I’ve been shopping for a 2025 Cadillac Lyriq (AWD, Luxury 2 trim) in the Minneapolis area and the lease numbers I’m being given seem pretty high. So I came here and used the Rate Findr tool to see what MF and residual I should be expecting. I sent the numbers from Rate Findr to the dealer today and they are telling me that the MF is incorrect and the only rate close to it is for the '24 Lyriq. Is it possible that Rate Findr is incorrect or is it the dealer?
Here’s what I’m getting from the dealer- $73,799 MSRP, $71,299 selling price, $3000 in incentives (conquest and Costco), a residual of $60,515.18 and using a MF of .00395. 24 months and 10K per year. So factoring in a trade in valued at $6,000 and nothing else down they are saying $647 a month.
Rate Findr gives me the same residual (82%) but a MF of .00137083.I put in the same gov fees and doc fee as the dealers quote, and MN’s tax rate. I also included $6000 for trade in (I likely won’t trade in but to compare apples…) and the $3000 in incentives. The monthly comes to $371.
You’ve probably already resolved this issue, but I’m going through this process and I see a couple issues with the numbers. The money factor on your link is way lower than you are likely to actually get, and your residual value is way higher than you are actually going to get. Residual should be around 70% ish and money factor depends on a lot of things, but anywhere from 0.002 to 0.003 ish should get you closer to actual offers.
For information, last week, I leased an AWD Sport 2 in TX, with an MSRP of $70,100 and a monthly payment of $675, with zero down. I did not have any eligible offers. But TX had some tax credit, or something was happening; I paid $750 towards taxes.
If you have $6000 equity for your trade-in, they are making a lot. Your payment should be around $500 per month, I think.
The 1 trims have very high residuals because they are factoring in the 7500 EV credit. The higher trims don’t include that so you may have been looking at the wrong trim.
Although I can’t even find someone willing to get close to the RF values on a sport 1 so maybe they’re all wrong.
It’s based on the RF rates as well as what they said on the Edmund’s forum. IIRC you can subtract 7500 from the 1 residual and roughly end up around the 2’s residual in terms of percentage.
The Edmunds forum mod also said that that’s how they are able to keep the 1’s residuals so high and get deals done on them.
