By on January 22, 2014

2014-Cadillac-ELR. Photo courtesy AutoGuide.com

If you thought the $75,000 price of admission for ownership of the 2014 Cadillac ELR was too high, the luxury automaker may have another option for your consideration: A lease contract of $699/month with a few stipulations.

In order to lease the luxury plug-in hybrid — based upon the $34,000 Chevrolet Volt — you’ll need to either own or lease a GM product screwed together from 1999 forward. Next, you’ll need around $5,000 at signing for a lease that will last just 39 months. Then, you’ll have to deal with the usual tax-title-license-dealer fee-optional equipment gauntlet, plus whatever price the dealer sets for the whole thing.

Finally, whip out your magnifying glass and reading glasses: The fine print states that price of the ELR has an MSRP of $76,000, and that you can only drive a total of 32,500 miles before paying 25 cents per additional mile; if you were to average 13,476 miles/year — the national average, as it turns out — the additional 11,297 miles would total $2,824.25 over the limit.

If interested, you have until the end of January 2014 to sign the papers.

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55 Comments on “2014 Cadillac ELR to Lease for $699 a Month...”


  • avatar
    Lie2me

    Ooh, I’ll take two then

  • avatar

    That’s not bad- although I’d never lease a coupe unless it was CTS-V.

    Richers – REJOICE!

  • avatar
    shaker

    If my doctor tells me I have “X months to live”, then this will definitely be on my “bucket list”.

  • avatar
    photog02

    Based on the Volt you say? Like all the Lexus models based on the lowly Camry? Or almost every VAG product is based on a single platform? Why does this always come up when the ELR is referenced? This isn’t Cimmaron-level rebadging. That seems to be one of the few lessons they learned in rehab.

    That being said, this thing is crazy overpriced.

    • 0 avatar
      APaGttH

      Actually, the Lexus ES is now based on the Avalon – but it was based on the Camry forever.

      Lets not forget that Toyota got the Japanese Corolla, put the Camry hybrid drive train in it, chromed it up, and tried to pass it off as a Lexus. Thankfully they shot it in the head fast. On the other hand, Lexus didn’t try to price it at $76K or give it stupid lease rates (but I’ll happily sell you a Toyota Land Cruiser for $80K – that’s another story)

      Then there is the ILX vs Civic – but Acura seems hell bent to join Lincoln and Scion in the land of irrelevance – that is a different story in itself.

      Heck, the Volt is just a Daewoo – and no one will pay $20K for a Cruze.

    • 0 avatar
      koshchei

      It’s a legitimate antithesis to call it an electric Cimmaron. I think that the point of the jab is not the car itself, but the laughably insane price they’re asking for it — there just isn’t $75k worth of exclusivity there, particularly when you can tick off the same marketing bullets with a Volt, albeit in a less attractive package.

      $55k and it makes an argument for itself if it’s flawlessly constructed, but at $75k, it’s nothing more than a flat punchline told by a Botox-inflated Billy Crystal.

  • avatar
    thornmark

    From C&D:

    “75 grand for a tarted up Volt?!

    The Electric Cimarron.”

  • avatar
    Andy

    Well that’s one way to avoid range anxiety… limit their lease mileage…

  • avatar
    CoreyDL

    Yay door trim alignment!

    Also, it isn’t much of an extra cost to “own” a 99+ GM product. Plenty of those around for $1500. But that’s a stupid stipulation anyway when you’re dealing with this level of proposed customer. I bet Audi will lease you an R8 V10 without any other Audi ownership stipulation.

  • avatar

    It still stuns me that GM does not see the folly of this vehicle. $5k due at lease signing before fees and $699 a month buys some seriously nice vehicles and the ELR simply would not register on the radar, especially given it does not even come close in terms of performance to the only other electric vehicle competitor in that price range, the Tesla Model S. Guess we will see if the rest of the car-buying public feels the same way once the car actually hits dealerships.

  • avatar
    Conslaw

    Cadillac did a good job at making the ELR look like a Cadillac. Unfortunately, they did a better job at making it priced like a Cadillac. If you amortize the $5,000 up front payment and throw in taxes, the total lease cost is around $1.00 per mile depending upon the tax and license. You’d have to add gas, electricity, maintenance and insurance to get to the total cost per mile. Any way you look at it, you are going to pay more than twice the $.56/mile that the IRS allows you to deduct. According to Consumer Reports, the Toyota Prius has a 5 year ownership cost of $.47/mile, so if your employer reimburses you at the IRS rate, you are actually making money.

  • avatar
    crtfour

    Is their goal just to move as few of these as possible?! First a $76000 price tag and now stringent lease stipulations which include owning another GM vehicle? I’d rather take my business to the nearest Tesla dealer….wherever that may be.

    • 0 avatar
      sunridge place

      You don’t have to own another GM vehicle to lease an ELR…just need one to lease it at that price…the author did a very poor job explaining it.

      Like most OEMs, GM has a lease loyalty for $1k right now….so you would need to add 1k to the price if you don’t own/lease a GM vehicle right now.

      That said, I’m not on my way to get one either.

    • 0 avatar
      Blackcloud_9

      Couldn’t agree with you more “crtfour”

      I currently lease a Volt and I’m very happy with it. And when GM said they were coming out with the Caddie ELR I thought it was a great idea.

      I could easily see a 50k price tag on this car, perhaps even 60 – but 76?
      I guess Cadillac is trying to this car exclusive but at that price it’ll be so exclusive they’ll only sell about twelve of them.

  • avatar
    Rod Panhard

    I can think of a lot of fun cars I could flat-out own for $5k and $699 per month….

