Does anyone know the rules and how the MF and residual work on used Cadillacs? From what I gather, it has to be a CPO but I can’t find anything other than that. I’m wondering if it would be worthwhile to go after a used 24 Lyriq?
Given how new ones are leasing, what expectations do you have for a CPO?
Lease a Used lyric? Dont bother. The new ones are so good on lease i can’t imagine why you would want to lease a used
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That’s not the question I asked. But thanks.
How much more are you willing to pay to lease a used one over a new one?
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To answer your exact question, NO, given how well new Lyriqs are leasing…
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No, a much better tactic is going after loaners/courtesy cars that are untitled and still qualify for new car programs. Extra rebates on those.
Have any of you guys actually run the numbers? That’s the whole point of me asking. You are just assuming it’s a bad deal without running the numbers.
You asked and got two direct answers. Have you run the numbers to think otherwise?
During the pandemic the Lease a used car threads appeared and the numbers were horrible … well better than a nonexistent new car. After the pandemic cleared, they vanished.
A Porsche is one of the only cars that leasing used sorta makes sense considering it usually comes with an extended warranty.
Also brokers here like money and if leasing used was profitable, they would do it. No one here has posted non porsche lease used threads in 3 years…its a telling hint
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Devil is in the details of course.
I rarely say this, but why not contact this dealership for a quote, and the members here can comment on it.
Might strictly be an academic exercise, but there is some value in that.
How a Certified Pre-Owned Cadillac Lease Works
Bonita Springs drivers who want to lease a certified pre-owned Cadillac will find that the process is the same as leasing a new Cadillac, only more affordable. The monthly lease payment will depend on the difference between the sale price and the car’s estimated value at the time the lease ends. Since a certified pre-owned Cadillac will depreciate slower than a new Cadillac, you can expect lower monthly payments.
How much you can negotiate off a certified pre-owned car will depend on the car itself. You’re welcome to negotiate with our sales team, but the lower payments from leasing a certified pre-owned Cadillac will likely already fit your budget. That said, like any certified pre-owned car, you will need to adhere to mileage restrictions while keeping the car as close to its original condition during the lease’s term. When your lease ends, simply return your car to us!
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I know getting getting stabbed in the hand would hurt without ever actually doing it.
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It’s b/c we’ve seen other used car lease quotes (or actual deals that were signed) here, and, except for Porsche as mentioned, they are absolutely horrific.
Used cars (not demo/loaners, as mentioned in another post) have no subsidies. There is no mathematical way for them to compete w/ a heavily subsidized lease from a non-predatory lender.
I agree w/ @trism that it might be a useful exercise for you to get a quote and to present it here b/c that will add useful information.
I’m not sure why I have to defend my question. Anyone who knows anything about dealing with sales idiots (I mean sales guys) know they are lazy and dumb
I’ve contacted 5. 3 of them won’t even entertain the question. 1 said he’d look into it and didn’t. The other said Cadillac didn’t offer it, then said they did after I pushed back , then said he flat lit wouldn’t run the numbers for me.
So once again, no one knows the rules and are working on pure speculation. Everyone is assuming it’s a worse deal. I asked this same question about Audi/ Porsche last year and got the same push back. And guess what, it was light years cheaper to do the used lease.
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Better off finding a loaner Lyriq since that has lease cash on it. Don’t think the CPOs will include that.
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What was your deal? And was it on a used car or a retired loaner/demo (since those two are not the same thing)?
hire a broker
Audi etron GT used. 12/7.5k $550 down $545/month
The math is pretty simple on used cars is why I’m asking. Everyone is saying “ya but you don’t get the rebates”. But guess what. You don’t need them if the selling price of the used car is at or around the residual.
Yes, but there was at least one poster who apparently gave you helpful info since you yourself posted on the thread:
Congratulations.
Perhaps in the future you will consider doing that this other poster did and share your deal and findings to help improve the collective wisdom of this forum.
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