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2013 and Earlier Cadillac SRX Lease Questions

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, your last three vehicles, huh? You're making me feel old :P . General Motors is not providing lease support any more. If you want to lease this vehicle, you would be better off going with a 2007 model. Through January 2nd, GMAC's base lease rate and residual value for a 36 month lease of a 2007 Cadillac SRX V6 with 15,000 miles per year are 4.95% and 52%, respectively. General Motors is scheduled to introduce its new January incentive and lease programs tomorrow. I would be happy to give you am idea of what its new promotions for this truck are like if you're interested.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, lars1281. Thanks for taking the time to share the details of your deal with everyone. Real world examples like the one that you posted are very helpful for consumers who are shopping for new vehicles. Enjoy your new ride.

    Car_man
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    policeladypolicelady Member Posts: 17
    Hey Car_man,
    I wanted to ask another question. When it comes time to turn in the vehicle.....1. if you want to keep the vehicle, how is the amount determined that you will pay? Are payments involved or one lump sum to the dealer.
    2. what happens if you do not have such a large amount of money to pay off the car....do you just lease another vehicle?
    3. What happens if your credit was ruined during your lease agreement? If you paid the car dealer on time, will they consider this or is your overall credit checked once again when considering leasing another vehicle?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey policelady. Vehicles' lease-end purchase prices are based upon the residual value that was used to calculate the depreciation portion of their monthly payments. You should be able to find out what your vehicle's purchase option price is by looking at your lease contract. This is the most that it will cost you to purchase your vehicle at the end of your lease. I say most because banks will occasionally negotiate the lease-end purchase prices of vehicles. Place a call to GMAC, or whichever bank you are leasing your SRX through a few weeks before the scheduled end of your lease to see if they will be willing to work with you. More often than not banks won't, but you don't have anything to lose by asking.

    If you do not have a large sum of money available to purchase your vehicle at the end of your lease you can either finance it or just walk away from your lease and lease or purchase a new vehicle.

    Every bank uses its own set of guidelines to determine who it will and will not approve to lease vehicles. Domestic manufacturers' captive finance companies, like GMAC, are usually fairly lenient in who they approve. If you have a good payment history with GMAC I suspect that you would have to really mess up your credit during your lease for them not to approve you to lease another vehicle through them.

    Car_man
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    susanw6susanw6 Member Posts: 32
    I am negotiating a lease for a 2007 V6 SRX with utility pkg (3rd row) and adjustable foot pedals. First, Do I need to purchase the $4100 premium package in order to get the adjustable pedals, or can I purchase the $1300 premium collection to get it?

    Also, with $2000 out-of-pocket, 36 or 39 months :blush: , 15k miles/year and excellent credit, what is a good monthly payment? I was hoping to get it in the low 500's-maybe $525. Is this realistic?
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    susanw6susanw6 Member Posts: 32
    Here is the deal I signed...
    2007 V6 SRX w/Premium package ($4100) and utility package ($1125), in White Diamond.

    MSRP is $43,455.
    I put down $2000 in GM Mastercard rewards
    39 month lease w/15,000 miles/year
    $470.00 per month, plus tax for a grand total of $498.20.

    They had others that were $40 more per month, but they said this one was an "older age model", meaning it was one of the first few they got in from Detroit in October, so there was some add'l rebate Cadillac was providing them on it.

    My only concern was that it had 130 miles on it and I've never bought or leased a new car with more than 15 miles on it. I made them check the computer to see how those miles got there and when it arrived at the dealership on Oct 24, it already had the 130 miles (I actually saw this). They said it was not a dealerhisp transfer, nor a demo. They said that maybe it was used as a test model by the factory. Never believing anything a dealership says, I'm skeptical, however, I still think I got a good deal and since its a lease, as opposed to a purchase, I'm O.K. with it.

    Anyone ever heard of that?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi susanw6. I am not personally all that familiar with the Cadillac SRX's option packages, but you may be able to find a community member who is by visiting the following discussion: "Cadillac SRX".

    You never mentioned the selling price or MSRP of the SRX that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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    susanw6susanw6 Member Posts: 32
    Hi Carman. Here are the details of the deal I made Jan 28th.
    Sticker MSRP is $43,885.00.
    Capitalized cost is $42,181.66.
    Dealer Fee is $595.00
    Rebates and credits $6995.89 ($2000 of it was from my GM Matercard rewards dollars).
    I put nothing out-of-pocket, just sign and drive.
    15,000 miles/year
    $470/month plus tax for a grand total of $498.20/month
    39 months
    How did I do on this deal?
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    helen05helen05 Member Posts: 4
    Hi Car_man,

    Is there any incentive from GMAC on Feb? What is the interest rate and residual value for a 39 month lease of a 2007 Cadillac SRX V6 with 10k miles per year?

