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2009-2014 Cadillac CTS-V General Discussion Discussion, any lease pricing yet?????anyone??anyone??? in Cadillac CTS-V Series Forum - 2009-2014; When I see the word "lease," the first thing that pops into my head is Americans overextending themselves for luxuries ...
  1. #16
    StealthV's Avatar
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    Re: any lease pricing yet?????anyone??anyone???

    When I see the word "lease," the first thing that pops into my head is Americans overextending themselves for luxuries they really can't afford. This monetary strategy permeates from the minimum wage earner all the way to the core of our government.

    My new V will be in the garage forever or until the insurance company hauls it away like the last one. And I'm not going to pay someone else a penny of interest to do it; I'll make that interest on the front side.

    Then again, I'm just an old school, country boy.

  2. #17
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    Re: any lease pricing yet?????anyone??anyone???

    When I hear lease, I think business expense pre-tax dollars. If your lease is not a business write-off, then usually the only leases that are cost-effective are those that are factory subsidized.

  3. #18
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by Dr Chill View Post
    When I hear lease, I think business expense pre-tax dollars. If your lease is not a business write-off, then usually the only leases that are cost-effective are those that are factory subsidized.
    I use my V 100% for sales & support visits to our clients.

    It would probably be a good business investment to upgrade to a V2

  4. #19
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by StealthV View Post
    When I see the word "lease," the first thing that pops into my head is Americans overextending themselves for luxuries they really can't afford. This monetary strategy permeates from the minimum wage earner all the way to the core of our government.

    My new V will be in the garage forever or until the insurance company hauls it away like the last one. And I'm not going to pay someone else a penny of interest to do it; I'll make that interest on the front side.

    Then again, I'm just an old school, country boy.
    thats old school thinking just like my mom said, ...basically i paid for my 05ctsv a total of 16,400 for the two years and down payment..my 07 stsv will be costing me a total of 21,680 for the two years...so you tell me im i ahead??? plus dont have to worry about selling the car..we have to face the fact of depreciation on these cars are brutal..

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    50cal is offline Cadillac Owners Member
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by 1fstkde View Post
    thats old school thinking just like my mom said, ...basically i paid for my 05ctsv a total of 16,400 for the two years and down payment..my 07 stsv will be costing me a total of 21,680 for the two years...so you tell me im i ahead??? plus dont have to worry about selling the car..we have to face the fact of depreciation on these cars are brutal..
    Exactly, the XLR-V is leased and capped at $90k. Can you imagine if that car was paid for in cash, with the sort of depreciation the vehicle would take? Talk about taking it where the sun doesn't shine.

    People who don't understand leasing or the ones who get burned because they don't understand leasing are usually the ones who bad mouth it.

    The richest people I personally know, lease their vehicles.

    And being a tax write off is just one advantage to leasing. Even if you can't write off the vehicle, there are plenty advantages to leasing. Don't have to worry about resale, who cares if the car gets blasted in an accident (resale issues), you pay for the mileage used, you can be careful with the vehicle but not be anal about every damn place you park it, etc.

    Buying really only makes sense if you keep a car 5+ years. If you don't, then leasing makes a strong argument. Because if you dump a purchased new vehicle in 2-3 years, generally you're going to take a nice depreciation hit (especially in this hohum buyers market).

    And while the thought process of "you lease it because you can't afford it" does ring true in many cases. Honestly, anyone paying $900/month+ for a $65k car generally I would think could buy it if they chose to do so. Maybe not stroke a check for it, but finance it.

  6. #21
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    Re: any lease pricing yet?????anyone??anyone???

    Hope it's 65k

  7. #22
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    Re: any lease pricing yet?????anyone??anyone???

    [quote=50cal;1487649]Exactly, the XLR-V is leased and capped at $90k. Can you imagine if that car was paid for in cash, with the sort of depreciation the vehicle would take? Talk about taking it where the sun doesn't shine.

    People who don't understand leasing or the ones who get burned because they don't understand leasing are usually the ones who bad mouth it.

    The richest people I personally know, lease their vehicles.

    And being a tax write off is just one advantage to leasing. Even if you can't write off the vehicle, there are plenty advantages to leasing. Don't have to worry about resale, who cares if the car gets blasted in an accident (resale issues), you pay for the mileage used, you can be careful with the vehicle but not be anal about every damn place you park it, etc.

    Buying really only makes sense if you keep a car 5+ years. If you don't, then leasing makes a strong argument. Because if you dump a purchased new vehicle in 2-3 years, generally you're going to take a nice depreciation hit (especially in this hohum buyers market).

    And while the thought process of "you lease it because you can't afford it" does ring true in many cases. Honestly, anyone paying $900/month+ for a $65k car generally I would think could buy it if they chose to do so. Maybe not stroke a check for it, but finance it.[/qu coulndt have said it any better .50....

  8. #23
    urbanski is offline Cadillac Owners 10000+ Posts
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by StealthV View Post
    Then again, I'm just an old school, country boy.
    ive never heard you talk like that...and its refreshing!

  9. #24
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    Re: any lease pricing yet?????anyone??anyone???

    Unless you put too many miles on a car, in which case a lease makes no financial sense. If you own more than one vehicle and can let a lease sit to keep the miles at 12K or less per year, then it is probably the better way to go. But personally I do 19-21K per year and it's not an option.


    I can't see how any dealer can quote a lease price at this point when the final pricing isn't known yet. Unless they're just overestimating cost to cover it.

