Hi Guys, need some help here regarding this lease deal (or more like lack of). 2023 Escalade Sport AWD short version with Onyx package and towing.
The MF is ridiculously marked up. Doesn’t sound like dealer is willing to budge. I want to understand the deal, so can somebody tell me if I calculated this properly? Or do I need to make adjustments? Calculator Link
I know the 10k down is ridiculous, let me know if you have any other ideas to make this a better deal. Considering to just finance it thru a credit union as an alternative, but I’m just lost at this point. Unfortunately I’m in love with the car. Any comments would help. Thx in advance.
Thank you, I will look into your link. Hope you don’t mind but I will probably Pm you some addtl questions later.
But yeah, I probably could get you another one if I get this one. After waiting 7 months, I finally discovered I had a “connection” that could help me get an allocation for a sport with onyx which has been on constraint.
You may need to shop around at different credit unions for the best rate. The rates I quoted are from SEFCU but not everyone may qualify for membership. I’ll see if I can find an option in Michigan (I spent a few years in Ann Arbor).
I do not qualify for SEFCU membership unfortunately. But those numbers look w much better for me. If you come across anyone in MI with similar figures, please let me know. I really appreciate your help.
Ended up calling AFG and they are going to send me a list of local CUs that offer their product. Hopefully that will get me to someone offering close to 4.74%
Looks like they are at 5.39 for the AFG product. I have in my notes that they charge excessive fees for vehicles with high MSRP but that was from some time ago.
Thanks for posting the deal. Is your dealer willing to offer good discounts on an XT5? I don’t qualify for employee discount but should qualify for supplier discount.
Let us know how that works out. Would be great to know of another CU offering the AFG minimum. Sometimes I can still sneak into these Michigan CU’s as an alumnus.
Alright guys, I’ve hit a brick wall and need help. Cadillac dealership is telling me I cannot get third party financing, and must finance or lease in house thru the Cadillac dealership. Is this legal? I’ve never heard of such a thing. I understand they want to make more money in this deal, but can they legally do this?
It’s a pretty crappy way to treat a customer spending $100K but it’s not entirely uncommon when big discount/rebates/incentives are involved. Going the “legal” route here won’t lead to anything fruitful, mainly you with the car at a good deal.
Nothing prevents you from immediately refinancing out of whatever financing the dealerships is requiring to the product and/or lender of your choice. This is probably the path of least resistance.
They can do whatever they want, what’s your recourse? I’d use their in house financing and just refinance it, if you do it quick enough they’ll get screwed out of whatever money they make on the financing too.
In many cases I would extend the same courtesy (and have).
But if the dealer is requiring me to use their financing and I didn’t either 1) agree in advance to keep the loan open for X months or 2) receive some direct financial benefit, I’m refinancing at the first opportunity.
Rates are going up, so potential refi savings erode with the passage of time.
