Escalade Lease ?

[Turnup]

Can anyone here help with a lease or shed light on their own Escalade lease? I want to lease one and want to make sure I don't get hosed. Does Jay Photoglou have someone or can he help at all? Thanks.

 

[Enen]

If you don't want to commit to the Dealer's lease, check out www.swaplease.com. Pretty cool site, there are a lot of people looking to have others assume their current lease.

 

[Outnumbered]

Leases are simple. They are good if:

1) The term is short--rule of thumb is match bumper to bumper warranty.
2) If you do not go over the miles
3) The payment is comfortable for you and less than a purchase.
4) Put little or no cash down/drive-offs.
5) Your FICO kicks ass so you can get a good money factor
6) You are SURE you will not want out early or will not trade up early.
7) Dont buy the extended warranty or other BS in the finance office.

Go to edmunds.com lease forums. You will get a good idea of what people are paying on similar trucks.:thumbsup

http://townhall-talk.edmunds.com/direct/view/.ef9d9d7

 

[PokerRun388]

Leases are simple. They are good if:

1) The term is short--rule of thumb is match bumper to bumper warranty.
2) If you do not go over the miles
3) The payment is comfortable for you and less than a purchase.
4) Put little or no cash down/drive-offs.
5) Your FICO kicks ass so you can get a good money factor
6) You are SURE you will not want out early or will not trade up early.
7) Dont buy the extended warranty or other BS in the finance office.

Go to edmunds.com lease forums. You will get a good idea of what people are paying on similar trucks.:thumbsup

http://townhall-talk.edmunds.com/direct/view/.ef9d9d7

Pretty much sums it up. Nice Post.:thumbsup

 

[Turnup]

Thank you for the replies. Here's what it boils down to which is why I asked in the first place, I'm trying to get my payment to $840 and the dealer says I need $8k down to do it and 39 months. It's a premium ESV and invoice is $70k. Anybody have insight?

 

[ONE-A-DAY]

Thank you for the replies. Here's what it boils down to which is why I asked in the first place, I'm trying to get my payment to $840 and the dealer says I need $8k down to do it and 39 months. It's a premium ESV and invoice is $70k. Anybody have insight?

840 is pretty high considering the $8000. my wife's Mercedes ml350 was msrp $67k we gave then $4000, payments are $569 for 36 months with 15k a year miles. Friend is the dealer and we leased the car at dealer invoice cost.

How many miles a year is the lease?


MedicalPlanQuotes.com / IPhone

 

[relaxalot]

Lease = Fleece

Don't do it. Buy a used Escalade, Denali, Suburban. Save your money for a something really stupid like a new boat...

I leased one vehicle. I will never do it again. Live and learn.

 

[ONE-A-DAY]

I lease a new camry for work every three years, I get the lowest annual miles, 10,000, 0 money down, drive the shit out of it, roughly 60-70,000 miles, i buy it when the lease is done, and then sell it for more than the buy out. Works great if it's the right car.


MedicalPlanQuotes.com / IPhone

 

[pronstar]

840 is pretty high considering the $8000. my wife's Mercedes ml350 was msrp $67k we gave then $4000, payments are $569 for 36 months with 15k a year miles. Friend is the dealer and we leased the car at dealer invoice cost.

How many miles a year is the lease?


MedicalPlanQuotes.com / IPhone

The difference is depreciation, methinks.
Escalades have worse depreciation than the M-Class, though neither are great in this regard.

Also, we need to know the money factor of the lease offer on the Escalade, it may not be that great.


2 Tapatalk 1 Cup

 

[TOBTEK]

The difference is depreciation, methinks.
Escalades have worse depreciation than the M-Class, though neither are great in this regard.

Also, we need to know the money factor of the lease offer on the Escalade, it may not be that great.


2 Tapatalk 1 Cup

THATS THE KEY right there. The price of the vehicle has less to do with it, Vrs the depreciation of the vehicle. Just leased a brand new RX350 Lexus for my wife for 291.00 a month plus tax with not much cash. The Escalade depreciates like a rock!
Leases are great ..... IF you know how to work the numbers. Get the most car/truck for as cheap as you can. get a cheap money factor on a factory supported leasing program. Also just leased a new Tundra the money factor is 0.00025 which is apx 0.60% interest.
Some also do not know the upsides to luxury vehicle leasing.....
you only pay sales tax on your monthly payment on a lease. IF you buy the car/truck you pay ALL the sales tax upfront. How much of that sales tax do you get back when you sell the vehicle in a few years??? NONE.
HUGE financial risk on high end vehicles when purchasing.... one being, future value of the vehicle. On a CLOSED END lease the bank states what the vehicle will be worth at the end of term. IF said vehicle isnt worth that stated future value.....give it back. BUT if you have equity at lease end, its yours.....win win deal for the client. IF that car you purchased gets hit or damaged.....whats it going to be worth with a jacked up Carfax??? WAY less then a car that hasnt been wacked! Give that car back and run away. Have seen MANY customers with major equity in these Lexus leases since returning to the car biz. Not all leases are bad!

