Hummer H3 Lease Questions

CarMan@Edmunds · August 2005

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Hummer H3. Thanks.

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sb1234 · September 2005

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

CarMan@Edmunds · September 2005

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%.

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baskethead · September 2005

Car_man,
What would the difference be for a 24 month lease?
Thx
Greg

CarMan@Edmunds · September 2005

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%.

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gunnar_fox · September 2005

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

CarMan@Edmunds · September 2005

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.

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gunnar_fox · September 2005

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

dogsambam · September 2005

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.

CarMan@Edmunds · September 2005

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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CarMan@Edmunds · September 2005

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.

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dogsambam · September 2005

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

Thanks

maltsch · September 2005

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!

CarMan@Edmunds · September 2005

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.

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CarMan@Edmunds · September 2005

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.

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michelle123 · September 2005

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?

CarMan@Edmunds · October 2005

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.

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tbrown567 · November 2005

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?

tbrown567 · November 2005

They are saying that they are selling the car to me at invoice (the H3).

marblez · November 2005

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.

tbrown567 · November 2005

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.

tbrown567 · November 2005

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?

marblez · November 2005

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.

smiamiguy · November 2005

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

sb1234 · November 2005

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.

marblez · November 2005

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.

CarMan@Edmunds · November 2005

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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CarMan@Edmunds · November 2005

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.

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CarMan@Edmunds · November 2005

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.

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gintini · December 2005

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

marblez · December 2005

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.

gintini · December 2005

thank you very much for your help marblez!
one more question, though....
can i accumulate my GMID Certificate with a GM card saving?
Thanks

marblez · December 2005

You can use GM Card earnings...1000 on H3. If you are anywhere near Pa I would suggest Scott Hummer in Allentown.

soto2 · December 2005

Daer Car-man
I have negotiated,the price to $500 below invoice (Invoice* $26,476 +Destination Charge: $565 =$27041-$500=$26,541 )I understand ther is a:
2006 Hummer H3 Rebate Information
Bonus Cash Rebate Cash Dealer Cash Lease Cash Loyalty Cash Internet Pricing
$750 - $750 - $1,000 - $1,000
and
HUMMER holdback: 3% of the total MSRP.
Can you work up a sample lease payment on the H3 5speed-base model.

CarMan@Edmunds · December 2005

Hi gintini. Even though neither you nor any of your relatives have ever worked for General Motors, you still should be able to negotiate an attractive deal on the Hummer H3 that you want. I see that you are aware of the free entertainment system offer that General Motors is providing on this truck right now. Unfortunately, dealers only receive a cash incentive from GM on trucks that are equipped with this option, so eliminating it will not help you get a better deal. You might as well include it in your truck. I am not personally all that familiar with what the market is like for the H3 right now. Surprisingly, there is not as much of a margin between its MSRP and dealer invoice prices as I thought there would be. A base 2006 Hummer H3 has a spread of $2,456.47 between these prices. If I was in the market for one right now, I personally would shoot for around $1,500 (plus the free entertainment system) or perhaps a little more off MSRP. Again though I am not personally familiar with what they are selling for right now.

GM is not currently offering a special financing program on the H3, but it does have a lease program on it. Its base lease rate for any length lease of one right now should be 5.90%. Its residual values vary depending upon how long you lease for and how many miles per year you need to be able to drive it. Its 36 month, 15,000 miles per year residual value is currently 62%.

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CarMan@Edmunds · December 2005

Hi soto2. $500 below invoice is a heck of a good deal on this truck. I would be happy to estimate what your lease payment should be for you, however in order for me to do so I need you to provide me with its full MSRP.

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mc1 · December 2005

Car_man

If you were given these 2 options which would you choose, someone is going to be buying or leasing this for me. I currently have a 98 Olds Bravada. Can probably get about 5k for it.

1) Someone else is going to put 5k down plus the money for my car and buy a new H3 for me.

2) Someone will lease the H3 for me for 36 months and give me 5k in cash and let me keep the money from my current car.

Which would you choose?

gintini · December 2005

Dear Car_man,
yesterday I finally agreed on the leasing of my Hummer H3. I also negotiated an Eclipse navigation system (precisely the AVN5495) for 2000$ (market value of approximately 2400$). At the time of the deal I put down a total of 5,000$ on my credit card and I was assured that my car was going to be ready on saturday (I actually have a paper signed by the dealer, assuring me that he was going to honor our deal on the 5495 nav system). Unfortunately, this morning the dealer called me saying that the Nav system was on back order and that I would probably get it by the end of january. He could also not assure me on the effective delivery of the system by the end of january.
Considering that the Nav system is largely available on the internet, my opinion is that the dealer is trying to step back from our 2000$ deal.
Question: even if I already put down 5000$, can I still get out of the deal(if they do not install the system by saturday)??? I did not sign anything at the time of the deal and I may consider to go to another dealer.
Thank you very much for your helpful cooperation

mechilds · December 2005

Dear Carman,

I would like to lease a new 2006 H3 HUMMER. The MSRP is $35,935.00, GM Supplier price is $32,932.32, and Invoice is $32,500.00. I have an e-mail quote from a dealer stating they will sell me an H3 for $100.00 over invoice price. I also want the $499.00 RES deal ($1000 cash rebate to dealer on this?).

