Drive a CTS-V and a Platinum Slade for one low monthly house [SIZE=2]payment.
[/SIZE]BOOK by Cadillac will charge a tony monthly fee of $1,500 for access to Cadillac vehicles, beginning in the New York metro area ahead of other U.S. markets, without the obligation of leasing, financing or buying. Members need not sweat other onerous ownership responsibilities such as insurance or maintenance, either.
As examples of its flexibility, Cadillac suggests members could enjoy a high-performance Cadillac V-Series model for their weekday commute and switch to an Escalade large SUV for a ski getaway on the weekend. They also could choose to drive one model during the summer and another in the winter.[SIZE=2]
Good program for rich people, I guess. Leasing at least makes sense from monetary standpoint (pay off the depreciation). A few thoughts about comparing it to leasing a single vehicle:
maintenance costs in the first 3 years shouldn’t be much. Hell many manufacturers will even give you free oil changes. Tires should last 40-50k. Brakes should go about that long too.
Insurance in the NYC area is the biggie. But even if it’s $350/month, you should still be under $1,000/month.
So essentially you’re paying an extra $500/month for the ability to switch cars at any time. Maybe to some there is value in that. As a car person, I’d probably just buy multiple vehicles.
I kind of get it in NYC. Having multiple vehicles in the city is tough and having the option to grab an Escalade when you want the room or something more sporting when don’t you is a decent perk. It would be a lot better if Caddy had some really sporting/fun options along the lines of a 911 and/or Boxster spyder though. Drive the CTS-V to work during the week then grab a 2 seat convertible to rip around on the weekend, or an Escalade to take a road trip.
yeah, looks like the lease alone would be around $1k. really depends on resale value so I’m not sure. but on the caddy website, they have a cts-v sedan at 829/month with 5k down. so that would be around 1k/month with 0 down. Definitely makes more sense with those numbers.
This is a pretty interesting idea and the price isn’t THAT far off.
an ATS-V or Escalade ESV lease in Ontario is $1,200+ with $0 down. Insurance will be another $200+ a month.
$1,500 usd is about $2k cdn per month… so yeah, you’re paying an extra $500 a month which is a lot for a regular person but not much for an exec or playboy dude. If you have 3+ cars this would be worth it since you can have fewer leases / vehicles
If they brought the price down to maybe $100 - $200 more per month vs. a lease i think it makes pretty good sense in many cases. And if you are a business with multiple arrangements like this i bet you could bring the cost down to that or even below the lease costs if you had 8+ of these arrangements.
Its a good deal. CTS-V is 88k with no options, nothing down 4yr lease $1066 excellent credit, Platinum Escalade starts at 95K, nothing down 4yr lease $1289 then add tax, plates, insurance. Shitty credit and that will be a lot higher. For the price of one car you get 2 and don’t have to worry about anything, tires, brakes, oil changes. This is all from Cadillac’s website, some reason I couldn’t select 3 year lease.
Good luck getting a 50k+ vehicle for less than $500 a month with nothing down. The deals you see on tv for $350-$450 are with a bunch of money down.
I wonder how this would be billed as viewed for tax purposes in regards to business. For leases, you usually need to claim total mileage utilization for business versus total utilized miles less a penalty for luxury vehicles over certain monthly payment thresholds. Does this even qualify as a lease though? It’s more or less a car sharing service as the vehicle isn’t registered to you. If this could be straight deducted as a travel expense including insurance for $1,500/mo, I’d be listening. I’m not an accountant though.