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Hummer H3 Lease Questions
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Comments
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 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.
Car_man
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Car_man
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Car_man
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Car_man
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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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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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From the looks of it, you have already checked out the 10 steps piece. I will boil things down even further for you. The two most important numbers to focus on when leasing a new vehicle are its selling price and the interest rate or money factor that you are being charged. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Comparison shop with a few dealers for the best possible price on the new H3 that you want.
The combination of lackluster new vehicle sales, high gas prices, and the H3's poor crash test results will probably enable you to get a great deal on one right now. If I was in the market for a new H3 right now, I personally would shoot for a selling price of right around dealer invoice. You can look up the dealer invoice price of the exact truck that you want by visiting the following section of this site: New Vehicle Pricing. When negotiating your lease on this truck, make sure to take the $1,050 lease cash and $1,000 bonus cash that General Motors is currently providing on it into account.
Once you have arrived at a selling price that you are happy with, have the dealer calculate your lease payment using GMAC's current base lease rate of 4.0% and you're all set.
Car_man
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- Adventure Package
- Sunroof
- Chrome Appearance Package
- Chrome wheels
- Chrome gas gas cover
- Power Driver seat
- Side Chrome tube steps
- Roof rails
$379/month, includes taxes
$1,800 down, includes first payment, and all up front fees.
27 month lease
10,500 miles per year
The MSRP is almost $39K and the lease is based off a selling price of $34K, which is well below invoice. Although the buyout seems high at $27,496, but it is a short lease term.
I'm looking at doing a SmartLease or SmartBuy on a 2008 H3 (haven't decided between base or alpha right now). When I use the GMAC lease tool on the Hummer site it automatically includes a $1,750 manufacturer's allowance. Do you know if this includes the $1,000 lease rebate that Edmunds has listed in the incentives area or is this in addition to the rebate?
Thanks
Car_man
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Solar Flare Orange H3 with Lux package
Navigation
Rearview Camera
Chrome package
Chrome wheels
Sunroof
Automatic transmission
$2000 down (includes first payment, fees, etc)
39 months
10K miles/year
$399/month
This seems like a great deal, but I'm not sure.
We have NEVER leased before, and have considered leasing a H3. Long story short, on the news here in NJ they spoke about leasetrader.com (where you can take over other pple's leases which can be a great way to save $$) so we looked and we stumbled upon a 2008 H3 to take the lease payments over. It's in the next town over from us, and the guy doesn't need it anymore cuz he moved to NYC. Here is the info:
~ 2008 Hummer Sport edition
~ Value of it was $35,000. He put $3,000 down and the lease is for 36 mos. with the option to trade in during the 24 month. He's in the middle of his 5th month into the lease. Monthly payment is $379/mo including taxes. 12,000 mileage allotment per year. .10 cents over for each mile over.
~ The lease is with Gold Coast HUMMER of Oakhurst, NJ. He has 5000 miles on a 12000 mile a year lease which puts it under the monthly limit.
Other info:
He added chrome inserts on the top grill of the hood along with a chrome gas insert and chrome side molding. It's all black with tinted back windows and black and red interior. Added features include a CD player along with XM and Onstar/Onstar telephone. Outside thermostat on the rear view mirror and mirror itself dims according to time of day.
The only thing we would have to pay is $595 for GMAC for the transfer of title, dmv fees and all that crap. The owner even offered to chip in some of that cost. He is also throwing in his TomTom GPS.
Unfortunately it doesn't have leather or a sunroof...2 things we really like, but are willing to sacrifice that if this is a good deal for us considering we pay nothing down since that was already done!
SO MY QUESTIONS are as follows:
1) Is this a good deal for us? I'm thinking it is for us, considering we are not shelling out a dime (besides the fees to GMAC). Also, out of curiousity, did this guy get a good deal out of it (he put $3,000K down)?
2) Is there any "downfalls" in doing this by taking over a lease? Anything to 'watch' out for? Would like to hear your opinion on this.
3) Concerning buyout: I asked him about the buyout and his response was this:
"I just spoke with the dealer, it was kind of high he said due to the fact of the condition that I described to him. Rough estimate of 28000 (he said he needs to see the car to get an exact). It retailed at 35,000 though." Thoughts?
