Hummer H3 Lease Questions

marblez

Here is a link to GMAC excessive wear policies.

http://www.gmacfs.com/us/en/objects/pdf/SL_SB_Excess_Wear_Mileage.pdf

humbud

OK! Buy Or Lease? THATS the Question! We will go over mileage..20K a year total (5000over).
YOUR HELP NEEDED! sorry for yelling but I am pulling out what hair I got left!

Thanks Bud..... :confuse:

yoreet1

Please help me to find the best lease deal in New Jersey. People in Florham Park are giving me some outlandish lease numbers for H3 with luxury,chrome package on it.

Negotiated price is $33K
36 month lease is $588.00 per month. Ridiculous!

CarMan@Edmunds

You're welcome ksoles. I have created a spreadsheet in Excel that I use to calculate vehicles' lease payments. It actually is not that hard to do. Just use the formula that is outlined in the following article that is available here at Edmunds.com: Calculate Your Own Lease Payment.

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CarMan@Edmunds

Hi 67jeff. You can use the formula that is mentioned in the article that I provided a link to in my previous post to calculate the payment on any vehicle that you are interested in leasing. GMAC does not publish its lease rates and residual values anywhere that the general public can see them. It only gives this information to dealers.

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CarMan@Edmunds

I'm glad that you have found this discussion so informative, Bud. Different banks have different rules about what options can and cannot be residualized. GMAC allows the residualization of most factory installed options. There is a good chance that you can residualize the chrome rims that you are interested in, but I am not positive that you can. You will need to ask your dealer to find out for certain. If you are allowed to, you will only have to pay for a percentage of the rims that you want. GMAC's residual value for a 3 year, 15,000 mile per lease of a Hummer H3 is currently 62%. This means that you would only have to pay for 38% of the rims. However, if they cannot be residualized and you added them to your leased truck, you would have to pay for their entire cost over the course of your lease.

GMAC requires that its leased vehicles have at least 1/8 of an inch of tire tread remaining when they are returned. If your tires are more worn than that, there is a good chance that you will be charged for replacements. You can find out more information on GMAC's excess wear and tear guidelines by clicking here: GMAC Excess Wear Square.

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CarMan@Edmunds

Hi Bud. If you exceed your truck's mileage allowance, 15,000 miles per year is the highest mileage limit that GMAC publishes residual values for, you will have to purchase additional miles on a per-mile basis. It is less expensive to purchase additional miles at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. So you can still lease if you drive 20,000 miles per year, it will just cost more than a 15,000 mile per year lease. Even if you had paid cash for your truck you would be paying for these miles in the form of depreciation, so your high mileage requirement is not necessarily a reason to avoid leasing.

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CarMan@Edmunds

Hi yoreet1. GM has lots of Hummer dealers in the New York area so you shouldn't have too much trouble finding a dealer that will give you a good deal. The most important number to negotiate when leasing it your vehicle's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around with several Hummer dealers for the best possible price. Once you have gotten an attractive price quote, have the dealer calculate your lease payment using GMAC's base lease rate of 5.75%.

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saberd

Thanks for all your help. Two more questions. I used this lease calculator but was wondering how many miles per year this covered? I came up about $21 dollars short but the price the dealer quoted me is for 15K per year. This sounds like it might be the difference between a 12K and 15K lease. If you get GMS do you think a dealer will negotiate below this price? I'm trying to lower my lease payments by $20. Thanks.

pinoyhummer

Hello CARMAN, I got my birch white H3 last night and took it home using GMID pricing and leased it for 24 months with just the drive off fees. However, when I got home and reviewed the contract, I found out that the price of the installed DVD was not residualized (not included on the residual value), is this a common practice? DO I own the DVD since it was not part of the residual value? Or is it one of the requirements for the H3 DVD promo on a lease?

CarMan@Edmunds

You're welcome, saberd. Vehicles' residual values vary depending upon their mileage allowance. Vehicles leased with 15,000 miles per year have residual values that are lower than vehicles that are leased with only 12,000 miles per. Specifically, I believe tha GMAC's 15,000 mile per year residual values are 2% lower than its 12,000 mile per year residuals.

