 escalade esv with an msrp of 72000.00 I see there are no incentives, but what should my estimate payment be for a 36 month with 15000 miles. I appreciate the info. I went to cadillac's website and it estimated it at 1245.00. Is that accurate?
  • mbrodymbrody Member Posts: 1
    Car_man

    I am looking to lease a 07 Cadillac Escalade. I want the following options:
    Black Raven
    Ebony interior
    2WD
    Climate package
    Power folding
    Captains Chairs
    22"
    Navigation
    Rear DVD
    39 months or most favorable term
    15,000 miles a year

    I was quoted MSRP $65525. Monthly payment of 864.03 + Tax = $935. with $1542.81 down. Is this a good quote? I figure end of the year, dealers are looking to unload 07's. I would like to get into one for $860 including tax per month. Is that to unrealistic?
  • eanderson406eanderson406 Member Posts: 1
    Hi All,

    Hoping that someone could help me out. I am going to be leasing a 2008 Escalade AWD w/ the Ultra Luxury Collection option.

    MSRP is $66,065.

    What is the depreciation percentage of this vehicle on a 36 month/15K a year lease? Also, what is the money factor (interest rate) that people are seeing out there. When it comes to Cadillac, I am a bit lost on the metric's that determine a good deal. Any help would be greatly appreciated !!!

    Thanks,

    Eric
  • escaladeleaseeescaladeleasee Member Posts: 3
    Hi....just went to dealer to check on the Escalade ESV for the wife. MSRP was $68,370.....Dealer reduced cap cost to $62,423. 39 months 6.1% APR... 54% Lease end value = $36,919...15,000 miles per year. The deal came to $909/month + $45 for taxes.....$955 total.

    Couple of questions to those who may have gone this route:
    1. The cap cost # seems high to me from what I've been reading in this blog. What would be a good # to shoot for here?
    2. I shouldve done this at dealer but didn't - on a 24 month lease can anyone tell me using the above #s what the monthly payment would be? I'm not sure what percentage would be used for Lease End Value.....

    thanks!
  • escaladeleaseeescaladeleasee Member Posts: 3
    See my post - #93......i just went to dealer today and i got 6.1% .....what did your dealer give you for a lease end value and Adjusted Cap Cost?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings escaladeleasee. The Escalade that you are interested in probably has a spread of around $5,500 between its full MSRP and its dealer invoice price. Plus, General Motors is providing $850 lease cash on it right now. This gives you a total of around $6,350 to play with. You were quoted a discount of right around $5,950 on this truck. That looks like an excellent selling price to me. The 6.1% lease rate that you were quoted is right in line with GMAC's base rate for this truck. If you like it, I personally don't see any reason not to pull the trigger on this deal.

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  • longtomlongtom Member Posts: 2
    Car Man,
    Your thoughts on the below.

    2008 Escalade
    MSRP = $67380
    Selling Price = $63400
    Res = 57%
    39 Months
    15K miles
    Payment = $849.00

    Can i do better? Is my math correct when i calculate it at a 3.75% money factor. I forgot to ask the dealer but can this be a correct money factor? If not how are they getting to $849 payment and can i get it lower?

    Thanks.
  • cdcruizer05cdcruizer05 Member Posts: 21
    My Grandfather leased a 2007 Cadillac Escalade in Jun 06. He now wants to trade it in on a new truck, the lease was for 48 months! My question is what is going to happen once he tries to do this and could he trade the Caddy in and not lease the truck or does he has to lease itI think he wants to buy the truck outright!

    Oh his payment was $795 a month! If curious!
  • arahmedarahmed Member Posts: 3
    Longtom

    If you dont mind can you share the dealership and sales person as would like to get a similar price.

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi longtom. The Escalade that you are interested in likely has a spread of a little over $5,500 between its full MSRP and its dealer invoice price. Add to this the $850 cash incentive that is available on leases of this truck through GMAC and you have a total of $6,350 to play with. You were quoted a discount of just under $4,000. That is probably still more than $2,000 over invoice. If you are in an area that has a decent level of competition, you should be able to better than that. I personally would shoot for a selling price of $500 to $1,000 over invoice. That means another $1,000 to $1,500 off the selling price that you're at now. Furthermore, GM just introduced a special $1,000 President's Day incentive on the '08 Escalade yesterday. That means you might be able to do $2,000 to $2,500 better than this by shopping around.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings cdcruizer05. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, your Grandfather would need to purchase the Escalade that he is currently leasing from the bank that he is leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost him to get out of his lease by comparing its purchase price to its value on the open market at this time. You or he should place a call to the bank that he is leasing his vehicle through to find out its exact price. Once you know exactly how much money it is going to cost him to buy his leased vehicle you need to compare it to its current value on the open market. You can find out approximately what the Escalade is currently worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if he is still on the hook for his remaining lease payments. The difference between the leased vehicle's current value and how much it will cost him to buy it plus any remaining lease payments that he is obligated to pay will be the cost of getting out of the lease right now. You may find that he is better off waiting until you are closer to the scheduled end of his lease to get another new vehicle.

    Car_man
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  • srf2srf2 Member Posts: 6
    Can anyone tell me the current lease rate and residual value % from GMAC for a 2008 ESV for both 36 and 48 months on the 12K/year lease? Thank you.
  • joey87joey87 Member Posts: 1
    My husband has secured a loan on a 05 Infiniti b/c he is bent on turning in his recently leased 2008 Toyota Tundra. I think this is a very bad idea & I am uneasy about this. He states that he is "just taking it back to the dealership" like its no problem. Please advise me of any and all repercussions in doing this. I believe that this is going to hurt him in the future and definitely will ruin his already bad credit.
  • kyfdxkyfdx Moderator Posts: 234,734
    joey87.. Re-post your question here: General Questions about Leasing Vehicles. More members will see your post in that discussion.

    You should be concerned...

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