Last post on Aug 06, 2013 at 5:12 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Cadillac Escalade, Cadillac Escalade ESV, Cadillac Escalade EXT, Car Leasing, SUV
#75 of 305 Re: Cadillac Escalade: Lease Questions [Car_man]
Jun 17, 2007 (9:22 pm)
Hey Car Man,
I have a 2005 escalade that i pay $710 a month for. My lease is up this month and I am looking to roll into a new escalade (as fully loaded as possible). Here's my problem...for some odd reason I decided to get an 06 benz cls. I do love the car and i've had it over a year. however, my lease is up in june 08 on the benz and i'd like to roll that into the new escalade lease. I owe around 17k on the benz and would like to know what my options are. I'd like to do a 48-60 month lease on the new escalade so i can keep my monthly payments down. i just can't afford the benz and a new escalade and figured if i do a longer term lease, i'd be able to keep my payments under 1000 a month. Is it possible to do this? I'd like to be between 700-900 a month if possible. Any and all suggestions are greatly appreciated! I'm in South Florida and have no problem taking a lease from any dealership anywhere in the US as long as they can deliver the car. Unfortunately I have to take care of everything this week so if you can be of assistance, the sooner the better!
#76 of 305 Re: Cadillac Escalade: Lease Questions [954brian]
Jun 26, 2007 (10:48 am)
Dang - I'd trade you my '07 Escalade for our CLS. Seriously I was deciding between these very 2 cars when I got the Escalade. Too bad you are in Florida and I'm in Nebraska - we could just swap.
#77 of 305 New Money
Jul 02, 2007 (12:14 pm)
Anyone know if the lease cash has increased in light of the latest incentives GM introduced last week? Last time I looked there was $1500 cash-I know there is $750 additional GM employee bonus cash thru July 9. 2007, how or if this trickles down to leases is the question.
#78 of 305 Re: Cadillac Escalade: Lease Questions [954brian]
Jul 13, 2007 (2:40 am)
Hey Brian. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your CLS lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
If you do decide to lease a new Cadillac Escalade, definitely do so for 48 months instead of 60 months. GMAC's supported lease program on this truck is only available for up to 48 months. If you lease it for longer than this you will have probably have to pay a much higher interest rate.
Prices Paid Forum
#79 of 305 Re: New Money [shfawaz]
Jul 13, 2007 (2:43 am)
Hi shfawaz. General Motors is still providing $1,500 lease cash on the 2007 Cadillac Escalade in July. I don't believe that the additional bonus cash for GM employees was extended though. At least I haven't seen any mention of it.
Prices Paid Forum
#80 of 305 New Lease
Jul 13, 2007 (3:17 am)
I just leased an '07 Cadillac Escalade on the 9th of July, just before the latest incentives expired. I chose a 10,000 low mileage 24 month lease. The MSRP of the vehicle was $65,200 before the factory $2500 sport package discount. The dealer used this amount in calculating the lease even though the actual sticker was $2500 less. My GMS price was $54,683.65. With no money down and using a 69% instead of the 70% residual, (this unit has the 22" wheels), the residual value came to $44,988. Adding in the $595 GMAC bank fee, and subtracting both the $1500 cap cost reduction and $750 in employee bonus cash, and using the 6.15% lease rate, I calculated my payment to be $669.86 with 6% sales tax, a very attactive monthly payment considering this to be a $65,000 vehicle and no money down. Yet the dealers system came up with a payment of $675.89.
The dealer insists that our figures match (MSRP, GMS price, lease rate, residual, cap cost reductions), yet their system calculates a payment that is over $6 higher per month, or over $150 over the two years. How can it be possible that their system can be that much off?
The first contract they trotted out for me to sign showed all the figures as I calculated them, but the payment was $705.65 which after close examination, it turned out that the rent charge (interest over the two years) reflected a 6.89% rate instead of the standard 6.15%. Once corrected, the payment came to $675.65. Any ideas why such a discrepency? I calculated the payment using several reliable online lease calculators, and in the past, those lease calculators proved to be accurate within pennies-not this time.
#81 of 305 Re: New Lease [shfawaz]
Jul 16, 2007 (1:19 am)
Hi shfawaz. It is difficult for me to say why the dealer came up with a payment that is slightly higher than the one that you calculated. Did you compare payments before sales tax was added in? Perhaps you are calculating it differently than it is done in your state. At least $6 per month isn't a huge difference.
Prices Paid Forum
#82 of 305 07 Escalde Price
Jul 21, 2007 (5:00 am)
I need some help. I will be getting a new 07 Escalde next month through the GM PEP program. It's a company car with MSRP at 66985.00 and depending on the miles that I get the vehicle delivered to me the cost will be;
PEP1 1-3,000 (miles) $56770.75
PEP2 3,001-6,000 $55059.10
PEP3 6,001+ $53062.18
It says in the program that I can also get whatever incentives are out there at the time. Could you give me a rough lease breakedown with these prices and 15k miles month?
#83 of 305 07 Escalade Lease Price
Jul 21, 2007 (6:18 pm)
Hello, I'm a newbie here and in the market for an 07 Escalade. I was at the dealership today and here's what they told me.
Sticker Price: $64,160
Cash Back: Up to $8000 (Never stated the exact amount I was getting)
Monthly payment before taxes: $805
This was for a 36mo lease with 12k miles.
Does this sound right? Anyone know what the current money factor and residual value is?
Appreciate any help.
#84 of 305 ESV Lease incentives and rates
Jul 24, 2007 (2:16 pm)
Can the $1500 lease incentive be used with the $3000 cash incentive? I am looking to lease a 2007 ESV and wanted to make sure I was getting all my cash back.
Also what are the current lease rates for both 24 and 39 months?
Thanks for any help.