Hello LH! Long time lurker on LH and finally taking the plunge to lease my first vehicle.
I’m in the market for an SUV and was given the following offer on a Cadillac XT5:
Base 2021 XT5
$502.12 Monthly payment
12k miles, 48 month lease, 3k down (I know I shouldn’t put money down on a lease, so I am hoping I can get a deal check on the numbers below before going back to the dealer to play ball)
That is high for a base XT5 & too long of a Term. Is this a FWD or AWD XT5?
Check out the Edmunds forums to get the MF and RV for the term/miles you will use. Make sure your dealer is using base rate and not marked up. You also didn’t include the RV, any rebates available to you & if that monthly or down payment includes your sales tax?
At least in my area (NY: There is $2k lease allowance for Current owners and leasses for 2007+ non GM vehicles)
Given the shortages of inventory, its not surprising its that high. Is the XT5 a must have for you?
Thanks for your response. it’s FWD. I need to get the RV from them; I tried using the LH calculator, but it looks off to me as the monthly output generated doesn’t match what I was given of $502.
No rebates available. The down payment doesn’t include tax. I’m assuming the monthly does include the tax, but I’ll confirm. The XT5 isn’t a must have. I sold my GLA 250 MB to Carvana because I need something bigger for my family. I’d like something luxury, but not another MB as the MF/Lease deals are higher than I’m comfortable with.
I’m open to other SUV leases. I’m also considering a Lincoln Nautilus, but waiting on numbers.
Most cars do not lease well. This is truer now than it has ever been. Which means you cannot start your search with a particular car or cars in mind, and then find a way to make them lease well.
It will be like pushing a boulder uphill while pulling teeth, and you’ll still probably have a bad deal in the end. You need to start your search by filtering only the vehicles that are leasing well right now and offer good value per dollar.
Check out the “Share a Deal” and “Marketplace” sections of LH forums to decide what’s leasing well and pick a vehicle that is already proven to offer good value.
Remember, there are no magic wands that can save a deal from poor programs (RV, MF, and incentives) and/or poor discounts.
Every reply so far has had great advice! One thing I’d add is Austin isn’t a big enough town to have much dealer competition, so lease deals tend to be a lot harder. Make some offers to dealers in Houston (or Dallas) and you’ll probably get a better price.
