I have a friend who has a 2007 Black Cadillac Escalade that has every option available that was offered (sun roof, navigation, back up camera, ac/heat seats, 21 inch rime, power everything etc). The sticker price was 66,000 on it. It has 15,000 miles. He is offering me to assume his lease for 700 per month with nothing down at all, and all I do is take it over the payments for 26 more months. He advised he put down 6000 when he leased it. It is mint and in perfect condition. I can drive it 700 miles per month without going over the allotted miles and that is no problem for me. Can anyone with knowledge on vehicle leases/pricing comment? It seems like a fantastic deal to me.
Thanks!!
2007-10-31 18:13:35 · 7 answers · asked by flafuncop 2 in Cars & Transportation ➔ Buying & Selling
Thanks for the comments so far. I understand about gas prices. I don't drive much and like the safety of a bigger vehicle for my family. I can cover it as I drive about 400 miles a month tops.
McD the reason I lease is cause I can deduct it for business otherwise I agree.
Chigga great answer. I felt its time to treat myself to something nice but..I don't know anywhere on the planet where you can own a 66,000 dollar car for payments under 700 a month for 26 months. If I bought it and financed it for that time I would have payments of like 1800 dollars a month..
Jules and LaJola....maybe you two should get together??
2007-10-31 19:29:18 · update #1
Well, it is no where near 85% of lease returns that have problems at turn in. How are you planning on assuming his lease? There are no longer and manufacturer lease rebates on 2007 Escalades and you will need a heafty down payment to get a 2008 for $700 per month.
2007-11-04 02:42:08 · answer #1 · answered by The Auto Evaluator™ 7 · 6⤊ 0⤋
Well why would you put anything down when he already has? It's not the best deal, I wouldn't go for it. I know it's not new, but you can get the old Escalade for basically the same 26 payments you're making now.
I had an Escalade for a bit...it wasn't bad, the gas isn't as bad as everyone says. It did the same milage as my G35 coupe, but of course I drove that car.
No, it's not a good deal, but if you can afford it, then make yourself happy. Life is too short.
2007-10-31 19:13:43 · answer #2 · answered by Anonymous · 1⤊ 0⤋
WOW!! it sounds Too good to be true!!!
DONT EVER LEASE! leasing is RENTING, and they will charge you for every nick and scratch. you MUST cover it with FULL insurance.
oh, Oil is trading at $95 a barrel today, this means gas will cost $4 a gallon in 3 months!
2007-10-31 18:23:28 · answer #3 · answered by mdcbert 6 · 3⤊ 0⤋
I agree with mdcbert with oil breaking new records daily there may lots of Escalades on the market soon.
2007-10-31 18:32:43 · answer #4 · answered by cimra 7 · 0⤊ 0⤋
JUST REMEMBER THAT 85% OF ALL PEOPLE THAT LEASE A VEHICLE WILL GET HAMMERED AT THE END BY THE DEALER.
2007-11-01 00:22:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋
$700 a month is NOT in MY budget!
2007-10-31 18:18:37 · answer #6 · answered by Anonymous · 0⤊ 2⤋
no
2007-10-31 18:21:19 · answer #7 · answered by LaJoya S 2 · 0⤊ 1⤋