Cadillac
 

Cadillac Forums | Help Us Help You | Advertise | Cadillac Parts | Cadillac News | Cadillac Classifieds

Cadillac Technical Archive | Cadillac Dealers | Cadillac Reviews | Cadillac Dealer Reviews | Cadillac Vendors

Results 1 to 6 of 6

Thread: Cost of purchasing ELR in Los Angeles

  1. #1
    Blastphemy is offline Cadillac Owners Enthusiast
    Automobile(s): 2018 CT6 plug-in
    Join Date
    May 2012
    Location
    Montana
    Posts
    569

    Cost of purchasing ELR in Los Angeles

    Here's a breakdown of what it would cost to purchase the ELR at its base price in Los Angeles:

    $75,000.00 - MSRP
    +$7,312.50 - sales tax (9.075%)
    +++$995.00 - delivery charge
    +$1,692.50
    - DMV, doc fees, tire fee, etc. (best guess)
    ----------

    $85,000.00 - TOTAL

    Taking competitive auto loan rates from Bankrate on a 60 month payment period (3.75%), the monthly payment would be $1,555.83
    . A 48-month payment period @ 3.03% = $1,882.55/mo, while a 36-month payment period @ 1.99% = $2,434.25/mo.

    If one bought the ELR in February, then one could expect a $1,500 tax rebate check from California by June 2014.

    If one bought the ELR in 2014, then one could expect to have a Federal tax credit that would offset up to $7,500 of any taxes owed to the IRS when taxes are filed in March/April 2015.

    California would process the owner's carpool lane stickers by approximately June 2014 (assuming the dealer expedites the license plates), and those stickers would grant single-driver HOV lane access through January 1, 2019.

    Here's another scenario:

    $75,000.00 - MSRP
    +$7,312.50 - sales tax (9.075%)
    +++$995.00 - delivery charge
    +$1,692.50
    - DMV, doc fees, tire fee, etc. (guess)
    -$2,000.00 - GM Card points redemption
    -$3,000.00 - down payment (or trade-in)
    ----------

    $80,000.00 - TOTAL

    60 month payment period @ 3.75% = monthly payment of $1,464.31
    48 month payment period @ 3.03% = monthly payment of $1,771.81
    36 month payment period @ 1.99% = monthly payment of $2,291.06

    Here's one more scenario:

    $82,000.00 - MSRP + possible upgrades/packages
    +$7,995.00 - sales tax (9.075%)
    +++$995.00 - delivery charge
    +$2,010.00
    - DMV, doc fees, tire fee, etc. (guess)
    -$3,000.00 - down payment (or trade-in)
    ----------

    $90,000.00 - TOTAL

    60 month payment period @ 3.75% = monthly payment of $1,647.35
    48 month payment period @ 3.03% = monthly payment of $1,993.28
    36 month payment period @ 1.99% = monthly payment of $2,577.44

    ----------

    I visited an ELR-certified dealership identified in the e-mail Cadillac sent me to get more information. Here's what I found out:

    1) The only packages available will be LUXURY for $1,695; ADAPTIVE CRUISE CONTROL for $1,995; UPGRADED WHEELS for $900; and a SEATING package for $1,300 that requires choosing Kona Brown but gives you a driver's seat with 20 separate adjustments. Therefore, a fully-loaded ELR should cost $81,885 + sales tax, etc.

    2) Lease residuals are anticipated to be around $52,500 and the money factor between 0.0013 and 0.00184 for a 3-year lease. But this has not been set, yet. The dealership expected leases to cost about $1,000 - $1,250/mo. for a three-year lease at 12,000 miles/yr.

    3) Purchases should expect to see an interest rate of approx. 2-3% for 48-60 months. A 72-month purchase loan should also be available from a third-party bank (i.e., not GM Financial).

    4) The reverse camera is supposed to be a significant improvement on the Volt's camera, but the dealership didn't have confirmation.

    5) The cars will start to arrive in late December or early January. Most dealerships get two at first, then between 18-34 after that depending on demand and each dealer's sales.