As far as your truck's selling price goes, generally speaking General Motors' GMS prices are fairly attractive. It is difficult to say whether you would be able to beat the price that is available to you through this program by shopping around, but if you are able to it probably will not be by much.

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CarMan@Edmunds

Congratulations on your new truck, pinoyhummer. Most manufacturers' captive finance companies, like GMAC, allow the residualization of all factory-installed options. While GM does have a factory-installed DVD player option for the H3, some units that dealers have contain dealer installed systems. If your truck's system is dealer installed, that might explain why it was not included in its residual value. I am not sure if GMAC allows the residualization of dealer installed DVD systems. Options like DVD players and Navigation systems generally tend not to hold their value as well as other options. As a result, most banks' residual values for vehicles equipped with these options are lower than models without them. Technically, you would own any option that your vehicle has that was not included in its residual value at the end of your lease because you have paid for its entire price.

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rynpamn21

I just came from Cerritos Hummer a few hours ago. This is the quote I got.

06 Hummer H3 Base
MSRP: 31745
$4,000 incentive - 27745
MOney Factor they said it was a standard 6.75% = .000281
residual $20345 or 64%
quoted me with $393.62+tax with $800 drive off fees.Includes 1st months payment.

Can I get a better deal? Can I have them roll the $800 into the deal. Are all the numbers right? I inputed the numbers into the lease calculator of leaseguide.com and came up with 340.86 a month with tax. Help Ca_man or anybody please

dogsambam

I got qouted $399 per month before taxes and additional fees of aquisiton and 1st month on a 27 month lease with 12000 miles a years. Sticker on car is $36470, sell price in $33300. I will roll in taxes. Should I be able to get this number lower? Should I try to get a GMID? Please advise. My feeling is that the number should be able to get a little lower?

jstango

I am looking for 15,000 Miles a Year. 27-36 0r 39 Months.
Can anyone tell me the Residual Value and Rate Factors or Rates for these Lease terms on a H3. I am in Florida.

PLEASE HELP!

Thanks!

CarMan@Edmunds

Hi dogsambam. A base 2006 Hummer H3 has a spread of a little over $2,300 between its full MSRP and dealer invoice prices. You are being given a discount of $3,170 on the truck that you are considering leasing. Unless you currently own one of the trucks that qualifies you for the $1,000 conquest incentive that Hummer is currently running on the H3, I suspect that this is fairly close to all the discount that there is to be had on this truck. Of course, if you can get an ID that allows you to purchase through GM's employee purchase program, you guarantee that you are getting a good deal.

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CarMan@Edmunds

Hello jstango. 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 5.75% and 62%, respectively.

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carrie3

Is the dealer reimbursed by GM for the $1,000 conquest incentive? My dealer is only discounting a base H3 $33,855 MSRP -1,000 discount -$1,000 conquest cash(I own a Ford Explorer)=$31,855. Should the conquest cash be included in the $2,300 spread or should that be on top of it? Thanks for any advice.

carrie3

We decided on a different H-3 than my last post.
Here's the offer:
Red H3, Luxury Pkg. Adventure Pkg, Chrome appear Pkg., sunroof, brushguard, side airbags, monsoon stereo, etc.
MSRP: 38,600
GMID price 35,000(Thanks Paul)
conquest cash -1,000(I own a Ford Explorer)
base cap cost 34,000 (happy with this #)

lease quote(GMAC):
39 months/34,000/0 down
63% residual value
APR 6.75% (dealer is adding 1% for themselves to GMAC's 5.75%)
MO sales tax rate is 7.075%
MO personal property tax (roughly 1/3 market value x 7%)
Monthly lease payment $510 (I can't figure out how they're computing this)
$595 GMAC admin fee + 1st mth lease pmt due at signing

1. Is that normal for the dealership to add a point onto the interest rate for themselves?
2. Do personal property taxes usually go into the lease payment? If we purchased the car we wouldn't owe PPTax on it until December 2007(based on property owned on Jan.1 each year)!
3. When I run these #'s through leaseguide.com I come up with $430 before personal property tax. I guess the difference is PPTax $80/mth?

