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Financing

vblkwng

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2022 CT5-V Blackwing
Leasing defeats a core reason for getting the car, in my opinion.. A luxury car with a monster V-8 and a manual transmission? They won't be making those forever, as automatics and EVs continue to become more prevalent. Get it now, while you can. All of which is another way of saying: I'm betting a BW with a manual will hold its value well, relatively speaking, over the long haul. I'm not saying it will be collectible or I'll make money, not counting on anything like that (although that would be nice). But I do believe that broad market trends will provide a bit of a tailwind; depreciation won't be as bad as, say, that leasing residual table shows. Gotta own to take advantage of that.
Yea, agreed. That's why I am buying, but people were curious so I gave them answers. This car is not a lease type of car.
 

Davel518

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Boca Raton, Florida
V-Series Cadillac(s)?
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Yea, agreed. That's why I am buying, but people were curious so I gave them answers. This car is not a lease type of car.
Agree with these points. Especially the residual table feeling way off. But there's something to be said for the lease if we're all off on how this holds value (say gas goes to $10/gallon). If it's higher, just buy it out at the resid price and you're in a similar spot as if you just bought to begin with. Of course there are transaction costs and I assume the money factor is higher than 2-3%.

Just playing devils advocate. I will almost surely buy.
 

bloominguez

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Atlanta, Georgia, USA
Agree with these points. Especially the residual table feeling way off. But there's something to be said for the lease if we're all off on how this holds value (say gas goes to $10/gallon). If it's higher, just buy it out at the resid price and you're in a similar spot as if you just bought to begin with. Of course there are transaction costs and I assume the money factor is higher than 2-3%.

Just playing devils advocate. I will almost surely buy.

Another possibility, just thinking out loud: Gas goes to $10/gallon and yeah, in the short term, maybe these cars don't hold their value like I believe they will. However, $10/gallon gas would surely hasten the move towards EVs .... and then this truly is the last of a dying breed. In 10-20 years values recover and then some. :)

Having said all that, I've never leased a vehicle so I don't know the rules. If the lease entitles you to buy the car at the residual value (YOU have the option at that pre-determined price), then I can see how leasing wouldn't be so bad, either. Basically, if you make a good vehicle choice then it doesn't matter so much whether you buy or lease.
 

vblkwng

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Henderson
V-Series Cadillac(s)?
2022 CT5-V Blackwing
Another possibility, just thinking out loud: Gas goes to $10/gallon and yeah, in the short term, maybe these cars don't hold their value like I believe they will. However, $10/gallon gas would surely hasten the move towards EVs .... and then this truly is the last of a dying breed. In 10-20 years values recover and then some. :)

Having said all that, I've never leased a vehicle so I don't know the rules. If the lease entitles you to buy the car at the residual value (YOU have the option at that pre-determined price), then I can see how leasing wouldn't be so bad, either. Basically, if you make a good vehicle choice then it doesn't matter so much whether you buy or lease.
You are correct, at the end of a lease you can buy for the residual value on the lease.
 

AthenaBwing

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San Diego, CA
V-Series Cadillac(s)?
2022 Cadillac CT4-V Blackwing
The lease options do look very steep. I was only looking to see what the residual value is and I'm very surprised they are accounting for that much of a loss on cars like these. I'm definitely financing but I shouldn't get hit that hard since i got the 4
 

vblkwng

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2022 CT5-V Blackwing
I'm more fascinated by the residual. A $100+K car is only worth $54,000 after 39 months? Wouldn't you think more since everyone wants one? I mean, that's almost a 50% loss. Seems steep to me.
The CTS-V3 was similar. At the end of the lease car is usually worth 10k+ more
 

vblkwng

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2022 CT5-V Blackwing
The lease options do look very steep. I was only looking to see what the residual value is and I'm very surprised they are accounting for that much of a loss on cars like these. I'm definitely financing but I shouldn't get hit that hard since i got the 4
I think it's standard though. The previous generation was the same way
 

BenBaad

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Mar 7, 2021
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Arizona
V-Series Cadillac(s)?
2022 Cadillac CT5-V Blackwing
Looks like I’m gonna try NavyFed or PenFed tomorrow. USAA didn’t approve me for sh*t 😒. PenFed is only up to $100k though, so I’d have to put $19k down.
 

vblkwng

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Henderson
V-Series Cadillac(s)?
2022 CT5-V Blackwing
Looks like I’m gonna try NavyFed or PenFed tomorrow. USAA didn’t approve me for sh*t 😒. PenFed is only up to $100k though, so I’d have to put $19k down.
I was denied at Chase, but approved at NavyFed. I don't think anyone else can touch NFCU rates.
 

