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Prices Paid: Buying & Leasing Experiences Cadillac CTS Lease Questions
370 messages, Last post on Oct 07, 2009 at 9:15 AM
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I'm considering leasing a CTS through US Bank. Edmunds currently lists 5 different rebates and I'm trying to figure out which ones I'm eligible for. I've asked a couple of dealers and I think they are either misleading me or they are absolutely clueless... I currently lease an Infiniti and must turn it in on 9/20. I qualify for GMS employee pricing. I know I get the $7000 rebate. I also believe I qualify for the additional $2000 rebate since I'm currently in a lease that ends before 10/31. Two dealers have told me "NO" to that - I only get up to $7000 total rebate. My gut tells me this is bogus, but I really don't know... As for the other three rebates... I know I don't qualify for the $1000 owner loyalty rebate, but there is still a $1000 GM Bonus Cash and $1500 Customer Cash rebate. Perhaps these are only for a purchase though?? Any help is appreciated!
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Replying to: hoss411 (May 25, 2009 5:42 pm) |
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Replying to: hoss411 (May 25, 2009 5:42 pm) |
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Replying to: rackerman (May 25, 2009 2:15 pm) |
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Replying to: mixen (May 21, 2009 9:35 am) |
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Replying to: mixen (Jun 23, 2009 9:23 am) Leasing for 60 months is also a risk considering that the basic warranty on the CTS is only 4 years/50K miles. That means that for the last year of your lease (or anytime after you hit 50K miles) you'll be responsible for paying anything that breaks that's not covered by the drivetrain warranty which is 5 years/100K miles. http://www.edmunds.com/new/2009/cadillac/cts/101001122/standardwarranties.html
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Replying to: mixen (Jun 23, 2009 9:23 am) |
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Replying to: sam_k (Jun 23, 2009 10:49 am) Let's say the value of the car at the time of the loss is $30,000. Let's also say that the "balance" left on the lease is $35,000. I presume the insurance company pays whoever the "owner" is the value of the car, and that they are not concerned with any outstanding financing balances, either conventional or lease. Correct? So if the lessor (leasing company) gets $30,000 from the insurance company, but is owed $35,000, what do they do about the $5,000 shortfall? Go after the lessee? Using this example, the person leasing the car has come out ahead by not putting any money into a down payment, assuming the leasing company does not come after them. Conversely, I can see where putting a big chunk of money down might put the balance below the value, and in that case the lessor comes out ahead. I'm presuming the leasing company will not turn around and give the lessee any funds they may have received from the insurance company which exceed the balance due. Correct? How is any disparity between the value and the balance due handled? Thanks.
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Replying to: billmv (Jul 01, 2009 12:06 am) http://www.edmunds.com/advice/finance/articles/105266/article.html I've never heard of any leases that don't include gap insurance. You shouldn't have to pay extra for it but you should just confirm that it's included in the cost of the lease. And to answer your second question, you are correct. If you have equity built in the car from making lease payments, the leasing company will not turn around and pay the lessee any funds they may have received from the insurance company which exceeds the balance due. And for those who don't believe what I said in my previous post that any money you put down on a lease is lost if the car is stolen or totaled, edmunds.com mentions it in the following article on how to spot a good lease. http://www.edmunds.com/advice/leasing/articles/102826/article.html |
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GM announced they will resume offering leases on CTS and SRX through an affiliation with U.S. Bank. Anyone have any details on these lease offers?
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