Hummer H3 Lease Questions

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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello louie5. Yes, bonus cash is compatible with GMAC's special lease program. This promotion is scheduled to end today, July 5th. Please feel free to check back with me later on this week and I will be happy to give you an idea of what the new July program for this truck is like.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Congratulations on your new truck, ksoles. Thanks for taking the time to share the details of your deal with everyone.

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  • louie5louie5 Member Posts: 15
    I received a quote ,yesterday. Salesman said $498.00 a month,15k miles for 24 months,with $998.00 at signing. I did a quick inventory for my area( CT MA RI NY)came up with over 230 H3's "I WILL WAIT " ...Louie5 (research pays off !)
  • looking4h3looking4h3 Member Posts: 2
    I've just started the search for a H3. It doesn't seem as if the dealers want to "deal" as I've so far been getting a take-it-or-leave-it attitude. Also if I understand correctly, one doesn't lease an H3 from GM, one makes a "smart buy purchase" that has a balloon payment on the end.

    Any assistance would be greatly appreciated.
  • louie5louie5 Member Posts: 15
    In what area are you located? Use the "Inventory" search has a tool to bargain with! Any problems I'm standing by to help....louie5
  • looking4h3looking4h3 Member Posts: 2
    I'm in Dallas. There are lots of H3s on the lot, but the dealers seem to want MSRP. The two dealers are owned by the same -- Sewell. What "inventory" search are you writing about? I'm new to GM and all their products. Sorry to seem so stupid!
  • louie5louie5 Member Posts: 15
    Here's the inventory for your area.Fort Worth=50 Grapevine=50 Plano=50 Dallas=50 There are 200 H3 in your area! Just sitting in the lots! I don't know what the dealer pays but they aren't making money siting there. You are in an EXCELLENT bargaining position!!! louie5 bravo-over
  • abuaishaabuaisha Member Posts: 15
    Hello car_man, first of all thanks for all you good work!
    I am looking to lease or buy an H3 MSRP is about $38,500.
    27mnths $1000 down, 15k/yr, i went to the dealer, sat down with the desk guy, he gave me 420 incl tax, told me he was splitting the difference between holdback and invoice, which i think came out to be nearly $33000, i think the rate was 3.75% now post #152 got more expensive car for $40 less/mnth and $500 less down, should i just go to the dealer and tell him to get me this same deal as post#152? do you think this deal is doable? should i go there and tell them give me this deal or no deal at all? or the deal the guys are giving me is fair as it is?
    Also i would like to term 10 pmts on my other lease which totals about $4100, is it possible? putting $1000 down, 27 mnths 15k yr and having them to cut a check to my other lease for $4100? obviously the payment will change. But can they do that though? Because he told me the cant, because that puts the cap cost over sticker.
    Thanks a million!!!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're welcome and thank you abuaisha. I believe that Hummer's latest and greatest base lease rate for the 2006 H3 is 3.45%. As far as this truck's price goes, a base 2006 Hummer H3 only has a spread of around $2,300 between its full MSRP and dealer invoice price. You were quoted a discount of $5,500 on the truck that you are considering. This is an outstanding price for a lease of this truck. In fact, it is so low that I would not be surprised if you never mentioned that you want to lease to the dealer. They may be taking the $2,000 customer cash that is available on the '06 H3 into account. Unfortunately, this cash is not compatible with GMAC's special lease program.

    I see that you are trying to get out of the last 10 payments of your current lease. This is going to be very very expensive to do. I personally would wait until I was closer to the scheduled end of my current lease to get something new if I was in your situation. If you are bring given a discount of over $5,000 it would be possible to roll $4,100 in charges from your current lease into your vehicle's capitalized cost, but doing so would be very wasteful and cause you to pay way more than you should for your Hummer.