Scalarrthu

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Jun 2, 2021
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Las Vegas, NV
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2022 CT4-V Blackwing
Called my CU earlier this week and they got me at 2.74% for 72 months, and that's good enough for me.

I thought it was funny that they didn't even care what kind of car it was...just asked me how much money I wanted and approved it. I'm starting to think I should've asked for more 🤣
 

BenBaad

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2022 Cadillac CT5-V Blackwing
I was denied at Chase, but approved at NavyFed. I don't think anyone else can touch NFCU rates.
My friend is pushing me towards PenFed, but like I said, having to put down $19k right now is not ideal for me.
 

AbsurdBuffalo

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Jul 14, 2021
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Idaho
V-Series Cadillac(s)?
2022 CT5-V Blackwing
Called my CU earlier this week and they got me at 2.74% for 72 months, and that's good enough for me.

I thought it was funny that they didn't even care what kind of car it was...just asked me how much money I wanted and approved it. I'm starting to think I should've asked for more 🤣
Take your pre-approval letters in to the stealership and tell them you'll finance with them if they get you a lower rate.

I ended up with 1.72% for 72 months doing this (my pre-approvals were around 2%).

But then again, this only matters if you plan to let it go to term. If it's paid off in a year or two, that extra little bit of % doesn't really matter.
 

vblkwng

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Messages
261
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Henderson
V-Series Cadillac(s)?
2022 CT5-V Blackwing
Take your pre-approval letters in to the stealership and tell them you'll finance with them if they get you a lower rate.

I ended up with 1.72% for 72 months doing this (my pre-approvals were around 2%).

But then again, this only matters if you plan to let it go to term. If it's paid off in a year or two, that extra little bit of % doesn't really matter.
Dealer told me that was basically the best rate I could get they believe (2.29 from NFCU)
 

AbsurdBuffalo

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2022 CT5-V Blackwing
Dealer told me that was basically the best rate I could get they believe (2.29 from NFCU)
Then tell them if the % can't be beat, you'll go with your pre-approval. They'll either let you do it, or they'll double back around and 'because they are good guys, I managed to talk my finance manager into a deal that'll get you a lower rate if you finance through us' lol

If they want the finance $$, they'll find a way to be competitive

But then again, .5% might be splitting hairs for anyone's specific situation, and it may not be worth the hassle. Depends on you. Realistically, I think it would be difficult to get anything lower than 1.5-1.7% right now.
 

CT4-V Blackwing

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Then tell them if the % can't be beat, you'll go with your pre-approval. They'll either let you do it, or they'll double back around and 'because they are good guys, I managed to talk my finance manager into a deal that'll get you a lower rate if you finance through us' lol

If they want the finance $$, they'll find a way to be competitive
Mine let me walk with the car after I told them that they would have to significantly beat my pre-approved rate (2.19@60) from my credit union in order to offset the inconvenience.
 

AbsurdBuffalo

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Mine let me walk with the car after I told them that they would have to significantly beat my pre-approved rate (2.19@60) from my credit union in order to offset the inconvenience.
Yeah, I suspect in that case they probably really couldn't beat it. Which is certainly an outcome or possibility.
 

vblkwng

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261
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2022 CT5-V Blackwing
Yeah, I suspect in that case they probably really couldn't beat it. Which is certainly an outcome or possibility.
I mean NFCU is well known for having unbeatable rates unless you get those special 0.9% deals.
 

Scalarrthu

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Jun 2, 2021
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68
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Las Vegas, NV
V-Series Cadillac(s)?
2022 CT4-V Blackwing
Take your pre-approval letters in to the stealership and tell them you'll finance with them if they get you a lower rate.

I ended up with 1.72% for 72 months doing this (my pre-approvals were around 2%).

But then again, this only matters if you plan to let it go to term. If it's paid off in a year or two, that extra little bit of % doesn't really matter.
Thank you, and I agree! But like you said, it won’t go the full term as I always pay extra, so that’s why I didn’t see the need to fight for a better rate (which probably wouldn’t be that significant) when it’s easier to just deal with my CU that has everything of mine already.
 

CT4-V Blackwing

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My wife and I just received Dear John letters from TD Auto Finance stating that they declined our application. We let the dealership run our credit but, they couldn’t even match our credit union’s rate. Right on the Dear John letter, it states that our credit score is 870 out of a possible 900. You didn’t decline me mother fuckers, I declined you! 🤦🏻‍♂️
 

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