2014 Cadillac ELR to Lease for $699 a Month
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.