    Car_man
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  • louie5louie5 Member Posts: 15
    I'm waiting, the days are passing. I can feel more incentives coming soon! louie5\delta -over
  • hooperaushooperaus Member Posts: 1
    Hey car_man! Great forum! Based on discussions posted here, it seems that very nicely equipped '06 H3s are leasing right now around $420 -$450/month (all inclusive, 27 months, or so) with around $1000 down. I have looked at a couple of '07 LUX Series H3s with leather, nav, chrome, and sunroof. MSRP of $38,500 or so. I've been quoted just about $570/month for 36 months (all inclusive, no money down) so that seems kind of like a rip-off. Is it that there are good deals now on '06 H3s because the '07s are rolling out? Or is it I'm just getting a bad deal all around? I would like a lease of less than 36 months. Also, the truth is, I only need 12K miles per year, but if the diff. for 15K miles/year is negligible, I'd take that.
  • louie5louie5 Member Posts: 15
    looking4h3, how is the H3 search going,keep us posted! louie5/bravo-over
  • re_agentre_agent Member Posts: 2
    Currently have 03' Lincoln Navigator with 73K miles that I owe $28K on and am currently financed at 14.9% for a healthy payment of $732/mo. Need at least a mid size suv so I'm looking at the H3. I live only 4 miles from my office so a lease sounds attractive to me. Problem is I am only getting about 20K for trade in value on my truck. I realize that neg. equity greatly affects my payment, so I expect to pay more. I have been quoted $595 for 48 month lease with my trade and $2500 at inception from a local Hummer dealership here in the Atlanta area. I am waiting to hear what the miles, adj. cap, residual and money factor are but currently have only received the payment amount, length of lease (48 months) and the fact that it is a lUx model H3 with several options (sunroof, chrome wheels, chrome appearance, etc). I really need to get my payments down and don't mind leasing. Should I look elsewhere or this a decent deal given my negative equity? I can always refi into a better rate thru my credit union but I will still have a 03' truck killing me on gas and owing alot more than it is worth? What should I do? Thanks a ton in advance.

    RE Agent
  • louie5louie5 Member Posts: 15
    What's the back-up inventory in Atlanta area? ......... louie5/bravo -over
  • re_agentre_agent Member Posts: 2
    I am dealing with the salesman over email as I want to crunch the #'s before driving all the way over there. He dos not want to give me residual, money factor or cap cost unless I am in person but has quoted 12,000 miles, 48 month lease at $595 a month + tax and I know I am about 10,000 upside down (not by edmunds, mind you, by other dealerships appraised trade value). So I came up with the following:

    MSRP: $38445
    Base Cap Cost: $34445 (advertised $4000 deduction)
    Costs added to lease: $10000 (negative equity)
    Cap cost reductions: $2500 (they want $2500 at inception)
    Adjusted cap cost: $41945
    Residual value: 54% or $20760
    Money factor: .00240
    Term: 48 months

    Pre tax cost: $595 a month

    Couple of questions.....can I get them down anymore? I would REALLY like to get the payment lower and also have the in-dash navigation system but it is a $1570 option.
    I also want to do the deal with little out of pocket.

    Also, how can I find out about the level of inventory of H3's in the Atlanta area?
  • louie5louie5 Member Posts: 15
    re-agent, I counted 111 h3's (20 mile radius)..I hear dealers are now reducing lease payments,waiting for confirmation (2007 H3's are on the way!) ....louie5/bravo - over
  • drivin2fstdrivin2fst Member Posts: 3
    What are the current offers on Hummer H3 Leases? I'm interested in a 27 and 39 month lease with 12k a year.

    Thanks,
    Kevin
  • drivin2fstdrivin2fst Member Posts: 3
    Local dealership is offering an 06 H3 with an MSRP of $31,585 (base/auto) for $288 month for 39 months on a 10k a year lease. Taxes, Doc fee, acq fee, and $700 are due at signing.

    Why is this deal so great compared to others out there? Am I dumb to put taxes down to take this deal?

    Thanks,
    Kevin
  • clopayclopay Member Posts: 1
    I was offered the following deal.
    First let me tell you that was are dumping $2283 of my old car into the payments.

    MSRP $36,360
    27months
    15k miles
    inception fees ($1618)
    $499

    Remember that we are putting $2283 in payments back into this lease to get out of my old car.

    Is it worth it or not? Does anyone know of a good dealer in NJ.

