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Hummer H3 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello holson. You never mentioned the selling price of the H3 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 give you my opinion of this deal if you let me know what its selling price is.

    General Motors is currently providing a $950 bonus cash incentive on leases of the 2007 Hummer H3. Make sure to take this cash into account when negotiating the capitalized cost for your lease.

    Car_man
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  • dognut2dognut2 Posts: 1
    Hello to all.This might be my 1st lease.My local florida dealer has 07 H-3 delux w/auto for msrp $35415. on sale for $30415. lease for $299.month, $3500. down,$1800.tax,tag,title etc. 39 month lease.10000 miles a year.If my trade in value is $13000. and I have done the math right,I show $101.a month.Did I do this right? Or am I missing something.Thanks, bob
  • akr11akr11 Posts: 1
    I wonder if this is a good deal: 2007 H3 with luxury package. 10k miles, 39 months. $410 per month. Paying nothing upfront but inception. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Bob. Since you are new to 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.

    I see that you are considering trading your current vehicle in when you lease your new Hummer. There's nothing wrong with doing this, but it would be in your best interest to have the dealer that you're working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments when leasing. Those who make them, risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello akr11. You never mentioned the selling price or MSRP of the H3 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 car that you are interested in for you if you let me know what these numbers are.

    When negotiating the selling price of the H3 that you're interested in, make sure that you take advantage of the $950 (that's a strange number isn't it. Why not just make it $1,000?) bonus cash that is currently available on it.

    Car_man
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  • jhuffmanjhuffman Posts: 1
    Hey Car_Man,

    Thanks for taking my question. Does a residual value of 28,795 sound "kinda" high. Should'nt it be around 20-23,000 on a 39 mos lease w/no money down w/10000 miles a year, on a 07 Base model H3 w/tow package and xm radio. My salesman gave me this number before he even ran my application. I should know the Money Factor...right? I have a Chevy S-10 Zr2
    that I still owe 10,885 on and I figure I have close to 4500 in equity in it and they offered 12000 for it. Should I negotiate more for my trade? Fair market value for it is around 14,000-16,000

    Any advice would be greatly appreciated !

    Thanks,

    Jeff
  • 2007 Hummer h3 Base w/sunroof and side running boards...vehicle is Boulder Grey...they paid off $900-on my last veh leftover payments...MSRP $33,950
    Lease Price $32,400
    Cap Cost Reduction $1500.00
    Length 39 Months
    Lease Rate 4.0
    Residual Value $20030.50 Rent Charge $3502.96
    Total Money down $1687.40
    Monthly Payment $425.87...CAN ANYONE TELL ME HOW I DID AS A SINGLE GIRL GOING TO BUY A CAR BY HERSELF??? Thanks
  • piepiezzzpiepiezzz Posts: 2
    I was just quoted:

    H3 Black/Black Tactical Edition

    GM plan
    MSRP 35,135
    Sell 31,199
    Sign and Drive (other than plate transfer)
    39 months 39,000 miles
    $409/month

    I believe this is a good deal......

    Does anyone know the best way to get out of another GM lease with 11 months left?
  • mikeb10mikeb10 Posts: 8
    Sometimes they have an early lease exit if your buying another GM ask the salesman. They offered me an early exit when I bought my H3 but was under 6 months. 11 months is a little long.
  • steevosteevo Posts: 339
    Call gm and get the current buyout price for your car. Remember that a Dealer will not pay tax to buy so get that number if available. If the car can be sold for more than that number, you should be able to trade it in. Its essentially the same as trading in a car before the loan is payed off.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, Jeff. The higher your truck's residual value is, the better because the lower its monthly payment will be. Naturally, the higher the price you can negotiate for your trade, the better. I am not personally familiar with how much a used Chevrolet S-10 is worth on the open market right now, but you may be able to get an idea by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi debster5430. You definitely are on the right track. You provided all of the important information in your post. As you may already know, the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for the lowest possible selling price on the H3 that you want, making sure to take advantage of the $1,000 lease cash that is currently available on it. I am personally not all that familiar with what the market is like for the H3 in your area right now, but I suspect that you should be able to do better than the $32,400 that you were quoted. The 4.0% lease rate that you were given is right on the money.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi piepiezzz. General Motors will currently waive the final four payments for lessees who purchase or lease a new GM vehicle, but 11 months is a lot more than that. Why do you want to get out of your current vehicle so early? Chances are that it will be very expensive for you to get out of your lease almost a year early. You would be better off waiting until you are closer to the scheduled end of your current lease to get something new.

    Car_man
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  • roboshaproboshap Posts: 2
    Just wanted to know if I'm getting a good deal on an h3 luxury package w/ sunroof, 39-month lease, 12,000 mi/yr

    MSRP - $36,465
    $700 due at signing includes first month payment
    $400 per month including tax
  • Hi Car man, can you tell me if this sounds about right?

    2008 H3 lease..

    MSRP: $33,030.00

    Selling Price: $31,500.00

    39 months, 12k miles per year $5,000 cash total out of pocket at signing

    monthly payment $379 per month
  • Hi joeycap. The truck that you described probably has a spread of around $2,700 between its full MSRP and its dealer invoice price. Plus, General Motors is currently providing a $300 cash incentives on leases of it through GMAC. That gives you a total of around $3,000 to play with. You were quoted a $1,500 discount. If I was in the market for an H3 right now, I personally would try to beat this price by a couple hundred dollars. Give it a shot, you don't have anything to lose by trying. When you arrive at a selling price that you are comfortable with, make sure that the dealer calculates your monthly payment using GMAC's base lease rate of 4%.

