Hummer H3 Lease Questions

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  • degrawdegraw Member Posts: 5
    Thanks for your info, I was looking at purchasing vs. lease- I don't think a lease is for us, I don't like the mileage restrictions etc...
  • ddarlingddarling Member Posts: 4
    Anyone got one left for December? I'd like to get a Hummer H3.
    Thanks.
  • car_willcar_will Member Posts: 1
    Hi All,

    First post here…..:-) I’m very interested in buying or leasing the H3. I’m dealing with the Sales person via email and have been offered $1,23.50 over invoice, MSRP is being listed as $33,970 for the 1SA and $35, 909 for the 1SC. Couple of questions.

    1. Is MSRP the same as invoice price?
    2. Is this a good deal?
    3. Should I jump on this for the free DVD system, offer expires Jan 31st?

    Just one more thing – I noticed that the prices were around a $1k+ cheaper yesterday, until I shared my figures with the Salesman…..:-(

    Thanks in advance,

    Cheers and happy new year to all…..:-)
  • marblezmarblez Member Posts: 32
    MSRP is the price on the factory sticker on the window, Invoice is the dealers "cost" included in that will be advertising and holdback 3% that the dealer gets back.

    If you get a GMID a H3 1SA with MSRP of 33965 will sell for 31299. H3 1SC with MSRP of 35900 will be 32908.

    In my opinion the DVD system is a personal choice wouldn't influence me either way. I thought the DVD was $499 not free. Maybe it is different where you are.

    Remember the price will not be he price until you are sitting at the dealer and signing the papers. I know Hummer dealers are not close to most people but if you have a GMID at least you know the price and you will have access to a special version of GM Buypower where you can see the prices and figure out lease and buy payments. If you are near Pa I can reccomend a dealer.
  • cwotycwoty Member Posts: 2
    Hello,
    First off I've been reading these forums for a month now and really like them, Anyways Originally my wife and I were going to get a Honda Pilot, Until she saw the Hummer H3. Here is the quote we got for a lease on a 2006 Hummer with an MSRP of $37,442. It is the Lux package with the Chrome, and Sunroof, and Tow package. Ok with $3K down, The payments for a 36 month 15K Miles a year lease are $500 a month after taxes. I told him I had a GMID certificate and he said this is a better deal than that so don't bother. Oh and it comes with the 2 DVD players in the Headrests. Does anyone know if this is a good deal?
    Thanks!
  • marblezmarblez Member Posts: 32
    Nope its not a good deal. If you use your GMID and then add the 499 for the DVD system your payments with 3K down 36Mo 15K should be 408 plus tax. You have the GMID go to the GM Buypower link that came with the GMID e-mail you can find the exact vehicle and punch in the numbers for a lease.
  • dennisdodddennisdodd Member Posts: 1
    Dear Carman,

    I live in Los Angeles and I am in the very initial stages of finding a dealer. Is it okay to request a quote via email. I am trying to narrow my choices of dealerships and I honestly do not want to get out in traffic.

    1. What would the invoice price on a 2006 H3 Lux Package with all the options you can get cost?

    2. What would be my payments and specifics be on a 3 year lease, 15k miles, with 1500 down payment? Tax is 8.25%

    Thanks in advance!
  • cwotycwoty Member Posts: 2
    Thanks Marblez! I called the dealer and he is changing the figures.
  • jhl1963jhl1963 Member Posts: 19
    Friends, just got a quote from the local Hummer dealer for an H3, cd/xm/auto/adventure - sticker 33.9k, $500 off sticker - 12k miles, 36 months $476 $0 down (excluding taxes, title e.t.c.). Seems high to me? I am in the NY Metro area.

    Thanks guys - appreciate the help!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    I'm glad that you enjoy these discussions so much, cwoty. The Hummer H3 lease discussion certainly has been busy lately. I guess that it makes a great stocking stuffer :D . 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 the selling price is.

