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Hummer H3 Lease Questions

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  • I had a dealership tell me that they cannot lease 06 models anymore. I know the lease special is over, but does that mean 06s can't be leased. Sounded odd.

    Anyway, I am going to a different dealership on Thursday. Anyone got any offers lately on 06s or 07s? Thanks!
  • You're very welcome, davese.

    Car_man
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  • Unfortunately, joeycap, Hummer's lease rates are different than its special financing rates. Furthermore, General Motors is no longer providing lease support on 2006 models. If you want to lease a Hummer H3 through GMAC, you will have to go with a 2007 model. The 2007 H3's base lease rate is currently 3.45%, which is pretty good, but not nearly as good as the 0% finance rate that is available for 5 years on the 2006 H3.

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  • Thanks for the additional information, davese. If you haven't finalized your deal on this truck yet, you're in luck. General Motors introduced $750 bonus cash on it at the beginning of the month. This cash will help you to negotiate an even more attractive selling price for this truck. Its base lease rate for a 36 month lease through GMAC is 3.45%. So work on getting a lower selling price and the 3.45% rate and you;re in business.

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  • :confuse: I am going to do this lease thing, how does this sound...I am trying to minimize payments, but too old to be interested in the shift thing. So I am looking at a base model with auto. Not anything special in other options. I have not gotten a specific vehicle price, yea so I no this is hard, but this is the best of 3 dealers I have contacted so far. NO trade, 2K down, 12000 MPY, 39 months.....$340.00 payment per month plus taxes. Then there are misc fees I don't understand at delivery...something about $595 GMAC "bank fee" and other misc that adds up to about $800.00. Is this normal? Otherwise, it is looking pretty descent to me...the lease novice. Off of MSRP, they seem to be discounting around $2900. Any help appreciated! :)
  • What you were told is true, davese. General Motors is no longer providing lease support on 2006 models. If you want to lease you will have to either try to lease an '06 model through an independent bank or better yet lease an '07 model.

    Car_man
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  • Congratulations on your new truck, tjones39. Thanks for taking the time to share such a detailed description of your deal with everyone. Enjoy!

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  • I can give you an idea of what the 2007 H3's lease program is like right now, lookingforh3. If you were to lease one through GMAC right now for 39 months with 12,000 miles per year, its base lease rate and residual value should be 3.45% and 60%, respectively. When negotiating your lease on this truck, make sure to take the $750 bonus cash that General Motors is currently providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

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  • Hi John. You never mentioned the selling price or MSRP of the H3 that you are leased. These are important numbers for you as a consumer to know for two reasons. One, they will show me how much of a discount you were given on your truck. And two, they will enable me to use GMAC's actual lease program to estimate what its monthly payment should be. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

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  • Hi jchigg2000. If you want to lease an H3, you don't really have a choice. General Motors is no longer providing lease support on the 2006 model. You'll have to go with an '07. I would be happy to give you an idea of how much this truck will cost to lease if you provide me with its approximate selling price. The GMID certificate is given by General Motors to its employees. Each employee can give out a select number of certificates to their friends and family. The certificate allows the holder to purchase a new GM vehicle at its employee purchase price, which is less than they would have to pay if they had negotiated a deal on their own. If you don't know someone who works for GM, you are going to have a tough time getting a certificate.

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  • billhibillhi Posts: 3
    Lease
    Looks good to me...can you please comment..thanks.
    THIS IS FOR 15K MILES PER YEAR
    term 39 months
    rate 3.45
    msrp 37510
    lease amount 35732
    rebate 750
    customer cash 2500
    Total cap cost 36327
    ner cap cost 34053
    residual 57%
    residual amount 21380
    base payment 405.75
    total payment 439.22
  • Hey BillHi,

    I just leased a new 2007 Hummer H3X in Columbus yesterday for my wife.

    The H3x is a new model special edition. It includes heated monogrammed seats, all leather, lots & lots of chrome and luxury features. The H3X lists for $37,545.00. Other Extras I got include the Nav radio, 4 spd. auto tranny, power sunroof, trailer hitch & wiring and XM Sat. radio.

    I signed a 39 month lease for $506 per month (includes taxes) and only put down the 1st months payment and use tax/registration fees-total out of pocket was $685.00

    This is for 10,000 miles per year (she only drives about 8K per year)

    Here are the numbers.

