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Hummer H2 Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited March 2014 in HUMMER
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Hummer H2 SUV or SUT. Thanks.

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  • sargondizzosargondizzo Member Posts: 20
    How much will my lease payment be if I put zero down? The MPSR is $56,730 of my configured H2 on the site.

    Thank you for your help!!

    -Stacy
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Stacy. The lease payment for the truck that you are interested in will vary depending upon a number of factors, including how long you want to lease it for, how many miles per year you need to be able to drive it, and its selling price. I would be happy to estimate what your lease payment for this truck should be if you provide me with this information.

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  • octaviooctavio Member Posts: 2
    Ok the car that I want is $57.000 with a capable options how much the payment will be with 1000 down, keeping the car for 36 months and driving 18000 miles per year also what type of insure i have to have when a car is lease also is it harder to get finance or to lease a car.
    I leave in Tampa , Fl the dealer name is Reeves hummer

    Thanks
    octavio herrera
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi octavio. Is $57,000 this truck's MSRP or its selling price? It doesn't really matter which one it is because I need both numbers to estimate what your lease payment should be. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash or financing. Let me know and I will be happy to use GMAC's actual lease program to estimate this truck's monthly payment.

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  • octaviooctavio Member Posts: 2
    the selling price is 52000 remember 18000 miles er year 36 months
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, octavio. OK, so you want to lease a 2006 Hummer H2 SUT that has an MSRP of $57,00 and a selling price of $52,000. According to my calculations, if you were to do so through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $662. I based your lease on 15,000 miles per year because this 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.

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  • rook1rook1 Member Posts: 1
    I noticed a new leasing special on Hummer.com. My questions are: Is there anything like a standard residual on a H2 coming off lease in terms of standard percentage. Can you tell me about how the numbers on the offer work. Can I negotiate on the money factor? The offer is 499/mo on a base H2 Lux with 10k miles.">
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rook1. Vehicles' lease rates and residual values are set by banks. Individual dealers have no authority to change vehicles' residuals. They cannot lower banks' published lease rates either, but they often are allowed to mark them up to add additional hidden profit to deals. This is why it is important to know what your vehicle's published lease rate is. GMAC's published lease rate and residual value for a 36 month lease of a 2006 Hummer H2 with 10,000 miles per year are 2.0% and 61%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

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  • psusouthpawpsusouthpaw Member Posts: 1
    Hi Car man,
    I'm new to leasing so here's everything I have for you. I'm looking at a 2006 H2 with an MSRP of $62,125. My GMS price, plus current offers selling price is $50,191.60 plus tax. I'd like to get a zero down, 36 month lease with 10,000 miles per year. I'm in Pennsylvania so I believe it's 9% tax on a lease. Should I be looking for the 2.0% lease rate and the 61% residual you listed above? What would the monthly payment be? If you need anything else please let me know.
    Thanks, Bill.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Bill. Since you are new to the world of leasing, 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.

    You should be in good shape since you are able to purchase your Hummer through General Motors' Employee Purchase Program. This guarantees that you will get an attractive selling price for the truck that you want. As far as this truck's lease program goes, GMAC's current base lease rate and residual value for a 36 month lease of a 2006 Hummer H2 SUV with 10,000 miles per year are 2.0% and 62%, respectively. Using the prices that you mentioned in your post, I estimate that this truck's zero down, pre-tax monthly payment should be around $399 for the aforementioned terms. Keep in mind though that GM's incentives for the '06 Hummer H22 are different for purchases and leases. GM has $4,000 customer cash on purchases of this truck, but only $1,500 cash on leases of it in your area. So if the price quote that you were given for this truck wasn't for a lease, you may have to use a higher selling price to calculate your monthly payment.

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  • sexybeastsexybeast Member Posts: 4
    hi hummer man, could you please tell me what i should pay for leasing a 2007 h2 with a msrp of 62k, i would like to have a total of 1k drive off fee's including tax and license.
    24 or 36 month lease with 15k miles per year.
    thank you.....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sexybeast. This truck's lease payment will vary depending upon the selling price that you are able to negotiate. The lower its selling price is, the lower its monthly payment will be. For now I will assume that you are being given a $2,000 discount on it. If you are in an area that has a decent level of competition, you may be able to do better than this considering that this truck has a spread of around $4,500 between its full MSRP and dealer invoice price.

    According to my calculations, if you were to lease a 2007 Hummer H2 SUV that has an MSRP of $62,000 and a selling price of $60,000 through GMAC right now for 24 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around a whopping $959. The payment for an otherwise identical 36 month lease should be around $833.

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  • sybronsybron Member Posts: 1
    Hummer man- so if I can get them to 58000 on a 62000 truck with a money factor of .00088 and a residual of 55% on a 39 month 15k mile lease what should I be looking at with a 6% sales tax?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey sybron. According to my calculations, if you were to lease a 2007 Hummer H2 that has an MSRP of $62,000 and a selling price of $58,000 through GMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $740. Where did you get the .00088 money factor from? GMAC's current base lease rate for this model is 3.3%, which is equivalent to a money factor of around 0.00138.