 

[RitcheyRch]

Same here. I now buy used vehicles.

Lease = Fleece

Don't do it. Buy a used Escalade, Denali, Suburban. Save your money for a something really stupid like a new boat...

I leased one vehicle. I will never do it again. Live and learn.

 

[FreeBird236]

I lease a new camry for work every three years, I get the lowest annual miles, 10,000, 0 money down, drive the shit out of it, roughly 60-70,000 miles, i buy it when the lease is done, and then sell it for more than the buy out. Works great if it's the right car.


MedicalPlanQuotes.com / IPhone

Been leasing a Camry or accord for the wife every three years since 1994, usually no down and under $280 a mon. with tax. Don't go over the 36,000 miles and take good care of them, drive in the old, drive out the new no questions asked, works for us. Doesn't work so well on a hi depreciation vehicle, which has already been stated.

 

[pronstar]

Lease = Fleece

Don't do it. Buy a used Escalade, Denali, Suburban. Save your money for a something really stupid like a new boat...

I leased one vehicle. I will never do it again. Live and learn.

Just because it doesn't make sense for you, doesn't mean leasing doesn't make sense for everyone.


2 Tapatalk 1 Cup

 

[PokerRun388]

Lease = Fleece

Don't do it. Buy a used Escalade, Denali, Suburban. Save your money for a something really stupid like a new boat...

I leased one vehicle. I will never do it again. Live and learn.

Lease's can be good for alot of people. Allows them to have a nice vehicle, w/o putting any money down(maybe they don't have the money), and they can drive it for several years w/ a low monthly payment. For me, it wouldn't be an option, because I would just pay cash.

Just because it doesn't make sense for you, doesn't mean leasing doesn't make sense for everyone.


2 Tapatalk 1 Cup

I agree.:thumbsup

 

[lakemadness]

Lease's can be good for alot of people. Allows them to have a nice vehicle, w/o putting any money down(maybe they don't have the money), and they can drive it for several years w/ a low monthly payment. For me, it wouldn't be an option, because I would just pay cash.

Lol. What kind of car can you purchase with monopoly money?

 

[PokerRun388]

Lol. What kind of car can you purchase with monopoly money?

Lol, just curious what kind of car/truck you drive?:hmm

 

[djunkie]

For me, it wouldn't be an option, because my daddy would just pay cash.

Fixed it for you.


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[PokerRun388]

Fixed it for you.


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[lakemadness]

Lol, just curious what kind of car/truck you drive?:hmm

You going to make me a cash offer?

 

[ultra26shadow]

Lease's can be good for alot of people. Allows them to have a nice vehicle, w/o putting any money down(maybe they don't have the money), and they can drive it for several years w/ a low monthly payment. For me, it wouldn't be an option, because I would just pay cash.





I agree.:thumbsup

Baller Do you also own 5th avenue and the waterworks? Do you also play candyland and chutes amd ladders?

 

[elcajones]

Good thread, I learned a little. I know financing in and out, but leases, and when they're appropriate has always stumped me.

 

[CornWater]

I lease a new camry for work every three years, I get the lowest annual miles, 10,000, 0 money down, drive the shit out of it, roughly 60-70,000 miles, i buy it when the lease is done, and then sell it for more than the buy out. Works great if it's the right car.


MedicalPlanQuotes.com / IPhone

Ditto, just leased a 2012 accord through biz for a grand down and 190/month. Will sell at end of lease and but another.

 

[PokerRun388]

You going to make me a cash offer?

Baller Do you also own 5th avenue and the waterworks? Do you also play candyland and chutes amd ladders?

Lol, I just never liked making car/truck payments. 02 Harley truck, 04 SVT lightning, 05 Focus, all paid in cash.. Lol, thats just me.

 

[kiethco]

You're buying a car for the dealership. If you have to lease it to get the payment affordable, you can't afford the car. I have an Avalanche, absolutely love it and my next vehicle will be a 3 year old Escalade version.

 

[pronstar]

You're buying a car for the dealership. If you have to lease it to get the payment affordable, you can't afford the car. I have an Avalanche, absolutely love it and my next vehicle will be a 3 year old Escalade version.

Your statement assumes that everyone who leases a car, does so because they can't afford to buy it.
That's simply not the case.

 

[djunkie]

Lol, I just never liked making car/truck payments. 02 Harley truck, 04 SVT lightning, 05 Focus, all paid in cash.. Lol, thats just me.

