Hummer H3 Lease Questions

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  • billhibillhi Member Posts: 3
    Lease
    Looks good to me...can you please comment..thanks.
    THIS IS FOR 15K MILES PER YEAR
    term 39 months
    rate 3.45
    msrp 37510
    lease amount 35732
    rebate 750
    customer cash 2500
    Total cap cost 36327
    ner cap cost 34053
    residual 57%
    residual amount 21380
    base payment 405.75
    total payment 439.22
  • drockholddrockhold Member Posts: 34
    Hey BillHi,

    I just leased a new 2007 Hummer H3X in Columbus yesterday for my wife.

    The H3x is a new model special edition. It includes heated monogrammed seats, all leather, lots & lots of chrome and luxury features. The H3X lists for $37,545.00. Other Extras I got include the Nav radio, 4 spd. auto tranny, power sunroof, trailer hitch & wiring and XM Sat. radio.

    I signed a 39 month lease for $506 per month (includes taxes) and only put down the 1st months payment and use tax/registration fees-total out of pocket was $685.00

    This is for 10,000 miles per year (she only drives about 8K per year)

    Here are the numbers.

    MSRP----------------43,215
    Discounted price of-40,115
    GMAC Admin. Fee----- 595
    Sales Tax OHIO------ 1200

    Cap Cost of---------41,910
    Consumer Rebate----- 750
    ADjusted Cap Cost---41,160
    Residual of 61%
    Residual amount of--26,361

    I think I got a great deal and she is very, very happy with the Bright Red color with all the chrome!

    Rock78
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi johnnyd5555. GMAC's base lease rate for the 2007 Hummer H3 is currently 3.45%. As long as your credit is in good shape and you paid a security deposit, it looks like the dealer that you got your truck from marked its rate up by 1% to add additional back-end profit to your deal. As far as this truck's price goes, a base 2007 Hummer H3X has a spread of $3,000 between its full MSRP and dealer invoice price. Plus, GM is providing $750 bonus cash on it right now. That gives us a total of around $3,750 to play with. You were given a discount of $2,215 on your H3. This is around $1,500 over invoice, which isn't bad but might be able to be beaten if you are in an area that has a decent level of competition. So you didn't get a bad deal, but it's not the best deal that I have seen either.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi lsulaw52. This late in the model year many manufacturers stop providing lease support on leftover models. This is because vehicles' residual values fall as the model year progresses. This late in the model year 2006 models' residual values are so low that it would be too expensive for manufacturers to put enough lease support on them to provide attractive lease payments. You may still be able to lease a 2006 Hummer through an independent bank, but if you want to lease you really would be better off leasing a 2007 model.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi squared22. It is normal to have to pay fees on leases at signing. Most banks charge consumers their vehicle's first month's payment, a security deposit that is equivalent to that payment rounded up to the nearest $25 or $50 increment, and a "bank" or "acquisition" fee. GMAC charges an acquisition fee of $595 on every vehicle that it leases.

    I would be happy to give you my opinion on the specific leases that you were quoted if you provide me with the MSRPs and selling prices of the vehicles that you are interested in. These numbers will show me how much of a discount you are being given and they will enable me to use GMAC's actual lease program to estimate what your monthly payment should be.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello billhi. The lease rate that you were quoted for this truck is right in line with GMAC's current program for it. This is a good sign because it means that the dealer that you are working with is not trying to mark your vehicle's rate up to add hidden back-end profit to your deal.

    Now let's take a look at this truck's selling price. I believe that the vehicle that you described has a spread of around $3,300 between its full MSRP and dealer invoice price. You were quoted a discount of $1,778. This is around $1,500 over dealer invoice. That is the same margin that the previous poster I responded to was quoted. If you are in an area that has a lot of dealerships, I would not be surprised if you were able to beat that price, but it's not bad.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Congratulations on your new truck, Rock78. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

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  • rebeldogrebeldog Member Posts: 1
    looking at a 2007 H3 base package with sunroof,trailer package and adventure package is this a good deal
    msrp 35480
    final price 33480
    term 39 months 12000 miles
    rate 3.45 59%
    2200 down which includes 1st and fees
    monthly payment 391

    thks
  • oregonhummeroregonhummer Member Posts: 2
    Hi Car Man,
    I am new to this site, visited my dealer before I found your site.

