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2013 and Earlier Cadillac SRX Lease Questions

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  • harry1943harry1943 Member Posts: 10
    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!
  • ericzoomericzoom Member Posts: 213
    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. :)
  • smokiejoesmokiejoe Member Posts: 26
    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.
  • ericzoomericzoom Member Posts: 213
    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.
  • smokiejoesmokiejoe Member Posts: 26
    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..
  • ericzoomericzoom Member Posts: 213
    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?
  • smokiejoesmokiejoe Member Posts: 26
    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.
  • ericzoomericzoom Member Posts: 213
    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.
  • surviveonesurviveone Member Posts: 4
    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? :)
  • miked22miked22 Member Posts: 20
    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.
  • ericzoomericzoom Member Posts: 213
    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.
  • miked22miked22 Member Posts: 20
    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).
  • surviveonesurviveone Member Posts: 4
    miked22,
    I got a similar deal ($620)
    Did you get the same options?(Check previous post)
  • sheepdog1sheepdog1 Member Posts: 36
    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@EdmundsCarMan@Edmunds Member Posts: 38,514
    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@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, harry1943.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • ericzoomericzoom Member Posts: 213
    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.
  • chrism124chrism124 Member Posts: 134
    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
  • polara60polara60 Member Posts: 9
    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@EdmundsCarMan@Edmunds Member Posts: 38,514
    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@EdmundsCarMan@Edmunds Member Posts: 38,514
    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • aureachaseaureachase Member Posts: 5
    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@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • tcw1965tcw1965 Member Posts: 2
    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.
  • ericzoomericzoom Member Posts: 213
    So what were the total numbers they gave you ?

    Down payment, monthly amount, Negotiated price?
  • tcw1965tcw1965 Member Posts: 2
    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.
  • sheepdog1sheepdog1 Member Posts: 36
    Hey Carman my 24 mo SRX lease is almost up, what are the latest programs in FL, 24, 39 mo, low mileage leases?
  • hamomhamom Member Posts: 13
    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!
  • hamomhamom Member Posts: 13
    here are the numbers I have...
    39 mo. lease, 15K miles a year. Luxury Premium Collection, AWD, utility package, 18 inch wheel package.

    $622.38 a month

    due at signing
    622.38-first months payment
    $125 doc. fee
    $7.50 tire fee
    $180 luxury tax (required in NJ on cars over $45k?)
    total: 934.50

    Thoughts?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey tcw1965. According to the latest information that I have seen, GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Cadillac SRX with 12,000 miles per year are 4.0% and 55%, respectively. I believe that GM is only providing $950 lease cash on this model right now, but it did introduce an additional $500 owner loyalty cash on leases of it this month.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey sheepdog1. You must have liked your last SRX if you are in the market for a new one. One of my relatives has one and they really like it. GMAC's current base lease rate and residual value for a 24 month lease of a 2008 Cadillac SRX V6 with 12,000 miles per year are 4.0% and 64%, respectively. The numbers for an otherwise identical 39 month lease are 4.0% and 54%. If you were to lease with only 10,000 miles per year, this vehicle's residual values would be 2% higher. When negotiating your lease on it, make sure to take the $950 lease cash and $500 owner loyalty cash that you obviously qualify for into account. They will help you to negotiate an attractive capitalized cost for your lease.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello hamom. This vehicle's lease payment will vary depending upon what its MSRP and selling price are. You never mentioned either of these numbers in your post, so I will have to make some assumptions to work up a sample lease payment for you. For now I will assume that you want to lease a 2008 Cadillac SRX V6 with the Luxury Package that has an MSRP of $42,265 and a selling price of $39,212 ($1,000 over invoice minus the $950 lease cash). If you are able to negotiate a lower selling price than this, your truck's monthly payment will be lower and vice versa. According to my calculations, if you were to lease a truck that has these prices through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $581. The payment for an otherwise identical 39 month lease would drop to around $555. I definitely would go with the 39 month term if I was in the market for this truck.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hamom. Please see my previous post. IF you provide me with this truck's full MSRP and selling price I can give you a detailed analysis of the specific deal that you were quoted.