    One thing that I can tell you for now is that the down payment that you are being asked for is too large. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your H3 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

    Anyhow, find out the exact selling price and let me know.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    As the hilarious Eddie Murphy said in Coming to America "Merry New Year" to you as well, dennisdodd. You can find out the exact MSRP and dealer invoice price of the truck that you are considering leasing by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. When negotiating the selling price of the H3 that you want, make sure to keep in mind that GM is running a special incentive on it right now that provides a free rear DVD entertainment system. So you won't have to pay for that option. Your exact lease payment on this truck will depend upon its MSRP and selling price. Look up the prices in the section of this site that I referred you to earlier and let me know. If you provide me with the dealer invoice price, I can make an assumption about this truck's selling price for the purpose of calculating its lease payment.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi jhl1963. I am not intimately familiar with what the market is like for the Hummer H3 right now, but I am surprised that you are only able to get a $500 discount. I would think that consumers who are in an area where there is a decent level of competition would be able to get more than that given the fact that there is at least a $2,500 spread between its full MSRP and dealer invoice price. Not to mention the fact that GM is providing dealers with cash incentives to offer consumers free entertainment systems right now. Gas prices are still relatively high. I think that this would work to your advantage when trying to purchase a Hummer. GM has a number of Hummer dealerships in the New York Metro area. If I was in your situation, I would call, e-mail, or visit a few additional dealers to see if you can get a bigger discount than this. Good luck and let us know how things turn out.

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  • jhl1963jhl1963 Member Posts: 19
    Thanks - I am in the process of getting more quotes, just wanted to see what everyone's thoughts are. Apprecaite it!

    Thanks and happy new year.
  • jhl1963jhl1963 Member Posts: 19
    Friends, where is the best way (available on the net?)/when to get the new MFs/Residuals for January (they will change tomorrow, correct?) I have my GMID certificate and want to go finalize a deal armed with the info. Thanks everyone!
  • stasomaticstasomatic Member Posts: 1
    Hello there, Car Man!

    I went to a Hummer dealer today in NJ - Paramus Hummer. The sales manager there worked up some info for me (below). I didn't push for any discounts yet, as I wanted to make sure I wanted to deal with them first. Could you please take a quick glance and let me know if the info seems correct? I used the Edmunds calculator and the price seems to be in the ballpark.

    Thanks very much,

    Stas

    Trade Allowance,$0.00
    Pay Off of Trade,$0.00
    Customer Cash/Rebate,"$1,000.00"
    Total Cash/Rebate Equity,"$1,000.00"
    Inception Fees,"$1,912.47"
    Cash/Equity Defficiency,$912.47

    Original MSRP,"$35,020.00"
    MSRP Discounts,$0.00
    MSRP Adjustments,$0.00
    Adjusted MSRP,"$35,020.00"
    Residual Value (71%),"$24,864.20"
    Annual Miles,"$10,000.00"
    Mileage Adj: + 3.00%,"$1,050.60"
    Adjusted Residual Value,"$25,914.80"
    Assignment Fee,$695.00
    Up-Front Tax @ 6.5%,See Inception Fees
    Payment recap,27 Months / $553.75
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're very welcome, jhl1963. Let me know if you have any other questions.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Ahhh, I see that you do have another question, jhl1963 :P . I should have scrolled ahead. GM's January lease program is funny. It introduced a new one on the 4th, like it was scheduled to, but for some reason it only runs through the 10th. I suspect that it will be very similar after that date, but you never know. You never mentioned how long you want to lease your truck for or how many miles per year you need to be able to drive it, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. 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 5.9% and 62%, respectively. As you can see, GMAC publishes interest rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello stasomatic. I just worked up a lease payment on the truck that you are interested in and the one that you were quoted seems about right. Having said this, you aren't being given any sort of discount on it. You definitely need to negotiate with this dealer more, or to shop around to see if you can get a more attractive selling price.

    Car_man
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  • marblezmarblez Member Posts: 32
    I know this dealer will accept a GMID if they are still available, that should help the price. If not I purchased My H3 at Scott Hummer in Allentown Pa using a GMID.They will quote a price on the phone and from my last conversation with a salesman will give a discount.
  • jhl1963jhl1963 Member Posts: 19
    thanks again Carman -

    1= looking for 10k miles, 36/39 months
    2= Is the bank fee of 5-600 actually part of the GMAC lease, or is a dealer's way of getting additional profit?