I'd appreciate any advice! I want to go buy it soon! Thanks in advance, Carrie

romankory

I planning on leasing a H3. What i wanted to find out was the following. What is the Amount of the GM Employee discount and the amount of the GMID discount. I tried going to the web site listed on earlier posts however it did not show it.
Next, when you use GM Employee or GMID discount is the price set. Or are you still able to negotiate the price of the vehicle and then apply the discount afterward?

the one i'm looking at has a MSRP pf 33,825 (before any discounts applied). what kind of price should i expect to get after rebates (gm and conquest) and and price off sticker by dealer.

romankory

Another question. When is the 2007 H3 model year coming out? as that date approaches will the price on the 2006 fall?

CarMan@Edmunds

Yes, carrie3, the $1,000 conquest incentive comes directly out of GM's pocket and should not have any impact upon the dealer discount that you are able to negotiate. Negotiate the best price that you can on this truck before incentives are taken into account and then have the dealer subtract the conquest cash from that figure.

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CarMan@Edmunds

Hey Carrie. Dealers often try to "mark up" vehicles lease rates and lease money factors. Just because this is a common practice does not mean that you should let this dealer do it on your deal. Consumers who know what the base lease rate or money factor for their vehicle is can almost always get the dealer that they are working with to agree to use it to calculate their lease payment. It's better for a dealer to lose the mark up than to lose the entire deal. $80 a month sounds like an aweful lot for tax. Let's estimate what this truck's lease payment should be and see what we come up with. According to my calculations, if you were to lease a 2006 Hummer H3 with an MSRP of $38,600 and a cap cost of $34,000 (through GMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $419. As you can see, the payment that you were quoted looks too high. Make sure to find out why.

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CarMan@Edmunds

Hi romankory. If you purchase a GM vehicle through its Employee Pricing program, the price is set and there is no negotiation. You should be able to find out all of the information about this program that you need, including the price of the exact truck that you want by logging in to the following site: GM Family First.

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CarMan@Edmunds

Hi again romankory. The price of 2006 Hummer H3 models should fall when the 2007 model is introduced as dealers try to unload their leftover inventory. Having said this, if you are purchasing through GM's Employee Purchase Program your price will not change.

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ksoles

Car_Man, your knowledge and replies are awesome!!! Thank you from all of us! LOL,...can I pick your brain for few now? The H3 we are going to try and go after is MSRP of $38,115 , with my GMID it is $34,871.10. Also using the conquest $1000 making it $33,871.10. Can you please tell me which GMAC residual and base lease rate/money factor combo would come out best on a lease payment? Would it be 24, 27, 30, or 36 month term using 12k per year and doing 1st payment and plate at signing? Can you run your magic and give a heads up on pre-tax payment for each of those terms and what the residual and money factor should be on those so we can see of the Dealership is padding or not?

rtgq

Hello everybody,
I have been reading the posts for quite some time and really appreciate all the information. Thanks to all of you I not only learned about the GM pricing and what it is and how it could greatly reduce the cost of my vehicle, I found a way to get one. So now that I have my GMID and found the vehicle I want and have an appointment to "talk" with the finance people on Saturday. I just have a couple of questions if you don’t mind:

1) My girlfriend seems to think that I will not be able to achieve the price or the lease rate that I am seeing on the GM financing page she thinks that it will be much higher. Is that possible or can I just walk in with my GM price and not have to worry about it, I am not good at negotiating.

2) They told me that the conquest incentive ended on 5/25 (I have a ford explorer) can anybody confirm that or has GM extended it (I hope)?

3) I read a while ago that if the vehicle has been on the lot since October of 05 that there is $1000 bonus cash on it, is this still true and if so do I have to tell the dealership or will they just take that off the price

4) Is there anything that I am missing or should be aware of when I go, I have never leased before, I have only purchased in the past. I have read a lot of your posts and answers about residual values and finance rates so I think that I have informed myself as best as I can.

Thanks everybody

Russell

rtgq

Oh and one last question, which do you guys think is best the smart lease or smart buy???? If I was planning on buying it at the end of the 36 months regardless, the smart buy seems to come up with a cheaper monthly payment.

