How to Lease a Cadillac

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Before you lease a Cadillac, you should learn everything you can about car leasing. It makes sense to lease luxury cars if you can make the payments, because the down payment on a lease is much less than on a purchase. Monthly payments are also lower, because they are based on 50 percent of the car's actual value, rather than on 100 percent. On the downside, once you have paid off your lease, you have to either give back the car, or pay even more to own it. But if leasing is right for you, follow the steps below to get the best deal possible

Things You'll Need

  • Credit score of 680 or higher
  • Valid driver's license
  • Proof of income
  • Figure out how much you can afford in monthly payments.You can use an online lease calculator to make sure you factor in any fees. Be realistic, because it is not easy to get out of a lease if you have trouble making the payments.

  • Look for private financing if your FICO score is above 700. Places like Primelease.com and others can often get you a better rate than the car dealerships are willing to offer.

  • Pick the year and model of Cadillac you want by shopping online or requesting a brochure from a Cadillac dealer. Learn as much as you can about the car, so you will know the manufacturer's suggested retail price as well as the average cost for any extras.

  • Go to the dealership and tell them exactly what you want. Do not let the salesman pressure you into anything, and write down the prices he gives you.

  • Go to at least one more dealer and see if they can make you a better offer. It is always best to shop around. Car salesmen are very competitive; if they know you are comparison shopping, they will be more likely to work with you.

  • Think about it overnight before you sign anything. Leasing a car is a minimum three-year commitment, so you need to be sure you are getting the deal you want.

Tips & Warnings

  • The more information you have, the better deal you are going to get.
  • Do not let a salesman put keys in your hand until you are ready to sign. They often pressure customers to take a car home for the night, because most people will then feel obligated to keep it.

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