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Prices Paid: Buying & Leasing Experiences Cadillac CTS Lease Questions
372 messages, Last post on Dec 04, 2009 at 3:48 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: pokeyrai (Jun 22, 2008 5:13 am) Zero cap cost dollars down (rolled the $595 acquisition fee in) Paid the usual upfronts of 1st month and TT&L With tax (5.5%), I am paing $665 on a 24mth/15K mile lease MSRP $50,285 Love my new CTS!!
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Replying to: pokeyrai (Jul 02, 2008 5:06 am)  ! Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jul 07, 2008 1:33 am)
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Replying to: kyfdx (May 23, 2008 5:06 pm) 1. How is Residual Value calculated ? what does it include ? 2. What is MF ? lease rate ? 3. Tax rate ? I am considering an option from the following scenarios, from the information the dealer has given me : Facts : 2009 CTS : MSRP 51850; GMS 45878 Residual value = 32596 Lease 24 mths/12K per yr : $ 798/mth; Onetime payment of $ 18400 Purchase : 4.9% for 36 mths ( $ 1439/mth) Basically, I am trying to determine the net cost to me if I Lease first, and then Buy this car, if I decide to keep it, VS buying it up front and taking a chance that it is the one I want to keep for a longer period of time. Your assistance and advice is greatly appreciated. |
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Replying to: nijhscc (Jul 18, 2008 7:54 am) |
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Replying to: pokeyrai (Jul 09, 2008 5:11 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: nijhscc (Jul 18, 2008 7:54 am) In answer to your specific questions, vehicles' residual values are based upon a percentage of their full MSRPs plus the MSRPs of any options that can be residualized. GMAC's current residual value for a 24 month lease of a 2008 Cadillac CTS with 12,000 miles per year is a whopping 71%. Banks also set vehicles' lease rates. GMAC's current base lease rate for a 24 month lease of an '08 CTS is an unattractive 6.1%. Each state calculates sales tax on leased vehicles differently. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Jul 21, 2008 2:49 am) thanks,
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Replying to: nijhscc (Jul 22, 2008 6:25 am) No, it is not true that it is always better to buy. There is 2 cost component of owning a car, the depreciation and the finance cost. Even if you pay cash out of your pocket, you still run a finance cost which is equal to the money that you can make with the cash. Comparing leasing and owning boil down to what finance rate you can get with leasing vs buying. And what residual a manufacturer set for a car. If a manufacturer is running special for leasing a car (i.e. lease cash, lower money factor e.g. right now you have cars that has money factor equal to 3+% interest rate..) or set residual artificial high than it is better to lease a car. If it is the other way around, then it is better to buy a car. |
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