Thank You

Russell

dogsambam

I was considering the H3, which I still think is an awesome car, but I decided to stay with BMW. I have to say, you can pretty much dictate your price. A hummer dealer in Northern ILLinois jumped through hoops to get my business, and actually I got them down to 399 month for 24 months including taxes, first month and aquision upfront only. I probably could have gotten a little lower, but then decided to get another BMW. The car had Auto, lux package, side steps, sunroof and whatever else would bring it to around 37500ish. REMEMBER, DICTATE YOUR PRICE or WALK. I know the dealer I went to had lots and lots or H3s on the lot. Complain about the gas mileage, the power, and that your wife does not want you to have the car.

rtgq

Thanks for the advice, and that deal sounded pretty good for that hummer considering the MSRP. I'm looking at a base no frills kinda thing they have one here and with my GMID price is about $27,900 - $200 for a dealer promotion, and I'm hoping another $1000 for the conquest incentive if that is still going should bring me down to $26,700, and the long shot is if has that $1000 bonus cash from last year on it would get me to 25,700 and then I would be sooo happy. according to the GM finance calculator with it being at 26,700 I should be around $300 before tax. That is my target payment. I hope thats not asking too much. And your right it's either that or I will walk because in all reality I really don't need it I just really want it. We will see tomorrow for certain either way.

ksoles

Well I was able to find out that the new June residual for the 27 month 12k term is a 72%! That there is now a $1500 rebate for 1SB (adventure series) equipped H3's!! BUT I still can NOT find out or get an honest or straight answer out of the dealership on the money factor from GMAC with that 27 month/12k year program!

Car_Man can you help!?!?!?

hartt

Car_man,

Can you please provide the numbers for a 3yr./45K mile lease on the H3.
Also, what about 27 months? A local dealer keeps running an ad for 27 months. Is that better?
Thanks.

ksoles

I am trying to find that as well b/c my locals dealers are all doing the same thing, pushing the 27 month term big time! Has to be something higher than the other or special about the 27 month term..... Car_Man????

As for the other terms I was able to find those,

24 mo/15k mi – Residual Value 72% of MSRP – .00240 Base Money Factor Rate
36 mo/15k mi – Residual Value 62% of MSRP – .00240 Base Money Factor Rate
48 mo/15k mi – Residual Value 52% of MSRP – .00240 Base Money Factor Rate

24 mo/12k mi – Residual Value 73% of MSRP – .00240 Base Money Factor Rate
36 mo/12k mi – Residual Value 64% of MSRP – .00240 Base Money Factor Rate
48 mo/12k mi – Residual Value 54% of MSRP – .00240 Base Money Factor Rate

morganj

Any chance that I could get a GMID cert as I am going to either buy or lease an H3 in the next few weeks. I want an H3 with a luxury package, chrome, all the extras.

lonald

Car_man,
I have been reading your posts for a few weeks and decided tonight to get your opinion....
I like the h3 seams like a great truck to me, and i am also considering the explorer. I feel the explorere is a better truck, and is also wider. I sat in the h3 today and felt it was narrow. Am i wrong here?
ALso i have afew questions as far as leasing is concerned as i hope to get this truck or the explorer this weekend..
If you dont mind can i drop you an emaail???

Thanks very much!
Lonny

CarMan@Edmunds

Thanks ksoles . 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 would be 5.75% and 73%, respectively. The numbers for a 30 month lease of this truck should be 5.75% and 68%. The numbers for a 36 month lease of this truck should be 5.75% and 64%. I don't know how the truck that you are interested in is equipped, but if it has the Adventure package there is an additional $1,500 dealer cash available on it.

Using the aforementioned lease program, an MSRP of $38,115, and a selling price of $34,871.10, I estimate that this truck's 12,000 mile per year payments would be $444 for 24 months, $445 for 30 months, and $434 for 36 months. I didn't take GMAC's $595 acquisition fee into account with these calculations. You will either have to pay this charge at lease signing or add it to your truck's capitalized cost.

