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Hummer H3 Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Hummer H3. Thanks.

Car_man
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  • Anybody figure the residual value on a 3 year lease 12 to 15k miles a year. This would be one with leather, sunroof, adventure etc. Don't need the upgraded stereo, XM or chrome pack. Thanks
  • I would be happy to give you an idea of what the lease program is currently like on this truck, sb1234. If you were to lease a 2006 Hummer H3 through GMAC right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 7.75% and 62%, respectively. The lease rate for an otherwise identical lease with 12,000 miles per year would be the same, but its residual value would be around 64%.

    Car_man
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  • Car_man,
    What would the difference be for a 24 month lease?
    Thx
    Greg
  • Greg, GMAC's base lease rate would be the same for a 24 month lease of this truck, but its residual value would increase to 72%.

    Car_man
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  • Hi there.

    I am a real novice regarding leasing but I was interested in determining how a price would be generated on, say, a 24-month lease on an H-3 with pretty average mileage requirements. I live in Dallas, Texas. I simply have no idea of what this type of transaction might cost monthly.

    I am interested in plastering the H3 with splashy advertising for a book aimed at the college market and this seems like an ideal "vehicle" for that form of advertising.

    Best,
    Gunnar
  • Greetings Gunnar. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the H3 that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • Hi again Car Man.

    Went to look at the H3 and fell in love with a nicely maintained and fully loaded 2003 H2 (35,000 miles) after trying it on a lark. After a marathon haggling session of some 4 hours, I was offered what has been represented as a good deal. This used H2 has been totally tricked out with every conceivable chrome feature and accent including the chrome tow package and a nice borla exhaust system. Perfect interior, DVD/TV package, etc. Asking $36,350. Seems like a decent price but almost out of original warranty. Would love to hear your reflections on it, whether I should extend the warranty or let it ride as the salesperson suggests.

    My payments on a straight purchase on a 72-month term would be $684, nothing down.

    My sincere thanks and apologies for veering off topic.

    Gunnar
  • Hey Car Man- Can you tell me how much, approx a $38400 sticker H3 would run on a 12000 mile lease for 36 months vs. 24 months in Illinois? No money down.
    Thanks.
  • Hey gunnar_fox. I would be happy to answer any questions that you have about leasing a Hummer H2, but please post them in the following discussion: "Hummer H2: Lease Questions". Thanks.

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  • Hi dogsambam. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the H3 that you are interested in for you if you let me know what its selling price is.

    Car_man
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  • Car Man
    Thanks so much for your help. Purchase price would be $34,900.00

    Thanks
  • Hi Car Man. I've got a few H3-related lease questions I'm hoping you can answer. If it's relevant, I would be leasing the truck from a PA dealership, but I live in NJ, and the selling price would be approx. $33k. Here goes:

    1. Do you know if GMAC would offer a 30 month lease on an H3? If they would, do you know what the residual and money factor should be for a 15k mile lease?

    2. What should the residual and money factor be for a 36 month 15k mile lease?

    3. Do you know if all of the options shown on Hummer's official "Build-a-Hummer" site are "residualized" (if that's even a word)? In some previous SUV leases I've entered into, certain seemingly typical options (e.g. side assist steps) were not, so I had to pay 100% of the price of those items. I'm hoping to add lots of exterior add-ons shown on the Hummer site (e.g. brush guard, side assist steps, etc.), but it could get pretty unreasonable in a lease if I have to pay their entire price.

    Thanks for your help!
  • No problem dogsambam. Thanks for the additional informaiton. Let's calculate a lease payment on the truck that you are interested in and see what we come up with. According to my calculations, if you were to lease a 2006 Hummer H3 with an MSRP of $38,400 and a selling price of $34,900 through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $479. The payment for an otherwise identical 24 month lease should be $490.

    Car_man
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  • I'll do my best, maltsch. GMAC is offering 30 month leases on the 2006 Hummer H3 right now. If you were to lease an '06 H3 through GMAC right now for 30 months with 15,000 miles per year, its base lease rate and residual value should be 7.75% and 67%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. The numbers for an otherwise identical 36 month lease should be 7.75% and 62%. I am not 100% positive, but I suspect that any options that you are able to add to your hummer using the build a truck function on Hummer's web site probably can be residualized.

    Car_man
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  • I have gone to a few dealers and everyone is giving me very pricey lease rates. We want a 3 yr, 18k mile a yr.
    -Luxury pkg
    -automatic
    -chrome appearance pkg, chrome wheels, chrome tubular step bar
    -side curtain airbags
    -roof marker lights
    -sunroof

    They told me that the MSRP of the car is $38,510.
    Also..what is GMAC?
    I am interested to find out how much everyone here is paying...they are quoting me with 4k down $544 a month..that seems pricey huh? What is the residual value do you think?
  • Hi michelle123. GMAC stands for General Motors Acceptance Corp. It is a bank that is owned by General Motors, the maker of the Hummer H3. GM runs all of its special lease offers through GMAC. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the H3 that you are interested in for you if you let me know what its selling price is.