    6) Dealerships will have a higher tier of service for the ELR, including fleet loaners instead of sending customers to Enterprise when the car requires service. There's even going to be a dedicated number for Cadillac owners to call (which I think the dealer told me was 855-4CAD-ELR)


  2. Remove Advertisements
    CadillacForums.com
    Advertisements
     

  3. #2
    Join Date
    Sep 2007
    Location
    Wilmington, NC
    Posts
    13,969

    Re: Cost of purchasing ELR in Los Angeles

    would buying in Oregon and paying no sales tax make sense?
    or are you supposed to file your taxes saying you bought the car out of state and pay the tax voluntarily?

  4. #3
    DG2's Avatar
    DG2 is offline Cadillac Owners Connoisseur
    Join Date
    Jul 2004
    Posts
    1,703
    Blastohomy. Thanks for the breakdown. Well, it's official. Unless GM quickly does a relaunch of price the ELR wil have a very short life So, I guess we have to look at the ELR price as a steal as this will definitely be a collectors item real soon

    What were you guys thinking ?? (GM brass)

  5. #4
    Rarcaddy is offline Cadillac Owners Member
    Automobile(s): ATS
    Join Date
    Oct 2013
    Posts
    26

    Re: Cost of purchasing ELR in Los Angeles

    Quote Originally Posted by DG2 View Post
    Blastohomy. Thanks for the breakdown. Well, it's official. Unless GM quickly does a relaunch of price the ELR wil have a very short life So, I guess we have to look at the ELR price as a steal as this will definitely be a collectors item real soon

    What were you guys thinking ?? (GM brass)
    Agreed, what a total miscalculation by GM but thinking they will relaunch with a lower price is like the Congress doing its job. They could of done well with this car at $15K less. Oh well.

  6. #5
    ccclarke's Avatar
    ccclarke is online now Cadillac Owners Connoisseur
    Automobile(s): '02 ETC CE, '04 CTS-V, '04 XLR, '13 XTS Platinum
    Join Date
    Apr 2004
    Location
    Uncanny Valley, New England
    Posts
    1,726

    Re: Cost of purchasing ELR in Los Angeles

    Quote Originally Posted by RippyPartsDept View Post
    would buying in Oregon and paying no sales tax make sense?
    or are you supposed to file your taxes saying you bought the car out of state and pay the tax voluntarily?
    Great question. Here's how it works:

    I purchased my CTS-V in 2004 and XLR in 2008. Both were paid off before I moved to CA in 2010. When registering in CA I was required to show the purchase prices and had to make up the difference from the WA state sales tax I paid. It came out to around $4k. Totally nuts. If I were a CA resident and bought a car out of state, I could grasp the logic, but CA will do ANYTHING to squeeze its residents. I've since moved.

    CC

  7. #6
    Blastphemy is offline Cadillac Owners Enthusiast
    Automobile(s): 2018 CT6 plug-in
    Join Date
    May 2012
    Location
    Montana
    Posts
    569

    I've got real lease numbers!

    I went to a local Cadillac dealer and got firm lease numbers to share.

    This is for an ELR with the Luxury Package and Adaptive Cruise Control package ($79,685).

    NOTE: The drive-off cash would be $1,000 more for customers who do not qualify for the GM loyalty discount.

    This is for a 39-month lease, only 10k miles per year, and a 51% residual ($40,639.35):

    $79,685.00 price
    $ 2,412.49 drive-off cash (i.e., out-of-pocket at delivery)
    $ 3,000.00 GM Card redemption (or additional drive-off cash, if no GM Card)
    $ 5,575.00
    Ally Bank incentive ($1,925 less than the $7,500 tax credit)
    $ ++628.00 government fees
    $ 3,759.33 total taxes (CA - 9.00%)
    ----------
    $
    ++925.54 monthly payment

    The gross cap cost for this deal is $80,480; the net cap cost is $71,905. The base payment (before tax) is $849.12, and then $76.42 in CA (Los Angeles) sales tax is added.

    The drive-off cash includes the first month's lease payment ($925.54), upfront sales tax ($778.95), first year fees ($636.75), and "other" ($80).

    Total out-of-pocket cost for this lease will be $36,096.06 for monthly payments + $2,412.49 drive-off + $3,000 GM Card or additional drive-off, for a total of $41,508.55. So for about half the cost of the car, you get to drive it for 3 1/4 years.
    Last edited by Blastphemy; 01-18-14 at 08:38 PM. Reason: added more lease details


Bookmarks

Cadillac Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Read about Lincoln | Buick | Kia Forte Forum