Would love everyone’s input on this deal:
*2019 Cadillac Escalade Standard 4WD demo with 2500 miles
*MSRP is $80,700
*24 months with 10K miles per year
*Residual is 62%
*MF is .001 (buy rate is .00002 for December…more on this below)
*Dealership discount = $12,400
*Rebates = $4000
*Net price is $64,300
*Payment with tax is $819.97
*DAS = $3629 (dealer doc fee, license, tax on rebate, first payment and acquisition)
So the dealer increased the MF to help pay the finance people some commission but then offset it by increasing the discount to the $12,400. If I do the math, it seems to be about $3K.
I am a bit confused about the 2500 miles comment though. The contract they gave me (which I have not signed) shows 22.5K miles allowed meaning the 2500 + 20K. Am I missing something here?
16% with base MF would be incredible. I will see what I can do.
Then they bought the miles back at $0.25/mi (?? Cadillac may be different, but it’ll be in the contract somewhere). It may be cheaper to increase the term to 12k.
My cousin leased a 2019 last month for $640 and 0 down, it was not a demo.
Mind you this is in Michigan where employee discounts are a dime a dozen and the market is always flooded with American SUV’s, I have to give that disclaimer whenever I comment on a deal. So it’s just for reference but yea I think there is a lot of room for improvement. Besides my cousin who got a screaming deal on his half of Michigan leased a 2019 Escalade for $699 a month 0 down, it was a known deal that everyone jumped on early in the year.
Sorry don’t have that info I don’t even think he does, he just went by the payment. Leasing American cars in Michigan is a whole different ball game. But he did pay the salesman $200 for an employee plan number as did everyone who leased one or knew someone that worked at GM to get it, so again it’s just for reference…
Yes I’m well aware about leasing in Michigan, and who knows if he got a great deal or a terrible deal since this is just blind monthly payment talk.
GMS numbers aren’t as loosey goosey as they used to be. I’d be pretty surprised if a salesman was actually taking cash payments for actual GMS numbers.
I get it, we like to see the numbers and analyze them here but in reality it comes down to the final price doesn’t it? Either you are willing to pay it or you’re not and he felt $640 a month was doable, MF, residual and all that is a foreign language to most people who lease which I’ve noticed once I educated myself on those things thanks to this forum. Even my Lexus dealer was a little taken aback when I asked him for those numbers recently.
It usually goes one of three ways, either you know someone that works at the plant and give him a nominal fee for it or gives it to you for free, you know a guy who acts as a “broker” for the employee ID’s that marks them up for profit or your salesman has guys lined up who are willing to sell them to him usually cheap because he wants to make the sale. Not to say every salesman does it but it’s more common than you would think, my sister just paid her salesman for one recently even though she probably could have dug around and got one for free it wasn’t worth the hassle.
Let me ask you this, would he have a sheet with all those numbers on it with his paperwork from the dealer? I could probably get that from him along with my friends who also leased one…