    MSRP----------------43,215
    Discounted price of-40,115
    GMAC Admin. Fee----- 595
    Sales Tax OHIO------ 1200

    Cap Cost of---------41,910
    Consumer Rebate----- 750
    ADjusted Cap Cost---41,160
    Residual of 61%
    Residual amount of--26,361

    I think I got a great deal and she is very, very happy with the Bright Red color with all the chrome!

    Rock78
  • Hi johnnyd5555. GMAC's base lease rate for the 2007 Hummer H3 is currently 3.45%. As long as your credit is in good shape and you paid a security deposit, it looks like the dealer that you got your truck from marked its rate up by 1% to add additional back-end profit to your deal. As far as this truck's price goes, a base 2007 Hummer H3X has a spread of $3,000 between its full MSRP and dealer invoice price. Plus, GM is providing $750 bonus cash on it right now. That gives us a total of around $3,750 to play with. You were given a discount of $2,215 on your H3. This is around $1,500 over invoice, which isn't bad but might be able to be beaten if you are in an area that has a decent level of competition. So you didn't get a bad deal, but it's not the best deal that I have seen either.

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  • Hi lsulaw52. This late in the model year many manufacturers stop providing lease support on leftover models. This is because vehicles' residual values fall as the model year progresses. This late in the model year 2006 models' residual values are so low that it would be too expensive for manufacturers to put enough lease support on them to provide attractive lease payments. You may still be able to lease a 2006 Hummer through an independent bank, but if you want to lease you really would be better off leasing a 2007 model.

    Car_man
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  • Hi squared22. It is normal to have to pay fees on leases at signing. Most banks charge consumers their vehicle's first month's payment, a security deposit that is equivalent to that payment rounded up to the nearest $25 or $50 increment, and a "bank" or "acquisition" fee. GMAC charges an acquisition fee of $595 on every vehicle that it leases.

    I would be happy to give you my opinion on the specific leases that you were quoted if you provide me with the MSRPs and selling prices of the vehicles that you are interested in. These numbers will show me how much of a discount you are being given and they will enable me to use GMAC's actual lease program to estimate what your monthly payment should be.

    Car_man
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  • Hello billhi. The lease rate that you were quoted for this truck is right in line with GMAC's current program for it. This is a good sign because it means that the dealer that you are working with is not trying to mark your vehicle's rate up to add hidden back-end profit to your deal.

    Now let's take a look at this truck's selling price. I believe that the vehicle that you described has a spread of around $3,300 between its full MSRP and dealer invoice price. You were quoted a discount of $1,778. This is around $1,500 over dealer invoice. That is the same margin that the previous poster I responded to was quoted. If you are in an area that has a lot of dealerships, I would not be surprised if you were able to beat that price, but it's not bad.

    Car_man
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  • Congratulations on your new truck, Rock78. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
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  • looking at a 2007 H3 base package with sunroof,trailer package and adventure package is this a good deal
    msrp 35480
    final price 33480
    term 39 months 12000 miles
    rate 3.45 59%
    2200 down which includes 1st and fees
    monthly payment 391

    thks
  • Hi Car Man,
    I am new to this site, visited my dealer before I found your site.

    After reading info here on leasing, I am not feeling that great about the lease agreement I signed. I will not take ownership of the H3x until next week. Is it too late to modify the lease? They said they can not offer a discount on the H3x?? I had to pay full MSRP :confuse:

    Here is the break down for my deal, I appreicate any input you can offer. :-)

    THIS IS FOR 15K MILES PER YEAR on 2007 H3X
    term 48 months
    msrp 43,365
    lease amount 29710.24
    rebate 750
    customer cash 2775.13

    monthly payment 557.13
  • Sir,

    Please read the fine print on the lease---I wonder about the fact is that you have not taken final delivery of the vehicle as yet.

    I think I'd call a lawyer to get his opinion.

    Likewise, you could always "conveniently" find something "wrong with the vehicle." Meaning that once you've inspected it, that it doesn't contain an option or options that you were under the impression that was going to be included with the vehicle.

    ERGO: Be dumb about how the whole process works.

    I still think I'd call an lawyer for his opinion first.

    Another thing you could do is to threaten to have this same attorney come back to the dealership with you to explain to the owner/sales manager how you have been duped by "mis-leading" statements during the sales process.

    I am sure that if you put up enough of a stink, that the dealer will tear up the contract and let you out of it--especially if you feel you have been mis-lead during the sales process. It's cheaper for him to do that then to have him waste his time to argue, fight and waste more money in court.

    Hope that helps.
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