Last post on Dec 02, 2013 at 12:39 PM
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Cadillac CTS, Cadillac CTS-V, Car Leasing, Sedan
#933 of 976 CTS Coupe Lease questions?
May 04, 2013 (9:26 am)
I need some help, ... (or send me some vasoline for when I go to the Dealer !
Trade-In 2010 CTS Sedan, Red, Performance, Nav, Ultraroof, 18" polished, 33K Miles, excellent condition. I owe Ally 19,888 ... Dealer wants to give me $24,00 trade-in.
Car I want to Lease: CTS Coupe, White, Sunroof, Premium = msrp $50,740
for a purchase dealer said he would discount $2386 to invoice, $2000 rebate from Cadillac)
Would this also apply to a lease? plus what is the lease rate? and residual? and how would I figure out the payment for a 36 mo lease (15,000 per yr)? (I live in Indiana = 7% tax rate)(Dealer in Ky) or what should I be looking for (mindful of) when I go to dealer?
thanks for any help!!!!
#934 of 976 CTS Coupe Lease questions?
May 06, 2013 (7:32 am)
Just talked to my dealer ...
they're saying lease rate on the White CTS Coupe is 2.4%, and residual is 56%
with a trade-in allowance of $4111 will make for a $526/mo on a 3 yr 15,000 per year lease.
Does this sound correct?
#935 of 976 Re: CTS Coupe Lease questions? [legion455]
May 06, 2013 (9:38 am)
What did the lease calculator say when you plugged the above numbers in? Were you in the same ballpark?
Sounds awfully high to me. Didn't you say they offered you like 20k for your trade?
#936 of 976 Re: CTS Coupe Lease questions? [legion455]
May 06, 2013 (10:21 am)
those numbers sound very high ,,how much is the car ,,and what are the total rebates on car also your putting over 4000 down with the trade in find another dealer dont mention the trade in find out deal then bring trade in into equasion into the # s
#937 of 976 Re: CTS Coupe Lease questions?
May 08, 2013 (8:20 am)
I've been trying to understand all of this ... so far ...
Auto Leasing: Monthly payment is sum of 3 items:
1. Depreciation Payment
2. Finance Charge
Depreciation payment = [(Net Cap Cost) - (Residual Value)] / Term of lease (months)
Residual value = MSRP x (residual percentage) [In my case: MSRP = $50,740 residual = .56]
Residual Value = $50,740 x .56 = $28,414.40 (cars value at the end of the lease)
Net Cap Cost = [MSRP] - [Down Payment or Trade-in Value] - [Dealer Discounts off of MSRP] - [Manufacturer Rebates] + [other fees]
In my Case: Net Cap Cost = $50,740 [MSRP] - $4111 [trade-in] - $2633 [Dealer Discount] - $2800 [GM Lease Rebate] + $1250 [*1st payment, prep, etc]
* Dealer said even thou I had a trade in, there was a Downpayment of 1st months lease, prep, maybe profit & other fees ,, so I told them to include it in the lease)
Net Cap Cost = $42,446 so ...
1. Depreciation payment = $42,446 [net cap cost] - $28,414.40 [residual] / 36 [3yr lease] = $389.70
2. Monthly Finance Charge = [ $42,446 [Net Cap Cost] + $28,414.40 [Residual Value] ] * .001 [Money Factor [= 2.4% [Lease Rate] / 2400]]
Monthly Finance Charge = $70.86
3. Sales Tax payment = [Depreciation Paymt + Finance Charge * Indiana Tax rate = .07] = $32.24
$389.70 + $70.86 + $32.24 = $492.80, monthly lease payment.
They quoted me $525/mo ... so, ... when I go in tomorrow to pickup car,... I'll have to figure out what the difference is.
Yep, I better take some Vasoline with me ....
May 08, 2013 (3:06 pm)
Hi mrcoupe. I think that the lease program is about the same in May as it was in April.
Ally's current base lease rate and residual value for a 24-month lease of a 2013 Cadillac CTS Coupe with 15,000 miles per year are 1.0% and 65%.
The numbers for an otherwise identical 36-month lease are 1.9% and 55%.
General Motors is currently providing a $1,300 cash incentive on 24-month and $2,800 on 36-month leases of this car.
Prices Paid: Buying & Leasing Experiences Forum
#939 of 976 Re: CTS Coupe Lease questions? [legion455]
May 08, 2013 (3:09 pm)
Hi Allen. The $2,000 dealer cash is not available on leases of this car, but there is an even better $2,800 cash incentive on 36-month leases.
Please see my previous post for the lease information that you're looking for.
There's nothing wrong with trading in your current vehicle when leasing a new one, however you should have the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease.
Prices Paid: Buying & Leasing Experiences Forum
#940 of 976 Re: hello [Car_man]
May 08, 2013 (3:22 pm)
Hey there, thanks for the post... you said:
36-month lease are 1.9% and 55%.
But, my dealer told me on the CTS Coupe 2013,... it was 2.4% lease rate and 56%. (ally) (36 months)
How do I find out what's really true? I'm supposed to go back tomorrow afternoon to sign and get the car.
Confused in Louisville .... Allen (and my credit score is almost 800!)
#941 of 976 cts leases (coupe)
May 08, 2013 (4:15 pm)
what a diff 1 year makes the deals were better last year at this point guess car sales are good,,,,the lease on my srx i up and i really though i would see some better numbers,,so far
i am at 515 1300 out of pocket premium w nav crome rims awd 52.640 coupe
May 09, 2013 (5:45 am)
You guys talking about "taking vasoline to the dealer" ... I just have a question.
Why don't you stand up to the dealer, figure out exactly where their numbers are coming from - as in that last case, figure out where that extra $30-40 a mo is coming from and if you don't agree with it, NEGOTIATE. OR WALK! Find another dealer that won't d!ck around. Seriously, it's so sad to see you all talk about things like you're being held hostage by the dealers and seemingly are just spectators in this process.
On the other hand, maybe I shouldn't complain since all you people that overpay allow me to negotiate much better deals.