So December 2018 I leased my Cadillac CT6 Plug-In as an extra car. I traded in my 2013 Honda Accord (appraised at $9k with Texas Direct/Vroom) and wound up with no payments on a 36 mo/12k lease on the CT6 ($76.6K MSRP). I knew 12k miles a year wouldnt be enough for my driving but figured I’d just turn it in early when i hit 36k miles.
I ended up claiming the EV credit in the State of Texas ($2500) and the Federal Credit on my Tax Return($7500) per my agent at H&R Block. So far that’s $10,000 back in my pocket and all I gave up was my Accord. During my ownership of the CT6, it constantly gave me problems that I could reproduce easily so I kept taking it in for service…
After about 9-10 months I filed a Lemon Law Claim through the BBB to get them to repurchase my vehicle from me. Keep in mind, my vehicle was in for service and I was driving around brand new Cadillacs for months at a time. In total, I calculate I put about 30-35,000 miles on loaner vehicles during the entire ownership of my car and finally turned in my CT6 with ~18k miles on the odometer just the other day. Cadillac agreed to pay me ~$7700 for the repurchase of the Cadillac so I netted out ~$17700 -$9,000(Accord Value). They paid me ~$8700 to put ~50k miles on their vehicles?
By the way, I have multiple vehicles and would typically drive other cars to not mile up the CT6 so quick but since I had free loaners with no mileage caps, I fifgured I’d drive their cars.