: OK....dig this trade in/trade up....



Blue Puma
03-18-06, 04:32 PM
OK, I am a long time lurker who wrote here a couple of weeks ago that I was getting a new 06 CTS-V, and that I had the letter from GM for my GMS price. Well, it turned out there was a bit of delay on that, so I told my dealer (who also happens to be a friend) to hold off on getting the car for me. Then, once I had the letter, I wanted to wait for the NCAA promo. When that turned out to not be that helpful, I caller her yesterday to tell her to go ahead and get the red CTS-v I wanted.

She then told me that she had talked to her person at GM about 15 minutes previously, and they had 7 (seven!) STS-Vs that were used at the super bowl. Examples in all three exterior colors, but all interiors were grey. The highest mileage car on the list had 741 miles! The lease deal they were offering on these particular cars with my GM discount made the car roughly $600/month, with only first month and aquistion fee down (roughly $1100), and a 3 year lease!!!! Holy cow; how couldn't I take it?!?!?! And who cares what the residual is...I get to drive that monster for 3 years. I didn't even ask. So I ordered a black one and gave her my deposit over the phone. It should be here sometime next week (at the earliest). She told me that in the space of a couple of hours they had already sold 3 of em to employees of the dealership. She might take one for herself. Hard not to at that price.

I am a tad apprehensive, cause I was really looking forward to a sportier mid-size car like the CTS-v, but how could I turn this down? Any thoughts? I had an 04 CTS-v for a couple of days as a loaner and loved it, which is why I wanted an 06, but I haven't driven the STS-v, although I had an 02 STS for about year, so I am familiar wth the car in general.

I really just had to share that story. I'll let you guys know what I think when I get it.

dqw1
03-18-06, 04:39 PM
Lucky dog! You had to take that deal. Have fun. (As I was looking down at the keyboard typing this, I missed the CTS-V/CTS "CEO" commercial Iv'e been trying catch for the longest time). Damn! Missed it again.

6104696
03-18-06, 04:53 PM
the STS-V will be a very different car than the CTS-V. I hope that after the sweet taste of saving a few $$ wears off you are not left with the sour taste of owning the "wrong" car for you.

But that is only for you to know. Not meaning to be a d-bag or a buzzkill. Just posting my initial impressions. The STS-V is likely a great car and I hope you enjoy it. It just seems like an unusual "alternative" to a car like a CTS-V.

hw

99GTX
03-18-06, 05:56 PM
(As I was looking down at the keyboard typing this, I missed the CTS-V/CTS "CEO" commercial Iv'e been trying catch for the longest time). Damn! Missed it again.

dqw... that commercial can be seen on the FAQ here: http://www.cadillacfaq.com/faq/video/commerc/cts-ctsv-06commercial.html

Congrats on the "other" V, Puma! :thumbsup:

heavymetals
03-18-06, 05:58 PM
Sounds like a very good deal, but I prefer to buy and not lease.

Very hard to mod a leased car.

I bet your gonna have some fun though! :thumbsup:

dqw1
03-18-06, 06:32 PM
99-Thanks, now I seen it.

pimpcaddy
03-18-06, 06:51 PM
I think "OLD" men drive the STS-v. Congrats.

Dave

urbanski
03-18-06, 07:03 PM
Sounds like a very good deal, but I prefer to buy and not lease.

Very hard to mod a leased car.

I bet your gonna have some fun though! :thumbsup:
probably not much to mod, if anything at least for some years.
the N* is unhackable

heavymetals
03-18-06, 07:53 PM
probably not much to mod, if anything at least for some years.
the N* is unhackable

Oh I bet you could add at least 30 lbs of soundproofing :rolleyes:

alcast082
03-18-06, 07:54 PM
For that price i would not have thought about it either, Great buy.
a lease for an sts-v for 600 a month. For that price you can get a m3 or s4 come on I WOULD jump on a sts-v.
I just turned 23 and drive a cts-v but I would have taken the sts-v for that price any day.


:dance: I still want a ZO6 in a couple of years.:bighead:

ENJoy the beast.

Blue Puma
03-18-06, 09:15 PM
"but I prefer to buy and not lease"

You know, I was discussing this same topic with another friend of mine who owns a Honda dealership. He said "Why have your money in a depreciating asset?" Given that I don't keep cars, he's right. In effect, it would be borrowing money to own an asset that is constantly reducing in value. Id be taking the hit on the interest and on the depreciation. The GM smartlease lets me only pay off the part of the value of the car that I consume during the time on my lease, in effect reducing the percent of the car I am responsible for. Plus, they often deal on the residual should I decide to buy at the end of the lease. Finally, on the last 3 cars I leased, GM called me 6 months before my lease was up to turn it in, making it a 1.5 year lease instead of 2, or 2.5 on 3, with no downside

All that being said, if I loved a car enough to mod it like you, I would own it too. I guess there really isn't anything to do to the STS-V anyway....maybe a pulley? I wouldn't want to hurt the motor.

heavymetals
03-18-06, 10:01 PM
Screwing around with the motor is the best part!:thumbsup:

Valve job?