    Thanks again, really helpful.

    Hope to make a move shortly.
  • jhl1963jhl1963 Member Posts: 19
    Really appreciate all of the help.
  • cgmmnycgmmny Member Posts: 2
    Hello Carman

    I'm interested in leasing an H3. I would like to stay around the $450 monthly payment range (Including taxes). I just got my GMID yesterday and am ready to begin talks with my local dealer. Here are the numbers I've gotten off the GMbuypower website:

    MSRP: $36,295 (Lux. Pkg, Auto, etc)
    GM Supplier Price: $33,264.94

    My first question is can I negotiate a price lower than the GMID Supplier price? Second, are there any rebate promotions? I would like to lease the car for 36 months, 15,000 miles per year. Please let me know the associated down payment needed to achieve the $450 monthly payment (taxes included).

    Your insight is appreciated.

    Kind Regards

    Cgmmny
  • cgmmnycgmmny Member Posts: 2
    Hello Carman

    I'm interested in leasing an H3. I would like to stay around the $450 monthly payment range (Including taxes). I just got my GMID yesterday and am ready to begin talks with my local dealer. Here are the numbers I've gotten off the GMbuypower website:

    MSRP: $36,295 (Lux. Pkg, Auto, etc)
    GM Supplier Price: $33,264.94

    My first question is can I negotiate a price lower than the GMID Supplier price? Second, are there any rebate promotions? I would like to lease the car for 36 months, 15,000 miles per year. Please let me know the associated down payment needed to achieve the $450 monthly payment (taxes included).

    Your insight is appreciated.

    Kind Regards

    Cgmmny
  • jorgedbernaljorgedbernal Member Posts: 2
    Hi Car_man,

    I just got my authorization number from GM, I suppose I can now get the H3 at the supplier price. I worked out the number on their Payment Estimator and want to know, is that exactly what I should pay or agree to pay? Can I lower that price even more? What other factors influence the monthly payment? Also, I have really bad credit, will I get nailed in the monthly payments because of that, eventhough I'm coming from a 39 month lease on a BMW Z4 where I paid religiously on time? Anyways I appreciate any help you can offer me, here are all the stats.

    The H3 MSRP is $35020.00
    Supplier price is $32159.07
    According to the Payment Estimator my monthly payment will be 462.26 for 36 months, 15k miles giving 937.26 out of pocket (thats 462.26 first month and 475.00 security deposit).
    I live in South Florida.
  • ken12345ken12345 Member Posts: 1
    Hello Carman,

    I'm currently in the final stages of negotiating a lease with a Hummer dealership in the tri-state(ct,ny,nj) area. Right now i have a model with luxury/sunroof/navigation/xm/chrome appreance/chrome roof cross bars/brush guard/chrm tubular steps/chrome gas cap/trailering/and the special dvd package($299)..i pretty much have all the options...i was quoted a price of $40,265..its been difficult for me to quantify this on an MSRP basis because he took an existing model he had in stock and added my options to it (some are not listed on the various websites etc), i'm looking at a lease of 12k miles for 36 months...using a 64% residual and money factor of .00246, plus $900 in negative equity from a trade-in, i was quoted a lease price of $637 a month, about $1,020 due at signing (includes 1st month)... I really want to know if this seems too high, or at least the $40,265 figure...that is higher than every price i have seen on this site. Should i try to be getting him to lower his asking price? I know this is a bunch of info, but if you know a way i can exactly determine what the invoice price is compared to what he is asking it would be a great help. Much Appreciated, -Kevin
  • imjj4shortimjj4short Member Posts: 2
    Oh,Wise Ones who host this site...

    I test drove the H3 yesterday and talked with the dealer this evening. I don't have a GMID. This is the deal we put together (all on paper, but nothing yet signed, so I can still walk away if it is a bad deal). Do you think I am good to go without the GMID if they stick to the deal or should I try to get one and renegotiate?

