Thanks, All. My parents have decided to punt until after Memorial Day, at least.
Plenty of Lyriq deals on Marketplace here… for a lot cheaper than that offer.
Like they all said, keep the RZ450 and lease Lyriq without the trade
Maybe your dad should just BUY an RX350 instead-they’re a dime a dozen out there where they live haha
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Previously, my parents were asking for my help on leasing a Cadillac Lyriq (thanks to all here who helped me dissuade them). They have changed their minds and now want a Cadillac Optiq, in the Luxury 2 trim.
Attached are two options provided by the dealer. One with a negative equity trade-in and one w/o.
$972/mo., $5k down, with the trade in, seems like an awful lot.
And, without the trade-in/negative equity, $608/mo with $5k down still seems high.
When I asked about the tax credit, they advised it’s built into the 0.68 residual. They are also putting $2k on the hood along with a $3.5k discount. They took off most of the junk add-ons as well, except for Lojack. Maybe they can’t remove it.
Here’s the closest I could get the leasehackr calculator to their offering.
I feel like they can do better than this. What’s the best way to put the pressure on the dealer?
Thank you,
Seems like a bad deal. Not necessarily because of the payment for this car (still probably bad) but because you could get a LYRIQ Luxury 2 for a lower payment.
Not sure I follow. Would be cheaper than the quote you posted.
Move on to the next dealer. Also have you gotten multiple quotes for your trade. Not sure how old your parents are but playing the negative equity game near or in retirement seems like a recipe for disaster.
Have you checked the deal page.
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My parents are in their mid-80s.
The above looks much more promising and I’ve also now heard that $0 down is the way to go.
This dealer hasn’t given me the MF yet but it appears to be around .0027. Seems too high.
Plus, why do we need to pay for LoJack? I think the dealer puts it on their cars in the lot, but why do we need it? Well, we don’t…
Wow Neg equity 11k. What is this mystery car?
Today’s cars come with full tracking, Lojack is useless these days on new cars.
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If dealer won’t remove add ons you simply need to negotiate a larger discount. You also need to be reaching out to 10+ dealers. It might be hard for you to beat that pre-negotiated deal. The good deals on these requires conquest and supplier so make sure you understand what incentives they qualify for.
The trade-in is a 2023 Lexus RZ450e.
Yeah, I figured Lojack was useless.
10+ dealers? I don’t think there are that many within a reasonable driving distance. Wow. I guess just going to your local dealer is a great way to get the wool pulled over our eyes, huh?
I’ve been reading that walking into a dealer before the deal is done is a no-no anyway. So doing the numbers remotely would make sense.
Walking into the dealership w/o a deal in hand is like a hen walking into the foxes den, huh?
The only reason to walk into a dealership is to pick up your vehicle. For most using a respected broker on this site or selecting from a pre-negotiated deals is probably the best option.
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Are you sure you want your mid-80s parents in an EV by now?
I remember seeing a lady in her 70s struggling with apps to charge her Volvo in a Circle K. She had no idea what to do.
Yeah, well, they always ask me for help with public charging, except EVGo where they have autocharge. Their current car is an EV.
Quick add on question. I’m having trouble getting all the numbers and don’t want to leave this to our visit to F&I later. Things only go poorly there.
Is it unusual for me to ask for a lease worksheet? They are still giving me little detail and I’m getting increasingly frustrated.
So much context is missing from your previous thread which is why it’s helpful to continue an existing thread rather than open a new one.
It doesn’t really matter what car it is. Lyric or Optiq, the strategies are the same.
But back up a second. All that negative equity rolled into a massive overpayment for a car with marginally longer range? Doesn’t seem worth it.
If it’s all down to those LA-Palm Spring drives for doctors visits maybe a used ICEV for that purpose is a better solution. 2006 LS430 for example. Or 2010+ ES350. Well-bought examples are hardly depreciating for either. No monthly payment, no depreciation, lower insurance, no range anxiety. Or newer if budget allows.
Keep the RZ for all other needs.
With all due respect your dad is not a good candidate for an EV on these long drives. If he got stranded once (very avoidable event) chances are he might get stranded again. Marginally longer range doesn’t really change that.
You really should take a step back. You are right in things will go poorly. Why do you need to go in for a visit. Structure a deal and start making offers remotely. At the end of the day if you don’t understand what a good deal is the odds of you getting a good deal are extremely low. (And the odds of getting a horrible deal are high)
Good news. My parents are taking a step back, at least for now. My Dad likes the car but is now talking about waiting for the 2026 model year. I’m glad. So, it might be a couple months or more at this point. When this comes back, I will add to this thread again, if still open.
But, per @LeaserOC it seems we should be making offers to dealers, not walking in to get their numbers.
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The thread closes automatically after 60 days of inactivity, I think. But you can always ask for it to be reopened.
And, yes, the general advice is to create your own aggressive, but realistic, proposal and then see if the dealer bites.
Great. Thanks again, everyone, for all your help!
Attached is the best (guess) I could come up with from the dealers numbers, version2, with the trade-in/negative equity and $5k “down.” I came up with $3k Amount due at lease signing, but who knows what the dealer had in mind. I’d rather not wait to get into the finance office to figure this out.
In the future, I will look to use this to make offers instead of trying to figure out if they are giving me a good offer.
Lease-Summary-Estimated-by-buyer-V2.pdf (78.2 KB)