: Need some feedback please...



CaddyCTS91
04-05-13, 04:46 PM
Hi every one,


I am currently leasing a 2011 Cadillac CTS performance, my lease does not end until August 2014. I am looking to end my lease on the CTS early and get into a brand new 2013 CTS-V . I have talked to the dealer and they have agreed to end my lease and get me into a V.

There is one CTS-V, they currently have in stock. A loaded Black Raven for around $73,000.

When I asked for the estimate of payment for leasing a V, he said about 900-1000 dollars a month depending on how much money I put down and other factors. Does that seem kind of high for a CTS-V? I took some pictures of the one they have at the dealer that I am thinking of purchasing.. Salesman told me to bring in my CTS tomorrow, so he can start this process and to take The V they have on their lot for a test drive.

http://i82.photobucket.com/albums/j258/detroit6691/IMG-20130405-01749_zps356366e7.jpg

http://i82.photobucket.com/albums/j258/detroit6691/IMG-20130405-01750_zps15bc6ef8.jpg

http://i82.photobucket.com/albums/j258/detroit6691/IMG-20130405-01751_zps7b522997.jpg

Let me know what you guys think, thank you.

Trapspeed
04-05-13, 04:50 PM
Waaaaay too much. You ought to hear some of the deals some people have gotten. Do not pay that.

CaddyCTS91
04-05-13, 05:02 PM
Waaaaay too much. You ought to hear some of the deals some people have gotten. Do not pay that.

That is what I was thinking. What do you think would be a reasonable price for either leasing or financing?

Trapspeed
04-05-13, 07:03 PM
Not sure I'm the best one to comment since I'm a second owner but there are guys here who can help. Give it an hour or so. Try looking at old threads, too. There was a lot of talk about this before.

SoCalCTSV
04-05-13, 07:09 PM
Financing is easy to calculate. Final price plus tax Lic and reg fees less downpayment. Amortize over years you want and rate you are likely to get and shazam, there your monthly. I paid $66k before tax lic and reg for my 12 coupe full options at 2.99%. I think I borrowed $50,000.

Lease has its own calculations but you need that price, rate and residual. You should also consider that if they are ending your lease early, they may not have as much to negotiate.

Mongopush
04-05-13, 09:46 PM
Why take a new car hit,Imo? Find a nice used certified car with low miles unless you can't find your right setup . These cars depreciate around 10-12k a year , so a few years old with low miles saves you a ton and still will have a warranty. The 2013's offer nothing new to the buyer than the 2009+ buyers, same HP,torque and looks/feel with exception of the Vagon.

vfaninva
04-05-13, 10:13 PM
Why take a new car hit,Imo? Find a nice used certified car with low miles unless you can't find your right setup . These cars depreciate around 10-12k a year , so a few years old with low miles saves you a ton and still will have a warranty. The 2013's offer nothing new to the buyer than the 2009+ buyers, same HP,torque and looks/feel with exception of the Vagon.

There have been several improvements since 2009 including blind zone warning, improved shifting, two piece front rotors, back up cameras and some others.

Kluch
04-05-13, 10:54 PM
Ending a lease early can be costly- do your homework! First, you need to contact Ally or whomever your current lease is with and find out the buyout price. Then you need to figure out what your car is worth. Finally, you need to find out what the dealer will give you for it on a trade in. You will pay the difference if you go through with it- the dealer will roll it into the new lease. The only part that is negociable is how much the dealer will give you on the trade. That is why you need to know what the car is worth.

I did this twice before and in both cases the car was worth basically what the payoff price was and to get my business the dealer just paid off the lease completely. Note: the dealer is not "allowing" you to end your lease early!

You are getting HOSED if you pay 900-1000 per month on this new lease. And I hope you are smart enough to realize that you NEVER negociate a lease based on monthly payment. You negociate based on sale price of the car. You also need to know going in what the lease company money factor or APR is and the residual value (or percent) at lease end. Some dealers will tell you they are giving you a deal and sell you the car at "invoice" and then make their money back by charging you an extra point in interest which they pocket on the "back end of the deal." And this is not uncommon nor illegal!

I can tell you that right now through Ally they are offering $2690 in customer incentive for 36-39 month leases. For a 12K per year lease and 39 months, the APR is 2.3% and residual is 53%. The residual is always calculated on MSRP, NOT sale price. You should be able to negociate a sale price near invoice for a 2013 V.

Use any lease calculator you can google to figure out where your monthly payments should land. Only armed with this information can u effectively negociate. You will discover that with NO MONEY DOWN except first month payment and standard lease inception fees that the monthly payment will be FAR LESS than what you were quoted. Again, this assumes you are not getting killed on the trade.