    After reading info here on leasing, I am not feeling that great about the lease agreement I signed. I will not take ownership of the H3x until next week. Is it too late to modify the lease? They said they can not offer a discount on the H3x?? I had to pay full MSRP :confuse:

    Here is the break down for my deal, I appreicate any input you can offer. :-)

    THIS IS FOR 15K MILES PER YEAR on 2007 H3X
    term 48 months
    msrp 43,365
    lease amount 29710.24
    rebate 750
    customer cash 2775.13

    monthly payment 557.13
  • drockholddrockhold Member Posts: 34
    Sir,

    Please read the fine print on the lease---I wonder about the fact is that you have not taken final delivery of the vehicle as yet.

    I think I'd call a lawyer to get his opinion.

    Likewise, you could always "conveniently" find something "wrong with the vehicle." Meaning that once you've inspected it, that it doesn't contain an option or options that you were under the impression that was going to be included with the vehicle.

    ERGO: Be dumb about how the whole process works.

    I still think I'd call an lawyer for his opinion first.

    Another thing you could do is to threaten to have this same attorney come back to the dealership with you to explain to the owner/sales manager how you have been duped by "mis-leading" statements during the sales process.

    I am sure that if you put up enough of a stink, that the dealer will tear up the contract and let you out of it--especially if you feel you have been mis-lead during the sales process. It's cheaper for him to do that then to have him waste his time to argue, fight and waste more money in court.

    Hope that helps.
  • florida_hummerflorida_hummer Member Posts: 2
    Car_man question I test drove my 1st ride in a H3 Lux, Sunroof, Nav. I want to do a 27 Mo lease even if its a couple of bucks more just so I know I can get something new when I am bored. So the deal I got was 27Mo. 12K miles for $504 a mo. thats with tax in the state of Broward Co. FL. with $1,400 down. For what I am getting Lux, Sunroof, Nav. 27/12k is this a good deal? It seemed like when I told the guy I was not in a hurry to buy he said well what number are you looking for to do this deal so I fig what the hell take a shot so I said Low $500's So once he came down 60 buck I fig there is room to nog. Plus he said he'll give me a check for what I just paid my car payment this mo. Since I just told him I dont need to have 2 car payments till I sell mine in a couple weeks..So what is a fare price for what I am getting?
  • florida_hummerflorida_hummer Member Posts: 2
    PS that was on a 07.. I didnt ask for the MSRP. but thos are the options I want and was givin
  • oregonhummeroregonhummer Member Posts: 2
    Hi Car Man,
    I am new to this site, visited my dealer before I found your site.

    After reading info here on leasing, I am not feeling that great about the lease agreement I signed. I will not take ownership of the H3x until next week. Is it too late to modify the lease? They said they can not offer a discount on the H3x?? I had to pay full MSRP

    Here is the break down for my deal, I appreicate any input you can offer.

    THIS IS FOR 15K MILES PER YEAR on 2007 H3X
    term 48 months
    msrp 43,365
    lease amount 29710.24
    rebate 750
    customer cash 2775.13

    monthly payment 557.13
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi rebeldog. I believe that the dealer invoice price of the truck that you described is around $32,270. Plus General Motors is providing $750 bonus cash on this truck right now. This brings us down to right around $31,500. This is around $2,000 below the selling price that you were quoted. I don't know what the market is like for this truck in your area right now, but $2,000 is a lot of room to play with. If there is another Hummer dealer or two in your area, it wouldn't hurt to comparison shop to see if you can beat this price. The lease rate that you were quoted is right in line with this truck's current base lease rate.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi oregonhumm. While the dealer that you are working with will probably try very hard to hold you to your signed agreement, you probably can still get out of this deal if you want to since you have not physically taken delivery of your new truck. Once you drive a vehicle off of the lot, it becomes a lot harder to get out of. I am not personally all that familiar with the market for the Hummer H3X, but I know that I personally would not pay full MSRP for one. Did you shop around at all? It wouldn't hurt to visit or call a couple more dealers to see if they would be willing to provide a discount on a similar truck.

