Leased an 05 CTS in Aug og 2004.

shortly thereafter I got a job that required me to drive long distances.
I now have almost 50K miles on it and have only a warranty up until 50K
miles.

2005 CTS 3.6L luxury pack. rims tires, etc...

Where do I go from here? I have over 2 years left on my 48 month lease
and my warranty is expiring. Should I try to trade in now? If I turn it in
after the lease they're going to kill me on the miles over.

For those who know the system... what should I do? :confused:

Leased an 05 CTS in Aug og 2004.

shortly thereafter I got a job that required me to drive long distances.
I now have almost 50K miles on it and have only a warranty up until 50K
miles.

2005 CTS 3.6L luxury pack. rims tires, etc...

Where do I go from here? I have over 2 years left on my 48 month lease
and my warranty is expiring. Should I try to trade in now? If I turn it in
after the lease they're going to kill me on the miles over.

For those who know the system... what should I do? :confused:

You always have the option to keep driving it for the remainder of your lease then try to sell it privately before the expiration or just refinance and buy it yourself.

Yes, you will get killed on excess mileage.

exactly why I dont lease cars.....so much less to worry about:tisk:

New member here today. 1st post! Sorry for your problem. Ran into it with my 98 Yukon. Had 90,000 mi when the lease expired. Lease was to 60K, so I bought. Still have it. 175K mi, been in the shop once for steering position sensor. Do my own fiddling.

If you like the car, buy it. Then sell it and don't lease again.

Good luck.

New member here today. 1st post! Sorry for your problem. Ran into it with my 98 Yukon. Had 90,000 mi when the lease expired. Lease was to 60K, so I bought. Still have it. 175K mi, been in the shop once for steering position sensor. Do my own fiddling.

If you like the car, buy it. Then sell it and don't lease again.

Good luck.

:welcome: to the Forum :D :bouncy: :yup:

65 Catalina. I had a '64 389 with tri-power. Nice car!

I did a couple of leases but have decided against them. You don't feel like its your car. Making mods seems crazy. Yep, that a bad position to be in. You could buy out your lease but that's not cheap either. I did that once.

Here are a few threads with options and ideas on the issue:

http://www.cadillacforums.com/forums/cadillac-cts-forum/58332-getting-out-lease-opinions-appreciated.html?highlight=lease+transfer

http://www.cadillacforums.com/forums/cadillac-cts-forum/54746-im-thinking-about-getting-out-my.html?highlight=lease+transfer

http://www.cadillacforums.com/forums/cadillac-cts-forum/42284-early-lease-termination.html?highlight=lease+transfer

You could buy and extended warranty from GM, and then refinance the payoff balance when the lease comes due if you want to keep the car or payoff the lease now and turn it into a purchase. The links have a lot of options and ideas. Good luck!

RobertCTS

Tkx for the welcome. Love your Vader. Had a BMW 325 for 20 years. Black on black. New CTS (2 days) is my first red car. I'm wild about it. Friend of mine I raced with is a Cadi dealer, the price was more than right. Bought the works! Will be hard to get it from my wife.

This is a great site!

Leave it in a bad hood with the keys in the ignition. Make sure you have gap insurance first.

Welcome to the forum GMlifer, I to have had nothing but!! 74 Chevy Malibu Classic, 80 Chevy Camaro, 85 Buick Somerset (w/5 speed stick no less), 88 Chevy Baretta GT, 94 Pontiac Grand Prix SE. Even with all their troubles, I allways seem to stay! Good Luck with the lease situation.

If you don't want to buy the car you should approach a dealer to see what they can do for you. Either way you are screwed but you are probably safer to take the hit now because you won't have to worry about possibly repairing a lease car only to give it back to GM to sell at auction.
GM does have a policy that it may assist with the cost of repairs for 2yrs/24K mi after the warranty period but times are tough and I wouldn't expect much unless you are real tight with the dealer.

I had a buddy trade in his 04 Grand Prix with 60K last week for a 2006 F-150 and he took a big hit but it was much cheaper to roll money into his new payment that to continue paying his lease payment plus know you will be paying like $.20/mi over.
Good luck.

Goo

I have this same problem, i have an 05 had it alil over a year and im all ready ar 34 k on the ****er, what i do is i have fund set aside for overage, prob save about few grand year, i plan on using this for my over miles then roll the rest over into my next car, or use the money as a nice down payment on the rest of the cts, should be able to have payments around 200 bucks i think. Or by that time all my students loans should be payed off and ill just keep the ****er as a toy, would look nice next my 2008 camaro i want...... ahhha boy and his toys.....

I have this same problem, i have an 05 had it alil over a year and im all ready ar 34 k on the ****er, what i do is i have fund set aside for overage, prob save about few grand year, i plan on using this for my over miles then roll the rest over into my next car, or use the money as a nice down payment on the rest of the cts, should be able to have payments around 200 bucks i think. Or by that time all my students loans should be payed off and ill just keep the ****er as a toy, would look nice next my 2008 camaro i want...... ahhha boy and his toys.....

Best thing would probably be to just buy it at the end of lease. Good luck.