    I see that you are considering paying $5,000 at lease signing. I always advise consumers not to make such large down payments on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment would be a little higher, you would be better off going with a zero down lease.

    Car_man
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  • Hi Car Man,

    I was just quoted on a 2008 Hummer H3 Luxury package, with white exterior and black interior, 10k miles/year, at 39mo lease.

    I was quoted at $400 per month with $1,400 due at signing (1st month payment included).

    They said the value of the car is about $38,000.

    Am I getting a good deal?
    Please let me know ASAP. Thanks
  • Just leased a 08 H3 for 24mo @$470.00mo with 22,500miles per yr. This is the luxury pkg w chrome wheels and step up bar. Dealer says whatever miles are not used during my lease I will get refund. This does include a GM discount. Is this a good deal?

    ohhh car was bought at Bob Ross Hummer Centerville OH
  • merklmerkl Posts: 1
    Just picked up my Hummer H3x with sunroof and auto transmission. Here's the deal:

    - Carbon Flash Metallic
    - $0 Driveoff (Dealer absorbed all driveoff fees)
    - $474/month 39 months
    - 12k miles per year
    - $2500 addt'l cashback from GMAC to pay off existing lease (Had to pay tax on this rebate though)
    - MSRP was $42,495 with a 4% lease rate
  • Hello Carman,
    Do you have the current lease rates and residuals for 2008 hummers. Thanks.
  • Quoted a price for base hummer with auto and upgraded solar flare paint:
    up front: taxes $2000(suffolk county new york)
    term: 24 months
    miles: 15k/yr
    payment: $410

    I have a GMID number.

    Is this a good deal?

    They have also added a 1000 rebate since the above quote. How would this effect the lease payment? If I upgrade to a higher model, how much would it cost me per $1,000?

    Thanks,
    Jay
  • I was quoted $480.66 + Tax For 36 months lease. 2008 H3x, $45,145.00 MSRP, $5000.00 drive off. I've spent hours on the net but I still can't fifure out if this deal is OK. When the salesman asked me what I wanted to put down I said $5000 drive off thinking this would lower the payment. But is this a good idea? Thanks. Steve
  • jf7227jf7227 Posts: 13
    Starting to look for a Hummer H3 Alpha w/ Nav. and Rear Camera in Northern NJ. Anyone who has recently leased above vehicle please post monthly lease payment.

    I need 15k per year, but I'm undecided on how many months I want. What is the best deal I can get as far as months go, 24 or 36?

    I want to "sign and drive." MSRP of the vehicle I looked at is $43,250.

    What should I expect as a monthly payment, ballpark.
    Please help so I can be prepared when negotiating.
  • Hi bktommy. What is the MSRP or dealer invoice of the truck that you are interested in? You can look these numbers up in the New Vehicle Pricing section of Edmunds.com. I need to know one of these numbers because they will show me how much of a discount you are being given on this H3. If you give me the MSRP I can also use GMAC's current lease program to estimate what your monthly payment should be.

    Car_man
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  • Hi dbcrouse. If you leased this truck using General Motors' supplier purchase program then chances are you got a very good deal on it. I would be happy to give you a more detailed analysis of this lease if you provide me with your truck's MSRP and selling price.

    Car_man
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  • I sure do, imininc. You never mentioned what term or mileage allowance you are interested in, so for now I will assume that you want a 36 month lease with 15,000 miles per year. Let me know if you want something different. GMAC's current base lease rate and residual value for a 36 month lease of a 2008 Hummer H3 with 15,000 miles per year are 4.0% and 58%, respectively. When negotiating your lease on this truck, make sure to take the $1,050 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • Hi Jay. If you are able to purchase, or in this case lease, the Hummer that you're interested in through General Motors' supplier or employee purchase programs then chances are you are getting a very good deal on it. I would be more than happy to give you a detailed analysis of this deal if you let me know what its MSRP and selling price are.

    Car_man
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  • Hi sschroeder. Let me begin by saying that $5,000 is way too much money to pay at lease signing. I always advise consumers not to make any sort of capitalized cost reduction on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease even though it means your monthly payment will be a little higher.

    You never mentioned the selling price of the H3 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 car 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 the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi jf7227. GMAC's lease rate is the same for 24 and 36 months, but the 36 month term will provide you with a lower monthly payment because it enables you to spread the large initial depreciation hit that new vehicles experience out over a larger number of payments.

    Let's work up a sample lease payment on this truck for you and see what we come up with. The Hummer H3 Alpha probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. For now I will assume that you are able to negotiate a $2,500 dealer discount. According to my calculations, if you were to lease a 2008 Hummer H3 that has an MSRP of $43,250.and a capitalized cost of $39,700 ($43,250 - $2,500 discount - $1,050 lease cash) through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $514.

    Car_man
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  • jf7227jf7227 Posts: 13
    Thanks a lot. This forum has been a great help.
This discussion has been closed.