    Car_man
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  • mediaguy2mediaguy2 Member Posts: 38
    i'm shopping for an '07 h3, yellow, lux pkg, sun roof, auto, side rails, brush guard. that's essentially it. two dealers have now told me that I HAVE TO PAY THE ADVERTISING FEE. One quote was over $1000. One of those dealers swears up and down that it is a fee charged to them by GM and there's no way around it. any truth to this. sounds like a scam to me. anyone ever use the costco discount. on the above vehicle (with the ad fee included) one dealer said his invoice price was 34,668.75 and the msrp was 36,960/ this was a special build for delivery in about six weeks. my price would be $500 over invoice, minus the $750 rebate. my cost -- 34,418. is this a good deal?
  • my1sthummermy1sthummer Member Posts: 1
    Hi Car Man,

    I am new to leasing and have done some research. Right now here's what I am looking at:
    39 month lease, 12,000 miles per year
    msrp: $36,650
    final price $34,900 (includes $750 rebate)
    $5,200 down
    rate 4.45%, .61 residual
    $363 month.

    I think I should try to get the rate to 3.45 % would you agree, & would you change anything else?
  • fuelcellguyfuelcellguy Member Posts: 28
    I was wondering if I can get the details on an '07 H3 MSRP of $33,355 and $35,535 (trying to decide which one). I want to go with 27 months 15K per year. I live in the Buffalo/Rochester area of NY, and I have heard we have some bonus cash on the table. Can you let me know the residuals and money factor.
    Also, is there any way for me to find the residuals and money factors online? It would be so much easier if there was a site to find this.
    Thanks.
  • mikeb10mikeb10 Member Posts: 8
    Hi Car_Man I'm getting ready to buy an H3X, hopefullt this coming week. Is GMAC's lease rat still 3.45? I have excellent credit and just want to be prepared when I go to the dealership this week...thanx
  • h3driverh3driver Member Posts: 1
    Hey guys and gals!

    I just wanted to chime in and announce the newest addition to the family. A healthy 4700lb. Jet Black 2007 H3.

    I got the 2007 base model with all the options below plus a no charge dealer added custom pinstriping with H3 logos on the two side air intakes (looks great!), upgraded floor mats/cargo mats and dark window tinting.
    Base H3 $29,405.00
    Automatic 1,695.00
    Roof Rail Airbag 495.00
    Towing Package 390.00
    XM Sat-Radio 325.00
    TOTAL MSRP: $32,310.00
    Destination $ 590.00
    TOTAL VEHICLE $ 32,900.00

    The GM Supplier Price was $30,350.16 according to the dealer (About $2,600.00 off MSRP)

    I live in TX and we pay a whopping 6.25% sales tax which was $1850.00

    So after getting the GM Supplier discount and adding the sales tax, tags and titles and a few other small fees jacked the total price to $32,450.00 Minus $750 GM cash and my $1,600 cash down payment I was left with $30,106 to finance.

    I got out the door with $360.00 a month for 39 mth Smart Buy plus the $750 GM cash back discount. Plus I'm getting a few free oil changes and discounted oil changes and another free tank of gas when I bring it back to the dealer.

    I'm really happy with the Hummer H3. My wife freaked, I surprised her with it, we had been looking and she test drove one and she liked it. I told her I'd have to do some more research before committing to any deal.

    I'm getting some aftermarket chrome nerf bars tomorrow. I'm taking it down to Houston and the warehouse is there so I can get'em on the Hummer tomorrow. Can't wait, those black beauties look sweet with the chrome nerf bars under them.

    I recently found this forum, it was a big help and thanks to all who've helped me get the facts and take the plunge.

    Happy holidays everyone, looks like mine is going to be just a little sweeter this year.
  • gtligtli Member Posts: 27
    I will be shopping an '07 H3 basic. Only interested in automatic and side curtain airbags.

    Approx MSRP of $31595
    12k/year, 36 or 39 depending on which is most favorable.
    Any guidance?
    Residuals? Rate? approx discount from MSRP I should be looking for? Est. monthly payment (live in NV, sales tax in the 7% range).

    Love this site, helped me get the best deal ever on an R500 for the wife.
    Thanks for any assistance.
  • mediaguy2mediaguy2 Member Posts: 38
    I just leased a pretty much loaded '07 h3, black, beautiful, $1500 out of pocket, out the door included first month, taxes, tags, the works. 25 months, 12k, $492-a-month. i'm quite satisfied.
  • mediaguy2mediaguy2 Member Posts: 38
    27 not 25 months, sorry.
  • gtligtli Member Posts: 27
    Which options? What was the MSRP? The interest rate?
  • mediaguy2mediaguy2 Member Posts: 38
    auto, sunroof, chrome pkg, chrome wheels, xm, chrome running boards, black brush guard, lux pkg, some other stuff.
  • gtligtli Member Posts: 27
    Thanks my friend. What was the MSRP, the residual they gave you and the state you live in?

