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Cadillac CTS, Cadillac CTS-V, Car Leasing, Sedan
#399 of 976 Cadillac CTS Luxury Edition $389/month
Jun 28, 2010 (4:40 pm)
I'm in NJ and about the pull the trigger on leasing a 2010 Cadillac CTS Luxury model. The car is RWD, 12k/year, and everything else it comes with is standard in the Luxury package. Tax/titles/etc works out to be around $2,700 down. The price I negotiated with the dealer is $389/month. From what I've seen on these postings the price seems great. Can someone confirm whether or not this is a good deal? I had wanted the base model and could have gotten it for $349/month but they didn't have black.
Also, does anyone know where I can get a GM Customer Appreciation $1,000 certificate? Can I try calling GM to get one? I didn't attend any of their sponsered events but I do have a GM Credit card.
#400 of 976 July lease incentives
Jul 02, 2010 (12:20 pm)
Are there new incentives for July on the CTS AWD Premium? I dont see any listed on the GM site.
#401 of 976 Re: July lease incentives [jlkh]
Jul 06, 2010 (1:41 am)
Hi jlkh. Most of General Motors' June incentives are scheduled to run through today, July 6th. However, it introduced a special holiday sales event on Cadillac.
GM is now providing an amazing 0% financing for up to 6 years or $3,000 customer cash or a special lease program through GMAC featuring a $6,425 cash incentive and a low lease rate of 1.8% for 36 months on the 2010 CTS.
Prices Paid: Buying & Leasing Experiences Forum
#402 of 976 Re: July lease incentives [Car_man]
Jul 06, 2010 (7:50 am)
The dealer has provided this price quote:
2010 CTS AWD 3.6 Premium
-1000 conquest incentive
sale price 45823
I am in Illinois, so the 7% sales tax has to be included based on the purchase price.
36 month, 10K miles per year
the rate was 1.8%, 47% residual.
The quote with no money down , all taxes rolled in was $620/month, but it seems high based on the fact that there is the $6425 CCR that should be included.
Does this seem right?
#403 of 976 Re: July lease incentives [jlkh]
Jul 06, 2010 (12:21 pm)
You haven't provide enough information for me to determine whether or not the $620 payment makes any sense. However, based on this payment, I can confirm that the adjusted cap cost is $43,794.69 and should only differ from the dealer's figure by no more than a few pennies assuming that the list of 49,590 is the MSRP upon which the residual is calculated.
Specifically, what is being capitalized (i.e., financed) in the lease besides sales tax? There is a $595 GMAC acquisition fee and I suspect that it's being capped. Is there a dealer doc fee? If so, is it being capped or paid upfront? I'm guessing that you haven't made a cash or trade cap reduction. Is that correct?
What are you paying upfront? As you can see, there are just too many unknowns. But, if I had to make an educated guess, which I hate doing, I would guess that the $6,425 has already been deducted and, accordingly, is reflected in the $620 payment. Here's why this is plausible...
MSRP.................. 49,590.00 (assuming list = MSRP)
MSRP Disc.......... 2,767.00
Sell Price.............. 46,823.00 (taxable)
III tax.................... 3,350.00 (est)
Acq Fee............... 595.00 (taxable)
Dealer Fees......... 451.69 (inclu doc fees- taxable)
GROSS CAP....... 51,219.69
ADJ CAP............... 43,794.69
Res Value............. 23,307.30
Lease Rate........... 1.8%
Lease Payment.... 620.00
Amt Due at Signing: 1st Payment + DMV Fees
This would be my best guess. We can, however, avoid guessing. I suggest that you ask the dealer for their LEASE WORKSHEET. This is a computer generated document and will tell us everything we need to know including the questions I've asked above. If they refuse, RUN; DON'T WALK! Otherwise, you can email it to me at
and I'll be happy to review for you if you wish. Let me know.
#404 of 976 CTS lease
Jul 06, 2010 (12:27 pm)
The only money that is due at signing is the $620 first months payment, there is no trade or additional cap reduction. The aquisition fee (595) , doc (150) , license plates (170) and title (65) fee would be the only others. Do you know if GMAC requires a security deposit?
Assuming that those fees are correct, do the numbers work in your opinion? I will try to get the worksheet from the dealer.
#405 of 976 Re: CTS lease [jlkh]
Jul 06, 2010 (12:39 pm)
"The aquisition fee (595) , doc (150) , license plates (170) and title (65) fee would be the only others."
Does it mean the only other fees that you're paying upfront? Did you look at my entire post? I still can't answer your question as I would be guessing. I still need more info.
GMAC may require a security deposit. It depends on your credit.
#406 of 976 CTS lease
Jul 06, 2010 (12:52 pm)
Yes, those would be the other fees that are rolled into the payment. The only upfront money due at signing is the first lease payment. Of the 5 dealers that responded to my online request, only ONE would even provide any lease price info without going to the dealer! They want to make it difficult to compare.
#407 of 976 Re: CTS lease [jlkh]
Jul 06, 2010 (1:49 pm)
Okay, so the other fees (doc, license, title) total $385. If you look at my post #403 you'll see the following item...
Dealer Fees......... 451.69 (inclu doc fees- taxable)
This indicates that 451.69 - 385 = 66.69 hasn't been accounted for... and so, we still have an unresolved issue.
Also in that post, I indicated the following...
I suggest that you ask the dealer for their LEASE WORKSHEET. This is a computer generated document and will tell us everything we need to know including the questions I've asked above. If they refuse, RUN; DON'T WALK! Otherwise, you can email it to me at
and I'll be happy to review for you if you wish.
If you can't provide me with this worksheet, there really isn't anything else I can do because I would only be guessing and; that's the problem you encounter whenever you allow a dealer to "run the numbers" and "control the deal".
For whatever it's worth, here's what I do...
1st. I do research regarding residual factors, money factor (I always use the buy rate), learn applicable incentives, examine promo ads, and establish a competitive selling price using edmunds, KBB (Kelly Blue Book), and overstock at zag.com.
2nd. I create a one-page lease proposal (samples attached) with all pertinent data including a description of the vehicle, MSRP, sell price, amounts capitalized (e.g., taxes, acq. fee, etc), cap reductions (e.g., trade, cash down, etc), money factor, residual factor, residual value, term, taxable payment, lease payment, amounts due up front (itemized), contract provisions (gap insurance, excess mileage charge, applicable disposition/purchase option fees).
3rd. I Fax/email the proposal to the dealer and negotiate via phone/email from the comfort of my home/office with my laptop excel spreadsheet (actually Mathematica) lease program fired up and ready to rumble! The only thing I'm likely to negotiate is the sell price and that only requires a few keystrokes on my laptop. And, bing bang, boom I'm done!
The key (no pun intended) is that you must control the deal. Never ever allow a dealer to control the deal by allowing them to ":run the numbers". Trying to figure out the dealer's numbers is often a pointless exercise and, frankly, a waste of time. These people often lie or simply don't know what the they're talking about. Allowing the dealer to control will only end up costing you money in most instances. A one-page lease proposal speaks volumes about you... it sends the message that you know what you're talking about and you know and understand leasing. That quickly serves notice to the dealer, and so; they're not at all inclined to play games. This suggests that the biggest advantage of a lease proposal is that it saves time, money, and aggravation.
#408 of 976 CTS lease
Jul 06, 2010 (2:01 pm)
I am in agreement. I would rather not waste time. Can you attach the samples?