Hello; my wife’s Cadillac SRX lease is ending soon and was at dealership today and was presented with the following lease offer on 2018 XT5. It seems to me like the Initial Cap Cost is way too high; but i am not sure what exactly the “rebate” is referring to without a breakdown. This is a demo model with about 3k miles.
It is their last available demo model for time being so I may go back myself to negotiate, but would love some advice. I assume i should try to get down payment to $0 or close to it as opposed to $4k? What other terms here seem like they are out of line? What should I reasonably expect to pay here all in with $0 drive away costs?
Term: 39 months
Miles: 8,000 per year (this is sufficient for how much she drives)
MSRP: $42,345
LEV RT/Amt: 54%: $22,866 [I assume this is residual?]
Initial Cap Cost: $41,000
Rebate: $4,962
Cash Cap Reduction: $2,583
Money Fact Sell Rate: .00044
Total Cap Reduction: $7,545
Total WE Owes: $399 [not sure what this is?]
Capped Fees (w): $1,589
Total Sales Tax: $1,407
Adjusted Cap Cost: $35,442
Lic/Reg: $432
Upfront Fees: $155
Amount due @ start: $35,442
Customer Cash Down: $4,000
Base Monthly Pmt: $362 including monthly taxes
This seems high to me. I just pulled up the lease deals for GM employees and on a brand new one with a MSRP of 41,190 I get a 279 payment with 2,939 down. This again isn’t a demo, so I would think you could at least match that with a Demo and not being an employee.
Thanks; when you say $2,939 down I assume that does not include the $1400 sales taxes and ~$1,000 in other misc fees listed above?
But it also appears above that they are only applying $2,583 of our $4,000 as a down payment/cap reduction and the rest to taxes/fees? Am i interpreting that correctly?
Yes, in my scenario tax, title and license were extra. That being said doesn’t look like they are giving you much of a discount for it being a demo at all. From what I am seeing they are only giving you a 3% msrp discount on the sales price. Doesn’t add up for me.
Thanks. Anyone else have advice? The cap value seems absurdly high; especially for a demo? What discount should i expect on a demo? at least 10-15%?
That is a horrible deal. You can lease one brand new for less than that with less down. Did you even do any research? Look at local dealer and regional offers and you should realize that.
Can you do better? I see a lot of people on this site critique but no proof. I agree It’s high but we should help not ridicule.
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Thanks. I am not taking the deal. It is simply what was offered to my wife with no negotiation. I am looking for advice on how to respond. Just Saying it is a terrible deal without any recommendation on what specifically is terrible is not very helpful.
What dealer in SoFL?. I had best luck with EdMorse in delray
Thanks all. We ended up signing a 39 month, 10k miles 2018xt5 in white (1100 upgrade). New car (non demo).
800 total out of pocket including first month pmt. $410 per month. MSRP was a little over 43k.
Might not be best deal in world but worked for us.
Hi, I live in Houston, and currently in the market of SUV. Could you please send me a goid deal of one of your white demos? I would like it to equip with front/back sensors, blind spot sensors, sun roof, front warnning, basically a load one. You can reach me songshan311@gmail.com, thanks a lot.
Ocean Cadillac in Bal Harbour
Was that Vera Cadillac by any chance lol. There prices are horrible. I got quoted a price for 2 vehicles for 1 car hehehehhe
