I am about to take over the remainder of someone's GMAC lease on an '07 CTS base model, at $275/month after a modest up front transfer fee. The remaining lease term provides 1,000 miles per month. The car is in as-new condition with 13k miles - it has had only two oil changes, and they were by the dealer.
Since I have never leased a car before, and have never had a Cadillac before, some questions have arisen.
- Does this deal make sense for someone who drives about 1k miles per month?
- What is the typical deal at the end of a lease term? How can I estimate the price if I wish to buy the car, and how can I estimate the new lease payments if I decide to continue driving it under the lease?
- What are the weakest areas in modern Cadillac cars in general, and in the 07 CTS in particular.
This is a base model car with a 2.8L V6, few whistles and no bells - just right for me!
Thanks!