    H3 1SC Automatic, Luxury, Chrome, Satellite Radio, Steps etc
    $36,805 MSRP
    $32,871 invoice (Edmunds)

    No trade.
    No money down (including first month, destination, etc.)
    Nothing due at signing.
    $495 a month including tax, license, etc
    36 months
    12,000 annual miles
    Yes, I was stupid and didn't write down the actual selling price...I think it was around 32,000.

    Any advice you can give me before I go down tomorrow would be appreciated!! I felt like I pushed the salesman as far as I could, but I am not sure...I would still like to get 15,000 annual miles. ;)
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    No problem, jhl1963. If you were to lease a 2006 Hummer H3 through GMAC right now for 36 months with 12,000 miles per year (I don't recall ever seeing a GMAC lease of a Hummer with fewer miles than this), its base lease rate and residual value should be 5.75% and 64%, respectively. Most banks that lease vehicles charge acquisition fees. In most states, GMAC's base lease acquisition fee is currently $595. Unfortunately this money goes directly to GMAC and dealers do not have any authority to waive it.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Congratulations on your new truck, jhl1963. Enjoy!

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  • zoomer6zoomer6 Member Posts: 1
    I am now enjoying the heck out of my new H3. I will provide the specs and experience below. Thanks to all on this site particularly Marblez. In December I received my GMID number and began seriously shopping closest to home, which is Putnam Chevrolet Hummer in Burlingame CA.

    My H3 Deal:
    Lux pkg.
    Adventure Pkg.
    Chrome pkg.
    Chrome tubular steps
    Brush guard
    Pwr. Sunroof
    Roof rack crossbars(brushed aluminum)
    DVD promotion (stated as $299)
    Color: Superior Blue/ebony
    MSRP: $39355.
    Invoice: $36611.68
    GMID price: $35824.07
    Payment out the door: $804.29 (first month & DMV reg. fees)
    Monthly total: 501. 54 ($463 + tax $38.22)

    I first called and confirmed they would accept the GMID and no problem. The DVD package and roof crossbars I negotiated to be added at no cost. They will be installed next week. As a last attempt to negotiate the price, I showed them a GMS price which was about five hundred less. They were not interested in reducing the cost anymore and said they could not offer the GMS price. To their credit they were very forthright in sharing the computer screen details and printouts of their finance data to show I had the true GMID pricing and all was above board. We even looked at invoice prices and GMID pricing across the country with similar H3s. Still, I need to feel I am getting the best deal I can and I stated that I knew they were not losing money on the GMID deal as they are rebated from GM for it. The finance guy looked up my invoice at a GM corporate internet site in front of me and discovered I was correct in asking for a reduction as the manufacturer had for some reason lowered the invoice by $78 (not the GMS level, but something). That reduced my payment a couple of bucks and we had a good rapport and talked about a bit about common interests and then the DVD pkg.. I then closed that we had a deal if he would include the DVD package. He attempted to show me that it was a $1400 item and their cost was $1200. I stated he was going to receive a reimbursement ($1000) from the manufacturer anyway so they weren't doing badly. He agreed to include the DVD and the cross bars which I had brought up to my salesman a day before.

    After cross referencing figures I believe I got the best deal that I could. I would have liked to have the $463 payment include taxes, but I could not get them there. Your feedback or questions are welcome and I hope this helps in your experience.

    All the Best,
    Zoomer6
  • anjony123anjony123 Member Posts: 11
    Can the admins or anyone comment if I am getting a fair deal on this base H3. I know how to calculate a lease myself and these number seems to work out.

    Here's their deal:
    MSRP $34,080
    Neg Price $31,692 (+acq fee $695 + $924 tax)
    Acquisition $695
    Interest %5.75
    Term 39mos
    Residual 65%
    Monthly $421
    10k miles/yr

    My questions are:
    1)I am a current GMAC lessee, does the acq fee still apply?I thought it should be waived
    2)Is including the tax in cap cost correct? I thought you calc the tax after monthly payment.
    3)Can you guys confirm if I have to pay $299 for DVD?
    4)any one know of any GM Loyalty rebate.

    thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello Cgmmny. Given the fact that this model has been selling pretty well, I'd say that GM's supplier purchase price is a pretty good deal on the Hummer H3. You certainly can shop around a little bit and see if you can do a little better than this price if you want.

