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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: rbirns1 (Aug 12, 2009 7:29 am) GMAC's current base lease rate for a 36 to 39 month lease of a 2009 Cadillac CTS is a very attractive 0.40%. Its special lease rate through US Bank is slightly higher at 0.96%. If you tell me what state you are in, I will gladly tell you which program is available in your area. When negotiating your lease on the CTS that you are interested in, make sure to take advantage of the $3,000 lease cash that is available on deals through GMAC ($2,750 on US Bank leases). Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Aug 18, 2009 2:18 am) What is the MF and residual in GA? and available lease cash? thx
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Replying to: Car_man (Aug 18, 2009 2:18 am) I am in MA, what are new August lease quotes and other incentives? |
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Replying to: Car_man (Aug 18, 2009 2:18 am)
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Replying to: smithsonga (Aug 18, 2009 5:48 am) On top of this special interest rate of practically zero percent, General Motors is providing a $3,000 cash incentive on leases of this car through GMAC. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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