    Many Thanks,

    Helen
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    harpist4youharpist4you Member Posts: 2
    It looks like you got a pretty good deal. Just make sure that the mileage they gave you started the mileage with the 130 miles. What as the actual purchase price that you negotiated? I am in the processing of doing a lease and there is a $2,250 rebate the month of feb.
    I am wondering if the person who got $6,995.00 of credits was including the $2,250 rebate plus their 2k of points, plus any $ negotiated off of invoice price of the srx?

    I heard there is a $1500 dealer incentive fee off of the invoice price on srx's for hte month of feb also. So I am going to offer...1500 under invoice and see what happens, then they will take off the 2,550.00 and we will see what happens. They already accepted an offer of 38,800 before taxes but I didn't sign as I wanted more time to research.
    The price I offered was $700 over their invoice price. This was before I learned that they usually pay under the invoice price for the car and will be happy with a 3% profit. Wish me LUCK!
    Susan
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    susanw6susanw6 Member Posts: 32
    Hi Susan,
    My mileage did start at the 130 mile count.

    I find the whole leasing process so confusing. What I did this time was use the Edmunds forum to post the car I was looking for. Then I received offers from the internet sales department of several dealerships in the area. The internet sales dept DEFINITELY beats the prices of the regular new car sales people. They will negotiate by phone because they know you are using the internet to research the best prices. I had several negotiations going at once over the course of a week involving 2 different dealerships. I played them against each other.

    When I finally knew I hit the rock bottom price, I made an appt with the internet sales rep. She faxed me the credit paperwork and got it all done ahead of time. When I got there the car was ready and detailed. I took it for a test drive, signed the contract and left. It was great not sitting at the dealership while they played back and forth with me for 2 hours!
    Good Luck. Susan
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    helen05helen05 Member Posts: 4
    The dealer gave me straight invoice price w/ $2250 incentive at my first visit. I am doing some research to see what I can offer back. The price I got is $39776 (Base price + Lux pkg + util pkg + dest fee). I didn't heard the $1500 dealer incentive. If that is the case. I will be happy to cut it off in my offer.
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    harpist4youharpist4you Member Posts: 2
    I am in the process of negotiating a similar lease.
    srx v6 RWD with pdf luxury package, cf5-sunroof, jf4 adjustable pedals, y44 premium seating, heated seats,
    I am planning on paying for my tags, and first months payment. Around $800.
    42k was the msrp. Invoice was 39k. I offered 700 over invoice and they accepted but i didn't sign. I have learned that I should offer less than invoice.
    They have to bring the car in from another dealership. I am curious what your $6,995 credit and rebate composed of? I get the rebate which i am told is $2250. and 2k of your mastercard dollars that leaves $2,795 unaccounted for....was that monies negotiated off of msrp or invoice?

    help...i am just trying to make sure i don't overpay.
    thanks
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    helen05helen05 Member Posts: 4
    An update on my negotiation is my offer of $1500 below invoice was accepted. Thanks for the information in this board, especially harpist4you's posting.
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    hartthartt Member Posts: 79
    Does anyone have the residual and money factor for a 3yr/12k mile lease? I've seen some people talking about a 39 month lease. Are the numbers better for 39 months?
    Question to Helen05... Did your $1500 dollar under invoice offer include the $2250 rebate?
    Thanks for the input.

    TH
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    helen05helen05 Member Posts: 4
    No, that's before the rebate. Residual value for 36 mons is 57% of MSRP.
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    hartthartt Member Posts: 79
    Here is the offer on the table right now.
    MSRP:$45,000
    Invoice:$41,374
    minus the following:
    -$1500 dealer cash
    -$500 auto show bonus
    -$250 to lease the vehicle
    -$500 under invoice
    Adding the acquisition fee:
    +$595
    $39219 cap cost
    According to my calculations... If I were to lease this vehicle for 39 months with 12K a year and using a MF of .00165 and a residual of .54% I come up with a payment of $516.59. That includes 6% tax.
    Any thoughts? Is $500 under invoice good or can I do better?
    Thanks for the input.

