The Word is Out! The 2008 CTS is a Hit!

Not only is it a hit, it's a 4 RBI HOMERUN! This is easily the best sedan Cadillac has built in 50 years! The way it drives, the engineering detail, not to mention down right gorgeous looks of this automobile are truly impressive. The automotive mag editors that can't bring themselves to even look at a domestic vehicle, can't take their eyes off it and give it the praise it deserves! It's worth a trip into the showroom to take a closer look at this vehicle that will soon be struting on the local runways!

2008 CTS

I had the special opportunity to get a dealer preview and drive this car as well as the competitive models. Three words describe this CTS preview: WOW, Impressive and Beautiful! It is impossible to describe how unbelievably awesome this vehicle is, especially in this price range. It easily out performed and has more technology than cars twice the price!

Ø Adaptive Forward Lighting HID Headlamps
Ø Laser brazed joints and exposed edge glass treatments
Ø Cadillac distinctive LED vertical lighting
Ø Pop-Up, full-color LCD touch-screen Navigation System:
Ø State of the art Infotainment with 40GB Hard drive device
o iPod integration
o CD Cataloging
o Audio Buffering
Ø Interior LED ambient lighting
Ø Comfortable and Spacious Seating
Ø Available Direct Injection 304 horsepower engine & 6 speed Automatic Transmission Double Ø Five-Star and Side New Car Assessment Rating

Now is the time to buy!

As the model year is ending in the dog days of summer you can get the best deals of the year! Inventories must move out and new vehicles are here or on the way. You hear it all the time in the commercials because it really is true. Owners and managers are paying big dollars for excess inventory and they need the space for the new model year vehicles coming heavy from the factory. Incentives from the manufacturer are usually the best of the year to help the dealers deplete inventory and trade values are the best they will be for the remainder of the year. If you are looking for a bottom line deal now is the time before available models and your favorite color are gone or difficult to find. The most popular models go quickly this time of year!

If you prefer to own versus lease consider Certified Pre-Owned:

With the increase in leasing new vehicles many Pre-Owned Dealers such as ours are full of low mileage late model vehicles in excellent condition that we buy directly from the factory. As the #1 Certified Pre-Owned Cadillac Dealer in the Nation and Platinum Award Cadillac Dealer we have access to and purchase excellent condition vehicles from General Motors directly. In many cases you can find one or two year old Cadillacs and SUVs with low mileage and save thousands off new car prices. GM backs these vehicles fully with the balance of a 6 year and 100,000 mile full factory warranty which covers the vehicle completely. As a example the depth of coverage includes light bulbs, batteries, worn radio or instrument buttons without any deductibles. In many cases the certified warranty carries more coverage than even a new vehicle warranty. To become a Certified Cadillac the trade, lease turn-in or factory representative vehicle goes through a rigorous and stringent inspection process detailed below and most often the vehicle looks brand new!

Your Certified Pre-Owned Cadillac comes to you in impeccable condition, having been thoroughly inspected by trained technicians using a checklist of over 110 quality points as a guide. Brakes and tires must be over 50% wear life or will be replaced; fluids and engine parts are cleaned or flushed during the inspection process. You can enjoy your Certified Cadillac with complete peace of mind, because it also comes standard with a comprehensive Cadillac bumper-to-bumper limited warranty along with all applicable Cadillac Ownership Privileges. The Certification checklist and CarFax history report are included with the paperwork and are available for review before the sale. With the peace of mind also comes value as this warranty stays with the vehicle that stays with the car and is fully transferrable at time of trade or resale.

More Misconceptions about Leasing...

A lease consigns you to always making payments...
At the end of most leases, the contract entitles you to buy the vehicle at a set price. If you choose not to you can just walk away. Had you purchased the car you would still be paying 1 to 2 more years and would be in a position to having to sell the vehicle or trading it in at a price that may not meet your expectations. Generally most consumers stay in a late model vehicle until warranties run out or we just grow tired of the car we are in. In a leased vehicle your finance period is much shorter and you options to change to either upgrade, downgrade or stay in a similar vehicle that is brand new again much sooner than in a traditional finance.
There are additional expenses at lease end…
If all requirements concerning vehicle condition and mileage are fulfilled, there is no further obligation at lease end. You may simply turn it in and walk away, purchase the vehicle or lease another new vehicle. Every lender is different and it is important to read about the lease termination requirements for each lender.

'08 CTS the other half of the bookend.