Who said valve job?:want:

brtnharv
03-18-06, 10:23 PM
Wow you are lucky.. here is the bottom line, you are driving around a 78k car for 600 a month. I'd make a guess that car will be worth about 50% of its original value after 4 years, so around 39k. But in your case you are only paying 22,700 of depreciation over 3 years. Hell of a deal.

Adam
03-18-06, 11:27 PM
but I haven't driven the STS-v, although I had an 02 STS for about year, so I am familiar wth the car in general.

two completely different animals bro:

2002 STS (fwd):

http://www.pevomuc.de/100-Cadillac/PECAAR.10/2002-A/2002_Seville_STS_01.jpg

2006 STS-V (rwd):

http://forums.autoweek.com/servlet/JiveServlet/download/31-11753-221837-1842/STS-V.jpg

congrats anyway bud! good luck.

Dooman
03-19-06, 05:10 AM
"but I prefer to buy and not lease"

You know, I was discussing this same topic with another friend of mine who owns a Honda dealership. He said "Why have your money in a depreciating asset?" Given that I don't keep cars, he's right. In effect, it would be borrowing money to own an asset that is constantly reducing in value. Id be taking the hit on the interest and on the depreciation. The GM smartlease lets me only pay off the part of the value of the car that I consume during the time on my lease, in effect reducing the percent of the car I am responsible for. Plus, they often deal on the residual should I decide to buy at the end of the lease. Finally, on the last 3 cars I leased, GM called me 6 months before my lease was up to turn it in, making it a 1.5 year lease instead of 2, or 2.5 on 3, with no downside

All that being said, if I loved a car enough to mod it like you, I would own it too. I guess there really isn't anything to do to the STS-V anyway....maybe a pulley? I wouldn't want to hurt the motor.

Sounds like a great deal on an awesome car. Like you say, it's not a permanent, drive it, you'll love it. I heard rumors a while back that there may be room for improvement on the exhaust on the STS-V to get some power and sound...You know someone will step up and release a system very soon.
That should put you near 500hp with an adaptable transmission that will learn your driving style.. Look out!

moldowan
03-19-06, 05:21 AM
i test drove a sts-v a month ago. It was cool... smokes the living s**t out of the tires with NO hop!!!
not a nimble or "high strung" as a cts-v but still cool!
you should be happy with it.
-Moldy

pietroraimondi
03-19-06, 10:31 AM
That was an absolute "no-brainer". I'm surprised you even had to think about it? If they have any units left; please feel free to PM me with the phone number and contact name of the dealership.

Congrats....an excellent deal and no comparison whatsoever. You got much more of a bang for your dollar on the STSV.....469 HP that is supercharged and intercooled and no warranty issues.

Hell; the Maggie alone would have cost you $7 grand and then the worry of the rear differential exploding....no thanks!

Great choice; now send that girl a dozen roses for such a sweet deal!

Blue Puma
03-19-06, 12:20 PM
Yeah....The second she said the words, I said "I'll get my credit card." I do like the interior room of the STS-v more than the CTS-v; Both I and my gfriend are lawyers, and have to pilot the occasional client or two, so this will be nice.

As far as getting more of them, I kink of hinted that I'd take more than one, but she is doleing them out carefully. Also, part of the deal was the use of my GMS letter, which had something to do with the overall awsomeness of the deal.

We were thinking about sending her something from Harry & David (http://www.harryanddavid.com/)...

L.Sanchez
03-19-06, 06:24 PM
I'm in car sales so I'll make this brief.

1) Leasing is the only way to buy ANY car as long as there is some type of factory supported lease like GM's Smartlease or Fords Red Carpet Lease. Just doesn't make sense the way cars depreciate these days and the increase in interest rates (prime rate) to finance a car. Too much risk!

2) If that deal is accurate and its indeed a new car, you got a sweet deal. Either way, for that payment, you WILL enjoy the car especially considering normally I'd imagine the payment would be anywhere from $875-$1000 depending on the deal and dealer. I'd certainly take that too!

