: Lease questions.



Da Dark Jedi
04-22-07, 04:47 AM
With all the talk about leases, I have a couple of question.
1) What is a GM supported lease? How does it work?

2) I've read Suzy Orman's books and she suggest buying instead of lease, is this correct?

3) Why do some of you perfer a lease car instead of buying?

4) Why not wait 2-3 years for the depreciation and save the money?

Yes I'm leaning toward the STS-V models. I just have to get "Bang for the Dollar".

Thanks

Falkolade
04-22-07, 10:43 AM
If you want bang for the buck, you must buy the vehicle and the STS-v is a limited produced model, and also a very very slow seller so there are fabulous deals to be found on new ones. You should be able to find a new one under 60k easily. Also the STS-V would not be a good car to lease because the residual value will not be high do to how low the prices currently are.

leasing is nice if you want a new car every couple of years, I bought my Escalade and Cts-V, but then whne it came time for my finance to need a new vehicle we leased a Hummer H3. I would lease my daily driver from now on I like the concept of leasing. Always having to make payments is a poor argument. Because if i ever have a problem its taken care of under warranty.

urbanski
04-22-07, 11:12 AM
you immediately need to discount anything suze says....she lies, misrepresents her credentials, she "invests" in munis and t-bonds while telling listeners to invest in the market advocating a ""sell after small declines" strategy that is coupled with a "buy things that have been on the rise" concept, leaving investors in a position to sell low and buy high."....she even shuns 401K plans, even matching ones.
http://www.marketwatch.com/news/story/outing-suze-ormans-investment-portfolio/story.aspx?guid=%7B6F038CB3-5152-4C73-831E-AB9D431F54C3%7D

she had no credibility. nor (IMHO) does somebody advocating her beliefs. however if you want to eek out 1% annual gains, feel free to follow her path.

buy a car with cash. dont have enough? dont buy it

urbanski
04-22-07, 11:31 AM
and you answered your own question about leasing! :)

"fleecing" is financing depreciation with fees/interest totalling over 10%. theres plenty of examples of 2 year old Vs out there that somebody else took the hit on. you can contact any number of our forum dealers for prices, and buy with cash.

1fstkde
04-22-07, 12:46 PM
its all about incentives!! i leased my 05 ctsv for 1800 down, and 620 a month for 24 months..comes out of pocket a total of 16680..sticker was on that car 54k, and now you can say that you can pick up an used 05 for 35k max..i think i came out ahead and didnt have to hassle on selling it. so thats why now im waiting to get some incentives on a stsv..its all about the timing..

GM-4-LIFE
04-22-07, 01:37 PM
You can lease new STS-V like I did and get very affordable payments without putting a ton of money down. I like GMAC smartleases because it makes getting a higher dollar car affordable.

Buying an expensive car new or used is just throwing money away and then when you get tired of it, you have to resort to try to sell it private party or take a bath on trading it in.

I do a 24 month GMAC smartlease on every new GM vehicle I get because it's easy, affordable and I will always have a new car with a warranty which is the best part. The payments don't bother me and my Escalade and STS-V lease payments are very affordable compared to buying the vehicles. The great thing about GMAC smartleases is that the expensive vehicles have cheaper monthly payments the lower term you go because technically, they only charge you for the amount of the car you are using.

Example of leases I have done with GMAC within the last year:

2006 CTS-V $558.80 per month including tax with $5K drive-off.
2007 Escalade $854.95 per month including tax with $5K drive-off. I know for sure that the Escalade lease payments are lower now than when I got mine.
2007 STS-V $848.93 per month including tax with $1K drive-off. Again, the payments on an STS-V are cheaper now per month than when I got mine.

If I were you check the rates on leasing vs. buying and you will see that will all factors applied, leasing comes to be more affordable. If you are the type of person that keeps a car for 10 years or more, you would have to buy it but hope that the maintenance and repairs won't cost you in the long run. I hate having old cars because I have been through that ringer and it is a big headache.

SG

Da Dark Jedi
04-22-07, 05:44 PM
What is a GM supported lease? How does it work?

Aero1, I don't understand "5K drive-off", please explain.

I reading a book called "Look before you Lease" by Michael Scott Kranitz, are there any good reading material you guys can suggest?

I've been getting "hosed" when trying to sell my cars in the past and trade-in isn't bad but than I see the car on the lot with a tremendous mark up value. Also, you're right about the repair cost, I lost a tranny because the guy did'nt replace a $2.00 part and since I live in a union city repair cost is high.

This lease concept is new to me but old to alot of you and I can't to tell you, THANKS.