The introduction of the redesigned '07 Escalade has redefined Cadillac's position in the luxury SUV market. The '08 CTS will do the same in the entry level luxury sedan market. This revolutionary automobile will be available in the fall of this year and will dominate this market segment. In Cadillac's bookend strategy of the large SUV market and the luxury sedan market, the CTS will be a phenomenal automobile and the buzz has already started. The ’08 CTS is a superb combination or performance, design and luxury. Take a look on the Cadillac site http://www.cadillac.com or the blog conversations about the car http://cadillac.gmblogs.com/.
Photos of the car on worldcarfans website; http://www.worldcarfans.com/photos.cfm/photoID/3070109.001/country/acf/cadillac/2008-cadillac-cts

More misconceptions about leasing.

In spite of surging popularity, numerous misconceptions about vehicle leasing remain:

MISCONCEPTION#1: Leasing a new car costs far more than buying it.

When you finance your car with a loan, you gradually build equity as you pay it off. The value of the vehicle may be considered equity only if the total amount you have paid on the loan, including your down payment, is less than its current market value.

E.g. $30,000 vehicle = $32,800 after tax, tags and fees with $2800 down financing $30,000 @ 7% for 60 months is $594 per month. So after 3 years you have paid $24,184. What the vehicle is worth has many factors but on average we will estimate 50% value = $15,000. The remaining payoff is $14256. By more than half way through the term of the loan you are in an equity position (possibly based on current market conditions on the vehicle). Depending on the type of vehicle the lease payment would have been half of the finance payment for 3 years and the end value is guaranteed in writing. $297 for 36 months with half the down payment =$12,092 paid out vs. $24,184 for the same car.

Today most drivers are ready to trade their vehicles long before paying them off. This makes the idea of building equity a false hope. Lease agreements guarantee the value of your car at the end regardless of market conditions. If it does happen to be worth more exercise your purchase option, sell or trade the car and keep the equity. If not simply turn the car in and pocket your savings. The value of the money saved from less or no down payment and lower lease payments during the life of the lease could actually be greater than the vehicles market value at the end of a conventional loan.

More to follow…

What cleaner or wax can I use on my car?

I get asked this question a lot and generally there is no absolute answer but here a few tips. The biggest mistake that owners make is going into a car wash that allows brushes or material to hit the surface of the car. Sand, grit and road grime are enemies of paint and particularly dark paints, which scratch, swirl and leave visible marks on the paint surfaces that can dull your finish. A great product is zaino wax finishes. I do not endorse many products but this is one of the best I've seen and used. They are on the expensive side but do the job very well. Check out their website.
http://www.zainostore.com
Everyone loves show cars. They're gorgeous! And, some of the special effects are nothing short of breathtaking. There's no reason you should have to wait for a car show to admire cars. Zaino engineers unique products for car enthusiasts, who believe that expense is secondary to results. Research and development in advanced molecular-chemistry has resulted in Show Car Polish™ products that offer the wettest-looking, clearest, deepest, and longest lasting finish in the industry. Best of all, Zaino Show Car Polish™ creates an award-winning finish without the use of abrasives or harmful silicones. If you want your car to look its best for many years to come, these products include the most powerful sun-block available in a paint protection system: UV-40. This polish is literally sunscreen for your car.

When is the right time to lease a new car?

