What is Cadillac Advanced Lease Protection?
When looking at Cadillac lease deals, one thing you should strongly consider is Cadillac Advanced Lease Protection to cover you and your vehicle. This is protection offered by Cadillac that is in addition to and beyond any warranty coverage offered on a vehicle. Advanced Lease Protection can extend beyond the duration of a warranty and keep you protected throughout the entire duration of your lease. Different things are covered by the terms of the Advanced Lease Protection, but all of them protect you and your vehicle while under contract.
In general, Advanced Lease Protection with any Cadillac lease deals you are interested in will cover different parts of your vehicle. For example, the protection includes breakdown coverage for your vehicle, as well as replacements for one set of front and rear brake pads/shoes and battery replacement. You also get unlimited replacements of headlamp bulbs, belts, and hoses for the duration of the Cadillac Advanced Lease Protection also features coverage for the electrical system, including fuses and interior bulbs. Other features include wheel alignment coverage, diagnostics coverage, and fluid replacement coverage, which is why the Advanced Lease Protection is so worthwhile and important.
What are Some Important Terms When Considering a Lease?
Cadillac lease deals can be a great way to experience the joy of driving a new Cadillac, but it is important to make sure you understand what is involved with leasing a vehicle. It is not the same as buying one, and there are some specific terms that you need to make sure you know.
- Sale Price – This is actually a term used in both buying and leasing a vehicle. It refers to the price of a car, which impacts what you will pay on a lease, but it is not the total cost you pay, like when you buy a vehicle.
- Residual Percentage – This is what the car’s value is predicted to be after the term of the lease. The higher the percentage, the less you pay on the lease since it is expected to be worth as close to the full sale price as possible at the end of the lease.
- Allotted Miles – This is the number of miles you are allowed to drive the vehicle each year. If you go over this allotment, you will pay a fee, so it is important to know what the allotted miles are and the charge for going over it.
- Money Factor – This is a value that basically indicates the interest you will pay on the lease over its term. It is not expressed as a percentage the way the APR on a loan is, but it is similar in that the lower the money factor, the lower the amount you will pay on the lease.
What Should I Look for in a Lease?
When considering available Cadillac lease deals, you typically want to make sure you pay the lowest amount you can for the vehicle. That means you want to find a lease deal that starts with the lowest sale price possible on the Cadillac you are interested in. Just like when buying a car brand new, if you can get a low sale price with a lease, you will start off with the lowest price to begin with.
From there, you want to look at Cadillac lease deals that have high residual percentages or values because this means your payments will be lower too. With a lease, you basically pay for the expected depreciation on a vehicle – so if you can get a low sale price and a high residual value, then the difference that you pay on the lease will be as low as possible. Finally, you want to get the lowest money factor possible so that your overall payments stay low. In other words, look for a low sale price, a high residual value, and a low money factor.
You should also look for allotted mileage that works for what you need and how much you expect to drive the vehicle. If you just plan on driving around town and know your mileage will be quite low, then this might not be a huge concern. On the other hand, if you tend to drive quite a lot each year or go on road trips, then be sure you get a lease with allotted mileage that works for you.
One final thing you should consider is something called “gap insurance” or “gap coverage.” This protects you in case something catastrophic happens to your vehicle while it is still under lease. For example, if your car is destroyed in a collision, your insurance company will only pay the estimated current value of the vehicle – if that is less than the total value, then you can be on the hook for making up that difference. With gap insurance, however, you are covered for this difference and do not owe a thing no matter where you are with your lease.
What Should I Avoid in a Lease?
One of the major things you should avoid when looking at Cadillac lease deals is a lease for an overly long time. In general, you want to find a lease for just a few years, usually only two or at most three years in length. Since you are basically paying the depreciation on a vehicle, the longer the term for a lease, the more of that you are paying, and the less value you get from your lease.
You should also watch for a high disposition fee on any lease agreement that you are interested in. The disposition fee is a fee that you pay when you return the vehicle at the end of the lease term. While you will usually find some kind of disposition fee on any Cadillac lease deals you are interested in, it should only be a few hundred dollars at most. Anything much higher than that is more than you should be charged and something to avoid.
Should I Lease or Buy a Cadillac?
Although this is really a question that only you can answer, there are a few things to consider that can help you figure out which option is right for you. In general, you should buy a Cadillac if you know that you want to own it for a long time rather than just drive it for a few years. You should also choose to buy a vehicle if you know you can qualify for a loan with low interest and good terms overall to make your payments as reasonable as possible. Finally, if you have the money to buy a vehicle outright without any loan, then buying a Cadillac is a great way to avoid long-term expenses such as interest on a loan or lease.
On the other hand, if you know that you only want to drive your new Cadillac for a few years before getting something else, then you should look at Cadillac lease deals rather than buying one. A lease will typically cost you less each month than a loan payment – so if monthly expenses are a concern, but you still want a new vehicle, then a lease might be right for you. A lot of our customers choose a lease for a company or business vehicle since the lease can be used as a business expense. Finally, if you have no interest in owning a car overall, then a lease is a great option.
Even More Reasons to Lease
Lower Monthly Payments
Without even taking the current Cadillac lease deals available at Frank Kent Cadillac into account, most consumers will tell you that leasing a vehicle provides them with the opportunity for lower monthly payments and the option for a lower down payment. That makes all the difference in the world when it comes to that all-important monthly budget, something we all need to watch for as we drive to and from wherever we’re going.
A Nicer Model
Cadillac lease deals also offer customers the opportunity to drive a very nice, high-end Cadillac model for a lower monthly payment than they would if they purchased it. While specific situations can vary depending on what you’re looking for, you could drive off the lot with a model of Cadillac that may not be completely realistic if you’re looking to purchase a vehicle outright. Having that wiggle room to lease will allow you a nicer model for a lower monthly payment. That’s a nice bonus indeed.
Drive Something New
Any of the Cadillac lease deals available from Frank Kent Cadillac also provide our customers with the opportunity to drive a model that’s right off the manufacturing line or one that hasn’t been out on the road for very long. You get to drive one of our Cadillacs during the early stages of its life, meaning you’re getting a new engine and all of the latest when it comes to features, comforts and luxuries that are all part of the Cadillac brand.
Warranties and Maintenance
Cadillac lease deals generally come standard with types of protection and care for our drivers, and that’s certainly the case with the models available for lease at Frank Kent Cadillac. Depending on which model you choose, you may be able to drive off with the manufacturer’s warranty, an extended warranty or some other level of protection. You may also get some help with oil changes and the like, and if something does go wrong for some reason, you can rest easy that we’re going to handle it for you worry-free.