    Car_man
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  • I am currently in negotiations with my Hummer dealer on a lease. The sticker on the car is 35995. the invoice is 33275.78. They have also added leather at 975 (invoice). I have a trade, an Acura TL '04. They are giving me 28,000 for it. So the price as of now is at a 12000/yr for 48 months with $0 DAS of 573.62/month or 736.64 DAS of 555.18 per month. It says on here that the residual is .54. Is this a good price?
  • They are saying that they are selling the car to me at invoice (the H3).
  • NO. Unless you are upside down in your trade. An H3 with an MSRP of $36070 can be bought with GMID for 33108. 48 Mos 12K per year with 894 DAS would be 444.94.
  • I am upside down in my trade. I owe 30380.17 and they are giving me 28000. The total price is 34987.42 (out the door) with $0DAS and that is 573.62 a month. Sorry I wasn't clear on that earlier.
  • Also, I see on another cite that you can get a GMID certificate. What exactly is that and is that different than the invoice pricing they are offering me?
  • I would suggest you go here https://www.gmfamilyfirst.com/ip-gmemployee/ Then under vehicle shopping go to GMID pricing...then you can find your exact vehicle at your dealer. Then after you pull up the window sticker you can go to shopping tools and go to GMAC "estimate payments" that exact truck will there with the GMID price filled in. You can modify the figures to show no money down etc and it will compute it for you. I think you have to remember to add the amount you are upside down in your trade to the estimated selling price as well as 1st months payment, aquisition, MV etc unless you are paying those. Then add sales tax to the payment shown. Hope this helps a little.
  • Hi, I am planning to buy a H3 and I have a GM certificate for $1000 and also the dealer said that they would give me another $1000 rebate, question: If the MSRP is around $33,000 and the invoice around $30,000, Should I deduct those $2000 from the MSRP and try to negotiate something off the $31,000 or negotiate and then apply the rebates?
    Thanks!
    Westongirl
  • Sheesh..

    I went into a Hummer dealer here in California and asked for their special lease for $399 with $2972 down for a $33000. (It's on Hummer's website) I had a trade that was slightly under for a pretty popular luxury car, so I was willing to work that into the price would increase it by $4000. They refused to show me the 33k model and wanted me to get the 38.5K model. Couldn't get under $750 a month for 36 months... it was a joke. They wouldn't even show me the rates they were calculating. Our credit scores are well over 700. They dismissed the whole idea of negotiating. I was let go in 15 minutes. There is no Hummer dealer for miles. And I am not even a crazy person! I have negotiated 2 other leases before and always had a fair deal. I have always used Edmunds. Oh well... I guess I go buy another vehicle. We really need an SUV.
  • I suggest you get a GMID certificate then go to another dealer if you really want an H3. Read my post #23. My Hummer dealer is about 75 miles away and they delivered the truck to my driveway. I also leased and had no problems at all, they were very upfront and gave me the lease at their buy rate which came in cheaper than the figures from GM Buypower. A H3 MSRP 33580 would sell for 30962. with 2933 at signing 36mo 12K per year would be 358 per mo. Assuming they roll over the 4K you owe into the lease by increasing the price of the H3 your payment should go up to 481. These figures are from the GM Buypower site.
  • Hi tbrown567. If you are able to lease a 2006 Hummer H3 at invoice you are getting a very good deal. Just so you know, a few days ago GM introduced a new incentive on this truck that gives consumers a free entertainment system, either factory or dealer installed. Make sure that the dealer that you are working with puts one in the truck that you want before you lease it. Assuming that you are dead even in your Acura TL, the dealer is giving you the exact amount that you owe on it as a trade-in allowance, let's work up a sample lease payment for you and see what we come up with. According to my calculations, if you were to lease a 2006 Hummer H3 with an MSRP of $35,995 and a selling price of $33,275.78 through GMAC right now for 48 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $418. As you can see, something is wrong with the lease payment that you were quoted. I think that a little shopping around or renegotiation are in order.

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  • Ahhh, now I see the reason why the lease payment that you were quoted earlier is higher. OK, let's add your negative equity into the lease and see what we come up with. With $2,380.17 in negative equity, the payment for the lease that I just mentioned would increase from $418 a month to $474.

    Car_man
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  • Hi Westongirl. General Motors is not currently providing any sort of customer cash incentives on the 2006 Hummer H3 right now, other than the certificate that you have. The $1,000 that the dealer you are working with is willing to give you is either a dealer discount or it is the $1,000 dealer cash that GM is providing to offer free entertainment systems on the '06 H3 right now. You should try to negotiate as low a price as possible on the truck that you want, stipulating that you want to have the $2,000 deducted from that price. If necessary, you can comparison shop with a few dealers.

    Car_man
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  • Dear car man,
    I am about to lease a Hummer H3 (Upstate NY).
    MSRP is 35165. I want to lease for 36 months, 10,000 mi/yr. I am willing to put a total money down equal to 5,000$.
    I have never worked for GM. Neither I have relatives that did.
    1) Can I still get a good discount?
    2) What would be your suggested Selling Price?
    3) Considering that GM is giving a 1000$ value Entarteinment System as incentive, can I ask them to "remove it" and give me a better discount?
    4) What would be the APR/money market and the residual value?
    Thanks
  • Maybe this will help: from my post 23 "I would suggest you go here https://www.gmfamilyfirst.com/ip-gmemployee/ Then under vehicle shopping go to GMID pricing...then you can find your exact vehicle at your dealer. Then after you pull up the window sticker you can go to shopping tools and go to GMAC "estimate payments" that exact truck will there with the GMID price filled in." You can then modify your down payment etc.Getting a gmid authorization is easy.I would suggest not doing a 10K a year lease it is much cheaper to go 12 or 15 at the beginning than paying in the end. Residual is 64% after 36mo. An H3 with a MSRP of 35000 (selling price 32148) will lease for 316 +tax for 36mo with 12k miles. That is assuming 4k down and 1k for start up fees etc. On the DVD I think the dealer gets 1K and you pay 499 for the system. If you don't take the system you don't pay 499 and the dealer does not get the 1K. I may be wrong on that though.
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