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Prices Paid: Buying & Leasing Experiences Cadillac CTS Prices Paid and Buying Experience
363 messages, Last post on Sep 26, 2009 at 8:21 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| Looking at purchasing a 2008 CTS, what is a fair price over invoice today? | |
Anybody bought a CTS lately? What should you expect beyond red tag pricing?
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| you probably arent going to get anything off the redtag sale.....I bought one during the employee discount offer last month...09 CTS fully loaded....was almost $8K off the MSRP...the CTS is still a popular model.....they are selling extremely well here in northern VA | |
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Hi all. I have what appears to be a very nice deal on a 2009 CTS pretty close to fully loaded for just under, not including taxes and such. My question is the lease deals are not very good now and I have not financed in a VERY long time. I hate to buy the car for cash as I probably won't keep it more than 3 years and thus that sounds like throwing money away. I am trying to figure out how to calculate when I will no longer be upside down on a purchase? If I finance $25K or so for 48 months, will I be right side up after 2 years, if I figure a interest rate of roughly 5.5%? This is a tough choice as I really like the CTS but the other "luxury" brands are much more flexible with lease deals. So I don't want to screw myself here, but am not very good at figuring these things out.  Thanks for any thoughts!! |
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I see I forgot to put the price offered in my post and since I can't figure out how to edit a previous post, I am reposting with the price. So here is the edited message: Hi all. I have what appears to be a very nice deal on a 2009 CTS pretty close to fully loaded for about $37,429, not including taxes and such. My question is the lease deals are not very good now and I have not financed in a VERY long time. I hate to buy the car for cash as I probably won't keep it more than 3 years and thus that sounds like throwing money away. I am trying to figure out how to calculate when I will no longer be upside down on a purchase? If I finance $25K or so for 48 months, will I be right side up after 2 years, if I figure a interest rate of roughly 5.5%? This is a tough choice as I really like the CTS but the other "luxury" brands are much more flexible with lease deals. So I don't want to screw myself here, but am not very good at figuring these things out. Thanks for any thoughts!!
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Replying to: gator5000e (Nov 18, 2008 2:43 pm) You can use the dealership bank lease, arrange for your own bank lease or using a site like leasecompare.com which shop lease for you. Buying and leasing are very similar in cost. We pay for the depreciation and the interest cost of using the car. The main difference is that at the end of the lease, the residual is set. In economic situation like ours now, manufacturer are lossing money big time because they set the residual too high a few years back. Basically manufacturer are assuming the risk that they residual may not work out the way they predict it. |
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Replying to: hopkibae (Nov 10, 2008 3:56 pm) They would not drop any lower than that at all. I thought with the times and since I was the only one in there they would. Not so much. I happy with the deal. Good rate over 60 months and the car is AMAZING and Gorgeous. This is my first Domestic car purchase in my life. I will tell all of my import friends to look into this car from this point on. It is really that nice. The drive and steering are amazing and the tech is just as grand. Good luck everyone |
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The two dealerships I have been dealing with have previously told me that any lease deal would be in the between $700 (48 months) to $775 (36 months) with 12K mile lease. Therefore, I did some shopping for possible financing alternatives and qualified for a 5.13% loan for 60 months. Payments would be roughly $650 a month with about $8,000 down. Today, one dealership calls and tells me that the lease payment has now dropped to $659 at 36 months, 12K miles with $1,887 due at signing. Dealership says no change in the MF (.00266) and Residual (49%) so I am not sure what changed. Anyway, I am trying to determine which is the best route to go and was hoping someone could give me some insight. I didn't really see a leasing vs. buying forum so if this needs to be moved, please do so. Thanks in advance.
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Replying to: gator5000e (Dec 01, 2008 11:40 am) Could you buy this car for cash. If so how much would it cost, how much interest would you lose, or how much would you have to pay for financing. How often would you like to trade for a new car (the current CTS will probably not change appreciably for the next four or five years.) All of this needs to be taken into consideration before you can decide on the best deal. |
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| Thanks, bingoman. Pretty much a fully loaded CTS - Premium collection, but Rear wheel drive. I would prefer a lease. I was just curious at the sudden drop in leasing payment with all factors otherwise the same. | |
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