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2008-2013 Cadillac CTS General Discussion Discussion, Lease or Buy a 08 CTS? in Cadillac CTS Second Generation Forum - 2008-2013; Originally Posted by billab914 I have to agree with Bishop, I want the 08 bad too but I know financially ...
  1. #91
    Chuck C's Avatar
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by billab914 View Post
    I have to agree with Bishop, I want the 08 bad too but I know financially it isn't the right move and I make 70k+. I'm 26 with a background in Finance and as much as I want the nicest car now I know that it is much more important to get myself financially stable. And no matter how much we love our cars they are still terrible investments, all they do is depreciate not appreciate like other investments. Make sure think about how much of your income will be going into a poor investment and how much is going into good investments for the next several years if you make the purchase. A lease will allow you to drive something you can't afford but again you are dumping all of your income to rent something. These can be critical years for younger people to save and get themselves out of credit card debt, get a down payment for a house, and accumulate assets which in turn will allow us to drive a much nicer car later on that we can afford. Unless you have a high paying job lined up after college I would hold off on buying one. A used 04 would be better but still not a good investment choice on that income at the moment.

    Hope that didn't sound like a lecture, but I put a lot of thought into what I could afford when I got out of college with also setting myself up for the future. America in general has a problem with spending more then they can afford which isn't good.

  2. #92
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by the cadillac kid View Post
    ok so BASICALLY
    ..ur wrong

    mines leased, i can modify it all i want. I sat with the dealer, review my contract, and asked what i can and cant do. I can do whatever i want to the car to enhance its appearance, "it only adds more value to the car," to quote the dealer. my dad had a mazda he leased years ago. When he returned it, it had some scratches on the exterior and the interior didnt look brand new either... they charged him 175 or something along that line for "wear and tear" .. to fix all the damage he it would have cost him more, however, the dealership just categorized it all under wear and tear and told him to pay the standard $175 fee for "wear and tear"

    in the end, i pay less and drive the same car as someone who paid the full $43k.

    lt is a good option to have
    nik u should really go talk to your local dealership, if things dont look good for a contemporary deal, ask when they are gonna have a special. If the future looks dull, and u still want a cts, get an 03 or 04 or w/e u can afford.
    ...but it just doesnt seem like a luxury automobile is what u need right now--trade your hyundai in and get a hyundai tiburon or a pontiac solstice or saturn sky (<-- i saw the redline version.. IN PERSON THAT THING IS SOO HOT!)
    just know that u have plenty of options
    and at the end of that lease what do you have to show for it, NOTHING. youve paid for the depreciation of the car nothing more nothing less. IDK about you but after ive paid for a car id like to be able to enjoy no car payments for awhile. Going used youll pay about the same price as if you leased a new and at the end of 4 or 5 years youll have ownership of the car. Im paying a shade under 300 a mth for my 03 STS, it had only 44k on it and new it cost 58K, i got it for 16500 and at the end of that loan ill own the car, instead of nothing....

  3. #93
    ILLMATIK is offline Cadillac Owners Connoisseur
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    Re: Lease or Buy a 08 CTS?

    Somethings not adding up. If you make $400 a month theirs absolutley no way you can buy or lease an 08.

  4. #94
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    Re: Lease or Buy a 08 CTS?

    Allow me to play devil’s advocate for a moment.

    I lease for the following reasons:

    1) To stay on the cutting edge (i.e. 2008 CTS, here I come!!).
    2) Lower monthly payments.
    3) The lowest maintenance years occur during the lease term.
    4) The liberty to walk away at the end of the lease term.

    Car financing is a no-win situation. On one hand, those who buy endure six to seven years of repaying a car loan plus additional expenses for new tires & brakes, long-term maintenance, and unforeseen headaches that conveniently occur after the warranty expires. Suddenly, you’re left with a fifteen year-old car with engine knock that’s not quite as fresh as the day you bought it. Meanwhile your mechanic quotes $800 to replace the steering column and informs you that the head gaskets are “sweaty”, and the $1,000 you set aside to replace the thrice-cracked bumper goes bye-bye. Of course this scenario was just a generalization. We Caddy-folk take painstaking care of our rides (hopefully!!).

    On the other hand, those who lease enjoy the satisfaction of new-car ownership. After three years, you still woo the ladies at red lights because the car is still current. However, with just 10% “new-car smell” remaining, it’s time to hand over the keys. Suddenly you ponder the sanity of paying another company’s $21,000 depreciation expense plus another $2,000 for excess mileage and a dent that’s only detectable by an electron microscope.

    The point: as long as you operate a car, you pay. Ask yourself, do you prefer cycling fresh cars every two to three years or the utility of owning a car long-term? Personally, I prefer the lease option mainly for the above reasons but mainly to satisfy my hedonistic needs (point #1 above).

    BTW, I became emotionally attached to my last Caddy which I owned for seven years. Despite numerous maintenance bills, new brakes, two sets of tires, new exhaust, new steering, three trunk latches, new bumper new front license plate holder, smooshed leather seats, bum window motors, chipped paint, rust, dings, and dents, I loved that car until the day the engine blew up. That was a painful day. Here I am getting emotional about an inanimate object! With leasing, the relationship is short and sweet. No hard feelings, car. See ya later. Adios. Tah-tah. New CTS with a built-in hard drive and show car interior lighting? Where’ve ya been all my life!!!

  5. #95
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by ILLMATIK View Post
    Somethings not adding up. If you make $400 a month theirs absolutley no way you can buy or lease an 08.
    You forgot the daddy factor.

  6. #96
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by RightTurn View Post
    You forgot the daddy factor.
    the sugar daddy factor
    USA USA USA

  7. #97
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by CadillacETC1997 View Post
    or thats her actual reason for spawning this thread she told me straight up, "jay you have a new car and now i want one too!"
    and to be honest every day its a new car
    one day she wants a Lade
    the next its an CTS
    least im constant, i want an STS-V plain and simple....
    What? Constants ass. You were all over the damn place. Oh I'm looking at a DTS. Then two hours later you send me a million pm's about CTS'. Then something about a Fleetwood. Then back to DTS' and then the STS. So what if she changes her mind about a car. I do the same thing. I even go test drive the damn cars and try to buy them. Hell three weeks ago I almost traded the Fleetwood and CTS on a brand new GT Mustang.

  8. #98
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by Chuck C View Post
    On the other hand, those who lease enjoy the satisfaction of new-car ownership.
    Errr, but you don't own anything in a lease.

    And who says I can't have a new car every 2-3 years if I finance? Hell, I can sell it at anytime and use the money to pay it off.

  9. #99
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    Re: Lease or Buy a 08 CTS?

    Quote Originally Posted by Jon View Post
    Errr, but you don't own anything in a lease.

    And who says I can't have a new car every 2-3 years if I finance? Hell, I can sell it at anytime and use the money to pay it off.

    Obviously you could drive a car every 2-3 years under both types of financing options, but who wants to sell their car every 2-3 years? That's a pain in itself. With leasing, you simply walk away.

  10. #100
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    Re: Lease or Buy a 08 CTS?

    Its very simple. With leasing you are simply paying for what you use. You are not "throwing money away" as some people like to believe. At the end of the lease, the car is worth its depreciated value, not all the money you put into it from the start AND you still HAVE the option to buy out your lease if you DONT want to start over.

    If you like to keep cars for along time, leasing is not the way to go. If you like to SWAP cars every 2 to 3 years, leasing is the ONLY way to go to prevent from being ripped a new one in upside-down scenarios.

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