Please keep the advice coming.

urbanski
04-22-07, 05:51 PM
I reading a book called "Look before you Lease" by Michael Scott Kranitz, are there any good reading material you guys can suggest?.

http://www.amazon.com/Total-Money-Makeover-Financial-Fitness/dp/0785289089/ref=pd_bbs_sr_1/102-3649061-0713742?ie=UTF8&s=books&qid=1177277652&sr=8-1

GM-4-LIFE
04-22-07, 06:34 PM
What is a GM supported lease? How does it work?

Aero1, I don't understand "5K drive-off", please explain.

I reading a book called "Look before you Lease" by Michael Scott Kranitz, are there any good reading material you guys can suggest?

I've been getting "hosed" when trying to sell my cars in the past and trade-in isn't bad but than I see the car on the lot with a tremendous mark up value. Also, you're right about the repair cost, I lost a tranny because the guy did'nt replace a $2.00 part and since I live in a union city repair cost is high.

This lease concept is new to me but old to alot of you and I can't to tell you, THANKS.

Please keep the advice coming.

GMAC Smartlease is a GM supported lease which carries terms like 24, 36 and 48 months with 10K, 12K or 15K miles per year. It is like any other lease through any other automaker, but GM offers rebates and incentives on selected GM vehicles if you lease through GMAC. My GMAC Smartlease is offered by GM through GM dealers. $5K drive-off is how much you have to give the dealer to start your lease off and it goes to cover your first month's payment and mainly the cap cost reduction which means that it goes to bring the vehicle's price down so it causes your monthly payment to come down. The less you put down at signing, the more your monthly and the more you put down the less your monthly payments are.

I have done so many leases through GMAC that it is second nature for me.

PM me or email me at: AERO1@SOCAL.RR.COM if you have any questions.

Thanks!

SG

me_dimitri
04-26-07, 12:48 PM
I leased my STS-V in February...
It was the first car I ever leased. I traded in my 2001 C5 Vette convertible and put a small chunk of dough down on the GM Smartlease and took the rest back in cash.

It worked out very well. There is actually a high residual on the car if you take a term of 39 months or less, (the logic being that there is still a chunk of warranty and included maintenance left to the new owner). Also obviously GM is postulating a good resale market...

I also got about $3,000 in price reduction incentives applied.

Ended up with a payment of around $680 all in, including 30K kilometers per year, (I'm in Canada).

With the ability to flip easily around the 2 year mark, i'm pretty happy.

Hope this helps,

Dimitri
T.O.

P.S. You might do better with the '07s now with some of the sale prices I've been hearing about.

1fstkde
04-28-07, 07:23 PM
aero, i just came back from casa de cadillac and they said for me to be in the 800 range i have to put down at least 6k down!!!!!!:want: ..are they smoking?? i think i have to go to another dealer.. its a shame that a dealer doesnt take care of a returning customer!!

GM-4-LIFE
04-28-07, 09:02 PM
aero, i just came back from casa de cadillac and they said for me to be in the 800 range i have to put down at least 6k down!!!!!!:want: ..are they smoking?? i think i have to go to another dealer.. its a shame that a dealer doesnt take care of a returning customer!!

I used to go to Casa De Cadillac first until I discovered Martin Cadillac's great customer service when it came to sales. Call Martin Cadillac at 310-254-3200 and ask for Sherry Riker and George Trivanti. They always have 3-4 STS-Vs in stock. I got mine from them and my payment is very good. With $5K down at Martin, you can get a payment in the low to mid $700 range including tax which is a great deal.

Tell them Shawn sent you. I refer everyone to them no matter what Cadillac they want.

SG

1fstkde
05-01-07, 08:21 PM
I used to go to Casa De Cadillac first until I discovered Martin Cadillac's great customer service when it came to sales. Call Martin Cadillac at 310-254-3200 and ask for Sherry Riker and George Trivanti. They always have 3-4 STS-Vs in stock. I got mine from them and my payment is very good. With $5K down at Martin, you can get a payment in the low to mid $700 range including tax which is a great deal.

Tell them Shawn sent you. I refer everyone to them no matter what Cadillac they want.

SG
all done shawn!! picked up my new black stsv today, and i all it all to you!
:D ..sherri took care of me..2k down and 830 a month..coulnt get more than 10k a year, buts its ok>> took it straight to d3 and got the air intake and computer upgrade, halls azz!! when we have the socal get together ill buy you a beer!! keep in touch, kerim

Canesfins
05-01-07, 09:07 PM
Do your lease opinions change ate 0% financing?