Good morning,
I am looking into leasing a 2023 XT6.
The dealer provided me the following #s, I am just not sure if this is a great deal or not.
MSRP $51,310
Dealer Discount $3,592
Dealer Price $47,718
Cadillac Rebate $1,000
Total Purchase $46,718 after rebate
Term: 39 months
Miles 12K
Residual 55%
Money Factor .00254
Due at signing $2,000
Total monthly payment $749.14
When I enter in the calculator it’s a bit off. I am not sure if I am doing it right.
Please let me know your thoughts.
Post a link to your calculator.
Here you go! Something seems off 
Most of the fields are blank. RV and MF are incorrect. Please fix that.
My apologies, I guess I didn’t share it correctly.
What are the dealer and government fees? Is the payment pre or post tax?
The deal sheet shows $2k due at signing + $3k down. If that is the case, I would walk way from this deal.
Are you married to this car?
On the sheet I wrote in the option for monthly cost at 3k down, which changes my payment to $720.
2k down $749 m
3k down $720 m
Is 2k at $749 a horrible deal? Edmunds said the price at $46,718 is great! Since the MSRP is $51310.
This is your calc, almost to a dollar.
Pluses: you’re getting 7% dealer discount + 1000 incentive. MF is high, but it’s a norm now. Minuses: $1400 in dealer fees negate large portion of the discount. Outrageous dealer fees.
Have you confirmed money factor on Endmunds forums? Are they giving you buy rate? If not, then deal is even worse than what it looks like.
This. I’d personally look for something else. On the market place, for example - BMWs - 9-10% discount on order currently, with buy rate.
You’d come out way ahead by financing an Acura MDX, Lexus RXL or Palluride.
Thanks for your reply.
The Money Factor on Esmunds is 0.00242, on my doc it’s 0.00254.
What is the buy rate? Sorry kinda new to all of this.
Where can I find the buy rate?
MDX nor Palluride don’t interest me.
For RX I will be paying the same.
I got a NX now and they want 650 for a 2023.
No, you won’t. The value retention of the RX means you’ll have lots of equity by financing it (exactly how much is a function of term and APR, etc.). As opposed to paying $30,000+ to lease a XT6 and walking away with nothing except another bill for disposition and any excess wear.
That’s why we discuss TCO (total cost of ownership) instead of comparing apples and oranges (financing monthlies vs leasing monthlies)
Oh you meant financing.
Yes, that it true!
I was truly thinking about financing the Cadillac since they have 2.9% on loans now for Cadillacs.
I would highly recommend not doing so.
At some point during your ownership the market will return to normal, and normality for the XT6 means mediocre resale value.
Gimmicks like promotional APRs are often a good way of blinding people from the true cost of owning something. Besides, you can probably get close to that on an RX anyway.
Buy rate/base money factor is the money factor leasing company offering for your credit tier for that particular lease program. Dealers have the option to increase it at their discretion for that sweet additional profit, which is known as money factor bump. Obviously sans all other variables, lease deal at buy rate will be cheaper than the one with bumped one.
You can become supper supporter here, then you’d have access to Rate Findr tool, which can lookup most of rates. Another option is to register and post in https://forums.edmunds.com/ in corresponding make/model thread, asking for current lease program numbers for your region, they will reply with lease program details, which will include buy rate money factor.
I show money factor at 0.00254 on the worksheet they gave me. (previously posted)
Looking at dealer’s worksheet, you wouldn’t know whether its marked up or not. You need to independently verify that from the sources I mentioned to be sure, or better yet know all variables before you talk to dealers. There is a lots of threads here on strategy of getting the best deal.
0.00254 is a buy rate though for 2023 FWD XT6 Luxury in FL, so this dealer is not marking it up in this particular case. Overall deal looks OK-ish for the current climate, sans outrageous dealer fees. Whether you still want to lease it at that price or switch to buy, or shop something else - its up to you.
Dealer fees in Florida are outrageous. Don’t miss it at all.