    As far as making a down payment to achieve a target monthly payment goes, I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Hummer would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. You can always use the money that you would have used as a down payment to supplement your monthly payment or make a few of them for you if you want.

    Let's see what the lease payment is like on this truck. According to my calculations, if you were to lease a 2006 Hummer H3 with an MSRP of $36,295 and a selling price of $33,264.94 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $433. Look at that, this is such a good deal that you don't even need to make a down payment to get the lease payment that you were looking for. With this deal, at lease signing you would have to pay your truck's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, and GMAC's acquisition fee of $595.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi jorgedbernal. What a coincidence, you're the second straight person who is using GM's supplier purchase program to get a new Hummer H3. Given the fact that this model has been selling pretty well, I'd say that GM's supplier purchase price is a pretty good deal on the Hummer H3. You certainly can shop around a little bit and see if you can do a little better than this price if you want.

    Besides the selling price, which you should have all taken care of if you buy through the supplier program, the other main factor that impacts your vehicle's lease payment that dealers have control over is the lease rate. While many dealers mark-up vehicles' lease money factors or interest rates to add additional back-end profit to deals, I haven't seen many GM dealers do so. GMAC's current base lease rate for a 35 month lease of a 2006 Hummer H3 is currently 5.75%. I believe that GMAC uses a pass / fail system to decide who is eligible for this special fate, rather than having different rates for different credit tiers like some other banks do. GMAC is probably fairly lenient as to who it will allow to lease though this program. Whether you will be able to depends upon how dinged up your credit is.

    Using the prices that you mentioned in your post and GM's actual lease program, I estimate that your 36 month, 15,000 mile per year, zero down, pre-tax monthly payment for this truck should currently be around $420.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi Kevin. The fact that you have added so many options to this truck makes than normal it more difficult to figure out what its lease payment should be. Ordinarily one would take its MSRP and selling price and plug them into the lease payment formula and come up with a payment. In this case, not only do we not know what the MSRP is, we don't even know if all of the options that are on this truck can be residualized. Just about all factory-installed options can be residualized when leasing, but many dealer installed options cannot be. Residualization means that they can simply be added into your vehicle's MSRP and selling price when calculating its lease payment. Options that cannot be residualized have to be paid for in full over the life of a lease, making them very expensive. The lease payment that you were quoted definitely looks a little high, especially when compared to the payments that I just worked up for two other community members that were in the low-$400 a month range. It's difficult to say how much higher this payment is than it should be though. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You definitely should try to negotiate the lowest possible selling price on the truck that you want prior to having the dealer calculate a lease payment on it for you.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi imjj4short. I am actually surprised that so many community members are able to get GMIDs to purchase this truck with. Most people who are in the market for one will not have the luxury of purchasing it through GM's supplier purchase program. If you can get one, make sure you do so because it will allow you to get the H3 that you want at a great price without having to haggle. If not, you still can get a good deal on this truck, you'll just have to work (negotiate) for it. the actual selling price of this truck is a very important number to know. If you were quoted a price of $32,000 for it, that's below dealer invoice and is a heck of a deal. The dealer must be using the $1,200 dealer cash allowance that GM is giving out for free DVD systems to achieve such a low price. If you are actually able to get this truck for $32,000, it would result in an amazing 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $387.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Congratulations on your new truck, Zoomer6. Thanks for taking the time to make such a detailed post about your transaction. I'm sure that this info will help other community members. Enjoy!

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi anjony123. The selling price that you were able to negotiate on this truck looks very reasonable to me. Similarly, the lease rate that you were quoted for it is right in line with GMAC's current lease program. Unfortunately, I believe that even returning GMAC lessees have to pay an acquisition fee on the vehicles that they lease. The fact that you are currently leasing a GM product might have gotten your security deposit waived, but that is a moot point considering that GMAC is waiving its security deposit requirement on all leases of '06 H3s right now.