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  • tomy3tomy3 Member Posts: 46
    Edmunds indicates a $2000 "cash to dealer" incentive as well as a $900 "cash to dealer" for SRX's sold with the V6 Luxury Collection. Both indicate "no restriction."
    On leasing a new SRX can I start with Invoice subtract both of these incentives and tack on $500 for dealer profit and consider this a fair deal? Please Car_man or anyone with knowledge on the SRX pricing/leasing please help me to come up with an offer that most dealers would accept.

    Thanks.
  • tomy3tomy3 Member Posts: 46
    I am finding some Cadillac dealers who say that GMAC does not charge any acquisition fees in connection with a lease, others want to charge me $595. Which is more typical??
  • mmenacemmenace Member Posts: 1
    Leased a diamond white 2008 v6 AWD SRX Luxury, utility and theater packages.

    approximates:

    MSRP 51,000
    Selling 47,000
    Something like $4000 worth of GM incentives
    term 24 months
    mileage 10,000 miles per year
    downpayment + first month's payment $5024
    monthly payments $473 at 23 months
    residual approx 66%
    payments included tax, title, license and dealer fees

    most discounts came with GM's cash to dealer, the good-better-best program; the more options on your SRX, the greater the discount. Ultimately it came to something like $3000 under invoice. Must be because it was end of month, the SUV market being bad, and GM offer major incentives to move the SUV stocks.

    I had a GM supplier number ready to go, but the above offer was better than GM supplier + all discounts. Didn't use the GM supplier discount.

    Location: Renton, Washington
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tomy3. GMAC charges an acquisition fee of at least $595 on every vehicle that it leases (it actually charges more than this in some states). Any dealer that tells you otherwise is probably just rolling the charge into your truck's capitalized cost to make it part of your monthly payment.

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  • thedrakethedrake Member Posts: 14
    I just picked up my 08 V6 SRX AWD last night. It's Crystal Red with V6 Luxury collection and Utility package.

    MSRP: $46,400
    Term: 24 Months
    Milage: 10,000/yr
    23 Monthly payments @ $279
    Total Cash Due at signing: $5,563 (which included $2,995 cap cost red, TTL, bank charge,and misc BS)
    Less $2,000 GM Card points left me with the super fine, bottom line, out the door deal of:

    $3,563 cash due at signing and $279/mo
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new SRX, thedrake. One of my relatives has one and he really likes it. Thanks for taking he time to stop in and share the details of your lease with everyone. Make sure to hop on over to the 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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  • jwoodiejwoodie Member Posts: 16
    I am looking to purchase above vehicle within next 6 weeks. What should I expect re discounts and rebates? MSRP is $50,000 (with Ultra savings), invoice $47,000. Any effect on whether I purchase or lease? What are current lease rates? Thanks for any info.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jwoodie. General Motors is currently providing $2,000 customer cash or 0% to 4.9% special financing on the 2008 Cadillac SRX. If you choose to lease this model, the cash incentive that is available on it drops to $950 and its lease rate is 6.0%.

    As far as what sort of selling price to shoot for goes, if I was personally in the market for a new SRX right now I would shoot for a couple hundred dollars over dealer invoice minus any available cash incentives.

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  • jwoodiejwoodie Member Posts: 16
    Thanks for info. I decided to go for a loaded v8 awd sport model 11k cert $32k. wow!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, jwoodie. Enjoy your new ride and if you're interested, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience.

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  • rbirns1rbirns1 Member Posts: 311
    GM announced new lease programs for the upcoming SRX. Anyone have details of the current offers?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rbirns1. General Motors finally reintroduced leasing on select models. It is actually running two special lease programs right now, one through its traditional captive finance company GMAC and one through US Bank. It is directing all Cadillac SRX leases through the latter.

    Its current special lease rate for the 2010 SRX is 4.8% for either 36 or 39 months. It is not providing lease support on the '09 model.

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  • rbirns1rbirns1 Member Posts: 311
    What about residuals? Rebates? Looking for help figuring out the bottom line. Thanks in advance.
  • bigliljenbigliljen Member Posts: 28
    So 4.8% means a money factor of .002?

    thanks
    bigliljen
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey rbirns1. I haven't seen GMAC's residual values lately. I'll have to make some calls and see what I can find out.

    General Motors is not currently providing any cash incentives on leases of the 2010 Cadillac SRX.

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