I’m back again with another one, which I’m ultimately leaning towards. Thank you again to @Zenek & @Slagathar for your feedback on my previous post. I got a Lyriq for my wife last September and went to the selling dealer to see if they could offer an Optiq deal for me based on what I’ve seen recently posted in the Signed! sub (thanks everyone for your contributions). The offer was good but the color was awful IMO (Coastal Blue Metallic). A different dealer was able to match the offer..the details of the deal sheet sent to me are below. It’s not super-aggressive like some of the one-pay deals I’ve seen, but it’s something I can live with. However, I find myself confused b/c the math is not mathing for me:
I mentioned that I qualify for a $2,000 conquest, a $1,250 Costco Executive, and $500 GM Card.
I have a Lyriq, and I previously saw an EV loyalty program…is that applicable? I think it $1k
The $7500 EV fed credit I was told is residualised; however, it’s listed on the deal sheet as the only rebate (attached photo)
Hi, we also looked at Lyric and Optiq, but I did not really understand how Cadillac is treating the $7500 rebate. Also initial money factor was .00235 so higher.
We are trying to locate a demo as well, but if the dealer is putting the rebate into the residual, not sure of how that impacts the deal. I thought the was this should work is it reduces the price, correct?
That’s what I thought. The Ariya lease deal I’m coming out of utilized the 7500 towards cap cost reduction but with my wife’s Lyriq, they said it went towards the residual (around 79% listed so makes sense). BTW, I found the best way to located loaner inventory is directly through the Cadillac website…filter using cash deals and sort low-to-high (they label them Courtesy Vehicle so its easy to Cntrl-F and quick scan the search results of all dealers in your area).
Appears to be so! I called like 7 different dealers…the #’s were all over the place. This was the only dealer that matched the deal I was given by my OG Caddy dealer that did my Lyriq. I was told the same with the 7500…and that’s why I’m confused here b/c it lists 7500 as a rebate but what I qualify for is $3750 unless there’s something I’m missing???
Rebates are taxable in many states especially ones where EVs should be popular: CA 9-10%, NY almost 9%, WA 10+ I believe. So you waste a lot of the rebate
Artificially inflating the RV is a better use of the rebate in most places. It doesn’t reduce the price per se. Inflating the RV by $7,500 reduces the overall cost of the lease by almost $7,500. There’s less waste of the rebate.