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    50cal is offline Cadillac Owners Member
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by CIWS View Post
    Unless you put too many miles on a car, in which case a lease makes no financial sense. If you own more than one vehicle and can let a lease sit to keep the miles at 12K or less per year, then it is probably the better way to go. But personally I do 19-21K per year and it's not an option.
    You can get miles for more than 15k/year, just that the residual will of course go down. Not sure if dealers will go 20k/year, but 18k/year is not uncommon.

    Obviously you have to take it on a case by case basis. But if you buy a new car like a CTS-V and put that kind of mileage on it (60k in 3 years for example). Selling it at that point probably wouldn't make sense as you would get rather hurt on resale (mileage combined with vehicle wear & tear). Might as well keep the car for awhile longer. Personally, I think it pays in many cases to weigh both options even if you do higher annual mileage. Doesn't cost anything to inquire, why not.

    1fstkde -

  11. #26
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by 50cal View Post
    You can get miles for more than 15k/year, just that the residual will of course go down. Not sure if dealers will go 20k/year, but 18k/year is not uncommon.
    They will offer up to 20K miles, but by the time you get it up that high, you're not far from a purchase price(payments). Plus I can't guarantee I won't go over that since I have in the past. As you and I know once you start going over the mileage, it costs out the wazoo.

  12. #27
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by 1fstkde View Post
    stealth your right,..just get bored real quick..was contimplating purchasing the new zr1 though..
    Thought that those were all sold out already.

  13. #28
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by CIWS View Post
    They will offer up to 20K miles, but by the time you get it up that high, you're not far from a purchase price(payments). Plus I can't guarantee I won't go over that since I have in the past. As you and I know once you start going over the mileage, it costs out the wazoo.
    As far as I know banks will write a lease for as many miles as you need. When I was working with Chrysler years ago they would write a lease up to 100,000 miles per contract so with a 2 year lease you could get 50,000 miles per year...price goes up accordingly. Maybe someone from GMAC can confirm what their bank will allow.

    I would also argue with your math on the purchase price payments. If the car stickers at $60,000 (rumors and conjecture) and you buy the car and keep the term the same as the lease 24 month purchase vs 24 month lease your payments will be many many many hundreds of dollars more than the price of the lease, even including the additional 8,000 miles per year that you would be buying.

    Look at it this way: if the standard lease is 15,000 miles per year and you need 20,000 miles per year you really only need to buy 5,000 extra miles per year. Even at 20 cents per mile (I acutally believe that they sell you the miles into the lease at 15 cents, but it has been a while since I have needed that many miles) that comes to another $83 per month on top of the price of the 15,000 mile per year lease.

    If you would be able to lease the car for 2 years at $1,000 per month (plus the additional $83 for the extra miles) your payment would still be about $1,500 less than buying the car for the same term (24 months vs 24 months). You would be about $700 less per month than financing the car for 36 months and have 12 less payments to make. You would be about $300 less per month even extending the financing to 4 years and still keeping the lease at 24 months (again assuming that you could get the lease at $1,100 per month.

    Really the only way that you could get the payments to become competitive with eachother is to finance the car for 60 months. In financing the car for 5 years you are getting to the $1,100 per month price range in the purchase plan. So in the end you would spend an additional $41,758.52 on the car (60 month payment is $1,159.97*36 additional months of payments =$41,758.52).

    So what am I saying here? If you think that you could sell the CTS-V in 5 years with 100,000 miles on it (remember we need 20,000 miles per year right?) for something more than $41,758.52 then you win by financing it. If not then lease the silly thing and let the bank take the depreciation loss.

    Then the best part of the lease is that you know ahead of time what you can buy the car for. So if the market goes nuts on these cars and everyone and their brother wants one and you see the market is actually up on these cars when you are scheduled to return the lease you can buy it and sell it, or buy it and keep it for a predetermined price.

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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by StealthV View Post
    Rule #439 - Never make payments (purchase or lease) on a depreciating asset. Pay cash.
    WARNING, WARNING....BAD RULE TO FOLLOW!! I would agree with this sentiment if rule #439 said Pay cash and buy used. But I would NEVER NEVER NEVER NEVER NEVER NEVER EVER pay cash for a new car...One exception, I might do it on a Ferrari where I could buy at sticker and sell at a profit the same day..but you would be better off putting your cash in a coffee can and burying it in the back yard as to purchase a HEAVILY depreciating asset with it. You would loose 20-30% the first year by using it to purchase a car and would loose 0% burying it in the back yard (assuming you can remember where you buried it )

  15. #30
    urbanski is offline Cadillac Owners 10000+ Posts
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    Re: any lease pricing yet?????anyone??anyone???

    Quote Originally Posted by Buzz48317 View Post
    WARNING, WARNING....BAD RULE TO FOLLOW!! I would agree with this sentiment if rule #439 said Pay cash and buy used. But I would NEVER NEVER NEVER NEVER NEVER NEVER EVER pay cash for a new car...One exception, I might do it on a Ferrari where I could buy at sticker and sell at a profit the same day..but you would be better off putting your cash in a coffee can and burying it in the back yard as to purchase a HEAVILY depreciating asset with it. You would loose 20-30% the first year by using it to purchase a car and would loose 0% burying it in the back yard (assuming you can remember where you buried it )
    yup. and that new car will lose 60% in 4 years. if you have a million in the bank and want to buy new, go for it. but you nailed it.
    StealthV is right, that fleeces are stupid, and amount to renting at over 14% APR.....cash for a 1-2 year old car is where its at. just ask any millionaire, thats what they did, and thats why they are millionaires

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