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CarMan@Edmunds

Hi Russell. You were smart to get a GMID if you are not good at negotiating. It will enable you to get an attractive price on the truck that you want without haggling at all. The $1,000 conquest cash incentive did not expire, so make sure to insist that it is taken into account on your deal. The bonus cash for vehicles that have been on the lot for a long time no longer exists. However, a couple of weeks ago GM introduced an additional $1,500 dealer cash on H3 models that are equipped with the 1SB option package.

Since you have never leased before, 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.

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CarMan@Edmunds

Hey ksoles. GMAC's special lease rate for the 2006 Hummer H3 is 5.75% for leases up to 48 month in length.

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CarMan@Edmunds

Here you go, hartt. 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 5.75% and 62%, respectively. The last couple of posts discuss this truck's 27 month program. I wouldn't say that this truck's 27 month lease is better, its lease rate is actually exactly the same as the 36 month rate.

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CarMan@Edmunds

Hi Lonny. The H3 and the Explorer are both decent trucks, though ones that don't exactly get great gas mileage. You really can't go wrong with either of them. Feel free to shoot me an e-mail, but it would be better if you posted any questions that you have in this discussion so that others can learn from our conversation.

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louie5

Alot of H3 sitting in the lots ,here in Conn. Mass. and NYC area. GM or Hummer has to do something to sell or lease these trucks. Anyone seeing this also ?

louie5

RUMOR, Breaking news from GM on June,28th concerning H3?....Louie again.

h3shopper

I have a good idea of what it is.

ZERO PERCENT FINANCING.

Dealer just offered it.

:surprise:

louie5

h3shopper,I don't believe 0 percent will move inventory. Something else is needed.Watch for a sales event by July 20. General Motors has huge problems,and must make changes in the next 25 days. Wait and see ...Tommy

louie5

Bonus cash for Hummer h3 (2k) ,does this apply to leasing. I'm holding out for a 2yr lease with 15k mileage, and get the monthly payment below 500.00. ....Louie5

jay_p

Hi - Just looked at an 06 H3 base trim level. I'm eating ~800 on my trade-in, but get 2000 incentive and GMS pricing. Quoted lease is 344/mo at 12K miles, 27 months. Do I have any opportunity to squeeze anything else out as I already have GMS?

Thanks for your input -- jay

mr_anton89

are there any options on the H3 they quoted you on? Also, is the conquest cash still available with the $2,000 rebate?

ksoles

Waiting paid off for sure!! I have been back and forth with a local dealership for a little while now and was never happy with the numbers or details they came up with. Got my list together of what I've learned this past month through this and other H3 sites I've been around, and now own a H3! With the 07's only a like 2-3 weeks away from hitting the lots this same dealer went from a take or leave attitude, to please please take this and tell me what else can I do for you to buy it! Long story short of the dealing part...

06 Adventure Series
- Black
- Ebony
- Auto
- Roof rail airbags
- Sunroof
- XM
- 6 disc in-dash changer with monsoon system
- Chrome appearance package (handles & mirrors)
- Chrome adventure wheels
- Gas cap cover
- Chrome side steps
- Roof bows
- Front brush guard
- Trailer hitch and wiring harness
- Mudder floormats
- Mudder cargo mat
- Cargo cover

Decided to just to a lease Vs buying b/c of the number of upcoming changes on them. After the back fourths of the typical "let me see what I can do" and after pointing out or bringing up of the different tricks etc. we closed the deal. I have to say I'm still patting myself on the back on this one, lol! This really only the 1st time I can honestly say I feel a got a very good deal on a car/truck and knew just how to work with them! Just amazing what can learned if you put just alittle of real time into it!

Sticker on it was $39,125 , we drove away with $382 per month (tax in), 15k year, 27 months, and total of only $500 out of pocket! A month ago the best they were willing to do was "around $520 + tax" and that was on a H3 with MUCH less equipment!

hartt

Where are you located? Can you please give the dealers name?
I have also considered an H3 but they were no where close to where I wanted to be. I also want to lease. Can you tell me the specifics of your deal like MF, Residual %, and your cap cost?
I'd be real happy with that deal.
Thanks.

louie5

Excellent deal,good luck! ...louie5