: Leasing a new 2013 CTS-V Coupe



sandman3211
07-26-13, 12:39 AM
How's it going everyone?

New to the forum. Looking for some opinions on a lease deal for a radiant silver metallic 2013 CTS-V coupe.

I will be leasing the car for 39 months, 12k miles/year:

MSRP $68,410.00
$6,000 out of pocket plus another 3670.00 in rebates and 1,480 for my trade in for a total of $11,150 at signing.
$517.92 per month plus tax for a total of 549 per month.
Purchase option at end of lease is $37,625.50.

So, what do you think? Good deal? Any room for improvement?

Can't wait to have this car in my drive! Never been in such a beast prior to my test drive of the V. My last car was a 2010 A5 2.0t. Decided to go for just a little more power this time :o.

pVu
07-26-13, 12:42 AM
Go for it.

IBMike
07-26-13, 01:51 AM
How often do you get new cars. For someone who does it often, 39 months is a long time to be locked in. Just look at LeaseTrader and see how many folks there are looking to get out of 39 month leases. Your situation would be worse with you putting $6k down, as you'd lose that money if you tried to get out of the lease. If you won't have a problem keeping it for 39 months, it isn't an issue, but everything I've read says you should never put money down for a lease.

Check with credit unions; mine offers a "payment saver" loan, which is basically a balloon payment loan. I just bought a used 2013 Coupe with 14k miles on it for $54,273. Using their payment saver loan, with no money down, at 2.24% my payments will be $579 a month for 60 months, with payment #60 being $25k. I only plan on keeping my V for 2 years, at which time I'll consider my options (ATS-V, CTS-Vsport coupe, or refi my V). Given how these cars hold value I'm not concerned about getting upside down, buying a used 13 for $20k under MSRP. Since it isn't a lease, I'm not locked in and if I decide to sell it I can. These loans on new cars are 1.99%. I'm using Navy Federal. Just an alternative to consider.

sandman3211
07-26-13, 03:10 AM
Thanks for the response.

Jeez, that's a bit concerning. Are there any common issues that you know of causing people to want to get out of their leases early (other than poor gas mileage and wanting something new, of course)?

P.S. I'm just coming out of a 42 mo. lease. Loved every minute of it in the A5. If its a great car, 39 mo. shouldn't be an issue.

RGaret
07-26-13, 05:38 AM
How's it going everyone?

New to the forum. Looking for some opinions on a lease deal for a radiant silver metallic 2013 CTS-V coupe.

I will be leasing the car for 39 months, 12k miles/year:

MSRP $68,410.00
$6,000 out of pocket plus another 3670.00 in rebates and 1,480 for my trade in for a total of $11,150 at signing.
$517.92 per month plus tax for a total of 549 per month.
Purchase option at end of lease is $37,625.50.

So, what do you think? Good deal? Any room for improvement?

Can't wait to have this car in my drive! Never been in such a beast prior to my test drive of the V. My last car was a 2010 A5 2.0t. Decided to go for just a little more power this time :o.

Don't put any money down on a lease. Bad idea. Roll that cost back into the payment.

IBMike
07-26-13, 07:14 AM
Thanks for the response.

Jeez, that's a bit concerning. Are there any common issues that you know of causing people to want to get out of their leases early (other than poor gas mileage and wanting something new, of course)?

P.S. I'm just coming out of a 42 mo. lease. Loved every minute of it in the A5. If its a great car, 39 mo. shouldn't be an issue.

Might just be a stereotype, but it seems one of the major reasons people lease is becasue they like new vehicles (at a theoretically lower price)... so locking yourself in to a 39 month lease is a long time for those people (I've even seen 60 month leases... WTF is the point of THAT?!?). I'd say that is a major reason why people want to get out of them. Most also don't put money down (or negotiate the residual), so their payments are averaging $800-$1200. A long time to make that kind of financial commitment if your situation changes. Other than the few folks who don't do their research and end up bitching about gas mileage or insurance costs I'd say these are the two major reasons people end up trying to bail.