    T
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi susanw6. This deal looks pretty good to me.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Helen. GMAC's current base lease rate and residual value for a 39 month lease of a 2007 Cadillac SRX V6 with 10,000 miles per year are 3.95% and 56%, respectively. General Motors is currently providing $2,250 lease cash on this truck. Make sure to take it into account when negotiating the capitalized cost for your lease.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hartt. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Cadillac SRX V6 with 12,000 miles per year are 3.95% and 55%, respectively. The lease rate is the same for a 39 month lease, but the residual value is 1% lower. I haven't worked up the numbers, but I suspect that the payment for a 39 month lease of this truck is a few dollars per month less than the payment for a 36 month lease.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey hartt. The .00165 money factor that you were quoted is equivalent to GMAC's base lease rate of 3.95%. $500 under dealer invoice minus the $2,250 lease cash that is currently available on this truck is a good deal.

    Car_man
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    bagsbags Member Posts: 12
    Just got back from my dealer. I have 13 months to go on a CTS lease, so I really didn't expect much. But they offered a new 07 SRS, sticker $42,107, for $450/mo. (that includes tax). I have to give them $1350 in GM card money and $3850 cash. I know there are incentives, but this seems amazingly good to me.
    Thoughts?
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    2004fx352004fx35 Member Posts: 3
    This is the spec's of a 2007 V6 SRX with no nav. I am looking to lease it for 39 months and 12,000 miles per year. How much should I pay. $46,125 is MSRP. Thanks in advance!!

    UTILITY PACKAGE
    THIRD ROW POWER SEAT
    (REPLACES RECONFIGURABLE
    STORAGE)
    TRAILERING EQUIPMENT
    HEAVY DUTY COOLING SYSTEM
    POWER STEERING FLUID COOLER
    WOOD ACCENTED STEERING WHEEL
    AND SHIFT KNOB
    V6 LUXURY COLLECTION
    LUXURY PACKAGE
    PREMIUM SEATING PACKAGE
    ULTRAVIEW SUNROOF
    REAR AIR CONDITIONING
    POWER ADJUST PEDALS
    (SEE DEALER FOR PACKAGE DETAIL)
    ALL WHEEL DRIVE
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    eurosnobeurosnob Member Posts: 7
    After an e-mail campaign of Milwaukee area dealers, the following is the best quote that I have received to date.

    SRX V6
    Infrared w/Ebony Interior
    V6 Luxury Package
    AWD

    MSRP: 44,850
    Cap Cost: 38,421
    Rate: 3.95%
    Term: 39 mos.
    Miles: 15,000 per year (48,750 total)
    Lease Rate: $500.89
    Residual: 51% ($22,873.50)

    Due at signing are TTL, Fees and first months payment only - no other cap cost reduction is included.

    Any thoughts? This doesn't look too bad to me, although the residual appears to be a little less than other postings I have seen on the board. Any thoughts would be appreciated.

    Tony A.
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    dmbleserdmbleser Member Posts: 8
    Based on the above postings it looks like the offers I received today are not even close to being in the ballpark.

    MSRP - 45,155 - luxury package
    Sales - $41,750 + tax and after $3405 in "savings" and rebates.
    rate - unknown. not provided by dealer. (internet)
    Miles - 12000 per year
    Down payment - $1650 plus tax and title
    Term - 36 months
    lease rate - $650

    or

    MSRP: $37855 - no frills
    Sales - $35527 after $2328 in "savings" and rebate
    rate - unknown not provided by dealer. (internet)
    Miles - 12000
    Down payment - $1650 plus tax and title
    Term - 36 months
    lease rate - $560

    What am I missing? Where are they taking advantage of me?

    Thanks in advance for your help.
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    2004fx352004fx35 Member Posts: 3
    I finalized my lease deal yesterday and will be picking up the SRX today! 39 month lease 12k/year. Radiant Bronze with Cashmere interior. $484/month. Upfront is bank fee, first month, and DMV fees. $867.00 GM card earnings applied to cap cost reduction. :P :P

