Cadillac Lyriq Sport 3 New to leasing need advice

Ask the Hackrs
1

New to leasing, can anyone tell me if this is a good deal that I got from a dealer in Florida?

23 lyric sport 3 black on black w/ 22" wheels lease quote for 15k miles

Market value selling price: 71,715.00
Total Savings 10,500
Adjust price 61,215
5 year Cadillac remote access 289
total purchase: 61504
Trade allowance 39,0000
Trade difference 22504
taxable fees 60.00
Documentary 899.00
Tax 334.00
Non tax fees 433.50
Net price 24,230.92
trade pay off 36,200
Balance 60,430.92

The $2800 equity from my trade would be used in this deal

24 months 0 down 799 first payment due on signing 799 a month
36 months 0 down 761 first payment due on signing 761 a month

2

1- What’s the MSRP? Market value is meaningless.
2- What’s the breakdown of $10,500? What’s the dealer discount and what are the incentives?

3- How many other quotes did you get to sell your current car? How do they compare to this offer?

How does your deal compare to other signed deals and broker offers?

3

MSRP isn’t listed on any of the paperwork they gave me and the $10,500 isn’t broken down. The sheet they provided me with looks like how I posted it.

4

I wouldn’t include your trade-in in any lease deal. Sell it separately either privately or to the highest third party bidder for the greatest return and then work up an independent deal for your lease. Otherwise you’re just doing yourself a huge disservice.

That being said, your effective payments are $950/mo on a 24mo or $861 for 36mo if you roll in your equity. I wouldn’t consider either of them good. Lyriq is a good $500/mo car. It’s not a $900/mo car. For $900/mo you deserve a car that actually has functional software to set charging windows.

The 24mo term is a whole lot more expensive but both are expensive. If you’re budgeting $900-1k/mo for your next lease, you can do a whole lot better.

5

Ask for the window sticker.

Spend some time reading this.

Also check other signed deals.

https://forum.leasehackr.com/tags/c/deals-and-tips/6/cadillac

6

Thank you, the window sticker is the 71,715 Market value selling price.

7

Do you have the actual sticker? Not that I’m doubting it, but if that were the case they’d just label it as MSRP not “market value selling price”. That label implies they’ve added a market adjustment aka mark-up

8

I have a copy of it, its labeled as Standard vehicle price 69,695 and options the paint color adds an additional 625 and total price 71,715.

9

Thank you for the information.

10

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