2014 Cadillac ELR Lease Deal Announced, Early Buyers Get Free Home Charger

2014 Cadillac ELR

As an incentive to the first 2014 Cadillac ELR customers, Cadillac will provide a free 240-volt charging system and complimentary home installation. For those who prefer a leasing option to the ELR’s lofty $75,995 starting price, Cadillac also announced it is offering an ultra-low-mileage lease (which Cadillac says is about 12,540 miles per year) included with the same extended warranty for the lithium-ion battery.

The 2014 Cadillac ELR, powered by a 1.4-liter turbocharged four-cylinder engine and dual electric motors, can be charged via the fast-charging 240-volt home unit in about 4.5 hours. As an alternative, customers can also use a regular 120-volt electrical outlet to charge the ELR’s 16.5 kWh battery pack. The 2014 Cadillac ELR can travel approximately 38 miles on solely electric energy, and has a total range of 340 miles using hybrid power.

Cadillac also revealed that customers who want to lease the plug-in car for 39 months will pay $699 per month with $5,999 due at signing. Leased 2014 Cadillac ELR models will cost at minimum $33,260 over the lease period, according to these figures, compared to the vehicles $75,995 cost of outright ownership (including delivery). However, lessees are not eligible for the federal and state tax breaks that can take as much as $7500 off the cost of a new ELR. Buyers worried about the longevity of the battery technology can take solace in Cadillac’s eight-year, 100,000-mile propulsion warranty. The warranty comes with all ELR models, whether purchased outright or leased.

Although the 2014 Cadillac ELR shares its plug-in hybrid powertrain with the significantly more affordable Chevrolet Volt ($34,995 including delivery), the ELR comes with a long list of luxury features, sexier coupe styling, and almost 40 percent more horsepower. Furthermore, the ELR comes well-equipped in standard trim, with a short list of additional options compared to others in the luxury marketplace.

The 2014 Cadillac ELR is on sale now.

Common Sense
"However, lessees are not eligible for the federal and state tax breaks that can take as much as $7500 off the cost of a new ELR."
Wrong.  If you're writing an article, at least do your research and don't make outlandish assumptions.  See the IRS site describing how the credit applies to both purchases and leases: http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-(IRC-30-and-IRC-30D)

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