    2007 AWD
    UTILITY PACKAGE
    THIRD ROW POWER SEAT
    (REPLACES RECONFIGURABLE
    STORAGE)
    TRAILERING EQUIPMENT
    HEAVY DUTY COOLING SYSTEM
    POWER STEERING FLUID COOLER
    WOOD ACCENTED STEERING WHEEL
    AND SHIFT KNOB
    V6 LUXURY COLLECTION
    LUXURY PACKAGE
    PREMIUM SEATING PACKAGE
    ULTRAVIEW SUNROOF
    REAR AIR CONDITIONING
    POWER ADJUST PEDALS
    (SEE DEALER FOR PACKAGE DETAIL)
    ALL WHEEL DRIVE
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    heytrayheytray Member Posts: 14
    :) Originally I thought I was going to purchase a 2006 SRX V-8 leftover with the 0% financing for 60 months. That took alot of time to find a V-8, and negotiate. Now I am switching to lease a 2007 V-8.I currently have requests for internet quotes from 4 dealers. So I would love some help. Any information on March incentives, rebates, deals people have signed in March would be so appreciated.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello 2004fx35. This truck's lease payment will depend upon what sort of selling price you are able to negotiate on it. The lower its selling price is, the lower your lease payment will be. General Motors is currently providing $2,250 lease cash PLUS an additional $1,000 "conquest" cash incentive to current owners and lessees of any non-GM product on the '07 Cadillac SRX. Make sure to take these cash incentives into account when negotiating the capitalized cost for your lease. You should be able to get a good idea of how much you will have to pay to lease this truck right now by visiting the following discussion: "Cadillac SRX: Prices Paid & Buying Experience". Once you have an idea of what sort of selling price you are willing to pay, let me know and I will be happy to use GMAC's current lease program to estimate what your monthly payment should be.

    Car_man
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    heytrayheytray Member Posts: 14
    Thanks Car man for the reply. I had to order my 2007 SRX to get it equipt the way I want it. I called cadillac.com and had a supervisor search and there were none in the whole U.S. Anyway it will be 4 weeks untill its ready. Is the conquest money dependant on where you register the car? For example I live in the southeastern Virginia area(I think its only $500 here)But I am ordering the car in Washington DC(where conquest is $1000. :)
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    smokiejoesmokiejoe Member Posts: 26
    2004 FX35..

    That sounds like a real good deal.

    Was that deal done in Michigan, and does that figure include taxes because where I am in Pennsylvania it seems like they want about $60 more per month.

    How does the SRX compare to the FX35, which I believe you may have some knowledge with?

    Thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Tony. First let's take a look at the lease program that you were quoted. The money factor and residual value that you were provided are right in line with GMAC's current lease program for a 39 month, 15,000 mile per year lease of a 2007 Cadillac SRX V6. This is a good sign that this dealer is being straightforward with you.

    Now let's take a look at the selling price that you were quoted. This truck has over a $3,000 spread between its full MSRP and its dealer invoice price. Plus, General Motors is currently providing $2,250 lease cash and $1,000 conquest cash for current owners of non-GM vehicles on it. That gives us $6,250 to play with. You were quoted a $6,400 discount, which is outstanding. If you like the truck, I personally don't see any reason not to go for it.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dmbleser. If you are in an area that has a decent level of competition you should be able to do better than this. As I mentioned in my previous post, General Motors is currently providing $2,250 lease cash plus another $1,000 conquest cash for current owners of non-GM vehicles on the 2007 Cadillac SRX right now. This represents a savings of $3,250 before any dealer discount. So even though you were quoted $3,405 in savings, the dealer is only reducing this truck's price by $150. There is a spread of around $3,000 between this truck's full MSRP and its dealer invoice price. Shop around and see if you can find a dealer that is willing to give you a larger discount.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi heytray. General Motors is currently providing $2,250 lease cash and a $1,000 conquest cash incentive for current owners of non-GM vehicles on the '07 SRX. This truck's lease program varies by term and mileage allowance. If you give me an idea of how long you want to lease for and how many miles per year you need to be able to drive I will gladly give you an idea of what this truck's current lease program is like.

    If you're still interested in financing, you're in luck. GM introduced 0% financing for up to 5 years on the 2007 SRX for the month of April.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, heytray. I was under the impression that the conquest cash is $1,000 everywhere. I believe that you are only eligible for the incentives that are available on this model where you live, not where you purchase.

    Car_man
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    edscarsedscars Member Posts: 8
    In Tampa, FL. Black with cashmere interior. Premium luxury package. Also theater, NAV, DVD, upgraded wheels/tires and third row seating/AC etc. Wood steering wheel. With the exception of splash guards I think we got everything. They are washing my minivan lease. $2,500 down and total comes to $577 per month (incl 7% tax in florida). 39 months, 12,000 miles. Seems quite good. Any thoughts? THANKS!
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    garykinggaryking Member Posts: 47
    It is time for my biennial pilgrimage to the mountaintop of the all-knowing car_man! :)

    I want to get out of my 04 SRX and into a new 07. Still have a couple of months on the lease, but I'm out of miles.

    What are the current lease deals in CO?
    Preferably 36 MO, 15K miles.