With financing rates being as cheap as they are why would anyone wanna pay cash for a new vehicle. Id rather keep the money in the bank. Now granted I couldn't afford to pay cash for my '05 Chevy HD I couldn't pass up the 0% financing I got. I just put enough down to get the payments where I was comfortable. Same went for my wife's Traverse we bought a little over a year ago.


Sent from my iPhone paid for with Union money.

 

[Turnup]

I've done many purchases in the past (a bunch from Jay), lots of leases, then swore it all off for all cash purchases of 2-3 year old cars and was happy for a while, then did a couple brand new high end car cash deals, but this time it's an Escalade. I can't compare leases of other brands in the past or the current leases you guys have that's why I was looking for anyone that has a current lease on an Escalade to compare with, and hopefully I get some good advice from Jay.

 

[Outdrive1]

With financing rates being as cheap as they are why would anyone wanna pay cash for a new vehicle. Id rather keep the money in the bank. Now granted I couldn't afford to pay cash for my '05 Chevy HD I couldn't pass up the 0% financing I got. I just put enough down to get the payments where I was comfortable. Same went for my wife's Traverse we bought a little over a year ago.


Sent from my iPhone paid for with Union money.

True, even at .9 or 1.9 for longer terms. The rates are excellent right now.

Some of the factory lease specials are also pretty hard to beat. Usually they are for specific models with specific trim packages. I'm going to guess if you go to Cadillacs website, a loaded Escalade may not have one of those specials. They may have a great finance rate or rebate however.

Most manufactures don't offer the special lease rates on the most desirable cars. Like the Raptor, or Vette, or M3/m5, etc., etc..

 

[djunkie]

True, even at .9 or 1.9 for longer terms. The rates are excellent right now.

Some of the factory lease specials are also pretty hard to beat. Usually they are for specific models with specific trim packages. I'm going to guess if you go to Cadillacs website, a loaded Escalade may not have one of those specials. They may have a great finance rate or rebate however.

Most manufactures don't offer the special lease rates on the most desirable cars. Like the Raptor, or Vette, or M3/m5, etc., etc..

Yep. I believe we got a 1.9 rate on my wife's car.


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[pronstar]

Most manufactures don't offer the special lease rates on the most desirable cars. Like the Raptor, or Vette, or M3/m5, etc., etc..

There's no incentive for them to offer incentives on low-volume desirable cars.

The best factory-subsidized lease rates are typically for high-volume desirable cars, the top sellers in their lineups. They need to keep the demand for these cars high, because the factory is making a ton of them.

So for Toyota, is would be a Camry or Corolla. For BMW, it would be a 3 Series or X5. For Mercedes, it would be the C-Class or E-Class, etc.


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[PokerRun388]

With financing rates being as cheap as they are why would anyone wanna pay cash for a new vehicle. Id rather keep the money in the bank. Now granted I couldn't afford to pay cash for my '05 Chevy HD I couldn't pass up the 0% financing I got. I just put enough down to get the payments where I was comfortable. Same went for my wife's Traverse we bought a little over a year ago.


Sent from my iPhone paid for with Union money.

All three of those I mentioned were used, demo type vehicles, w/ less the 15K miles. I've never bought a new car, and never will. I normally buy them 1 to 2 years old, with less than 15Kmiles, and at least 1yr factory bumper to bumper left. Seems like most cars/trucks have a factory 5yr/75 to 100K powertrain warrantly.

Why pay cash? Easy cuz I can, and I don't like wasting 200-500 bucks a month for 3 to 5 years.

 

[PokerRun388]

Your statement assumes that everyone who leases a car, does so because they can't afford to buy it.
That's simply not the case.

I agree. There's many reasons why people lease vehicles, its not always about money.:thumbsup

 

[ChevelleSB406]

At work and don't have time to read through all the pages, but I worked in sales and leasing at Renick Cadillac for quite a few years and would be more than happy to answer any questions. The payment doesn't sound out of whack with that much down, as in there is nothing screwy about the deal. Different manufacturers subvent rates and residuals differently so going MSRP to MSRP isn't a good comparison. MB and BMW will always have a lower lease payment it seems on the same MSRP as say Caddy, AUDI, Jag, etc. My friend is the internet sales manager still there. I can provide you his info if you would like a referral as well.
Regards,
Tom

 

[Tom Brown]

Lease = Fleece

Nonsense.

