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Sedans Cadillac CTS/CTS-V Cadillac CTS Lease Questions
372 messages, Last post on Dec 04, 2009 at 3:48 AM
You are in the Cadillac CTS/CTS-V Forum. Your Hosts are pat & karens
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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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Replying to: Car_man (Sep 04, 2009 1:56 am) The higher residuals of the past, in the 50-56% range for 3 years and 15-10k miles made it not such a good deal to buy the car for residual. It kept leasees leasing again. Now with 36 - 40% residual for 15-10k miles, the lease cost is higher, but if someone wants to keep the car, buying it for the residual will be a better deal than in the past.
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A reporter is looking to interview a consumer who passed on purchasing a Cadillac because there was no attractive lease option. Please send your daytime phone number to ctalati edmunds.com by Wednesday, September 16, 2009.
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Replying to: artmbgolf (Sep 04, 2009 10:53 am) |
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A reporter is looking to speak to consumers who recently leased a GM or Chrysler vehicle in the past two months . Please send your daytime phone number to ctalatiedmunds.com by Thursday, October 8, 2009.
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