This is my first time posting so here we go…
LEASE OFFER
2024 Cadillac LYRIQ Luxury 1
AWD in my favorite color (Emrald lake)
MSRP - $67,055
Term: 24 Month lease 12K miles
1K down plus first months payment
Monthly cost: $659.00
Now, they are also making my final payment on my Volvo XC90 of $1,200.
What do you guys think? Do it or don’t?
Anybody have any insight?
What does your target deal on this look like? What discount?
My target is $0 down and payments in the 5s but I don’t know if that’s doable
There are over 8,000 LYRIQ’s on the floor in the USA. March was EQS Madness. April is Lucid Mania. Maybe LYRIQ Magnificence and Rivian Mindmelt will start next month.
Being said, if that $659 is after tax, I don’t think you’ll beat it right now without taking a loaner/demo or losing $1,200 into your existing Volvo lease.
I would have grabbed the EQS if my Volvo didn’t have 2 more months on it and the Lucid I was close as well but I really need a bigger car.
If you were me, would you pull the trigger on the LYRIQ or wait till May, pay the Volvo and hope for the best?
There less than 20 green AWD Luxury (1, 2, or 3) LYRIQ’s in the USA out of the 8,000 clogging showrooms. I think it’s ok to get the car you really want for a good price instead of taking whatever crumb-bumb that rolls along with the lowest price tomorrow.
But I know my mindset is in the minority on this site, since the lowest price is usually given the highest accolade and respect here. So I think you should just identify what type of buyer/shopping you are.
If you want absolutely lowest bottom dollar and will lament seeing $500 monthly LYRIQ Luxuries boasted on LH next quarter, maybe you should hang tight.
If you just want a nice car for a nice price and don’t care if dozens of people on Leasehackr beat your deal a few months from now, then I think your deal is pretty good.
You are a wise man.
It’s my favorite color by far which makes a difference… I save a payment on my Volvo which is clutch forsure but ideally I’m always looking for the good deal and a good deal is more important than a “nice car right now”.
I think I will wait a month or so and I’ll see what’s being offered then.
Thanks bud!
Thats the point of putting together a well researched target deal.
A target deal isnt “I’d love to get into the $500s”.
A target deal is “based on the research i have done, the market will support x discount, and when i calculate that out with the lease programs as they apply to my situation, that comes to $617/mo… so now i know what an aggressive deal is and what to use as a foundation for my negotiation”.
A fellow green luxury car fan. The Genesis EV also looks pretty sweet in green.
Agree with the advice, if this is the exact car you want, that’s a solid deal
I waited for eqe to be in discounted, which i had my wife car cx9 mazda with 4 payments left. At the end i paid those payments and took the car back to dealer. Imo it was worth taking the eqe now than waiting in august.
I suspect Lyriq leases will get substantially better in the second quarter / as the year goes on, especially at the Tech / Luxury 1 trims which have been clogging lots for a while. The bottleneck historically were the Super Cruise equipped Luxury and Sport 2 and 3 cars, but those are now unconstrained, and most people if they can seem to have a preference for the higher trims.
That said, Emerald Lake is a very nice color (though I am biased), and GM has been slowly / quietly improving the lease program on these, so $659/month is pretty solid, especially if they will eat the final Volvo XC90 payment.
I took delivery of my ordered car (Emerald Lake Luxury 2 AWD) but the 0 down, 60 month purchase payment was within striking distance of the 0 down, 24 mo (10k/year) lease payment at the time, so it made sense to just buy it and eat the residual risk on this car (c’est la vie, life is short) to get something I really like. Would have leased it if the lease weren’t so atrocious in January.
Yeah logic dictates waiting should see more deals, but the auto industry isn’t logical.
For example, Last month Chrysler was trying to help dealers blow out Chrysler Pacifica PHEV. The money factor was 0.00086. They didn’t sell many Pacificas even with the blow out money factor. But this month the MF shot up to like 0.00404. CDJR may be managing supply and having dealers suffer holding inventory instead of putting big fire sale money on the hood.
GM could do the same, simply managing supply while watching LYRIQ’s stagnate in a endless wait for the right buyer instead of giving heavier discounts.
But on the flip side, Ford tried that wait-and-suffer approach with the MME last year.
Unfortunately the huge glut of units weren’t moving for months. Ford finally decided to put big incentives on the hood to clear inventory in Q1. They never approached “LH Worthy Blowout” status so this forum didn’t discuss those deals too much.
GM does have a track record of lease incentives to move metal compared to Ford so I wouldn’t be surprised in the summer to see Lyriq deals. And yet there are just as many Blazer EVs collecting dust on lots (and selling at a lower rate) so the Lyriq won’t be their only problem.
Holy crap, you weren’t kidding. There are more Blazer EV’s out there than LYRIQ EVs. But the Blazer EV had that stop sale through Q1 while they resolved that issue with the thing bricking at EA chargers. I wonder if the backlog is due to that, or if the Blazer EV continues to just be an afterthought after the stop sale.
Ford has 50% more MachE on lots but it’s a more proven platform and I’d take one of those before a Blazer (with CarPlay!). EVpocalypse continues.
Are we talking 2023 MYs or 2024s ?
I don’t think GM ramped up production until the 2024 model year. Just in time for people to stop wanting EV unless they were dirt cheap with mega discounts.
The greatest selling point of a non-Tesla-EV is a high MSRP and low monthly payment.
I think you should take it. LH deals are generally for people that don’t care about the color of the car. I tried helping my wife, and it ended up being a disaster because she wanted a specific color, and wanted a hybrid but not a PHEV. As HoleyDonut said, there aren’t a lot of green ones out there, so if you wait a month, you may have even less options even if the leases are better overall on the Lyriqs. You might pay $500/mo for a white base 2WD model next month, but green luxury AWD may still be $800+/mo.
So they basically have a whole year left to sell these. 8k isnt much for usual cars but I’m not sure on EVs and specially GM EV’s. Keeping that in mind, I dont expect GM to blow these out till probably end of year.
Remember they can probably already adjust their production based on standing metal.