Time to trade in for a 2014
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Cadillac SRX Second Generation Forum - 2010+ Discussion, Time to trade in for a 2014 in Cadillac SRX Forums; OK so, the big decision is buy or lease. I have a 2011 Luxury with navigation. Paid, I think about ...
  1. #1
    jrannis is offline Cadillac Owners Member
    Automobile(s): CTS
    Join Date
    Jan 2010
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    Time to trade in for a 2014

    OK so, the big decision is buy or lease.
    I have a 2011 Luxury with navigation. Paid, I think about 43k for it.
    I put 8k out of pocket and have had it since Jan 2011. It has 33k miles on it, paying $568 per month.

    The offer I have from my dealer is this:
    2014 Luxury with chrome wheels and Navigation.
    Give them my 2011 (payoff about 21k)
    No out of pocket, $500 per month and 10k miles per year.

    Should I walk or run?
    or,
    Keep my 2011?

    Any and all opinions are appreciated.

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  3. #2
    stevec5375's Avatar
    stevec5375 is offline Cadillac Owners Connoisseur
    Automobile(s): 2010 SRX/3.0L Premium/FWD/Platinum Ice/Shale
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    Re: Time to trade in for a 2014

    Save your money and pay cash. It's the only sure way to win in the deal.

  4. #3
    halp is offline Cadillac Owners Member
    Automobile(s): 2011 SRX & 2004 CTS
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    Oct 2011
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    Re: Time to trade in for a 2014

    Check out what your 2011 is worth. Sounds like the are not giving you enough for it. should be at least $25,000. Also, 10,000 miles per year is a little low. If you go over they spank you on the miles. I agree that the best deal is to buy it and pay cash.

  5. #4
    packardv8 is offline Cadillac Owners Fanatic
    Automobile(s): 2011 Saab 9-4X Premium XWD
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    Re: Time to trade in for a 2014

    If one can front the cash, do it. It's the only sure way to know the bottom line. I've never personally been able to make a lease pencil out.

    Several years ago, a friend got talked into a lease by his broker, "Put the cash into the stock market and you'll be making 20% a year. The market crashed and he lost 50% on his portfolio, but was still stuck with a big monthly lease payment. When his broker stopped returning calls, he sold everything and bought bonds. Next time around, he took out enough to pay cash for a new car and the stock market is up 50%.

    jack vines

  6. #5
    2007-CTS's Avatar
    2007-CTS is offline Cadillac Owners Member
    Automobile(s): 07 CTS High Feature, 07 Escalade Lux. 10 SRX-Sold
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    Re: Time to trade in for a 2014

    I agree with halp, their really discounting your 2011, its worth more!

    IMHO you rarely win with the lease game, unless you just want to drive the car into the ground and not worry about it only putting back into the car what is needed to satisfy the lease return. Even then your limited to 10k per year!

    Then once the lease ends you have nothing, I did it once and learned never again!

    Besides, what does the 2014 do that really justifies the extra cost, short of a slightly enhanced interior and .6 extra liters I question if its really worth all that extra money?

  7. #6
    kars79 is offline Cadillac Owners Fanatic
    Automobile(s): 09 escalade
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    Sounds like a bad deal, I think you should keep your current car. Or try to sell your car elsewhere and go push them for better deal. Lease is so complex and confusing at times, I have never got comfortable with it Also there are limitations with when you can sell or not I don't like that

  8. #7
    westham is offline Cadillac Owners Fanatic
    Automobile(s): 2010 SRX Luxury
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    Jul 2013
    Location
    Los Angeles CA
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    Re: Time to trade in for a 2014

    Keep your 2011, maybe the 2015 will have a re design, if that is the case all Generation two's will take a big drop in value and your deal will seem even more upside down than it is now.

  9. #8
    retcad is offline Cadillac Owners Fanatic
    Automobile(s): 2010 SRX
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    Jun 2013
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    Re: Time to trade in for a 2014

    Not sure if you bought or leased your 2011. Assuming you bought it, unless you dislike the car or are having issues with it, by all means keep it!

    33K is barely broken in. The dealer will get about 25K for it on the lot, and you'll be driving a rental for the next three years with nothing to show for it afterward.

  10. #9
    Zachary is offline Cadillac Owners Member
    Automobile(s): 2010 Cadillac SRX Luxury Crystal Red
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    Jun 2013
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    Okemos , Mi.
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    Re: Time to trade in for a 2014

    I have a 2010 FWD. Luxury with Nav. and Crystal Red paint , and 34,000 miles on the dial , and the 5.1 Bose . I have looked at trading for a '14 but I hear that the redisign is coming in '15 , so I am going to wait and see if it will be worth trading in or not . Plus the best thing of all --- it's paid off !! . Which for me is all the more sweet . Never done the lease thing , although alot of my friends do . MYOP is hold on to what you have and buy not lease , and after 4-5 years it will be yours .

  11. #10
    stevec5375's Avatar
    stevec5375 is offline Cadillac Owners Connoisseur
    Automobile(s): 2010 SRX/3.0L Premium/FWD/Platinum Ice/Shale
    Join Date
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    Re: Time to trade in for a 2014

    Quote Originally Posted by Zachary View Post
    I have a 2010 FWD. Luxury with Nav. and Crystal Red paint , and 34,000 miles on the dial , and the 5.1 Bose . I have looked at trading for a '14 but I hear that the redisign is coming in '15 , so I am going to wait and see if it will be worth trading in or not . Plus the best thing of all --- it's paid off !! . Which for me is all the more sweet . Never done the lease thing , although alot of my friends do . MYOP is hold on to what you have and buy not lease , and after 4-5 years it will be yours .
    You haven't learned your lesson about buying the year of a redesign? I sure have with the 2010. I would think the 2010 bugs would have taught you a lesson.

    ----------

    As far as I'm concerned, leases are bad. They are for people who want in a car they really can't afford. Unless you use your car for your business and can justify a tax write-off, leases are not financially justified.

  12. #11
    retcad is offline Cadillac Owners Fanatic
    Automobile(s): 2010 SRX
    Join Date
    Jun 2013
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    109

    Re: Time to trade in for a 2014

    I've had a few issues with the 2010 that were remedied. Knock on wood, it's ok now. Can't beat the drive and the handling! When it's time, I'll get another.

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