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Cadillac CTS, Cadillac CTS-V, Car Leasing, Sedan
#247 of 976 Lease Rates
Mar 04, 2008 (5:01 am)
Can anyone tell me whether the GMAC base lease rate is regionalized. I have read on numerous posts that the base rate is 6.1, but all dealers in NE Ohio is quoting 7.1. Is there other factors that dictate what base rate dealers are allowed to use. I tried to get this info from Cadilac (see below) but they gave me an answer that leads me to believe that dealers can use whatever rate they deem appropriate for the market.
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
#248 of 976 Re: Lease Rates [jazz32]
Mar 04, 2008 (5:27 am)
I have been looking as well. Talked to a few dealers and been sitting on this for about 4 weeks. The cheapest rate is 6.1% set by GMAC. You have to use this is going for GMS pricing. If not, some banks may have cheaper rates.
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...
#249 of 976 Re: Lease Rates [prosport35]
Mar 04, 2008 (6:27 am)
Thanks for the info, I do have GMS and I would be more than happy with the 6.1 rate but I refuse to accept any deal at 7.1. I believe the popularity of the car has got some dealers a little exuberant and of the belief whatever they throw out people will accept. As much as I like the car, I don't like it enough to pay more than I thank is fair. What I explained to one dealer is that with such a high rate they put themselves pretty close to MB which I currently drive and who's being pretty aggressive with their negotiations.
#250 of 976 CTS Lease - Residusal % and quote
Mar 04, 2008 (3:53 pm)
Date 3-3-08 - I have two questions - The first regards the residual percentage on a 2008 Cadillac CTS lease. Is this percentage the same throughout the United States or at least regionally? I am dealing with two dealerships that are about 20 miles apart and one is using 58% and the other 59%. (I realize this changes, but believe it should be the same at both dealers?) Secondly, I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58%). Do these numbers make sense?
#251 of 976 Re: CTS Lease - Residusal % and quote [saturn9]
Mar 04, 2008 (4:52 pm)
Date 3-408 - I am ordering a 2008 CTS to lease with everything on it except the direct injection 304 HP engine (Premium 2, 18” wheels, Red paint, etc.) The lowest price “at invoice” I am getting is $43,392 and the 39 month lease on 15K mileage at $743 (residual 58% and APR 7.10. Do these numbers make sense?
#252 of 976 '08 CTS LEASE HELP
Mar 14, 2008 (1:39 pm)
I have a supplier price on a '08 CTS MSRP 42430 for 39370, but they are telling me the same 7.1 buy rate B.S. with about $1700 down. This sounds like a lot of money for a supplier pricing customer.
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!!!
Mar 15, 2008 (11:14 am)
Blue tooth kept me from CTS. Dealer will add for around $500 a system which, in fact, gives me a desired second screen.
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?
#254 of 976 Re: Lease Rates [jazz32]
Mar 16, 2008 (7:46 am)
the gmac lease rate is 6.1 % / dealers can mark this up one point to 7.1 %
#255 of 976 Re: Lease Rates [bill164]
Mar 16, 2008 (8:17 am)
Thanks for the information.
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.
#256 of 976 need info to buy/lease CTS
Mar 21, 2008 (6:18 am)
Still must decide between three DIFFERENT 2008 cars -- all that I like Lexus GS350, Cadillac CTS (with blue tooth added, giving me separate screen), or Infiniti G35. Then, must decide whether to buy or lease. Incidentally, Lexus has best mileage, but Cadillac uses regular gas. I currently have BMW 530i expiring lease which, with Edmunds help, I had leased for net MF, and much less, with multiple security deposits.
Anyway, for GS350, G35, and CTS, could you please provide:
(1) Target deal relative to invoice+destination (and any rebate)
(2) If buy, available finance rates
(3) If lease, money factor or interest for 24mo, 36 mo for 12K, 15K annually
Any better MF or interest rate for multiple security deposits?
Thank you for this information. I'll also put on other forums, in case you guys see that first.