Don't get me wrong, there are not a ton of them out there

Only one Vagon on there now: http://www.leasetrader.com/2012_Cadillac_CTS_V_Wagon_6.2L_189800.xhtml

8 Coupes http://www.leasetrader.com/lease-in/Cadillac_CTS_V-Coupe-6.2L

and 4 Sedans: http://www.leasetrader.com/lease-in/Cadillac_CTS_V-Sedan

jeremy stanke
07-26-13, 09:05 AM
I agree with the poster above that said do not put a lot down in cash.

Just as a reference I was quoted $1040 total cash out of pocket for a fully loaded coupe 36months/30,000miles $675 a month.

I am definitely one of those people that get bored of cars fast so the 3 year thing made me hold off and really think about it.

IBMike
07-26-13, 09:10 AM
I agree with the poster above that said do not put a lot down in cash.

Just as a reference I was quoted $1040 total cash out of pocket for a fully loaded coupe 36months/30,000miles $675 a month.

I am definitely one of those people that get bored of cars fast so the 3 year thing made me hold off and really think about it.

You could always hit up lease trader and take over someone elses lease for a shorter period... especially when you find one that someone else put down cash on and has a low payment.

Cadillac Cust Svc
07-26-13, 09:31 AM
How's it going everyone?

New to the forum. Looking for some opinions on a lease deal for a radiant silver metallic 2013 CTS-V coupe.

I will be leasing the car for 39 months, 12k miles/year:

MSRP $68,410.00
$6,000 out of pocket plus another 3670.00 in rebates and 1,480 for my trade in for a total of $11,150 at signing.
$517.92 per month plus tax for a total of 549 per month.
Purchase option at end of lease is $37,625.50.

So, what do you think? Good deal? Any room for improvement?

Can't wait to have this car in my drive! Never been in such a beast prior to my test drive of the V. My last car was a 2010 A5 2.0t. Decided to go for just a little more power this time :o.

Hello sandman3211,

Welcome to the forum! We are excited for you to get your 13' CTS-V Coupe in your hands too! I see you have mixed reviews about your lease, but I say go for it! The V will give you more power which is what it sounds like you want, and I have only heard of great things about the CTS-V. If you ever have any concerns or questions you would like to further discuss, don't hesitate to reach out to us! We can also be contacted via private message.

Laura M.
Cadillac Customer Care

Random84
07-26-13, 09:41 AM
+1 on don't put the money down if you can avoid it. You're better off with keeping the cash in the bank and taking the difference out of that every month for your higher payment. If you wreck the car or get hit at a stoplight, that downpayment is bye-bye. Always keep as much cash in the bank as possible (if only for emergencies), even if you pay for the car each month from out of that pile of money. Which is easier - saving up $20K or leasing a new car? :D

You might want to look at financing a used car: there are a LOT of options, lease-buyouts and low mile late-model used V's out there that you could probably finance for almost the same money, but actually OWN the car in 48 or 60 months (versus paying on the car for 3+ years nd having nothing to show for it when the lease is up).

The lease game is really not a good financial choice for the vast majority of consumers, but it's "easy" to do and of course you can get into a relatively more expensive car for a lower payment so it's popular. IMHO, getting a new car lease on an out-going model with so many attractive used-market vehicles is just a bad play.

Seriously, play with the math on financing ~$40K over 4 or 5 years on a gently used CTSV - with your money down you're looking at a pretty decent CTSV and maybe $700 a month, but at the end of the loan term you'd own the car outright with $30K in actual value versus trading it in as essentially a total loss. Even if you traded the car in similar to a lease, the residual value would be significantly greater. How much is "new" worth to you?

Disclosure: I paid for the "new car" premium. :D

sandman3211
07-26-13, 10:44 AM
Thank you all for the responses and advice. Financially, I agree that leasing with this amount down is not the best move on a car like this; however, I really have no other choice. I am 22 and have a monthly budget for a car set by my mother lol. I am currently $50 over this monthly budget (which I am trying to improve upon). I have always come up with whatever down payment was necessary to get the monthly payment within that range, and 6k to get into a V isn't bad in my opinion.


