At least compared to the outgoing 2020 model.
The all-new 2021 Cadillac Escalade is a huge deal for GM's luxury brand. Not only have its predecessors all been top sellers, but the Escalade nameplate and brand is incredibly strong. While the rest of the lineup's naming has switched to a combination of letters and numbers, the Escalade name isn't going anywhere. And to help kick things off right for the new fifth-generation model, the automaker is already offering attractive pricing, specifically for those interested in leasing.
CarsDirect has done some number crunching and arrived at an interesting discovery. Apparently, the 2021 Escalade can be leased for a mere $10 more per month than the outgoing 2020 model. The Escalade's online payment estimator shows a 2WD Luxury trim can be leased for $881 a month for 36 months with $7,080 due up front, which is really $1,078 per month when the two amounts are combined.
Meanwhile, the 2020 Escalade is being listed at $862 a month for 36 months with $7,429 due at signing, or $1,068 a month. There's your $10 difference. Okay, so why little difference? Because in some states, including California, the 2020 Escalade is eligible for a lease incentive worth $3,250 and an interest rate just a hair above 0 percent APR. The 2021 Escalade currently doesn't have a lease incentive and is based on a 5 percent interest rate.
But the main difference really comes down to residual value, often a key factor when deciding if a vehicle is worth leasing. You see, the 2021 model has a higher residual value of 65 percent while its predecessor is only 52 percent.
Furthermore, a new Luxury trim replaces the base trim for 2021 and it comes packing more standard features compared to the old unnamed base model. The new model also has an MSRP advantage that could help explain things.
However, the minuscule lease price difference does not transfer over to financing. For example, the 2020 Escalade is currently being offered with nearly $10,000 in savings, and that doesn't include any loyalty discounts. The current offers end on November 2.