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Thread: How often do you get a new car?

  1. #16
    Hoosier Daddy's Avatar
    Hoosier Daddy is offline Super Moderator
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    Re: How often do you get a new car?

    Quote Originally Posted by Lorne View Post
    If that's the case, what does the buyout amount mean? Is it only relevant if the car is worth more than the buyout at the end of the lease?
    It's just a cap on what they can charge you if you want to keep it. As you might guess, they might try to convince you that's what you have to pay, but it's not.

    So a sky high buy out figure at lease end is an extremely good thing for the lessee because the higher the buy out at end of lease, the less the monthly amount is. In the case of the ATS, GM paid the lessor for that high buy out to lower the payments. For example, if the lessee estimates the car will be worth x and Cadillac wants it to be y, they pay the lessee the difference.


  2. #17
    ben.gators is online now Cadillac Owners Master
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    Re: How often do you get a new car?

    When I was signing my lease papers, I asked the finance manager the very same question ; what if at the end of the lease term I like to buy the car, but the fair market value of the car is way less than the residual value. Is there any way to negotiate the buyout value and make it realistic? His answer was interesting. He told me there used to be procedures and possibilities for such cases. But during the financial crisis of 2007-2008, when the fair market values were considerably less than the estimated residual values, the dealers abused such procedures and possibilities so much that the leasing banks and GM almost totally removed such possibilities. So the short and the simple answer is no.

  3. #18
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    Re: How often do you get a new car?

    I've bought 2 cars in the last 3yrs
    Cadillac STS 2006 RWD Fully Loaded for 2yrs
    BMW 328 XI 2007 for 11 months
    Almost pulled the trigger on a CTS Coupe until I woke up from the dream to realize ATS is where its at.

  4. #19
    MoistCabbage's Avatar
    MoistCabbage is offline Cadillac Owners 10000+ Posts
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    So far, I get a new car when one is totaled...

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