Would appreciate negotiating guidance. This is for a Lyriq I pre-ordered which has finally arrived. I haven’t committed to anything beyond the original $100 reservation fee.
2024 Cadillac Lyriq AWD Luxury 2
MSRP: $71,115
Price: $71,115 (+$895 for optional “theft engraving” which I’ll be asking them to remove)
Due: $5,000
36 months, 10K miles per year
Residual: 70% or $49,781
MF: .00293 (7%)
Payment: $919.62 (+tax)
I ran the above through Rate Findr and it looks like they’re quoting GM’s April subvented lease for my area which eats the $7500 EV credit and gives 70% RV on a 3-year. The one thing that’s different is the MF - per Rate Findr it should be ~6% not 7%.
Can I assume the MF difference is the dealer trying to get a little extra off the top? I plan to ask for it to be reduced to at least 6%, or to drop the price to offset the increased rent charge.
I also tried a bit of local pricing research but I can only find minor discounting on RWD models.
Where else should I push on this? Or is MSRP w/the GM lease terms about the best I can expect to do right now?
Yeah saw that and trying to figure out how he got to the numbers offered. Lux 1 has higher RV than Lux 2 so that helps somewhat, but looks like he still has to have some substantial MSRP discounting going on to get that rate + the payoff on his other vehicle. Maybe NJ market is different.
Thanks for the feedback. There are really two paths I’m exploring here:
I specifically want that model Lyriq and I’m willing to pay a premium but not over market.
I want the best possible lease deal on a higher-end BEV SUV and am flexible on model and options.
I realize this forum generally orients toward approach #2 and I’ve already been exploring iX as a possible alternative. Blazer is also a good suggestion, not quite as nice as Lyriq but thousands of dollars in relative savings would surely make up for that.
I’ll entertain a conversation with Cadillac dealer tomorrow and see where it goes. If they can come significantly closer to something like the NJ deal (plus WA tax of course ) I’ll probably sign. Otherwise I’ll shift to strategy #2 and take my time - luckily I’m not in a hurry.
I called over 25 Cadillac dealers throughout New Jersey. First couple places offered 24 months 10k miles in the 900s and I kept working it down. I was at 659 yesterday and today I’m at 640 with one dealer going lower tomorrow and then I’ll lock it up
I think you can do a lot better than MSRP. Start calling around / emailing around to everyone in the area with lots of Lyriqs in the trim level you want and see where they land.
This is a volume car so GM is not looking to restrict supply of these. I took delivery of my ordered Luxury 2 in January and still got some amount of a discount in the form of an inflated trade-in allowance on my trade-in (basically the dealer paid me full retail for it- about $3,500 above MMR). And the market has changed again since January.
The ‘popular’ colors (white, black, silver, blue) appear much easier to find and I would expect incremental discounting on those versus some of the less common colors (red, green, celestial, etc.)
Thanks everyone for the input, and congrats Chase_Rose on your excellent deal!
Unfortunately the 5k private offer was only for 2023 preorders - those were closed when I made my reservation so I was on a list for 2024.
That said, I told the dealer I wasn’t sold and would be continuing shopping (other dealers as well as other vehicles like the iX) and magically they found a $2k “Select Market CCR” rebate that applied, dropped $1k off the MSRP, fixed the MF and got rid of the theft engraving add-on. So we’re doing a lot better, but overall point noted that a Lyriq Lux 2 probably isn’t going to net out to a screaming good lease deal.
) I’ll probably sign. Otherwise I’ll shift to strategy 