  • avatar
    VenomV12

    Already seen them on the road and at the auto show last weekend, not impressed. If you pay $75K or lease this for the almost $900 a month that this lease deal is you are on crack. This is not even a $50K car. I assume this will be the same lease though for the new Escalade which is good, that is acceptable.

  • avatar
    rpol35

    “If interested, you have until the end of January 2014 to sign the papers.”

    No, I’m not but thank you.

  • avatar
    APaGttH

    Fail. $76K is too high given the drive train is just tweaked. It looks great, but for $76K there are way too many options – if you want a GM coupe $76K buys an AWFUL LOT of C7 Corvette. If you want a coupe period, $76K buys you an awful lot of coupe period.

    The lease deal is awful when you look at his clinically.

    Elon Musk is going to have some AWESOME tweets around this.

    Despite all this hater-ade, they’ll call this success despite limited numbers saying this was a pilot, proving it out, great lessons learned, etc. etc.

  • avatar
    PrincipalDan

    More fine print: Void were restricted or prohibited by law, must take delivery from dealer stock, customer must part their hair to the right on day of sale, must be a car carrying member of the USGA and have a handicap under 10

    • 0 avatar
      APaGttH

      Not valid in Wisconsin and Hawaii, millions will enter, few will win. For odds, a full list of rules, and an autographed picture of Lutz, please send a SASE to:

      Overpriced Electric Cadillac
      ELR Lease Insanity 2014
      PO BOX 732547
      Walla Walla, Washington 98235

  • avatar
    Kyree S. Williams

    That really isn’t bad, especially because this would actually be someone’s weekend toy; the prospective customer for the ELR would already have a primary car.

    • 0 avatar
      APaGttH

      I don’t know if I agree that this is a weekend toy. This isn’t a Tesla Roadster, although the Volt gets high praise for handling and braking dynamics, this isn’t a “sports” car by any definition. You’re not going to track day this for giggles because you have more money than sense, and for $76K I don’t see Chip and Muffie rocking an ELR – even at $699 a month.

    • 0 avatar
      mcs

      >> the prospective customer for the ELR would already have a primary car.

      Why would a customer for an ELR already have a primary car? But hey, if someones idea of a good time on the weekend is spending $70k for a coupe that would lose a drag race to a Spark Electric, so be it. I suppose I’m unusual, my idea of a weekend car would be a $57k C7 convertible – or maybe a Mustang convertible, and an eco-mobile for commuting. I know, it’s backwards thinking.

      • 0 avatar
        Kyree S. Williams

        It’s a novelty item for people that want something that’s different in both style and powertrain, and I don’t believe Cadillac advertises it as anything but such. It really doesn’t justify itself, but it at least allows GM to build enough of a profit onto a Voltec-powered vehicle, as I believe the Volt is still a loss-leader. And I’m sure Cadillac will get its expected (low) number of takers. Now at this price-point, I would definitely be ordering a Tesla, or if I wanted something more conventional, the Audi A7…but at least this ELR is an option for well-to-do people…

  • avatar
    danio3834

    I saw one in person in a parking garage yesterday. It’s a nice looking car inside and out. Maybe what Cadillac really needs is cars that cost more.

  • avatar
    TMA1

    $700 a month is a lot of money just to save some gas. Or it’s an interesting social experiment: How much are people willing to pay to show that they care about the Earth?

    • 0 avatar
      VenomV12

      It is not $700/month, it is almost $900. I even mentioned it above. That $5,000 down is not magic money. Add in tax and you are knocking on $900/month. Also there is no mention as to whether this is a GM employee only lease deal.

      • 0 avatar
        TMA1

        You’re right – that just makes the lease look even worse. My main point being, that costs like this make no sense in an eco-vehicle, so the only appeal must be for eco-snobs.

    • 0 avatar
      Kyree S. Williams

      Again, I don’t think that GM is trying to make Cadillac appear green, or even to sell a “green” car. I think it’s about GM trying to eke some kind of profit out of the Voltec powertrain, since the Volt loses money on a per-unit basis. And, unlike the pig-in-lipstick that is the current Escalade, at least the ELR is decked out in world-class interior materials and features, and looks good in its own right.

  • avatar
    Pch101

    Headline: GM Wants to Sell ELRs, Not Lease Them

  • avatar
    Conslaw

    $76,000 is Tesla Model S money. (Low-end Model S, but still . . . )

    • 0 avatar
      krhodes1

      On the other hand, this WILL go more than 200 miles at a time. Or whatever the low-end Tesla can do on a charge. Not NEARLY enough for me. But as much as I like efficiency for it’s own sake this is too much for too little. Of course to me a Tesla is WAAAY too much for WAAAY too little.

  • avatar

    halo effect is one thing, pale shadow another.

  • avatar
    pragmatist

    Some years ago my boss wanted to take a family road trip to Florida. He had this really nice leased Audi, but rented some SUV because he couldn’t put more miles without penalties. It was actually CHEAPER to rent the SUV.

    Leasing sucks.

    • 0 avatar
      Power6

      NEWSFLASH, Man who doesn’t plan ahead for needs pays for rental car. Other guy performs full buy vs. lease analysis based on incomplete information and makes sweeping general statement, film at 11

  • avatar
    ravenchris

    This is perfect for the guy with six McD franchises, just another item in the expense column.

  • avatar
    Avatar77

    If I recall, GM was (at least initially) spending about $80,000 to build a $40,000 Volt. So I guess they are just pricing the ELR such that they’re not actually losing money on it. Unfortunately, that price is unrealistic and they will lose money from selling far too few of them to recoup their investment. It’s a shame because I think a $50,000ish ELR would have been an attractive option to people looking for an EREV with a high level of luxury. The interior on the ELR is a step up from a Tesla, which despite its WOWZER huge touchscreen simply does not feel particularly premium.


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