    Only one dealer where I live in Vegas, the other is about 120 miles away in CA, not so far, but looking for some leverage to negotiate a dealer here in Vegas. It's a bit of a monoploy.

    Thanks.
    GT
  • mediaguy2mediaguy2 Member Posts: 38
    the msrp was about 39,300 with the added on brush guard. it was the standard gmaC SMARTLEASE % rate. it doesnt show on the lease agreement. in any case it fits the budget well.
  • mediaguy2mediaguy2 Member Posts: 38
    i'm in ct. the residual is 27,072.
  • mikeb10mikeb10 Member Posts: 8
    I just bought an H3X today and I did alot of research. For a 39 month lease with 15,000 miles with a GMAC smartlease the lease rate is 3.45% and the residual is 57% for 12,000 miles the res. is 59% and 10,000 miles 61%. Hope this helps.

    Here's my lease
    2007 H3X Desert Orange w/all options
    39 month lease, 15,000 miles per year
    msrp: $43,885
    final price $39,638 (includes $750 GM rebate and 250 GMID rebate)
    $1040 down(first months payment and title, tags, DOC,etc)
    rate 3.45%, .57 residual
    $480 month.
  • gtligtli Member Posts: 27
    Saw an ad on tv last night offering $1,750 holiday cash?

    Does this mean that GM has upped the offer cash rebate another $1,000.00?
  • mediaguy2mediaguy2 Member Posts: 38
    yes they have, but only for purchase not lease. for lease i got $1000...the original 750 plus another 250 plus the gm supplier discount. my loaded h3, on a 27 month, 12k lease with gm is 492 a month.
  • gtligtli Member Posts: 27
    what was MSRP? Purchase price?
  • rich50rich50 Member Posts: 12
    Hello,

    Has anyone checked out Hummer's $299/month lease on the H3s? I know it is based on a $29,995 stripped model but wondered how it works out with a decently equipped one. There Ad is 299/month for 39 months with 32k miles and $1829 due at lease signing..
    Thanks in advance for any input!
  • mediaguy2mediaguy2 Member Posts: 38
    it's posted look back in the thread
  • gtligtli Member Posts: 27
    expires 1/2/7

    Likely to be gone or something new?
  • gtligtli Member Posts: 27
    H3 base, MSRP $32,700
    $1,500 down, 12 k/yr, $380 at 39 mos, 397 at 36 mos?
  • tmitchtmitch Member Posts: 14
    H3 -fully loaded with nav - MSRP $40,810
    Price after discount and $1750 holiday rebate - $36,288

    The deal offered was a smart buy of:
    $1,000 down, 15k/yr, $502 for 39 months.

    Does this sound like a good deal?????????????????
  • hummeehummee Member Posts: 4
    Hey Gunnar,

    I just leased onto a New h3 for 600.00 per month 72 month term and I'm paying 611.00 per mth. all chromed out with xm . Chrome wheels, we also got on hand rebate for 750.00. If you go to them and tell them look this is what I'm looking for. Most of them will try to work something out with you. We had an 2002 avalanche and loved it never thought we'd give it up but when we found out how much more we were gaining with the h3 we went for it. Not a poweful truck but it's nice. Plus Insurance on a new vechicle is cheaper than what our avalanche was. :shades: good luck :)
  • sinnombresinnombre Member Posts: 4
    Does hummer offer multiple types of leases? Their website is asking for several thousand at lease end...I am currently leaseing a BMW, didn't have to put any downpayment and nothing due at lease end. What gives? Anybody leased an H3 using another finacial insitution other than GMAC?

    Thanks
  • mikeb10mikeb10 Member Posts: 8
    I leased mine about a month ago. GMAC smartlease is a closed-end lease. You pay nothing at the end of the lease. You can either buy it at the residual value or jut turn it in.
  • Kirstie_HKirstie_H EdmundsAdministrator Posts: 11,126
    A national news magazine is looking to interview recent GM car buyers (Chevrolet, Pontiac, GMC, Cadillac, Saturn, Buick, Hummer, Saab) that switched from a Toyota or considered purchasing a Toyota. If you are interested, please send an email to [email protected] no later than Monday, January 29, 2007 containing your daytime contact information.