4) He said the car is only a few mos. old. Does this buyout number drop as the car ages??? I'm a little confused about the buyout thing. Not sure if that seems high or not and if so, does that number drop?
THANK YOU SO MUCH FOR YOUR TIME. I would love to hear your opinion on this. We are looking at it on Saturday, and would love to hear what you have to say about it and if you feel this is a good deal for us or not.
~Dawn
Car_man
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The individual who you are dealing with is either confused to lying to you. If he has a 36 month lease, it's a 36 month lease. there's no such thing as an option to trade the truck in after 24 months...not for free anyhow. Sure, you would be able to do so, but it would likely cost you a lot of money.
There's nothing wrong with assuming someone else's lease, but before you do so you definitely should compare the cost of leasing a similar brand new truck to the payment that the lease you are considering assuming has. You may find that the deals on this particular model are better now than they were when this person leased theirs, or that they just didn't get a very good deal. Only five months in, there's no reason to assume a lease unless it is significantly less expensive than what you would have to pay for a brand new H3. You may want to try comparison shopping with a couple of dealers before pulling the trigger.
As far as this car's lease-end purchase price goes, chances are it is going to be higher than what it is worth on the open market when your lease is up. If this is indeed the case, then it doesn't make sense to buy your truck at lease-end. In most instances, consumers are actually better off walking away from their leased vehicles at the end of their terms than buying them.
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Navigation
Rearview Camera
Chrome package
Chrome wheels
Sunroof
Automatic transmission
$1000 down (includes first payment, fees, etc)
39 months
10K miles/year
$426/month
This seems like a great deal, but I'm not sure.
So right now my husband is at the dealership and so far here's what they are offering him:
~2008 H3...the LUXURY edition
~ chrome package
~ sunroof
~ leather
~ chrome wheels
~It's a $40,000 truck.
(the only thing it doesn't have is the chrome gas gap. For me personally I'd rather have that than the chrome wheels. My husband would beg to differ. lol)
TERMS:
~ 38 mo. lease
~ 12,000 miles a yr. (.20 cents each mile over) (the guy really kept trying to push for 10,000K miles. My hubby gave him a fight and kept walking out).
~ MSRP is $40,000 but we are "buying" it for $36,600
~ $399/mo including taxes
~ $1,440 down and that includes the first payment, taxes, fees, etc..
~ 59% residual (what does that mean??? help!)
~ it was based on 4% int. rate
What do you think?
I'm telling my husband on the phone about the $1,050 lease cash and $1,000 bonus cash, and he's telling him but the guy seems to be dancing around it?! Wanted to know if I was an employee of GMAC. LOL So, not sure. My hubby is usually a great wheeler and dealer, but not sure about this lease cash incentive thingie if he'll pull thru or not?!?!
Anyway, what do you say about this deal?? Would love to hear your honest opinion on this and based on the MSRP of being $40,000 and them 'selling' it to us for $36,600. I would hate to get ripped off in any way.
How it differs from the other deal, where we were going to take over the guy's lease.
~ The lease take-over one was also a 2008, it was the Sport edition though, it did have the chrome pkg. (which is only the chrome handles and mirrors. He also had the chrome hood thingie too) BUT NO LEATHER OR SUNROOF. That was also for 12,000 mi/yr. and we would be taking the payments over for $379/mo. (it currently has 5K miles on it) and the guy put down $3,000 on it (sounds like he didn't get a good deal after all, huh??)
SO, for $20 more a month we are getting the luxury pkg., which comes with everything and it only has 34 miles on it, versus 5,000 since the guy was 5 mos. into his lease. Granted, we will be putting down $1,500 if we close this deal, but what do you say?
This is in New Jersey.
Looking forward to your opinion/advice, etc.!
where in NJ? We're negotiating at Perrine Hummer/Buick/GMC in Hightstown.
Thanks.
This H3 has a total of $10,000 in options! The MSRP sticker was almost $41,000 on it. I also forgot to add that it has the DVD Navigation Radio....a $1,700 option. and the trailing equipment too (which is almost a $400 option)...which is good for us cuz we do have a trailer. The only thing it don't have (besides the chrome gas cap) which I really wish it did was the step bars (or whatever you call it). He said that they don't come standard anymore. It's an option...and it's NOT cheap. It'll be much easier to get in and out if we had it...but sometimes you gotta sacrifice some things, right?