    I want to lease the car this weekend or should I hold out, anything advice is appreciated. Please comment on the price and if it is worth it.
  • nissan350znissan350z Member Posts: 81
    I just bought a base H3 from James Hummer Outlet in Flemington NJ. I had to work for the numbers but I did get the numbers I wanted.
  • drivin2fstdrivin2fst Member Posts: 3
    What was the deal you ended up getting?
  • nissan350znissan350z Member Posts: 81
    Almost $31,000 OTD. MSRP was $34,000 with all the add ons. I had the suppliers discount from my company as well. I also took the 0.0 over 5 years too.
  • louie5louie5 Member Posts: 15
    Leased a 06 H3 today! 27 months with 15k annual miles at $471.00 a month,and $895.00 at signing. MSRP was $36;460.00(1sc)Superior Blue. It was for the Wife,and she overjoyed and calls it her "Command Vehicle"...louie5 over/out
  • BobL242BobL242 Member Posts: 29
    I read in post #134 the guy got a GMID. Would someone be kind enough to tell me what a gmid is? Thanks in advance.
  • louie5louie5 Member Posts: 15
    Someone who works for GMC or one of it's suppliers....louis5/bravo....over
  • egospaegospa Member Posts: 1
    Just left the dealer and we thought we should do some quick research before we go back in a few days. Here is what is being offered.
    For vehicles under $32000 MSRP (Base Model)
    $299 per Month
    36 Month
    10,000 miles per year
    with $2999 due at signing

    Our plan is to get one of the models with some good bells and whistles taking the price up to about $38,000
    Our questions...
    1. Is $2999 due at signing negotiable?
    2. Any good tricks to bring to the table when talking lease?
    3. Any advantage to a shorter lease?

    Thanks for the help.
  • pipe23pipe23 Member Posts: 2
    I would like to purchase a H3 but don't know a Gm employee to take advantage of the discounts….Would anyone be able to supply me with a GMID number???? Thank you for the help…

    Pipe
  • chuck68516chuck68516 Member Posts: 195
    egospa, the amount you put down is totally up to you. Most dealerships, including the one I leased from, only require you to pay the first monthly payment. Things to be aware of:
    1. The residual value is going to change based on the length of the lease. I was first quoted on a 39 month lease. When I found out that the extra 3 months dropped the residual value from 62% to 57% I quickly decided that is the "sucker" deal. On the vehicle I was looking at that would have been over $1750 difference. I would avoid any of the 27 or 39 month deals.
    2. Make sure you ask about the acquistion fee and documentation fees. Initially I was talking to another dealer and he told me there wasn't an acquisition fee and I couldn't understand why I was coming up with different monthly payments than he was. Turns out he put $595 acquisition fee in there.
    3. Probably the most important of all is the money factor or APR. This is used to determine your "rent charge" or "usage charge" depending on wording. My dealer actually had it figured as an APR but if it is a money factor it will be APR divided by 2400. So it will be a decimal point figure like this (0.0014375). I ended up getting this or 3.45% APR. This figure can drastically change your monthly payment. It is multiplied by the net cap cost plus the residual value.
    4. Some of the dealer installed options can't be residualized. So for instance you are paying 100% of the cost for the black roof rack and the floor mats. Supposedly GMAC will not let them residualize the cost of those options. I had 2 dealers tell me this so I assume it is legit.

    My deal ended up being pretty sweet. I was talking to 3 dealers and the one I chose gave me 3.45% usage charge for 36 months with residual 62%. My monthly payment is $383.28 on a vehicle MSRP of almost $35K. I'm happy.
  • captchanceycaptchancey Member Posts: 6
    Hey you guys,

    I am getting the major run around here in FL. Reeves Hummer in Tampa told me the lowest they would sell un H3 for is $1500 under msrp. The lease prices I have been getting is $500 plus tax on a 27/15K lease with first months and LR. I had to tell Reeves and Dew Hummer that I guess they just weren't interested in selling a vehicle. I even let them know my wife's lease was up on Monday on her Tundra and we had to have a Vehicle.
  • captchanceycaptchancey Member Posts: 6
    I just got back from Vera Hummer in Pembrooke Pines, FL with our new H3 Black Lux Hummer. I called around and got the run around. Vera was the only dealer of 4 that called back and said let's get it done. I drove 140 miles to get the H3 from them. The deal we ended up with was 650 out of pocket for first months and tag ($428 a month for 36month/15k mile a year). The H3 msrp stickered at $35,328 or something very close to that. I wanted a deal in the area of Ksoles but this was the best I could come up with. We are happy for the most part.
  • rvmanrvman Member Posts: 3
    I dont have a GMID certificate and do not know where to get one...based on this, what do you think the lowest monthly lease payment would be on an HUMMER H3 with an MSRP of $38200. What should I expect as a discount? Can I use the $1200 DVD money toward lowering the selling price?