Also, NEVER put money down on a lease. If the car is stolen or totalled, that money is lost forever. Read the fine print on the back of your lease agreement.

Good luck!

RGaret
04-06-13, 12:18 PM
Ending a lease early can be costly- do your homework! First, you need to contact Ally or whomever your current lease is with and find out the buyout price. Then you need to figure out what your car is worth. Finally, you need to find out what the dealer will give you for it on a trade in. You will pay the difference if you go through with it- the dealer will roll it into the new lease. The only part that is negociable is how much the dealer will give you on the trade. That is why you need to know what the car is worth.

I did this twice before and in both cases the car was worth basically what the payoff price was and to get my business the dealer just paid off the lease completely. Note: the dealer is not "allowing" you to end your lease early!

You are getting HOSED if you pay 900-1000 per month on this new lease. And I hope you are smart enough to realize that you NEVER negociate a lease based on monthly payment. You negociate based on sale price of the car. You also need to know going in what the lease company money factor or APR is and the residual value (or percent) at lease end. Some dealers will tell you they are giving you a deal and sell you the car at "invoice" and then make their money back by charging you an extra point in interest which they pocket on the "back end of the deal." And this is not uncommon nor illegal!

I can tell you that right now through Ally they are offering $2690 in customer incentive for 36-39 month leases. For a 12K per year lease and 39 months, the APR is 2.3% and residual is 53%. The residual is always calculated on MSRP, NOT sale price. You should be able to negociate a sale price near invoice for a 2013 V.

Use any lease calculator you can google to figure out where your monthly payments should land. Only armed with this information can u effectively negociate. You will discover that with NO MONEY DOWN except first month payment and standard lease inception fees that the monthly payment will be FAR LESS than what you were quoted. Again, this assumes you are not getting killed on the trade.

Also, NEVER put money down on a lease. If the car is stolen or totalled, that money is lost forever. Read the fine print on the back of your lease agreement.

Good luck!

A good lease on thus car should be in the low $800 range. That's with no money down and taxes rolled back into the payment. Use their money, not yours.

FLTRI
04-06-13, 04:20 PM
Yeah, way too much. I purchased mine at 0% and the payments are just under a grand a month. When the 60 payments are all made, I don't have to turn it in, nor buy it out...

Cnair
04-06-13, 08:35 PM
Ending a lease early can be costly- do your homework! First, you need to contact Ally or whomever your current lease is with and find out the buyout price. Then you need to figure out what your car is worth. Finally, you need to find out what the dealer will give you for it on a trade in. You will pay the difference if you go through with it- the dealer will roll it into the new lease. The only part that is negociable is how much the dealer will give you on the trade. That is why you need to know what the car is worth.

I did this twice before and in both cases the car was worth basically what the payoff price was and to get my business the dealer just paid off the lease completely. Note: the dealer is not "allowing" you to end your lease early!

You are getting HOSED if you pay 900-1000 per month on this new lease. And I hope you are smart enough to realize that you NEVER negociate a lease based on monthly payment. You negociate based on sale price of the car. You also need to know going in what the lease company money factor or APR is and the residual value (or percent) at lease end. Some dealers will tell you they are giving you a deal and sell you the car at "invoice" and then make their money back by charging you an extra point in interest which they pocket on the "back end of the deal." And this is not uncommon nor illegal!

I can tell you that right now through Ally they are offering $2690 in customer incentive for 36-39 month leases. For a 12K per year lease and 39 months, the APR is 2.3% and residual is 53%. The residual is always calculated on MSRP, NOT sale price. You should be able to negociate a sale price near invoice for a 2013 V.

Use any lease calculator you can google to figure out where your monthly payments should land. Only armed with this information can u effectively negociate. You will discover that with NO MONEY DOWN except first month payment and standard lease inception fees that the monthly payment will be FAR LESS than what you were quoted. Again, this assumes you are not getting killed on the trade.

Also, NEVER put money down on a lease. If the car is stolen or totalled, that money is lost forever. Read the fine print on the back of your lease agreement.

Good luck!

What he said. Check the money factor, residuals etc on leases for this month (search online, sites like ridewithg.com and edmunds town hall forums will have lease info). Check truecar.com for avg selling price in your area. You can even call Ally or US Bank but they may not give you lease rates. Armed with this information, you can negotiate a selling price and then work out a lease. I am paying $740 a month on a 39 month lease, 10k/month, no money down (aside from first month, taxes and some fees which could be negotiated). The higher the residual and lower the money factor, the better the lease. Good Luck!

IBMike
04-08-13, 01:48 AM
Another option would be to get someone to take over your lease: http://www.leasetrader.com/

As much as you want to get in to a V, this is a WANT not a NEED and there's no reason to take it in the backside to make it happen.