When Stars Align: Cadillac Lyriq Buyer Scores $16,500 Discount

Perceived as a direct rival for both Model Y and Model X, Cadillac's Lyriq exists to steal market share from Tesla (and Ford and maybe even from other brands such as Mercedes-Benz or Audi), to prove that General Motors has a great recipe for zero-tailpipe emission rides with the Ultium platform, and to show that an old dog can learn new tricks without risking bankruptcy.

If you're not familiar with the Lyriq, then here are a couple of details that you might find handy when comparing it to direct or indirect rivals.

The stylish SUV with an imposing front end measures 196.7 inches in length (almost five meters) and is longer than the Model Y by 9.3 inches (236 millimeters).

The Caddy is only 2.4 inches (61 millimeters) shorter than the Model X. However, it provides more legroom for those sitting in the front (44.3 in vs 41.1 in) and those sitting in the second row (39.6 in vs. 38.7 in). Not setting it up to have a compromised third row really helped maximize the interior room. The Lyriq has a wheelbase of 121.8 inches (3,094 millimeters).

Moreover, the Ultium moniker isn't just a marketing tool. The automaker strived to reach a 50/50 weight distribution.

When writing, prospective buyers have three trims to choose from:

• Tech – starts from $58,590 in rear-wheel-drive form and goes up to $62,090 when all-wheel drive is chosen;
• Luxury 1 - starts from $62,690;
• Luxury 2 - starts from $66,990;
• Luxury 3 – starts from $70,590;
• Sport 1 - starts from $63,190;
• Sport 2 - starts from $67,490;
• Sport 3 - starts from $71,090.

Weirdly, Luxury is the middle level of equipment, even though it includes a lot of features.

All Luxury and Sport variants mentioned above come with only one motor that puts out 340 hp and 325 lb-ft of torque. Adding another drive on the front axle (and, subsequently, "activating" all-wheel drive) costs $3,500 and ups the maximum power figures to 500 hp and 450 lb-ft of torque. The Sport versions don't get a power bump.

Lyriqs made in 2024 qualify for the full federal EV tax credit of $7,500. Just make sure you're eligible for this perk.

The customer we told you about earlier chose a full-loaded, all-wheel-drive 2024 Cadillac Lyriq Sport 3 that had an MSRP of $74,590. It's worth noting that this trim includes things like adaptive cruise control, adaptive headlights, a high-definition 360-degree camera system, heated, power-folding and -adjustable auto-dimming side mirrors, 22-inch wheels, and a 19-speaker sound system.

The vehicle arrived at the dealership with a $1,000 discount already applied to the MSRP. However, the buyer managed to obtain the following:

• $7,500 as the federal EV tax credit;
• $3,000 from the dealer;
• $3,000 for trading in a Tesla (aka the "conquest" discount);
• $1,000 for being an employee of a GM supplier;
• $1,000 from GM Financial;
• $1,000 for being a Costco member.

In total, they obtained $16,500 in discounts that applied to the MSRP of $73,590. So, their Lyriq ended up with a pre-tax price of $57,090.

They also traded in an old 2017 Tesla Model S and received $21,500 for it. Ultimately, their all-wheel-drive Lyriq cost $35,590, which is $12,400 less than what Tesla charges for the Model Y Long Range.

Believe it or not, there's more. The new Cadillac owner says on Reddit that they are going to save an extra of almost $1,500 on the sales tax because their state offers a reduced rate to certain EV buyers.

If you want a Lyriq as well, remember that Cadillac, unlike Tesla, Rivian, or Lucid, is still selling these EVs through dealerships. Some salespeople might not be up to date with the recent EV tax credit rules. You may have to tell them that the eSUV fully qualifies for the federal perk.