I was the first day reservation holder for 23MY Lyriq back in May of 2022. GM couldn’t produce much of 23MY cars at all so they offered conversion to 24MY along with $5,000 rebate ($100 reservation fee paid, and had to place an order for 23MY and 24MY with assigned dealers) to observe the cost increase with the MY change.
My originally ordered vehicle (24MY Luxury 2 AWD) was produced during 2nd week of August 2023. However, due to GM’s internal quality control and UAW strike, Trucker shortage, this vehicle arrived at the dealer around January 20th of 2024.
Both GM Financial and Ally just started offering residual bumps in lieu of tax credits at the time. so the lease payment was around $800/mo area when BMW ix 50 with $125K MSRP leased less…
So I told the salesperson I would wait for summer. I also picked up ioniq 5 SEL back in September as a daily. so It wasn’t really attractive for me to jump on this.
My 23 Ioniq 5 SEL started to exhibit some L2 charging problems due to connection issues. Hyundai ended up approving the Lemon Buy Back as of July 10th. Although I could still use the car until they pick up (which is now scheduled for Mid-August), I start to looking for EV lease as replacement.
I went back to the dealer I originally placed the order of Lyriq with. They only have one Luxury 2 and four Sport 2s. I really wanted SuperCruise so Level 1 or Tech doesn’t work for me. in CT, Cadillac only offers famed incremental CCR program for previous loaners. so I was not eligible.
After $5,000 private offers, $3,000 for competitive owner rebate, $1,000 Costco rebate and $500 for opening Cadillac brand credit card (I immediately got approved for $15K credit line and put $3000 DAS on this card via virtual card #)
in Connecticut, vehicles with over $50K transaction price automatically triggers increased (from 6.35%) 7.75% sales/use tax.
after $6082 Dealer discount, $796 dealer processing fee, $190 for title and license, my 15,000 miles per year lease with 76% residual, came out as $326.95/mo with $3000 DAS.
I choose 2 years of free EVgo. Cadillac dealer offered $75 amazon gift card as ‘test drive’ and I made my sales person apply for that as well. Also, Cadillac rewards point came back about $150 which I can use to extend Onstar service.