I have a 2003 Chevy Siverado Ext. Cab (loaded except for leather) to trade; payoff is $17,000, and dealer is only willing to give me $13,000 for it (nowhere near KBB or NADA value). I also have $500 GM Card cash to use.

I have seen other sites listing $750 incentive cash for the H3, as well as $1000 GM direct mail certificates (which I don't have, even though I am a loyal GM customer).

My question is this: can I get a 36 to 48 month lease (12,000 to 15,000 miles per year) from GM for $500.00/month or less. That is my goal...if I cannot obtain it on a HUMMER, then I will have to settle for a Honda Pilot.

mechilds · December 2005

I now have a GMID certificate number...hopefully this will get me a better price than invoice??

gokhangulec · December 2005

Hey Mechilds! How did you get the GMID? I heard it was possibe to get the MSRP discounted about 3200$.

gokhangulec · December 2005

Hi CarMan! How did you get the selling price? Did you negotiate? Thanks in advance.

Kirstie_H · December 2005

car_man didn't buy an H3, he was simply calculating a lease payment on a selling price that he thought a consumer could reasonably achieve through decent negotiation!

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gokhangulec · December 2005

Thanks for the info, and Merry Christmas to you too..

jester1161 · December 2005

Hey looking for some info. I am looking to lease a 06 H3. I have leased many trucks just not a hummer so its a new dealer to me. They are all over the place with prices on the leases. I just wanted to know what you guys have for residual values on 2 and 3 year 15K leases? I have read back in the string and see 72% on a 2 year. Is it really that high??? If so nice.

Thanks

gokhangulec · December 2005

Hey all, thanks for all of this, it is really really great!
I would have some questions here about what I will use when I negotiate with the dealer.

1. The car I like has MSRP ~35K. I do not know how to negotiate this to the actual selling price. From what I read here from the previous messages, I could:
- either try to negotiate to the invoice price + 499$, 499$ for the DVD, and this because the dealer can still make money one from the $1000 cash rebate on the DVD and second from the HUMMER holdback (3% of the total MSRP) they get.
QUESTION: does that make sense to you?
or
- try to get a GMID, then the selling price may go down for 3k/4k.
QUESTION: Can anyone confirm this can be done if I have a GMID and, how I do get the selling price, from the dealer or from a website?
or
- try to negotiate a deal by using (Bonus Cash - Rebate Cash - Dealer Cash - Lease Cash) rebates, which make 750+750+1000+1000 = 2500$. Plus if I get the DVD deal, then maybe I would be able to get some of the 1000$ cash rebate, maybe 500$. All this would make a negotiation for (2500-499+500)= 2,5k$.
QUESTION: Can anyone confirm that dealers would accept those rebates?

2. I am thinking to lease it for 24 months (or 30 months), 18k miles/year, 0$ for DP.
QUESTION: Could you confirm that I can get
- a buy rate, which is 5.9% now, instead of lease rate 7.75% and
- the residual for 70% (or %65 for 30 months)?

3. Just as an example:
MSRP being 35k, if I was able to negotiate the selling price for 32k, let's assume that acquisition fee is 475$,
(QUESTION: Does anyone know anything about the amount for ack fee they charge?)
would then my monthly payments be: 472%+tax for 24 months and 460$+tax for 30 months?

I know I asked a lots of questions. I am hoping that someone can read all of this and help me. Thanks in advance again and HAPPY HOLIDAYS!

degraw · December 2005

We are looking to purchase a H3. I was looking for some advice as to what I should expect to pay for a H3 with the Luxury Package? Also, How do you get a GMID? :confuse:

mechilds · December 2005

Here is the lease deal I was quoted:

MSRP- $35,420.00

Invoice- $31,989.88 (You should be able to get at least invoice price; these things are sitting on dealer lots by the hundreds in Houston)

Lease Terms- 36 months/15,000 miles per year

Upfront Money- First months payment

"Agreed Upon" price- Invoice

Final Capitalization Cost- $35,226.31 (sales tax in TX on autos is 6.25%, so there is an extra $1034.79 in fees in there for some reason)

Residual Value- 49%

Money Factor-.00193 (4.6%)

Monthly Payment- $598.84 *I calculated a monthly payment of $601.70 plugging the numbers into the formula as I know it, so their number seems right)

Anybody see something I am missing?? CarMan, does this deal sound right, and is it a good one??

degraw · December 2005

We want to purchase so you are saying that a $35,000 should sell for about $31,900?

marblez · December 2005

I know you didn't ask me but I don't think that is a good deal.

1. The Capitalization Cost is the price you are paying for the truck. Subtract the "fees" and the price you are paying is 34192 not exactly invoice.

2.I calculated a H3 with a MSRP of 35455 using a GMID the selling price is 32441 with only the 1st payment down your payment for 36mo 15k should be 467 a month plus tax. That is from GMAC.

gokhangulec · December 2005

* Your residual is really low. For 36 months and 15k, it should be 62%. This is what I learned from this forum. You should try to get it up.
* But your interest rate is better than what I have seen here. The best was 5.9%, but yours is 4.6%.

Please use http://www.leaseguide.com/calc.htm to calculate your monthly payment.

I hope this helps.

Hummer H3 Lease Questions

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