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Cadillac CTS, Cadillac CTS-V, Car Leasing, Sedan
#67 of 978 Quote
Aug 04, 2006 (12:43 pm)
I spoke with a dealer here and he offered me the following:
2006 Cadillac CTS
4dr Sedan (2.8L 6cyl 6M)
$33,635 MSRP (Edmunds shows $32,390)
$31,800 invoice (Edmunds shows $30,080)
3.95% base lease rate
.53 Residual = $17,826.55
Cost reduction -$2,800 (Edmunds shows -$3,000)
Administrative fee "charged by GMAC" $780
All for $32,678 (he says it's invoice + administrative fee + $500 + his cost of sending a driver to get the car from another dealership).
Is he lying about the MSRP and invoice here? I understand these things can change, and he said that this car is >200 days old so has the "older MSRP". I am willing to give him $500 but only if he is giving me accurate information in regards to MSRP, invoice, and that the administrative fee is really charged by GMAC.
#68 of 978 Quote addition
Aug 04, 2006 (12:44 pm)
Forgot to include that that MSRP and invoice includes:
M82 5-Speed Shiftable Automatic Transmission ($1,200 MSRP, $996 invoice)
CF5 Power Glass Sunroof w/Express Open ($1,200 MSRP, $996 invoice)
#69 of 978 Re: Is it a good deal? [Car_man]
Aug 04, 2006 (6:21 pm)
I really don't know. The 'agreed upon value" in the lease contract is $36,494. and the gross capitalized cost is $37.450.
#70 of 978 $299 Money Factor
Aug 07, 2006 (10:43 am)
Does anyone know the money factor that Cadillac is using for its 299/mo setup?
#71 of 978 2005 CTS
Aug 07, 2006 (4:47 pm)
Any idea what the dealer incentive and Residuals would be for a 2005 CTS. I would like to do a 39 or 48 month with 15,000 miles. A local dealer has a new 2005 CTS with Sport package and Auto Trans. MSRP is 42,000. I am hoping to get about 10,000 off MSRP, maybe more. Nobody was there tonight, gonna go back tomorrow to try to deal.
#72 of 978 Follow up on 2005 CTS
Aug 08, 2006 (9:07 am)
The 2005 CTS I mentioned above has the 1sc package, sport package, luxury package, autotrans. Just curious if they still offer the non-GM owner bonus?
#73 of 978 Re: Lease numbers for 2006 CTS (Demo car) 3.6 L Automatic [radioative2006]
Aug 15, 2006 (2:19 am)
Hi radioative2006. What is this car's full MSRP? I ask because this number will show me how much of a discount you are being given and it will enable me to use GM's current lease program to estimate its monthly payment. For now I can tell you that it is not in your best interest to make such a large down payment on this lease. Consumers can and should lease any vehicle that they are interested in without making any sort of down payment. I say this because if your leased vehicle is totaled in an accident or stolen and never recovered during your lease your down payment essentially disappears. Anyhow, let me know this car's MSRP and I'll tell you what I think.
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#74 of 978 Re: Question about incentives and credit score [aph]
Aug 15, 2006 (2:25 am)
Hello aph. Consumers' credit scores do not have any impact upon the cash incentives that are available on vehicles. They only impact the interest rate that you will be charged if you want to finance or lease. This is a moot point anyhow because I do not believe that the aforementioned dealer cash is compatible with GMAC's special lease program for this model. GMAC is usually fairly lenient in who it approves for its special finance and lease offers. While I cannot say for certain, I suspect that there is a very good chance that you will qualify for GM's special lease program for the CTS.
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Aug 15, 2006 (2:36 am)
Hi aph. The 3.95% lease rate that you were quoted for this car is right in line with GMAC's current base lease rate for it. This is always a good thing. While GM is providing $3,000 customer cash on the '06 CTS right now, its normal customer cash incentives are not compatible with special leases through GMAC. GM has special lease cash incentives that are compatible with leases through GMAC. Its current lease cash allowance on the '06 CTS 2.8L is $2,800. The "Administrative Fee" that you were quoted is too high though. GMAC charges a $595 acquisition fee on every vehicle that it leases. You shouldn't have to pay any more than that. $500 over dealer invoice minus the $2,800 lease cash for a car that this dealer has to swap for is a very reasonable deal. I'm not sure why the prices that the dealer you are working with mentioned are different than the prices that you saw listed here though. The "older" MSRP excuse really doesn't fly. When GM reduced the MSRPs of its cars in mid-January it gave dealers dealer cash on their existing inventory to make up for the difference. Any '06 CTS 2.8L that this dealer has had in inventory prior to the price reduction would be eligible for $803 dealer cash.
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#76 of 978 Re: $299 Money Factor [dman090]
Aug 15, 2006 (2:38 am)
Hi dman090. GMAC's current base lease rate for the 2006 Cadillac CTS is 3.95%. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. So a lease rate of 3.95% would be equivalent to a money factor of around .00165.
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