    I get GMS (employee) pricing, if it matters.
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    isla_guyisla_guy Member Posts: 4
    Morning Car_man: Is/are the $1000 conquest cash and $2250 lease cash still available through Apr.? When do they expire? Looking to lease or buy a new SRX. I want to take all rebates and cash available to me, either in a purchase or lease..Still in limbo. Enlighten me please.
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    isla_guyisla_guy Member Posts: 4
    Hi Car_man. Would like your feedback on the current lease offer for a new SRX with the following: Y45 Package, Rear Air Conditioning, MSRP $39165.00. I estimate invoice to be at ~$36795. Offering is 39 month lease @ 10k per year
    $397 plus tax = $426.78 x 39 months = $16644.42 + $1539 (inceptions) = $18183.42. Walk away with zero due. What is your feel on this one?
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    stevef5stevef5 Member Posts: 2
    Hi Car_man: Found this forum and it seems to be full of great info! Here's my question. Have a lease price on an ’07 SRX Black/Cashmere RWD w/ 18” Sport Package, MRC, Theater, Utility & Prem Collection, Total MSRP $53,795 (delivery included). Edmunds invoice is 48,720. I live in the SE & have a quote at $739/mo for 39 mos, 15K miles year w/ $1,239 down. Is this in line with other lease deals?

    Also, do you know the current GMAC residuals and money factor's (interest rate?) for the SRX V8's @ 15K miles annually @ 36 & 39 months?

    Thnaks a lot

    SteveF5
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    sand529sand529 Member Posts: 45
    Does anyone know the current lease factors for the SRX V-6 and V-8 Models (money factor, residual, etc). Im headed to look at it tmmrw and would like to get an idea of what a good price will be. Also, by location I figured I should receive about 3,000 in customer cash and incentives (conquest. ny auto show). Thanks
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    isla_guyisla_guy Member Posts: 4
    Sand529. Yesterday I leased an new late model,07SRX V-6 with only the Y45 option, Utility Pak in(BLK/Chas). I was happy with my deal. MSRP was $39,470 total (car+$1500 option and $745 delivery. I paid total out of pocket $1540 total (inception) on a Credit Card and exactly $425/mo (incl. tax of 7.5%) for a 39 mo @10K miles/yr, ultra low milage lease. I recall the residual to be ~56% with a 3.95% money cost. My insurance is State Farm and my coverages are 100/300/100 (lia) plus full w/$500 deduc, paying $409 every 6 mo. This includes all rebates and GM discounts($3325). Good Luck. My dealer was excellent! Very satisfied
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    bonwhbonwh Member Posts: 1
    Edscar - Could you please post the name of the dealership in Tampa that you leased with? I live in the Orlando area and the offer I was given did not compare. I am more than willing to make a short trip for a fair deal.
    Thanks.
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    edscarsedscars Member Posts: 8
    sure - http://www.edmorsecadillactampa.com/en_US/
    note they have nice inventory without rear "utility" seats. good luck
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    heytrayheytray Member Posts: 14
    I picked it up today. Here's my deal. I have a Black on Black V-8, Third row, Rear entertaiment, Navigation,magnetic ride control.MSRP $52,085. I paid straight invoive minus $2250. No conquest this month in my area. I have a 39 month lease 12,000 miles 3.95% interest. Down payment was Taxes, title, first month payment. My deal $611 month. I had great customer service, my dealer had to order the car because I wanted magnetic ride but not AWD. I am happy with the dealer which I drove 200 miles to get to from southern Va. to northern Va. (Lindsay Cadillac) :)
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    karldkarld Member Posts: 5
    I heard that on Car and Driver that the cadillac SRX was was no longer going to be produced after they release 2008 model. Any word out there???
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    karldkarld Member Posts: 5
    Car and driver said that the last producetion of the cadillac SRX was stopping after the 2008 model is released. Any word out there on this???? Dealer said no.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey edscars. You never mentioned the selling price or MSRP of the SRX that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, garyking, that was quite an intro line to your post :blush: . As usual, the fact that you qualify for GM Employee pricing puts you in a good position when getting your new SRX because you will be able to get a great selling price without having to haggle. Let's take a look at this truck's current lease program. 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 2007 Cadillac SRX V6 with 15,000 miles per year are 3.95% and 52%. It should be automatically included in an employee deal, but double check to make sure that the $2,250 lease cash that GM is currently providing on this truck is being taken into account on your deal.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey isla_guy. The lease cash and conquest incentives that you mentioned are scheduled to run through July 9th, so you have plenty of time.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again isla_guy. In your post you mentioned what this truck's dealer invoice price is, but never specifically said what its selling price is. If you tell me what the selling price is I would be happy to let you know what I think of this deal.

    Car_man
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