With regular financing, I'd struggle to qualify for a Malibu. With a lease, I can roll a CTS-V. Leasing is the best deal going. :thumbsup

 

[plaster dave]

At work and don't have time to read through all the pages, but I worked in sales and leasing at Renick Cadillac for quite a few years and would be more than happy to answer any questions. The payment doesn't sound out of whack with that much down, as in there is nothing screwy about the deal. Different manufacturers subvent rates and residuals differently so going MSRP to MSRP isn't a good comparison. MB and BMW will always have a lower lease payment it seems on the same MSRP as say Caddy, AUDI, Jag, etc. My friend is the internet sales manager still there. I can provide you his info if you would like a referral as well.
Regards,
Tom

I need your contact info. I am looking at a SRX

 

[BajaT]

Be patient, 2FORCEFULL will have one for sale!

 

[Hernando]

Leasing- It's all about the residual value. Rate is a factor, but the residual is key. The higher that is, the lower your monthly payment is.

Turnup- Shoot me a PM if you need a Cadillac referral. One of my best buds owns a dealer in OC. He's taken care of a few board members, including Froggystyle.

 

[whiteworks]

If you look around you can find 1 year old escalades (fleet returns) with 30K miles for roughly half the price of new and still under warranty, I know rynolds buick over in covina has a bunch of them sometimes.

 

[Deleted Account]

THATS THE KEY right there. The price of the vehicle has less to do with it, Vrs the depreciation of the vehicle. Just leased a brand new RX350 Lexus for my wife for 291.00 a month plus tax with not much cash. The Escalade depreciates like a rock!
Leases are great ..... IF you know how to work the numbers. Get the most car/truck for as cheap as you can. get a cheap money factor on a factory supported leasing program. Also just leased a new Tundra the money factor is 0.00025 which is apx 0.60% interest.
Some also do not know the upsides to luxury vehicle leasing.....
you only pay sales tax on your monthly payment on a lease. IF you buy the car/truck you pay ALL the sales tax upfront. How much of that sales tax do you get back when you sell the vehicle in a few years??? NONE.
HUGE financial risk on high end vehicles when purchasing.... one being, future value of the vehicle. On a CLOSED END lease the bank states what the vehicle will be worth at the end of term. IF said vehicle isnt worth that stated future value.....give it back. BUT if you have equity at lease end, its yours.....win win deal for the client. IF that car you purchased gets hit or damaged.....whats it going to be worth with a jacked up Carfax??? WAY less then a car that hasnt been wacked! Give that car back and run away. Have seen MANY customers with major equity in these Lexus leases since returning to the car biz. Not all leases are bad!

Exactly. My wife and the two minions are kinda hard on vehicles. I lease her a new one every three years. She likes it, I like it, hell the dog even likes it.

 

[Tom Brown]

If you look around you can find 1 year old escalades (fleet returns) with 30K miles for roughly half the price of new and still under warranty, I know rynolds buick over in covina has a bunch of them sometimes.

Used cars? How embarrassing is that? :thumbsdown

 

[PokerRun388]

I've always loved the factory 22s.

 

[plaster dave]

I suggest you call this guy. I just talked to him because of a referral from chevellesb406 and he just blew away the current deal I had worked out. :champagne::champagne:

Don Holthe
Internet Sales Manager
Renick Cadillac Subaru
714-323-5710

 

[whiteworks]

Used cars? How embarrassing is that? :thumbsdown

Not quite as embarrassing as driving around in some high end turd that depreciated damn near 50% the first year you owned it LOL

 

[jetboatmatt]

Hav'nt read the whole post so if someone has already said it sorry!! Buy a one to two year old one and save yourself 40 to 50,000 bucks!!! My buddy just bought one that is a 2010 with 38,000 miles for 39,000!! Fully loaded its perfect!!! Don't pay dealers shit total rip off!! JMO!!!

 

[throttle]

I used to lease new every two, worked out great for me at the time. My last two trucks I bought tho (been putting way too many miles on em to lease and dont run a biz on my days off anymore).

I'm just gonna say that dropping $8k cash seems like lots of dough (you won't see it come back to ya), I would prolly turn around a walk off.

 

[USCFAN]

Hav'nt read the whole post so if someone has already said it sorry!! Buy a one to two year old one and save yourself 40 to 50,000 bucks!!! My buddy just bought one that is a 2010 with 38,000 miles for 39,000!! Fully loaded its perfect!!! Don't pay dealers shit total rip off!! JMO!!!

He got smoking deal for 39k...

 

[V.O.R.F]

dude if you are leasing one for 8K down and 10K a year you are getting ripped off, and quite frankly you really cant afford it.

barring work vehicles, a monthly payment over 500 is a huge mistake.
wait a little longer, save some cash, put more down and just buy it.

 

[ShockwaveBobSquarePants]

Not quite as embarrassing as driving around in some high end turd that depreciated damn near 50% the first 10 minutes you owned it LOL

FIFY