Did you Lease or Buy?
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  1. #1
    Frikiton's Avatar
    Frikiton is offline Cadillac Owners Fanatic
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    Did you Lease or Buy?

    Hello everyone..

    I went on Cadillac's website entered my zipcode and did a Build my own for ATS.
    - 2.0 T AWD Premium
    - Cold Weather, Sunroof & Security pkg

    This is the quote I got on the estimate (depending on credit of course)
    $422/month 36 month lease. $5,318 due at signing (after all offers). Includes security deposit. Tax, title, license, dealer fees. 45000 miles end of term , 0.20 per mile over. $MSRP 48,935 ….. 36 mo payments total $15,192

    I was exchanging emails with this Dealer in PA who can get me a hold of a Black Diamond 2014 2.0T AWD Premium w/ Cold Weather & Sunroof his price is $45579 out the door but then tells me teh $2,000 Incentives are not applicable in the lease (What the hell) ? then he says the best payment he can come up with is $531 x 36 w/ 15k miles & $5333 due at signing does this makes any sense?

    When I reply and say I will do this through cadillac's website instead his reply is "Caddy's website doesn't tell me that NY state requires him(them) to collect another $3000 in sales tax, tag fees & reg fees as well.. which puses the payment to $531.. If I wanted to put $8300 down the monthly would be $430. We aren't licensed in NY so we are charge dabout $400-500 more in fees which raised your payment about $15


    PS... This is my first lease so want to make sure I get the best possible deal.

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  3. #2
    Thunder Gray STS's Avatar
    Thunder Gray STS is offline Cadillac Owners Fanatic
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    Here's how to do it.


    Negotiate the best price as if it were a purchase (and yes the $2000 is not available to a lease)
    Check the residual values for different terms, sometimes it might be better to do 39 months rather than 36
    The residual is calculated from the MSRP.
    What you pay is the difference from the negotiated price and the residual. - Depreciation Fee
    They will quote an interest rate, but it is really a money factor, so divide the interest rate by 2400 and that will give you the money factor.

    The finance fee is (net cap cost+residual) x money factor
    Depreciation fee is (net cap cost-residual)/ term

    Monthly payment is finance fee+depreciation fee

    ----------

    Oh, and never put money down on a lease. Especially now, money is really cheap.
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  4. #3
    EnvoyBu's Avatar
    EnvoyBu is offline Cadillac Owners Fanatic
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    Re: Did you Lease or Buy?

    I leased.

    2013 ATS4 3.6L Premium with everything except the Driver Assist Package and Security package.

    I pay $488 per month, zero down, zero due for 36 months with 12,000 miles per year.

    I think I got a great deal.
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  5. #4
    ben.gators is offline Cadillac Owners Connoisseur
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    Re: Did you Lease or Buy?

    ^
    That's a great deal! Tax is included or not? Also did you get any employee or any other special discount that brought your payments down?
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  6. #5
    Hoosier Daddy's Avatar
    Hoosier Daddy is offline Moderator
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    Re: Did you Lease or Buy?

    Bought. Ordered our ATS. By the time it arrived there was a zero percent interest purchase option, so took that rather than pay cash. Was pretty surprised they automatically rolled well over 4 grand of taxes and registration into the loan, so no outlay at time of delivery. Among the reasons I don't lease is because I don't like being locked into a car for any amount of time.
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  7. #6
    Stevo Supremo's Avatar
    Stevo Supremo is offline Cadillac Owners Connoisseur
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    Re: Did you Lease or Buy?

    Leased, I got such a dirty deal I couldn't say no haha! I get bored of cars quickly, and after 3 years I know I'll want something else, leasing just works for me, I dont put many KM on cars, and after 3 years I can just drop it off, walk away, none of the issues the car will develop will be my issue and I can step right into something else.

    and lets be honest... at my age being able to drive this around is a privilege, I know I could "own" something cheaper, but I'd rather be driving this thing around then owning a cobalt or soemthing right?
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  8. #7
    bluecrayon is offline Cadillac Owners Fanatic
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    Leased because I'm hoping to get out early in a couple years for a V! Or go bigger when my kids get bigger like a cts v or an xts v. Would love to get out early in a couple years for an ats v but unfortunately my kids will be 8 and 3 by then so the size of an ats v might be an issue. And lastly I have a hard time buying my first "luxury" sedan and spending this much money in case I don't like it or feel it's worth it. Unfortunately, even though I really like much of what the car has to offer, I'm not sure I'd have been happy buying a 45,000 car that has the problems it does. Not as impressed as I'd hoped to be. Problems after 2,000 miles include replaced onstar unit, replaced fuel pressure sensor, replaced gas tank, moldy air conditioning smell at startup, loose/ creaky drivers seat and stumbling idle.
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  9. #8
    Psu12kc is offline Cadillac Owners Member
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    Re: Did you Lease or Buy?

