Lease deal for STS-V

3181 Views 33 Replies 12 Participants Last post by GM-4-LIFE, May 31, 2007

TypeR0149

Discussion Starter · May 22, 2007

looking to lease a STS-V spec here are the numbers I was quoted

1000 down

829 a month

36 months x 10k a year

what should I be paying, this is on a black/black demo 1500 miles

1 - 20 of 34 Posts

XLRvman

· #2 · May 22, 2007

i have a 06 STSV was new, with dealer added sunroof, pay with zero down , for 24 mos, 597, 12,000 miles, used 1000 gm $$
There was intennse pressure from competing dealers that kept the price going as well as use of some $4k of gm certificates, etc that they pulled out of their hats
Bye the way I also have a xlrV but prefer this one as the best!

Krug Ford

· #3 · May 22, 2007

that seems a little high.

1fstkde

· #4 · May 22, 2007

XLRvman said:
i have a 06 STSV was new, with dealer added sunroof, pay with zero down , for 24 mos, 597, 12,000 miles, used 1000 gm $$
There was intennse pressure from competing dealers that kept the price going as well as use of some $4k of gm certificates, etc that they pulled out of their hats
Bye the way I also have a xlrV but prefer this one as the best!

cant believe that deal!!!!!!!!!!! that is just amazing for a 77k sticker car..i got my 07 for 2k down 840 a month for 24 months...10k miles a year, and thought that was great!! are you sure yours a v????

...

Da Dark Jedi

· #5 · May 23, 2007

Superior Cadillac said:
that seems a little high.

So, what is a reasonable range, with milage incl? Please list all the details since I'm learnig as well...

b4z

· #6 · May 23, 2007 (Edited)

I don't know all of the specifics on a V lease but figure that for every
$1000 you borrow or put down it costs/saves about $30 mo.

So the guy that was quoting $4K in instant value certificates and another $1000 off got his lease $150mo. cheaper.

If the car is $77K and the residual is 53% then you are borrowing about $36K.
If you got the car for $72K then it is $31K. If you got $4K in IVC and another $1K off then you are only borrowing $26K.
$26k x 5.9% over 36mos. is about $28.3K divided by 36mos. = $786mo.
The guys that are paying less than that either got more off the car, CCR from GM, or put more down.

But if you take 26 and multiply it by $30.00 you will be right at the $786mo. I quoted.

I am not a car dealer so my numbers may be off. A friend of mine who worked for Chrysler Financial showed me a little trick to compute interest.

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TypeR0149

Discussion Starter · #7 · May 23, 2007

b4z said:
I don't know all of the specifics on a V lease but figure that for every
$1000 you borrow or put down it costs/saves about $30 mo.

So the guy that was quoting $4K in instant value certificates and another $1000 off got his lease $150mo. cheaper.

If the car is $77K and the residual is 53% then you are borrowing about $36K.
If you got the car for $72K then it is $31K. If you got $4K in IVC and another $1K off then you are only borrowing $26K.
$26k x 5.9% over 36mos. is about $28.3K divided by 36mos. = $786mo.
The guys that are paying less than that either got more off the car, CCR from GM, or put more down.

But if you take 26 and multiply it by $30.00 you will be right at the $786mo. I quoted.

I am not a car dealer so my numbers may be off. A friend of mine who worked for Chrysler Financial showed me a little trick to compute interest.

I actually do know how to do a lease by hand

MSRP - $77,855

Residual 53%(looks like for 36months and 12k a year)

money factor 5.9%(even though edmunds says its 4.2% right now) - 5.9 x 2400(number you multiply APR by to get money factor) - .00246

Residual Value - 41,263

Adjusted cap cost - $68,000(what you negotiated for the car minus any down payment or discounts/coupons)

Principal monthly payment - $68,000-41263 - $26,737/36 = 742.69

Interest Monthly payment - 77855+41263 x .00246 = 293.03

total montly payment pre sales tax would be 1035.72

you numbers are way off, and this car should not lease for what it does, there has to be more too it, it looks like better interest rates and incentivised residual values

any dealers wanna help a brother out and let me know how you guys are calculating your lease

I just dont kow money factors or residuals that the caddy dealers have to work my deal

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Silver Dollar

· #8 · May 23, 2007

I've never been able to make a lease make sense.

I always get hung up on the residual value part. You're leaving that on the table at the end of the lease. When you buy the car it's yours.

That, the mileage restrictions and the fact that I get GMS pricing all add up to making a lease a bad deal for me.

Oh, I've had 'em try and sell me on the benifits, but as soon as I bring up the residual vaule part they start to mumble, look at their watch, stare at their shoes and then change the subject.

b4z

· #9 · May 23, 2007

This is kind of funny.
I was pulling numbers out of my a$$ to make an example
and had $26K and you have $26.7K. Crazy coincidence.
I think that if you pay 293.03 mo for interest in just 36 mos.
you will have paid $10,549.08!!!!!!Yikes!
That just can't be right for $26K over 36 mos. at 5.9%.

I know that on the GTO I bought that if I had taken the 5.9% deal over 60 months interest on $28K would have been $4130.

So there is no way you could be paying $10,000 on $26K for 3 years

I didn't use money factor at all in my example. Just the trick my friend taught me.
If you borrow $26K. Over the life of the loan you will be paying on more than $13K half the time and less than $13K half the time.
So take $13K X 5.9% = 767 X 3(yrs) = $2301. $26,000 + $2301 = $28301 divided by 36(mos) = $786.14.

I still maintain that it is $30.00 for every $1,000 you borrow.

I think that if you put another $3K down than your loan would be $90mo. less.

And I would like to know how GM calculates these thiings too. They always seem to be subordinating the leases because Asian/German cars cost more to lease and their residuals are better(in some cases).