    I am not familiar with how sales tax is calculated on leased vehicles in your state, but you may be able to find out more informaiton on this subject by visiting the following sites: New Jersey Motor Vehicle Commission or NJ Taxation.

    GM is currently providing dealers with a $1,200 dealer cash allowance so that they can provide consumers with a free DVD system in any H3 that is sold. This covers the entire dealer cost of this option, so you should be able to get the dealer that you are working with to throw it in for free.

    General Motors is not currently providing any sort of owner loyalty cash on this model.

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  • imjj4shortimjj4short Member Posts: 2
    Thanks, Car Man,

    After seeing your numbers and reading some other recent posts, I think I see what the dealer is doing. The monthly payment quote I am getting from the dealer is about $100 more than the $387 you arrived at. However, they are supposedly paying all the up front costs so I am giving them absolutely no cash to drive away. I think they must be actually rolling that back into the lease to arrive at my $495 a month lease payment (including tax). The whole point of my paying nothing down was to allow me to pay the last 4 payments of my leased van. I really wanted them to take the van over so that I wouldn’t have to worry about it anymore but they didn’t want to. Is it dumb to let the first month’s payment, security deposit and acquisition fee be wrapped into the lease? Should I keep trying to negotiate or wait until the van is closer to being turned in? Reading the posts, $495 seems pretty steep per month for the H3. It seems possible to get the payments around $460 (including tax) but then I have to pay the up front money (first month's payment, security deposit, and GMAC's acquisition fee of $595).

    Thanks for all your help!!
  • miller14miller14 Member Posts: 9
    Hi, I am interested in leasing a 2006 H3. I have done a lot of reading and feel that I am informed on the leasing process; however, I do not understand what a GMID is and how you go about obtaining one. Is there any way that I can get this? If not, do I need this to get the best possible deal on leasing an H3? Thanks in advance for your help!
  • fafaafooiefafaafooie Member Posts: 1
    Hi Car Man- Would you happen to know yet if the lease rates will be changing for February? Also does $522/month sound right for a $39.5K H3, at 39 months, with 15K miles and $1200 out of pocket.

    Thanks

    FFF
  • msidmsid Member Posts: 1
    Hi All,

    Thanks for all the great information I have received on this board. I just leased an H3, with a GMID Certificate:

    My H3 Deal:
    Luxury Package
    4 Speed Automatic
    Chrome Appearance Package
    Roof Rail Air Bag System
    Chrome Fuel Filter
    Chrome Tubular Steps
    Brush Guard
    Off Road Suspension
    Trailer Hitch and Wiring
    XM Satellite (with 3 months service)
    DVD promotion
    Color: Superior Blue/ebony
    MSRP: $39,850
    GMID price: $33,622
    Monthly Lease Amount: 357.00 including taxes
    Includes 3K down for a 24 month lease with 12K mile
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're welcome, imjj4short. There's nothing wrong with rolling your vehicle's security deposit and acquisition fee into your lease payment. Doing so actually protects you from losing them in the event that your vehicle is totaled in an accident or stolen. Having said this, it does cause you to have to pay interest on charges that you normally wouldn't.

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi miller14. Unfortunately, if you don't know what a GMID is, you probably will not be able to get one. Basically what people who mention this are talking about it the ability to purchase a GM vehicle through its employee purchase program. If you know someone who works for General Motors, they can usually give you the ability to buy a new vehicle at the employee purchase price. you do not necessarily have to purchase through the employee purchase program to get a good deal on this truck, it just makes doing so easier because you don't have to negotiate. If you are just purchasing this truck on your own, comparison shop and try to negotiate the best possible price that you can before having dealers calculate lease payments for you.

    Car_man
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  • dogsambamdogsambam Member Posts: 69
    What state are you in? When you say includes 3K down, did you roll it in, or was this up front? Sounds like an amazing deal. My BMW's lease is almost up, and I am seriously considering the H3. I am still so weary of GM quality, but for this kind of deal, there is no thought.
  • ksolesksoles Member Posts: 19
    Thought I was ready to start posting my lease questions but then I ran into this,..