    Quote Originally Posted by Stevo Supremo View Post
    Leased, I got such a dirty deal I couldn't say no haha! I get bored of cars quickly, and after 3 years I know I'll want something else, leasing just works for me, I dont put many KM on cars, and after 3 years I can just drop it off, walk away, none of the issues the car will develop will be my issue and I can step right into something else.

    and lets be honest... at my age being able to drive this around is a privilege, I know I could "own" something cheaper, but I'd rather be driving this thing around then owning a cobalt or soemthing right?
    Agreed. I enjoy leasing for pretty much the same reasons. I love being able to get a new car every three years.
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  10. #9
    EnvoyBu's Avatar
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    Re: Did you Lease or Buy?

    Quote Originally Posted by ben.gators View Post
    ^
    That's a great deal! Tax is included or not? Also did you get any employee or any other special discount that brought your payments down?
    That's with tax included.

    I got the GMS discount and that's it. I think I got a really good deal.

  11. #10
    M5eater's Avatar
    M5eater is offline Cadillac Owners Connoisseur
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    Re: Did you Lease or Buy?

    OP, there's a question in your title, but there's no follow through.

    Have you priced out what an actual loan rate would be for this car?

    There's very attractive 0% financing for 60 months right now. Those kinds of rates are getting a lot harder to come by today.

    BMW advertises a 3% rate for example.

    If you like to move in and out of cars once every 2-3 years, leasing may be convenient, but only if you truly consider them disposable things, and you need to then think of the car as a glorified rental contract (because it is) you're responsible for beyond what's considered normal wear and tear, which you might otherwise just ignore on a car you actually own.

    As someone that's had 2 prior leases, the ATS is 100% financed through a 1.99% rate. I'm actually only paying a few hundred less than my V because of my mistakes going through a lease, but sometimes you need to learn the hard way I suppose.

    If you have any thoughts of owning the car, trading it in early or going beyond the boundaries of the contract, my advice would be to weigh your options carefully. Leasing only makes sense in the aspect that you strictly adhere to the guidelines of the lease.
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  12. #11
    Dave3283's Avatar
    Dave3283 is offline Cadillac Owners Fanatic
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    I want to keep this car for 7 years or so. With our rates in Canada the math said to lease and buy out in four years. Lease rate was low enough that money is better invested.

  13. #12
    Felton10 is offline Cadillac Owners Member
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    Re: Did you Lease or Buy?

    I always bought rather than leased and used the trade-in as the DP on my new car. Traded in a 08 CTS when I bought my 2013 ATS and they gave me the option of giving them the CTS and driving out in a ATS leased for 3 years without having to give them a cent ever. Passed on that and bought the car.

    Zero % financing wasn't available in Feb, but even if it was, the rebates were worth more. At 2.76% my total finance charges are a little over 1k so any rebates over 1k in lieu of zero % financing makes it better to take the rebates and find your own financing.
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  14. #13
    PAO56 is offline Cadillac Owners Member
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    Re: Did you Lease or Buy?

    bought as put way too many miles on a car...2k a month to lease one...so purchased base 2.5L model for $33K out the door...TTL included....only option was CUE.......its my daily commuter with a 12 SRX Performance for the road trips.....
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  15. #14
    bravnik is offline Cadillac Owners Fanatic
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    Re: Did you Lease or Buy?

    I leased mine. 2013 Premium RWD Auto Black/MR, 2.0l. Moon Roof, Heated Seats/Steering Wheel, Drivers Assist (but not the 3k security package) $435 for 3 years, 10k a year, zero down. I tend to lease as I like a new car every 3 years as that seems to be my limit of wanting to own one so a lease works well for me.
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  16. #15
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    GJB
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    Re: Did you Lease or Buy?

    Bought mine. I took advantage of the 36 Month 0%. Although I like a new car more often I usualy keep them for 6 years. I pay them off usualy within 36 months and this way I can save the post loan payment money and put it toward the new car. This gives me the option of paying cash when interest rates are higher.
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