Deciding whether to pull trigger before 10/31. Opinions appreciated!
Papers drawn up but going off memory at the moment.
2019 Cadillac XT4 Premium Luxury AWD
Loaner/Demo (4XXX miles)
MSRP: ~$54K
Selling Price: $40,485 + TTL
Monthly Payment: $475
Drive-Off Amount: $475 (first month only)
Months:36
Annual Mileage:10K
MF:.00053 (dealer rate was.00151, took some prying to get this info; called out the significant mark-up from .00013 buy-rate; dealer offered to (almost) split diff…resisted urge to grind on this given relatively minor effect on overall deal but would be lying if i said it didn’t irk me in principal)
Residual:54%
Incentives: GM Employee pricing, BMW conquest, Oct 2019 lease cash ($1000)
Region:SE (taxes levied on selling price)
Leasehackr Score: 9.x years
Fully loaded. All taxes/fees rolled into deal. First month DAS.
Pushed to add extra service visit to deal (lame that GM cut out scheduled maint starting in MY19)
Of course. Read the program details And exclusions;
Regarding the XT4 deal, how is that monthly even possibly with a “25% discount”? I was working on a $55k XT5 demo last month and was waaaay under that monthly on a discount half that…can you share your lease calculation or a dealer sheet? What region are you in?
Also GM dealers can only mark up .001, so it’s not possible to mark a .00013 rate to .00151.
@chrishs2000 Awesome - members like you are why I love this forum!
Here’s the breakdown (some of my numbers from memory were off, corrected below) from lease agreement (NOT signed/submitted yet)
Please let me know your thoughts! Will hold off on decision/signing
MSRP: $53,XXX Gross capitalized cost :$47,698 ($44,485 + tax ($1709) + TTL ($155) + Acq Fee ($650) + Doc Fee ($699))* Cap Cost Reduction$4,477 ($4,000 noted as “rebate” on deal sheet) + $477.87 first month DAS) Adjusted Cap Cost:$43,698 Residual Value:$28,124 Dep & any amortized amounts:$15,574.21 Rent Charge:$1,629 Monthly Payment:$477.86
-MF was adjusted to 0.00063 (thought it was 0.00053 given that dealer agreed to split diff from buy-rate of 0.00013 and dealer rate of 0.00151)
-Re: Costco rebate. Reached out to confirm it tonight and received the following response: "I just confirmed that the costco incentive is not compatible with the Employee Referral program."
So they are buying back the miles? The residual doesn’t make any sense to me. RV looks to be 53% for 36/12 on this trim according to edmunds. Yours is slightly less than that.
A full MF markup of .001 would be $2585 additional cost, so a little more than $200
I have no idea what he’s talking about re: Costco. You apply for the gift card from Costco, the dealer has nothing to do with it. All you have to do is lease or purchase a GM vehicle. Maybe he’s talking about the supplier pricing from Costco?
Do you have GMS or a GEX? Neither actually ‘applies’ to a demo since the selling price will be below employee pricing but dealers may get some sort of kick back from GM for using it. I’ve had some dealers tell me they don’t care about it, and other dealers tell me they can do extra with it.
The 17.5% selling price discount on the demo is pretty strong.
FYI the XT5 is leasing far better this month. The monthly looked high to me because I didn’t realize you were in VA (full selling price tax is applied).
I’ve dealt with dealers that will “buy back” the miles, essentially lowering it by .20 or .25/mile (can’t recall GM formula now that the workbook is gone), similar to BMW. They do ALL miles though and not current miles - 500. This may be the RV discrepancy.
Others will do it by the book and you lose the miles unless you buy them (or roll it in).
Hi Chris. I’m interested in a 2019 or 2020 caddy XT5 LUX or PLUX. Since you mentioned that XT’s lease far better this month, do you happen to know if this also applies to South Miami?
Dealer said that GM Employee pricing doesn’t qualify for Costco program (even just the card)
Costco Auto didn’t know the answer (i.e. is Costco supplier pricing separate from the Cash Card promotion or dependent on each other) and is following up.
Does anyone have experience with Costco/GM program and GM employee pricing (together)?
employee and costco NOT compatible.
been like that for a few years.
*unless its during employee pricing for everyone or that car has a promotional employee pricing going on.
employee, friends and family, etc not applicable.
Given your knowledge and experience, where would you say this deal falls on the scale from “run away!” to”hacked!” ?
Is there anything else you think is reasonable to ask for?
Got agreement for first scheduled service to be done prior to pick up and 15k service to be comp’ed (they agreed via a “we owe you” form). Anything else you suggest?
The 17.5% discount is very good. I think this is the first decent deal we’ve seen on an XT4.
I only suggest completely understanding all the numbers so that you’re prepared to double check a lease agreement, and also running the numbers for a 15k lease without buying the miles back versus the 12k and buying the miles back up front. As I said I bet the $/mi cost is less.
I know you only have 1.5 days left but I would also shop XT5 because they have higher residuals and higher incentives (given the same MSRP and discount it will lease cheaper).
Outside of incentives, GMF numbers are the same (or at least always used to be) outside of some potential slight variances in TX. Then again, that could’ve changed now that the workbook is locked down again.
Also of note, I believe Caddy pared down the maintenance to 1 visit in 2020 vs the full 3 years in 2019. That means, be prepared for the up sell in F&I. (Spoiler: ain’t worth it).
