Deal Check - Cadillac Lyriq Sport 3

Ask the Hackrs
1

Hi all - first time poster here and hoping I do this right.

Would appreciate your input on the following deal I’m considering:

2024 Cadillac Lyriq Sport 3 w/Upgraded leather interior
MSRP: $76,185
Dealer Discount: $4,000
Net selling price: $72,185
Other incentives: $8,000 ($3k conquest, $1k Costco + Two $2k incentives he mentioned)
Ancillary/Other: $2,542.31 (not totally sure what this is yet - believed to be tax)
Net Cap: $66,727
Residual: $45,711 / 60%
15k miles per year / 3 year lease
$0 down
$963.83 per month w/taxes included
$963.83 DAS

Thanks in advance!

1 Like
2

Too much for one of these imo.

Try to push for more dealer discount, closer to 10%. No add ons?

Shorter lease terms would probably bring the payment down

Are you getting lease credits.

Plug numbers into the calc to verify dealer numbers.

3

Seems high. A dealer on here (Bayway) mentioned that the Lyriq has sales tax credits available this month.

What is the MF used by the dealer on this deal? Is it buy rate or marked up?

What are the Ancillary/Other? Find out this info.

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4

For Texas residents****

I can beat that deal on a few units I have in stock- with shipping likely included…

5

His tag line says TX so I hope he’s in TX

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6

@ChevyGuy - Any Sport 3’s in stock? Preferably with the grey interior?

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7

@valek.jw - Thank You…will do so tomorrow.

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8

Where is the $7500 lease credit? Is Cadillac not passing those through? In TX you should be elegible for up to $15K in rebates on a Lyriq

9

GM’s current approach is using the ev credit as residual value support rather than as a cap cost reduction.

10

On a lease, those ancillary fees/etc. are not residualized. So, on a lease that adds a pretty good amount to your monthly since you are paying for 100% of them during the life of the lease

$2542 / 36 = $70.61 extra per month plus interest (MF)

11

Good info, Thank you! I’m guessing those fees would be better paid upfront? Still awaiting a breakdown of what they include.

12

You’re paying them one way or another if you can’t get them to remove it. You pay up front no interest, you wrap them up in the financing then you pay interest on them. Either way you pay.

As soon as they tell you what that is post on here.

13

Ancillary total - $2,537.31

  • Sales Tax - $802.31
  • Title/Licensing - $340
  • EV Tax - $400
  • Dealer add-ons (tint/door guards/etc) $995

MF - .003379

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14

The tint/etc is the only negotiable here. The other fees are legit and you’ll have to pay. They are showing a partial tax credit, hence the $802 sales tax. Maybe offer them $500 for the window tint, etc

Is the money factor buy rate? Have you confirmed what buy rate is on Edmunds Forum?

1 Like
15

According to Edmunds, the MF on 36/15k (RWD which this is…I’ve just failed to mention it) is…00238. Residual is 60%. They’re definitely coming in high on the MF.

Thanks again for the other tips @valek.jw!! Much appreciated!

16

If I’m doing this correctly, looks like my payment should be much lower…

17

This is the best I can do with the numbers they gave you. My payment comes up a bit higher than theirs in the calculator. This is using all of their numbers. Not your target deal.

18

This would be the same dealer discount w/ buy rate money factor and keeping the dealer adds at $995 … (to the best of my knowledge)

This is an only first month due at signing structure.

Your calc was nowhere near correct.

19

$899 1st payment only
or
$939 sign/drive

36m/45k miles

I sent the other day was on an 82k msrp - iirc

C24585 1SK $82,255.00 $5,201.00 1GYKPWRL0RZ122784 sport level 3

Pretty close to replicated here: