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Cadillac CTS Lease Questions

371 messages,  Last post on Nov 24, 2009 at 6:23 AM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Cadillac CTS, Cadillac CTS-V, Car Leasing, Sedan


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#336 of 371
Re: CTS lease [billmv] by sam_k
Jul 01, 2009 (2:53 am)
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Replying to: billmv (Jul 01, 2009 12:06 am)

billmv, there's a very simple answer to your first question. When you lease, the lease should include something called "gap insurance". As the name implies it covers the difference between what your insurance company will pay the finance company and what's owed to them. In your example, if the leasing company is owed $35K and the insurance company will only pay $30K, gap insurance will cover the $5K difference. Here's a link to an edmunds.com article that explains gap insurance.
 
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
#337 of 371
New lease offers by rbirns1
Aug 12, 2009 (7:29 am)
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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?
#338 of 371
Re: New lease offers [rbirns1] by Car_man HOST
Aug 18, 2009 (2:18 am)
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Replying to: rbirns1 (Aug 12, 2009 7:29 am)

Greetings rbirns1. What you read is correct, General Motors did finally reintroduce leasing on a select number of models. It actually is running two different special lease programs this month, one through its traditional captive finance company GMAC in most regions and one through US Bank in a select number of states.
 
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
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Prices Paid: Buying & Leasing Experiences Forum
#339 of 371
Re: New lease offers [Car_man] by smithsonga
Aug 18, 2009 (5:48 am)
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Replying to: Car_man (Aug 18, 2009 2:18 am)

I have interest in this. I am in GA.
 
What is the MF and residual in GA? and available lease cash?
 
thx
#340 of 371
Re: New lease offers [Car_man] by borisg
Aug 18, 2009 (7:58 am)
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Replying to: Car_man (Aug 18, 2009 2:18 am)

This sounds like a great offer with the $3K offering.
 
I am in MA, what are new August lease quotes and other incentives?
#341 of 371
Re: New lease offers [Car_man] by rbirns1
Aug 18, 2009 (8:00 am)
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Replying to: Car_man (Aug 18, 2009 2:18 am)

I'm in NY. What about residuals? Critical for figuring out the bottom line. Thanks in advance.
#342 of 371
Re: New lease offers [smithsonga] by Car_man HOST
Aug 20, 2009 (1:51 am)
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Replying to: smithsonga (Aug 18, 2009 5:48 am)

Hi smithsonga. The GMAC lease program is available in Georgia. This program features a special lease rate of 0.4% for 36 or 39 months. This is a lease rate, not a money factor. To convert it to a money factor you just have to divide it by 2400. So, its equivalent to a money factor of around 0.00016.
 
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
#343 of 371
Re: New lease offers [rbirns1] by Car_man HOST
Aug 20, 2009 (1:53 am)
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Replying to: rbirns1 (Aug 18, 2009 8:00 am)

Hi rbirns1. The US Bank lease program, 0.96% lease rate and $2,750 lease cash, is available in New York. I have not seen US Bank's residual values for this car. I'll have to make some calls and see what I can find out.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#344 of 371
Re: New lease offers [Car_man] by smithsonga
Aug 20, 2009 (6:25 am)
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Replying to: Car_man (Aug 20, 2009 1:51 am)

Thanks CarMan. But what are the GMAC 36 and 39 month residuals?? and is this for any trim level (basically the engines). Not including the CTS-V
#345 of 371
Re: New lease offers [Car_man] by claweave
Aug 20, 2009 (5:14 pm)
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Replying to: Car_man (Aug 20, 2009 1:51 am)

I just read there is $6000 lease cash available...

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