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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: Car_man (Sep 03, 2009 2:54 am)
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Replying to: rbirns1 (Sep 03, 2009 7:00 am) $50,000 X .36 residual (15k miles) = $18,000 If you pay $42,000 - $18,000 = $22,000 owed. Add about $2,000 interest = $24,000 owed $24k / 36 = $666 With $3600 down, payment goes to $566, but no real savings. The residual on this used to be about 52% in 2007, higher for 10 + 12k miles. Ask your dealer to see the residuals page. Then you can decide the number of payments. They don't negoiate the residuals. GMAC sets them. They should not be a secret any more than the MSRP.
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Replying to: artmbgolf (Sep 03, 2009 9:00 am) |
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Replying to: Car_man (Sep 03, 2009 2:42 am) http://mediaroom.kbb.com/kelley-blue-book-announces-winners-2009-best-resale-val- ue-awards And you wonder why GM is in trouble.......
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I went to the dealership and found a 2009 CTS MSRP for $43,535. Because my dad was a GM employee I get the GMS price of $39000. The car has 2110 miles on it(a demo). They want me to pay the sales tax upfront(8%) w/ first month payment and fees which is around $3650. They are giving a $3400 rebate but the money factor is 0.725 and the residual is 38%. He got the payment to $485 for 39 months if I put the $3600 down but I want to use the $3400 as my down payment and want a better price on the car since it was a demo. Can you tell me what kind of a deal I should be working towards and the money factor seemed very high and the residual not very good. I have not leased before and am very confused as to all the numbers, HELP! |
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Replying to: rbirns1 (Sep 03, 2009 7:00 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: rbirns1 (Sep 03, 2009 7:02 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: billmv (Sep 03, 2009 9:48 am)  . Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: njitalianangel (Sep 03, 2009 5:08 pm) Given the fact that you are already getting this car at the GMS price and the dealer us using GMAC's base lease rate to calculate its payment, you don't have a lot of additional room to negotiate. The only flexible part is how much of an additional dealer discount you are given for the demo miles that this car has. I personally would want a substantial additional discount to go with a demo vehicle over a similar brand new model. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: njitalianangel (Sep 03, 2009 5:08 pm) Your money factor sounds like it might not be a GMAC lease, per CarMan's post. Yes you should get the rebate taken off your $39000 price. The residual is based on annual mileage and set by GMAC or the bank. Putting $ down (rebate or cash) lowers your lease payment, but it doesn't save you $ overall. However, putting the $ down is better than if you spend it on other stuff, unless you need it now for other stuff. Dealers hope to sell a demo for at worst invoice. There isn't a set amount to take off for it being a demo, but there should be something off. Make sure you get a statement showing the in service mileage of 2110. . The car has 2110 miles on it(a demo). residual is 38%. He got the payment to $485 for 39 months if I put the $3600 down but I want to use the $3400 as my down payment and want a better price on the car since it was a demo. Carman posted 36%. Is your 38% for 12k? |
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