    Thank you very much...rvman
    (what dealers are offering the best deals now???)
  • bear70bear70 Member Posts: 1
    Ok I plan on getting a H3 and I plan on getting into it for 29,500.00...thats GMID plan (thanks Paul!!!) What would be a good lease for 24 months on 29,500 H3???

    What should my monthly payments be?

    thank you

    Frank
  • chuck68516chuck68516 Member Posts: 195
    I don't mean to be an a-hole or anything but to those of you who are posting questions that aren't being answered, try being more specific! You can't just say "How much is a lease on a GMID price of $29,000?" To calculate a lease you will need MSRP, GMID or negotiated price, money down, trade-in, APR or usage fee, security deposit, acquisition fee, term length, residual value, tax rate, etc. It isn't just a vague guess it is a mathematical equation. If you want someone to respond provide some information.
  • suv_shopper1suv_shopper1 Member Posts: 2
    Great info on this site!

    I would like to know what the current APR and Residual values are on a H3 lease for a 23 mo, 27 mo, 36 mo, and 39 mo lease. The lease will be for 15,000 miles or 18,000 miles a year if available.

    Thanks in advance!
  • heather77heather77 Member Posts: 5
    Hi,
    How are you.
    Can you provide me a GMID cert please? My Birthdate is 10/16/77 . Please email me for the 4digits of SSN?

    Thanks
  • msagowitzmsagowitz Member Posts: 1
    I am really interested in an h3 lease. I have limited credit, however my credit is not bad and I just bought a new car from Toyota using 'first time buyer' financing. Does gmac do anything like this? I am interested in a basic 3 year lease...does anyone have info about a gmac finance program for limited credit? Thanks
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    I'm glad that you enjoy this forum so much, hooperaus. GMAC's lease program for the 2007 Hummer H3 is pretty good right now. I am not intimately familiar with what the market is like for the 2006 H3 right now, but I suspect that they can be had for fairly close to dealer invoice given the fact that the 2007 model is out. I would be happy to give you a detailed analysis of the lease that you were quoted if you provide me with the full MSRP and approximate selling price of the truck that you are interested in.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello RE Agent. It is difficult for me to give you a detailed analysis of this deal without knowing the full MSRP and selling price if the Hummer that you are considering leasing. These are very important numbers for you as a consumer to know because they show you how much of a discount you are bring given and will enable to estimate what your truck's lease payment should be. The $8,000 in negative equity that you have in your current truck will cause you to pay much more for your Hummer lease than you should be. In fact, I highly doubt that you will be able to bake all of your current truck's negative equity into your new lease. It is likely that you will have to pay several thousand dollars out of your own pocket to trade in your Navigator right now. Normally you would be better off keeping your Navigator until you are less upside down on it, but the 14.9% interest rate that you are paying on it is pretty high. Your least expensive option is probably to refinance and continue driving the Gator. If you are worried about high gas prices, you're barking up the wrong tree with the Hummer anyhow.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hey re_agent. The $4,000 customer cash that is currently available on the Hummer H3 is not compatible with GMAC's special lease program for it. The only way you will be able to get this cash is if you lease through an independent bank that has a less attractive lease program than GMAC does. Leasing through an independent bank may be the only way for you to bury the negative equity that you have in your current truck. You could knock out $4,000 of it with the customer cash, another $2,500 or so of it my paying full MSRP for your new truck (yuck), and then making a down payment to cover the rest (double yuck). You'd be doing yourself a favor by refinancing your truck and keeping it until you are less upside down.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Greetings Kevin. If you were to lease a 2006 Hummer H3 through GMAC right now for 27 months with 12,000 miles per year, its base lease rate and residual value should be 3.45$ and 72%, respectively. The numbers for an otherwise identical 39 month lease should be 3.45% and 63%, respectively. I would be happy to use these numbers to estimate what the lease payments would be for the truck that you are interested in if you provide me with its full MSRP and approximate selling price.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi Kevin. I personally would rather bake sales tax into my vehicle's monthly payment than pay it at lease signing. I say this because if your leased vehicle is totaled in an accident or stolen and never recovered you don't get a refund for the sales tax that you paid on it. I would be happy to give you my opinion of this deal, but it would be a big help if you would provide me with this truck's selling price first. This is a very important number for you as a consumer to know because it shows you how much of a discount you are being given.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi rvman. I am not intimately familiar with what the market is like for the H3 right now, but given the fact that 2007 models are already on sale I suspect that you should be able to get a leftover '06 model for fairly close to dealer invoice.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi Frank. I would be happy to estimate what this truck's lease payment should be for you, however in order for me to so so I need you to provide me with its full MSRP. Let me know and I'll crunch some numbers for you.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Welcome, suv_shopper1. I am glad that you enjoy this site so much. Here is the information that you are looking for. GMAC's current base lease rate and residual value for a 24 month lease of a 2006 Hummer H3 with 15,000 miles per year are 3.45% and 72%, respectively. Its lease rate would be the same for the other terms that you mentioned, but its residual values would be as follows, 71% for 27 months, 62% for 36 moths, and 61% for 39 months. 15,000 miles per year is the highest mileage allowance that GMAC publishes residual values for. If you need to drive more than this you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi msagowitz. While I cannot say for certain that you will be approved to lease a new vehicle through GMAC, I can tell you that it is usually fairly lenient in who it approves to lease and finance new vehicles. Even if you have limited credit, if your credit score is in good shape I suspect that GMAC will approve you to lease a new H3 at its best available interest rates.