    My understanding of the GMID from what I've read here as well as other sites is that the GMID price is approx 1% lower than invoice and that is why some Dealers do not like to or will not accept the GMID even through they get reimbursed for that vehicle. I used NADA and KBB's vehicle builder (sorry Edmunds, you guys are missing options in yours) and each one of them came up with the same price details of the H3 I working on, $38,115 MSRP and $34,424 Invoice.

    But after getting my GMID, logging into the supplier site, locating the H3 we are working on, it shows the GMID/Supplier price is $34,874.47, but that is actually $450.47 higher than invoice? Is the GMID not always less than invoice?? Understanding GMID is usually approx 1% under invoice (or am I wrong?) wouldn't/shouldn't the GMID price of this H3 be more closer to approx $34,079.76 Vs actually being higher than the invoice of $34,424?
  • ksolesksoles Member Posts: 19
    Hello Car_Man

    Can you can me an example/idea of the GMAC 24 and 36 month lease based on the following numbers? This is what I am trying to finalize on the H3 we are looking at. Sticker $38,118 , deal $33,675 (GMID price minus $1200 DVD incentive). Using those can you advise me of the approx we could expect on a 24 and 36 with 12k?
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    I would be happy to help you out, ksoles. First, let's take a look at this truck's current lease program. If you were to lease a 2006 Hummer H3 through GMAC right now for 24 months with 12,000 miles per year, its base lease rate and residual value should be 5.75% and 73%, respectively. The numbers for an otherwise identical 36 month lease should be 5.75% and 64%. Using these numbers, an MSRP of $38,118, and a selling price of $33,675 (which is extremely attractive), I estimate that this truck's zero down, pre-tax monthly payments should be around $392 for 24 months and $397 for 36 months.

    Car_man
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  • ksolesksoles Member Posts: 19
    Car_Man

    Thanks!! Final question,..would you mind posting, or evening emailing the details showing how you came about that? I would really like to have a much better understanding of the lease worksheet and seeing the actual calculation break down would be a HUGE help! Plus the pre-tax payment that they gave me was a good $85 higher, so clearly they are not using the actual amount I'm being told or "others" are being added in somewhere for something by them! If you could post or email me the calculation break down of how you came about that would be great! Thanks again!!!
  • 67jeff67jeff Member Posts: 1
    Carman,

    Id also like to know how you come up with the payment figures.

    When I fill the info out at the gmac link from gmbuypower.com (smart lease stuff)

    or use

    http://www.leaseguide.com/lease08.htm

    i always get a much higher number than you.

    Also, where does GMAC publish its lease figures?

    thanks
  • humbudhumbud Member Posts: 6
    First off I am new here and you (hosts) have helped me so much! I am now in a position to want to drive a newer car all the time and after reading many posts here and Leasing info on your home page I am considering leasing. I have seen this touched on but not directly.
    My question; If i want chrome rims. Hummer offers them for about $900. On a 3y lease will I end up paying aprox. 40% of that? and the rest into residual value of truck? Next thought! Online I can buy a set of chrome rims AND tires (used 50 miles)for about the same as rims from dealer. What do you think?
    PS. IF the stock tires last 3 years and 45k miles and return the lease in with bald tires is this considered normal wear, or will i have to pay for new tires?

    THANK YOU so much.
    Bud.................. :confuse:
  • humbudhumbud Member Posts: 6
    First off I am new here and you (hosts) have helped me so much! I am now in a position to want to drive a newer car all the time and after reading many posts here and Leasing info on your home page I am considering leasing. I have seen this touched on but not directly.
    My question; If i want chrome rims. Hummer offers them for about $900. On a 3y lease will I end up paying aprox. 40% of that? and the rest into residual value of truck? Next thought! Online I can buy a set of chrome rims AND tires (used 50 miles)for about the same as rims from dealer. What do you think?
    PS. IF the stock tires last 3 years and 45k miles and return the lease in with bald tires is this considered normal wear, or will i have to pay for new tires?

    THANK YOU so much.
    Bud.................. :confuse:
This discussion has been closed.