Good luck to you in hopefully closing your deal. Hopefully our experience can help you in comparison to the deal you will hopefully make. Keep me posted!!!
We're trying to decide between a truck (the H3) or a car (an A4). It's this whole gas price thing, or we'd have gone for the H3 already.
Let me know if you have ANY other q's. I'd be happy to answer. Let me know what you decide!
Car_man
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Makes me wonder if I am even getting a true GMS price! Tell me what you think, MSRP $38,975
Lux. package
Chrome wheels
Chrome apperance package
Moonroof
$2800 GMS discount
$1000 spring event bonus
$600 Cap cost reduction
Total $34,575
sound right?
h3
39 mo. lease
15,000 miles mo.
2008 hummer MSRP-- $33,340 plus hitch $350
"negotiated" $31,000 minus $1,650 (1,000 spring plus $650)
$29,359 net minus $4,000 trade/dwn (trade-in taxed at 7,75%.. urgh>)
came out to be $344.00/month -- out the door
Thoughts>>??? Thanks---- it's appreciated!!!!
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth 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: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 11:07 pm. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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A few questions about HUMMER H3 leases:
1. Are the money factors and residuals the same for H3 Base/Luxury versus H3 Alpha?
2. HUMMER currently has a $5K incentive for H3 purchases. Are they putting any incentive cash into H3 leases (either to customers or dealers)?
3. Does GM change the residuals and/or money factors when you change from a 24 to a 27 month lease or from a 36 to a 39 month lease?
4. With no money down and 15K miles/year, what is likely to be the lower payment/better deal, a 24 month or 36 month H3 lease?
5. Are the lease residuals and money factor you quoted on June 9th (above message) still valid? At the time you said a 36 month H3 lease at 15K mi/yr was 2.75% and 58% residual. If the 24 month is a better deal, please provide that data.
Also, if the H3 Alpha has different lease #'s, please provide those for 36 or 24-- whichever is better.
Thanks!
1) GMAC's lease program is the same for all Hummer trim levels.
2) While GM is now providing a whopping $7,000 cash incentive on the H3, it is only providing $600 on leases.
3) The lease rates for 27 and 39 month leases are the same as they are for 24 and 36 month leases, but the residual values are 1% lower.
4) A 36 month lease of an H3 should have a significantly lower monthly payment than a 24 month lease would right now.
5) Any lease program that I mentioned in June is still the same.
Car_man
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They advertise this in NJ and was wondering if its true or not - I've requested teh same from a local dealer in North Carolina - waiting to hear back.
I had supplier discount as well, but he dipped below invoice.
the 24k included tax, tags, registrations etc - can't beat that!!
(i purchased, not leased).
Hope this helps some people!
Lease Hummer H3
Year Make Model Months Miles Down MSRP E price
2008 Hummer H3 Base manual 39 10,000 $2995 $30,855 $369.00+tax
Year Make Model Months Miles Down MSRP E price
2008 Hummer H3 automatic 39 10,000 $2995 $33,075 $389.00+tax
2008 Hummer H3 adventure 39 10,000 $2995 $34,135 $409.00+tax
2008 Hummer H3 lux 39 10,000 $2995 $39,150 $429.00+tax
2008 Hummer H3 Alpha 39 10,000 $2995 $39,420 $459.00+tax
Lease Hummer H3 2009
Year Make Model Months Miles Down MSRP E price Purchase
2009 Hummer H3 Base Manual 39 10,000 $2995 $32,855 $399.00+tax Or up to $5000 off
2009 Hummer H3 Base 39 10,000 $2995 $34,855 $419.00+tax Or up to $5000 off
2009 Hummer H3 Adventure 39 10,000 $2995 $35,075 $449.00+tax Or up to $5000 off
2009 Hummer H3 lUX 39 10,000 $2995 $36,135 $479.00+tax Or up to $5000 off
Does anybody know the Lease rates for a 2009 H3 15 K a year?
Is there any incentive on a 2009 lease, Bonus cash or rebate?
Thank you!