    Car_man
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  • 1fastmx51fastmx5 Member Posts: 1
    OH NO.. Did I Just Screw-up????I just leased an 06 Hummer but didnt find this site till after I signed the deal that same night. I think I f'd up.. How bad did I do..?

    From you site link..
    MSRP*:$37,865.00
    Supplier:$34,564.21
    Current Offers:-$2,500.00
    Net Price:$32,064.21

    WHAT I GOT..
    MSRP*:$37,865.00
    Gross Cap..........$36,008.87(lic/reg/title$140.57..sales tax $726.30
    Cap cost reduction $825.00
    Adjusted Cap.......$35183.87
    Resid Value........$28020.10
    Depreciation/Amort.$7163.77
    Rent Charge........$2516.27
    Total Base Pay.....$9680.04
    Lease Payment......27 mo.
    Base monthly Pay...$358.52

    Due at signing 2243.52 includes..
    Cap cost.....$825.00
    First pay....$358.52
    Title/Reg/Tire $290.00
    Doc fee.......$75.00
    Acquisition....$695.00
    10,000 miles a year
  • yfzrider32yfzrider32 Member Posts: 1
    Hello Everyone,

    I had a friend all set up a few months ago with a GID number and have been working with a dealer on an off for about a month on pricing/leasing terms. Finally am serious with the latest discounts and just my luck, my friend switched jobs... aughh. Anyone have available or know where I might attain one... willing to share in the savings.

    Thanks in advance! yfzrider32...
  • knuckles9975knuckles9975 Member Posts: 2
    This site is AWESOME. Things like this make me think too much so I figured I's ask to see what everyone thinks...
    We are looking for a base pacakge manual trans to lease. I do have a GMS# and am not happy with what I have been offered to this point. As of now on the base package 29500 with the GMS# they are dropping it to 26500, 15k for 48 months they are offering 410 (taxes included). I was hoping for a mid 300 payment and have seen some higher level packages with lower payments that people have gotten. The person I have been talking to has said that the residual is what is driving the price. Should I be looking at 07's? Shouldn't they be begging to get these 06's off the lots?
  • caclosscacloss Member Posts: 1
    Car_man, do you have the current GMAC rates and residuals for 2007 H3's? For comparison purposes, 24,27,36,39 months? Thanks!
  • louie5louie5 Member Posts: 15
    I think you can get a much better monthly rate..(350-370)
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