Do you feel a little uneasy when a car dealer mentions leasing to you? Not so fast my friend. It's not the same as 20 or 10 or even 5 years ago. There can be drawbacks but in more than a majority of cases it is absolutely the right thing to do. Here are some thoughts that hopefully will clear the air on this issue when purchasing a new car. A lot of information on leasing is available on the web if you do some quick research. "I don't have a lot of money down and can't afford a big payment." It is often very affordable to drive a nice car and still keep a reasonable payment on a lease. Every vehicle and every manufacturer is different so it requires some research but it can save you a lot of money and you might be able to afford that dream car you want to drive.
Here are 10 things to consider when deciding.
1. "I hate the car buying process because I never know what my trade is worth." If you like to purchase a new car every two to four years and hate the hassle of dealing with a trade-in...you are a lease candidate. The end value of the vehicle you are buying is established and guaranteed up front in writing. When the lease matures you don't have to worry about your trade you just drop off the keys and get a new car.
2. "You always have to worry about the mileage on a lease." Yes mileage is a consideration but if you are consistent in the driving you do and have set a pattern over the years you can set up the proper mileage for the amount of driving you do. If you drive 1250 miles a month or 15,000 miles per year or less you are a lease candidate. There are penalties for going over allowed miles and you must be aware of these charges and how it may affect your personal situation. Even if you drive more miles than 15,000 a year you still may be a candidate but as the mileage increases the advantage decreases. If you are a high mileage driver you may want to consider a late model certified preowned vehicle with a high mileage factory warranty included. If you are a low mileage driver leasing has even more advantages because you only pay for what you use!
3. "I get tired of my cars and want another car now." If you keep financing and trading your vehicle and find yourself constantly "upside-down" (you owe a lender more than your trade is worth) and the problem gets worse...you are a lease candidate! People get into a poor situation by rolling negative equity into a new or preowned vehicle finance. It will take the full term of a 48-60 month finance to get out from under all the negative value. A lease term will be much shorter and by the end of the lease there is no longer any negative equity and you can start over with a clean slate.
4. "How long do I have to keep the car I am leasing and can I get out early?" If you are comfortable for two to three years with keeping the vehicle you are leasing...you are a lease candidate. Many people lease luxury cars because the payment is more attractive and you can get more car for the payment dollar. The financing term is usually much shorter than a retail finance (48-60 or even 72 month term) but since you are not paying fully to the bottom line to own the vehicle it is harder to trade out early.
5. Leasing is a financing option that lets you pay for the portion of a vehicle you expect to use over a specified term, plus a rent charge, taxes and fees. For example: you might want a $40,000 vehicle. And that vehicle might be worth about $22,000 at the end of your lease (residual value). If you purchase the vehicle using traditional financing, your monthly payments will be based on the entire $40,000 value of the vehicle, plus a finance charge, and you will own the vehicle at the end of your financing term. However, if you lease the same vehicle, your monthly payments will be based on the amount of the vehicle you expect to "use up" over the lease term, plus a rent charge, taxes and fees. This value ($18,000 in our example) is the difference between the original cost ($40,000) and the estimated value at lease end ($22,000). With leasing, you can get affordable monthly payments, a new vehicle more often, more vehicle for the money, and no resale or trade-in hassles.
6. "What's the difference in payment on the same car?" Compare the payments on a retail finance vs. a lease payment. As an example the BOSE Edition CTS Cadillac is offered now at $299 per month for 39 months with $3000 due out of pocket at lease signing plus tax, tag and the dealer fee. In calculating a good credit finance on the same car and the same amount due at signing the payment would be $1007 for 36 months, $788 for 48 months or $657 for 60 months. Your commitment in time is less and the payment is obviously less.
7. I trade my vehicle before the warranty coverage is over? Your warranty coverage is exactly the same whether you lease or purchase. Ask your Cadillac Dealer for limited warranty details. Is extra mechanical coverage available? Yes. A protection plan can be designed to provide a wide range of time/mileage coverages. For added convenience, an affordable vehicle maintenance plan, the cost of which can be built right into your lease payment.
8. What if the lease vehicle is stolen or totaled in an accident?
You're protected. GM SmartLease includes gap protection at no extra cost to you. It guarantees that if your vehicle is stolen and not recovered, or totaled in an accident and there is an insurance settlement, you are responsible for only the insurance deductible plus any unpaid fees, taxes, and amounts due.
9. "I don't own the car at the end." That is correct but you also have not paid the money necessary to own it. Keep in mind, with leasing you do not own the vehicle, you return it to your dealer at lease end unless you choose to exercise the purchase option as defined in your lease agreement. And let's think about what you do own if you finance the vehicle for 4 or 5 years. You have tied up your capital into something that is now out or close to being out of warranty and will cost more and more to maintain. After 5 years the vehicle is worth less than you think it is. Also you have tied up capital that you could keep, spend or make money on that is now tied in a depreciating asset. Like about 90% of the market after three to four years you're looking at all the new models on the street and being advertised and wishing you could be driving that new stylish car.
10. "I don't understand how a lease works." Many people don't but it is important to understand the contract and what is involved. Make an appointment to speak to a business finance manager at the dealer and any reputable dealer will be happy to sit down with you and fully explain the lease contract and the programs they offer before you even begin to go through the process of buying or leasing a car.

Buy a Cadillac in Tampa

This is a blog for people interested in buying a Cadillac or any vehicle. It is designed as a forum to retrieve information and discuss Cadillacs and vehicle purchases. Ed Morse Cadillac Tampa is part of dealer group that has been in business for over 50 years in the Florida market.