Here's a breakdown of what it would cost to purchase the ELR at its base price in Los Angeles:
$75,000.00 - MSRP
+$7,312.50 - sales tax (9.075%)
+++$995.00 - delivery charge
+$1,692.50 - DMV, doc fees, tire fee, etc. (best guess)
----------
$85,000.00 - TOTAL
Taking competitive auto loan rates from Bankrate on a 60 month payment period (3.75%), the monthly payment would be $1,555.83. A 48-month payment period @ 3.03% = $1,882.55/mo, while a 36-month payment period @ 1.99% = $2,434.25/mo.
If one bought the ELR in February, then one could expect a $1,500 tax rebate check from California by June 2014.
If one bought the ELR in 2014, then one could expect to have a Federal tax credit that would offset up to $7,500 of any taxes owed to the IRS when taxes are filed in March/April 2015.
California would process the owner's carpool lane stickers by approximately June 2014 (assuming the dealer expedites the license plates), and those stickers would grant single-driver HOV lane access through January 1, 2019.
Here's another scenario:
$75,000.00 - MSRP
+$7,312.50 - sales tax (9.075%)
+++$995.00 - delivery charge
+$1,692.50 - DMV, doc fees, tire fee, etc. (guess)
-$2,000.00 - GM Card points redemption
-$3,000.00 - down payment (or trade-in)
----------
$80,000.00 - TOTAL
60 month payment period @ 3.75% = monthly payment of $1,464.31
48 month payment period @ 3.03% = monthly payment of $1,771.81
36 month payment period @ 1.99% = monthly payment of $2,291.06
Here's one more scenario:
$82,000.00 - MSRP + possible upgrades/packages
+$7,995.00 - sales tax (9.075%)
+++$995.00 - delivery charge
+$2,010.00 - DMV, doc fees, tire fee, etc. (guess)
-$3,000.00 - down payment (or trade-in)
----------
$90,000.00 - TOTAL
60 month payment period @ 3.75% = monthly payment of $1,647.35
48 month payment period @ 3.03% = monthly payment of $1,993.28
36 month payment period @ 1.99% = monthly payment of $2,577.44
----------
I visited an ELR-certified dealership identified in the e-mail Cadillac sent me to get more information. Here's what I found out:
1) The only packages available will be LUXURY for $1,695; ADAPTIVE CRUISE CONTROL for $1,995; UPGRADED WHEELS for $900; and a SEATING package for $1,300 that requires choosing Kona Brown but gives you a driver's seat with 20 separate adjustments. Therefore, a fully-loaded ELR should cost $81,885 + sales tax, etc.
2) Lease residuals are anticipated to be around $52,500 and the money factor between 0.0013 and 0.00184 for a 3-year lease. But this has not been set, yet. The dealership expected leases to cost about $1,000 - $1,250/mo. for a three-year lease at 12,000 miles/yr.
3) Purchases should expect to see an interest rate of approx. 2-3% for 48-60 months. A 72-month purchase loan should also be available from a third-party bank (i.e., not GM Financial).
4) The reverse camera is supposed to be a significant improvement on the Volt's camera, but the dealership didn't have confirmation.
5) The cars will start to arrive in late December or early January. Most dealerships get two at first, then between 18-34 after that depending on demand and each dealer's sales.
6) Dealerships will have a higher tier of service for the ELR, including fleet loaners instead of sending customers to Enterprise when the car requires service. There's even going to be a dedicated number for Cadillac owners to call (which I think the dealer told me was 855-4CAD-ELR)
$75,000.00 - MSRP
+$7,312.50 - sales tax (9.075%)
+++$995.00 - delivery charge
+$1,692.50 - DMV, doc fees, tire fee, etc. (best guess)
----------
$85,000.00 - TOTAL
Taking competitive auto loan rates from Bankrate on a 60 month payment period (3.75%), the monthly payment would be $1,555.83. A 48-month payment period @ 3.03% = $1,882.55/mo, while a 36-month payment period @ 1.99% = $2,434.25/mo.
If one bought the ELR in February, then one could expect a $1,500 tax rebate check from California by June 2014.
If one bought the ELR in 2014, then one could expect to have a Federal tax credit that would offset up to $7,500 of any taxes owed to the IRS when taxes are filed in March/April 2015.
California would process the owner's carpool lane stickers by approximately June 2014 (assuming the dealer expedites the license plates), and those stickers would grant single-driver HOV lane access through January 1, 2019.
Here's another scenario:
$75,000.00 - MSRP
+$7,312.50 - sales tax (9.075%)
+++$995.00 - delivery charge
+$1,692.50 - DMV, doc fees, tire fee, etc. (guess)
-$2,000.00 - GM Card points redemption
-$3,000.00 - down payment (or trade-in)
----------
$80,000.00 - TOTAL
60 month payment period @ 3.75% = monthly payment of $1,464.31
48 month payment period @ 3.03% = monthly payment of $1,771.81
36 month payment period @ 1.99% = monthly payment of $2,291.06
Here's one more scenario:
$82,000.00 - MSRP + possible upgrades/packages
+$7,995.00 - sales tax (9.075%)
+++$995.00 - delivery charge
+$2,010.00 - DMV, doc fees, tire fee, etc. (guess)
-$3,000.00 - down payment (or trade-in)
----------
$90,000.00 - TOTAL
60 month payment period @ 3.75% = monthly payment of $1,647.35
48 month payment period @ 3.03% = monthly payment of $1,993.28
36 month payment period @ 1.99% = monthly payment of $2,577.44
----------
I visited an ELR-certified dealership identified in the e-mail Cadillac sent me to get more information. Here's what I found out:
1) The only packages available will be LUXURY for $1,695; ADAPTIVE CRUISE CONTROL for $1,995; UPGRADED WHEELS for $900; and a SEATING package for $1,300 that requires choosing Kona Brown but gives you a driver's seat with 20 separate adjustments. Therefore, a fully-loaded ELR should cost $81,885 + sales tax, etc.
2) Lease residuals are anticipated to be around $52,500 and the money factor between 0.0013 and 0.00184 for a 3-year lease. But this has not been set, yet. The dealership expected leases to cost about $1,000 - $1,250/mo. for a three-year lease at 12,000 miles/yr.
3) Purchases should expect to see an interest rate of approx. 2-3% for 48-60 months. A 72-month purchase loan should also be available from a third-party bank (i.e., not GM Financial).
4) The reverse camera is supposed to be a significant improvement on the Volt's camera, but the dealership didn't have confirmation.
5) The cars will start to arrive in late December or early January. Most dealerships get two at first, then between 18-34 after that depending on demand and each dealer's sales.
6) Dealerships will have a higher tier of service for the ELR, including fleet loaners instead of sending customers to Enterprise when the car requires service. There's even going to be a dedicated number for Cadillac owners to call (which I think the dealer told me was 855-4CAD-ELR)