BadCad
03-20-06, 07:52 PM
The STS-V is definitely a different car - I drove one a few times and still prefer the CTS-V. Not to slam the STS-V, and with that deal, you probably did better financially-wise. But for overall handling and road feel, the CTS-V gives you more and even slightly outperformed the STS-V in direct comparison.
btw - leasing makes sense if you turn over your car every few years. If you keep it for any duration, leasing makes no sense and you eat depreciation in both a lease and purchase. Either way, a car is a depreciating asset for which you pay.

6104696
03-20-06, 08:09 PM
I'm in car sales so I'll make this brief.

1) Leasing is the only way to buy ANY car as long as there is some type of factory supported lease like GM's Smartlease or Fords Red Carpet Lease. Just doesn't make sense the way cars depreciate these days and the increase in interest rates (prime rate) to finance a car. Too much risk!



A lease is an arrangement where you take temporary posession of a car while you pay an agreed upon estimated depreciation amount. This is usually done for the years when a car depreciates the fastest. Then, at the end of the lease, you can either buy the car for the residual value (whatever that is), then own ot for the "cheapest" few years of it's existence, or give it back and lease another car and pay off the depreciation on a new car once again.

You also have mileage penalties and other BS to deal with.

Some people may want to do that and have a new car every 3 years, which is NOT cost effective if cost is your thing. Some people may want to keep a car for 5, 6, 7 years or more, in which case they almost always get much better value out of a car.

So leasing may be advisable if you know you want a new car every few years, but sorry, it is not the "only" way to buy a car, and quite to the contrary, you are not buying anything but a contract which lets you borrow a car which you promise to return, in the same condition that you picked it up, and with limited mileage. Then, you can give it back, or choose to buy it.

If you buy it up front, you can do what you want, when you want, with as many miles and mods as you want. And "buying", that is paying cash (borrowed or otherwise) and getting ownership of goods in exchange, as far as I know, is the only way to buy anything.

(but yes, this certainly sounds like a cheap way into the STS-V any way that you slice it)

ChicagoCTS32
03-20-06, 08:42 PM
Leasing makes sense if you get to write off the cost of your car... traveling salesman or something similar to that... Just a thought. Wish it was me with the STS-V...

BadCad
03-20-06, 09:49 PM
leasing or owning - you get to write it off if used for business no matter what. it's just easier accounting-wise to write off a lease as a business deduction.

ChicagoCTS32
03-20-06, 09:59 PM
In a lease you can write off the whole shebang... in a buy you have to use depreciation.

c4racer
03-20-06, 11:50 PM
In a lease you can write off the whole shebang... in a buy you have to use depreciation.

Not true, unless the vehicle in question is greater than 6K GVWR. Otherwise, you must add income to compensate for the value of the car over the IRS limit of ~$22K. This is called the inclusion amount and is mentioned here:
http://www.irs.gov/publications/p463/ch04.html#d0e5522

For a car worth $70K, that inclusion amount is generally so high that it would make the standard mileage deduction a better deal.

I am in outside sales and have been deducting business use of a car for more than 15 years.

Anyway, the $600 lease deal is outstanding - I would have jumped on that one too, although I much prefer a black interior and also prefer a stick shift and more nimble car, but could have taken care of that need with a different car in the stable. For comparison, I leased a 05 CTS-V for 3 years, 36K miles with about the same down and the payment is $630, which in itself is very good and was based on a 4% equiv loan or money rate, 56% residual and a cap cost of around $46K on a $53K sticker price.

My take on the lease vs. buy equation also depends on the lease deals. If the residual is high enough and the money factor low enough, leasing can make sense even if you fully intend to keep the car afterwards. Especially if the leasing company might be willing to reduce the residual for a purchase at the end if the value isn't really as high as they predict. But in the meantime you can keep your cash in the market instead of invested in a depreciating asset - let the bank take the risk, if the depreciation is less than the residual you can buy the car out at the end and you made money on the deal. If lower, you can either renegotiate the buy-out or walk from the car - your choice. You can also decide if you really want to own the car more than the lease term and if you decide to walk, you only paid state sales taxes on the portion of the car you used instead of 100% up-front like on a purchase.

On expensive cars where the factory helps subsidize the deal, it is just the only way to go - IMHO. The lease deals you can get on the mainstream german cars like the E350, 3 or 5 series BMW or etc. is just too good to pass up - the money rates are in the 1-3% range on these which is essentially free money. Normally they do not extend these incentivized deals on the higher end cars like AMG, M, etc. However, MBZ is now running a killer deal on the E55 sedan - $999 / month with $4K down on a 39 month. I have not done the math, but on a $90K car this has to be a sub 3% money rate and a very reasonable (probably artificially high) residual. Far better deal then plunking down $100K in cash for one even if you had it, IMHO. No such deals on the M5 tho....