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b4z

· #10 · May 23, 2007

The good thing seems to be that GM cars always sell for less than their residuals. Which is good because I lease a lot.

GM-4-LIFE

· #11 · May 23, 2007

TypeR0149 said:
looking to lease a STS-V spec here are the numbers I was quoted

1000 down

829 a month

36 months x 10k a year

what should I be paying, this is on a black/black demo 1500 miles

Ask for a 24 month lease quote and the price per month should drop to where it will be worth it. After 24 months, dump it off for the next CTS-V or STS-V. That's what I did. 24 month GMAC smartlease with 10K miles per year.

SG

1fstkde

· #12 · May 23, 2007

AERO1 said:
Ask for a 24 month lease quote and the price per month should drop to where it will be worth it. After 24 months, dump it off for the next CTS-V or STS-V. That's what I did. 24 month GMAC smartlease with 10K miles per year.

SG

ditto that!!!!:thumbsup:

davidrab

· #13 · May 23, 2007 (Edited)

TypeR0149 said:
I actually do know how to do a lease by hand

MSRP - $77,855

Residual 53%(looks like for 36months and 12k a year)

money factor 5.9%(even though edmunds says its 4.2% right now) - 5.9 x 2400(number you multiply APR by to get money factor) - .00246

Residual Value - 41,263

Adjusted cap cost - $68,000(what you negotiated for the car minus any down payment or discounts/coupons)

Principal monthly payment - $68,000-41263 - $26,737/36 = 742.69

Interest Monthly payment - 77855+41263 x .00246 = 293.03

total montly payment pre sales tax would be 1035.72

you numbers are way off, and this car should not lease for what it does, there has to be more too it, it looks like better interest rates and incentivised residual values

any dealers wanna help a brother out and let me know how you guys are calculating your lease

I just dont kow money factors or residuals that the caddy dealers have to work my deal

Your calculations seem to be OK, but I think
Interest Monthly payment - 77855+41263 x .00246 = 293.03
should be
Interest Monthly payment - 68000+41263 x .00246 = 268.79
That's what I've been using.

BTW, from what I am looking at (and I'm not related to a dealer in any way,
so don't quote me) the residuals are the following:
24 months - 69%!!!!!
30 months - 63%
36 months - 58%
48 months - 50%
3.95% rate for all
$1250 lease rebate

I saw that a $77715 car has a GMS of $69254, so with the rebate it comes to
~$68000. Punching the numbers into my handy spreadsheet, I get $791
without taxes for 36 months/$1000 down/3.9% and $819 for 36 months/$1000
down/4.5%. I give the price for 4.5% because when I've leased, the dealer
would never give me the % GM said, they would always mark it up .5% (they
tried more when I let them know I knew what it was they changed it).

Looks like they are giving you the GMS on the car and that rebate brings it
down to $68K. From that, your $829 seems right if that was with taxes. It
would be $835 in WI. As a note, it looks like it would be $753 for 24 months.
That is what I'm looking at. I really want an STS-V, but I should probably be
looking at a CTS-V (about $545 for 24 months).

I would try to improve on that $68k, because that's what a new one "could"
be had for. You can get GMS by getting a GM in the Driveway certificate (although
I think the name has been changed). Not sure how willing they are to give you GMS
on a V though. I did get it on my Trailblazer SS a couple months after they were out,
but I had to go to a couple of dealers to find one that would.

Good luck and I hope to have one soon too,

Dave

TBSS

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b4z

· #14 · May 23, 2007

I knew I was pretty close.
I wasn't figuring $1000 down and was using 5.9% instead of 3.9%.

They don't have the GMID certificates anymore,
they call them GM Supplier for Friends. It works out to
about $100 below invoice on the GTO I bought.
But they wouldn't let me take Supplier and the Pontiac Loyalty of
$750. I took the $750 and will use the Supplier hopefully before October.

Da Dark Jedi

· #15 · May 24, 2007

Thanks, you guys are GREAT!!! I'm still learning, except now I actually have some figures as base line. I foresee alot of number crunching in the near future. I would hear people talk about lease and what they paid and also see the advertisement where they throw numbers on the screen and I never knew how they came to this conclusion.

With seeing the numbers posted above it seem steep. Would buying a STS-V be more affordable when people bring back the car at lease end? Since it was mention that "GM always sell below residual". If there is more of you guys out there lets here how you arrived at your payment. Also, how did you guys come up with the percentage for the residuals for the months on the lease?

Dad, can I have a seconds on the numbers?

b4z

· #16 · May 24, 2007

Several months ago there was talk of used '06 Vs selling in the $59K range and below.
A lot of people who know what they are talking about say the only way to drive a Cadillac is to lease it. Because the depreciation historically is horrendous and in the last 6 years or so has really been bad.
If you bought a 2 year old Cadillac that would be smart too because
a huge amount of the depreciation has already been realized by somebody else.
I would think we would be seeing 2 year old off lease Vs prety soon.

b4z

· #17 · May 24, 2007

I think the residual numbers that quoted were for 10K miles per year.
12 & 15K would have lower residuals.

Silver Dollar

· #18 · May 24, 2007

if you're only driving 10k miles per year get a bike.

davidrab

· #19 · May 24, 2007

b4z said:
I think the residual numbers that quoted were for 10K miles per year.
12 & 15K would have lower residuals.

Yea, I think those residuals were for 12k, 10K is +1% (27 months is -1%).

Dave

b4z

· #20 · May 24, 2007

I've got a friend of mine who is going to lease a '08 (or '07) 550i and the residual is much higher than a Cadillac. The car is $71,200 and they are selling it for $68K
(gee that number sounds familiar). 3 yr lease 12K miles. His payments are going to be about $930mo, and if he bought it they would $1303mo.!!!!

1 - 20 of 34 Posts

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