IMHO, getting a new car lease on an out-going model with so many attractive used-market vehicles is just a bad play.

This seems sort of counterintuitive to me. Since the car will be out of production with a new, redesigned ~2015 model on the streets, wouldn't that hurt the resale value when I turned around and tried to sell it 2-3 years down the road?

Random84
07-26-13, 12:55 PM
Thank you all for the responses and advice. Financially, I agree that leasing with this amount down is not the best move on a car like this; however, I really have no other choice. I am 22 and have a monthly budget for a car set by my mother lol. I am currently $50 over this monthly budget (which I am trying to improve upon). I have always come up with whatever down payment was necessary to get the monthly payment within that range, and 6k to get into a V isn't bad in my opinion.

I'm sorry, but if your at that point in life where your mother is managing your finances for you... you're probably trying to hard for this car. Obviously, you're exempt if you're a Trust Fund Baby and she's a CPA or something; but it "sounds" like maybe you're getting in over your head trying to make this work.

At the least, take a step back... re-evaluate your finances and think about how many tens of thousands of dollars you will be spending to effectively "rent" this car for 3 years. That's a lot of pizza, beer and iPhones.



This seems sort of counterintuitive to me. Since the car will be out of production with a new, redesigned ~2015 model on the streets, wouldn't that hurt the resale value when I turned around and tried to sell it 2-3 years down the road?

You're forgetting that on a leased vehicle, after you put $11K down in cash/taxes/fees and pay $550 a month for 39 months (another $21,500)... three years from now you're going to walk out of the dealer after spending almost $33,000 with A: no car or B: a note for another $37,000 to buy the used up car you just turned in.

And you're worried about resale value effect from a 2015 model release? :D

Simply put, leasing a vehicle is the least cost-effective way of every "buying" a vehicle. After three years and $33K, all you're doing is renting the car and reserving the option to buy it again (which few people seem to do).

Good luck.

GM-4-LIFE
07-26-13, 02:14 PM
Do it!!

Great monthly payment!!

sandman3211
07-26-13, 02:37 PM
Random 84,

Thank you for the time you took to type that response. You have all been really helpful (or not so helpful lol) in making me rethink about my decision of leasing this car. The only problem I have is, and this will sound very 22-year-old-ish of me...I've already test driven the car and nothing else will compare.

At this point in my life, just graduated from college, moving on to medical school, I realize I have no business owning (leasing*) such an expensive car. I have saved up enough money to pay for my entire medical school education, which is huge, and I have a little extra to pay down the monthly payment. At this point I am justifying, but as us youngins say, YOLO. lol

vfaninva
07-26-13, 04:14 PM
You've already made up your mind - enjoy your new V!

Random84
07-26-13, 06:53 PM
At this point I am justifying, but as us youngins say, YOLO. lol

there's absolutely nothing wrong with that, as long as you make the choice with full understanding (which you seem to have).

Now all that's left is for you to post pics! Be sure to "accidentally" your hot girlfriend in one or two of the photos. :D

sandman3211
07-26-13, 07:33 PM
there's absolutely nothing wrong with that, as long as you make the choice with full understanding (which you seem to have).

Now all that's left is for you to post pics! Be sure to "accidentally" your hot girlfriend in one or two of the photos. :D

Girlfriend, HAH. Made that mistake the first 3 years of college. It's safe to say that between my future doctor prefix and CTS-V, I will be single for the next 39 months.

sandman3211
07-27-13, 10:12 PM
Ended up getting an even better deal than quoted above. Still in shock. Without further ado, I introduce my beautiful wife...for the next 36 months.
130161130169130177

NEPA_Z
07-28-13, 12:38 AM
CONGRATULATIONS! Keep a close eye on it - 'looks like a tough neighborhood... :D