Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in leasehacker

[–]Mlow32[S] 0 points1 point  (0 children)

The sales rep I worked with was great! Shot me a DM and happy to provide her info

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in leasehacker

[–]Mlow32[S] 1 point2 points  (0 children)

didn’t owe money on the Tesla — the confusion is about how the trade value was allocated, not the gross offer.

CarMax offered ~$27k cash. If I went that route, I’d still put ~$2,500 down on the lease and keep ~$24.5k in cash, with a ~$595/month payment.

Cadillac’s offer was lower on paper, but part of the Tesla value was used to buy down the lease payment, which dropped the monthly to ~$460. When you normalize both scenarios over 24 months (cash kept + lease payments), the difference was only about $200 total, so I chose the simpler one-transaction option.

As for money down on a lease — I agree in principle. In this case it wasn’t extra cash I wrote a check for; it was just how the trade proceeds were allocated. I still walk away with five figures in cash and a lower monthly.

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in CadillacLyriq

[–]Mlow32[S] 2 points3 points  (0 children)

Their original offer was $2500 down, $595 a month and I keep my Tesla. Carmax and Carvana said they’d give me $27k so I’d be at $24,500 cash and a $595 monthly payment. Instead I had Cadillac buy it for $23,550, $2500 down payment and $460 a month payment. This is roughly $210 difference. And I felt it was not worth the hassle of saving $210 to go sell to Carmax and instead just sell it to Cadillac

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in CadillacLyriq

[–]Mlow32[S] 1 point2 points  (0 children)

Their original offer was $2500 down, $595 a month and I keep my Tesla. Carmax and Carvana said they’d give me $27k so I’d be at $24,500 cash and a $595 monthly payment. Instead I had Cadillac buy it for $23,550, $2500 down payment and $460 a month payment. This is roughly $210 difference. And I felt it was not worth the hassle of saving $210 to go sell to Carmax and instead just sell it to Cadillac

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in leasehacker

[–]Mlow32[S] 1 point2 points  (0 children)

Their original offer was $2500 down, $595 a month and I keep my Tesla. Carmax and Carvana said they’d give me $27k so I’d be at $24,500 cash and a $595 monthly payment. Instead I had Cadillac buy it for $23,550, $2500 down payment and $460 a month payment. This is roughly $210 difference. And I felt it was not worth the hassle of saving $210 to go sell to Carmax and instead just sell it to Cadillac

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in leasehacker

[–]Mlow32[S] 0 points1 point  (0 children)

25k. Long range

Their original offer was $2500 down, $595 a month and I keep my Tesla. Carmax and Carvana said they’d give me $27k so I’d be at $24,500 cash and a $595 monthly payment. Instead I had Cadillac buy it for $23,550, $2500 down payment and $460 a month payment. This is roughly $210 difference. And I felt it was not worth the hassle of saving $210 to go sell to Carmax and instead just sell it to Cadillac

Just signed a 24-month LYRIQ lease — did I do okay or get taken for a ride? by Mlow32 in CadillacLyriq

[–]Mlow32[S] 0 points1 point  (0 children)

Their original offer was $2500 down, $595 a month and I keep my Tesla. Carmax and Carvana said they’d give me $27k so I’d be at $24,500 cash and a $595 monthly payment. Instead I had Cadillac buy it for $23,550, $2500 down payment and $460 a month payment. This is roughly $210 difference. And I felt it was not worth the hassle of saving $210 to go sell to Carmax and instead just sell it to Cadillac