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  • xiosmx5xiosmx5 Member Posts: 7
    Hi all. I'm starting my quest for an H3. I'm interested in leasing for 36 months or less with little or no money down. We went to our local dealer and deceided on one with the luxury and chrome appearence package. It also had XM, sunroof and a few other options. The sticker was 38k and change. What should I expect to pay per month? Are there any rebates I should be aware of? Thanks for any info you can provide. I'm in the Philly area.
  • mikeb10mikeb10 Member Posts: 8
    I'm also in the Philly area. I went to 4 dealers in the area and only one would I recommend. I about an 07 H3X about 6 weeks ago, I don't think the lease rate has changed it should still be 3.45. If you want you can email me at [email protected] and I'll give you all the details and who I dealt with. You shouldn't pay sticker mine listed at 43,800 and I got it for a little under 39k. I have 39 month lease with 15k a year, I put 800 down(first payment, tax, title tags). My payment was 480. Do you live in Jersey? Theres some fees if you do. Like I said if you want email and I'll tell you where I went and who I dealt with, it was a very easy transaction....Mike
  • xiosmx5xiosmx5 Member Posts: 7
    Mike,

    E-mail me at [email protected] I tried yours and it say it's a non-existant address. Did you type it correctly?

    Steve
  • xiosmx5xiosmx5 Member Posts: 7
    Somehow got it to go through...check your mail.
  • hummeehummee Member Posts: 4
    Hi we lease a new h3 from sutliff hummer with 700.00 down and they gave us a 750.00 towards our downpayment. we pay 612.00 per mth for 4 yrs. We have the total package like your describing with onstar we love it, we've had it since xmas. The only thing i miss is the power we had in our avalanche.
  • yingxiongyingxiong Member Posts: 12
    I'm looking into a 48 month lease with 12k miles per year. I chose the longer term because I'm rolling in some upside down money in my trade and don't want to pay a crazy payment each month. Here's my quote from 2 dealers in Connecticut -

    H3 Base with Automatic - MSRP $31,690
    Trade = 2004 Chrysler Pacifica FWD appraised at $11,500 (don't know if this is ACV). Payoff is $17,870.
    $1,500 cash down
    48 month 12k/year payment = $549 per month

    I asked the dealer for a breakdown of the ACV on my trade as well as the selling price of the H3, residual, APR - and 3 days later still have no response.

    Can anyone tell me, based on the current GMAC buy rate and 48 mo/ 12k mile residual if this is a good deal? Are there any acquisition fees/security deposits on GMAC's SmartLease right now?

    Thanks in advance!!
  • yingxiongyingxiong Member Posts: 12
    Well, it must be that I posted here that the dealer faxed over some numbers. Here they are:

    H3 Base w/ Automatic
    SmartLease 48 months 12,000 miles per year

    MSRP - $31,690
    Selling Price - $30,555 (claiming $500 over invoice)
    Trade ACV - $12,500
    Trade Payoff - $17,870
    Residual - 50%
    APR - 3.95% (1/2 point over buy rate)
    $1,500 cash down

    $542.97 per month

    Their invoice seems high. He said there were advertising fees added to the invoice and this deal was $500 over their investment in the vehicle.

    The calculator on leaseguide.com shows a lower payment, so I must be missing something......

    Any help is appreciated!
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi yingxiong. You really should wait until you are less upside down on your current vehicle to get a new one. As I am sure you are aware, you are going to end up paying way more than you should for your new Hummer H3 if you have to roll this much negative equity into it. If you absolutely have to get something new now, it is important to find out the selling price of the Hummer that you are getting. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price on the H3 that you want and then introduce your trade into the equation. Given how upside down you are on your Pacifica, the payment that you were quoted doesn't sound terrible but you really need to find out exactly how this deal breaks down before proceeding.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Thanks for the additional information, yingxiong. The dealer invoice price for a base 2007 Hummer H3 with an automatic transmission is $29,100, so $500 over that would be $29,600. The price that you mentioned is around $1,000 over that. Try to get the dealer to lease you this truck for $500 over the invoice price that I mentioned, add in your negative equity, and then use GMAC's base lease rate of 3.3% to calculate your monthly payment.

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