There’s Never Been A Better Time To Lease A Cadillac Lyriq

The Cadillac Lyriq is a competent electric luxury crossover, but the competition is heating up with the launch of rivals such as the Acura ZDX. To remain appealing, the automaker has slashed lease prices considerably, with deals too good to ignore. CarsDirect reports that the 2024 Lyriq can now be leased for as little as $339 p/m over three years, with a $4,969 payment required at signing.

This works out to a total monthly cost of $477 p/m, undercutting the Acura ZDX by a few hundred dollars and only slightly more than the mainstream Honda Prologue. This deal has been calculated based on the Technology trim (MSRP $58,590) and an annual 10,000-mile cap. It also includes a discount for conquest customers trading in an EV from another brand.

Why Would GM Make The Lyriq So Affordable To Lease?

Cadillac’s appealing lease deals reflect the electric vehicle market. Demand for EVs (particularly expensive luxury cars) is waning, with customers opting instead for conventional hybrids and plug-in hybrids. In fact, Cadillac’s parent company, General Motors, has decided to invest in the latter and plans to bring several PHEVs to market by 2027.

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The Lyriq lease plan was $100 more expensive last month, although the initial amount due was $220 cheaper. Still, this works out to a $98 monthly savings, making the latest $477 p/m lease deal one of the most affordable ever applied to the Lyriq. If we compare it to last year’s deals, the electric crossover is 52% cheaper to lease – a massive saving for consumers looking for a deal.

52% Cheaper To Lease Than Last Year

CarsDirect reports that, a year ago, the Lyriq had a monthly lease payment of $859 and $4,919 due at signing, which works out to $996 p/m. That’s a massive difference compared to the latest $477 deal – a $519 (per month!) difference, to be exact. Certainly, if you were thinking of pulling the trigger on a new Lyriq, now is the time.

Related

New Cadillac Lyriq Dealer Update Improves Touch Controls

The software update includes improvements to the universal remote and glove box controls.

If leasing isn’t your thing, Cadillac also has incentives for those going down the finance route. Aside from low-interest finance from as low as 2.9%, the luxury brand offers $1,000 in down payment assistance, making things easier for customers. Still, you must wonder why GM is going to such great lengths to shift these vehicles. There’s a chance that the MY2025 Lyriq will receive significant updates, which means Cadillac may want to clear out the remaining 2024 inventory. As mentioned, sluggish EV sales could be the reason behind this, with the automaker attempting to drum up interest in any way possible. Whatever the cause, it’s time to take advantage of these deals, available until July 31.

Source:
CarsDirect