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  • dutch2399dutch2399 Member Posts: 1
    Hello

    Can anyone tell me the current money factor and residual value for a 2007 H2 39 month, 10,000 miles per year lease?

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I would be happy to help you out, dutch2399. GMAC's current base lease rate and residual value for a 39 month lease of a 2007 Hummer H2 with 10,000 miles per year are 4.45% and 60%, respectively. As you can see, GMAC publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on this truck, make sure to take advantage of the $1,550 bonus cash that GM is currently providing on it. It will help you to negotiate an attractive capitalized cost.

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  • drifter0drifter0 Member Posts: 1
    My question is a little different.
    I'm driving 2004 A4 ultra sport 23K miles that I want to trade in for 2005 Hummer H2, 22K miles. This H2 just came out of a lease(checked carfax), I want to lease it for 36month, with average miles/yr
    My question is, what's the residual value & money factor for this USED H2? It's sticker price is $44K,
  • jayell1jayell1 Member Posts: 3
    Car_man:

    I was prepared to pay cash for a Hummer H2 (about $58K B4 $5K incentive, so about $53K, when the manager basically said I'd be a foul to buy. OK, I've never leased a vehicle so I'm not too sharp here. He started talking about a lease... $58K less $5K ($53K) residual of about 60% on a 39 month with 12K to 15K in annual miles. My tax rate is only 3.9%. I'm assuming no money down and payment in the $8-900 range.. What should I look out for? I own my own business, so I can write off about 70% of the lease payments and if I keep my $53K in the bank I earn interest of about $2650/year. Any advice would be greatly appreciated..
  • jayell1jayell1 Member Posts: 3
    Just received the lease quote from the dealer... Selling price is now $59K, $2500 down, rebate is only $1550 (compared to $5K) 39 month lease, 12K miles, residual is $34,827 and payments are calculated at $850.57 using a tax rate of 7.35%. Fees listed are T&R 27.50, Doc $399, aftermarket price $399, aftermarket cost $42.44, acq fee $595.

    Maybe I just don't get it... but if I pay cash of $55450 ($58K-$2450 incentive) and take advantage of 0% financing. In 36 months I own the car free and clear and the estimate is it will be worth about $34K(??). If I sold the vehicle for $34K, I would have paid $21,450 for 36 months of ownership or $595/month, however, my $55,450 which I kept in the bank returns me $8,250(5%). So $21,450-$8250=$13,200 or $366/month.

    So Lease $850/month plus $2500 down or Buy $366/month. Which brings me back to square one... If you have the cash, why would you lease? I must be missing something?? I've already been called an idiot once, so real free....

    jayell1
  • jayell1jayell1 Member Posts: 3
    Xando, very funny, I needed a good laugh!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi drifter0. Unfortunately I do not personally keep tabs on the lease programs for used vehicles. Before you agree to lease the 2005 H2 that you are interested in, make sure to compare the cost of leasing it to what it would cost to lease a brand new one. Manufacturers rarely provide support on used vehicle leases. The high level of support that is available on leases of new H2 models right now might make the difference between leasing a used one and a brand new one much less than you would think.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jayell1. 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.

    The cash incentives that are available on a purchase of a 2007 Hummer H2 are not the same as the incentives that are available on a lease of one through GMAC. GM is currently providing a $1,550 bonus cash incentive on this truck that can be used to negotiate an attractive capitalized cost for a lease. It also has an additional $500 lease cash on it in select areas (if you tell me where you are I can tell you if it is available in your neck of the woods). Negotiate as low a selling price as you can on the H2 that you want and then have the dealer that you are working with subtract any cash incentives that you are eligible for.

    Once you have arrived at a selling price that you are comfortable with, have the dealer that gives it to you calculate your truck's lease payment using GMAC's base lease rate of 4.45%.

    Car_man
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  • rob07002rob07002 Member Posts: 1
    Hello Car_man

    I'm about to look at an H2 on Friday and I want to know beforehand what I can expect.

    I want a base H2 SUV with navigation and sunroof. MSRP on Hummer's site is $58705.

    What would lease payments be here in NJ for this car assuming I can get them down to a sale price of $54 - $55k.

    Lease for 36 - 39 months 12k miles/year

    I might trade in my 2000 GMC Denali which I owe $3000 on but according to all the sites is worth $9 - $11k as a trade in in Good condition. Sa that should be gopod for about $5 - 6k down payment.

    Thank you
  • turbomama1turbomama1 Member Posts: 2
    i really like what ive read about the changes to the 08 hummer H2. They are aggressive on leasing right now on the 07's but i feel i need the changes. Do you think the 2008's are going to have much higher leasing prices. We can wait for them to come out but not for time to pass after that for price drops. what do you think?
  • duke0011duke0011 Member Posts: 1
    Does anyone know the current money factor and residual value on a new 2008 H2 Hummer. The vehicle that I am looking at is price at 64K, lux package and a couple of other options, I have a GM friends and family offer that brining the price dowx to roughly $60k. I am being quote roughly $850 per month for 39 months with 15K miles. Seems high to me, thanks for the help
  • andicandic Member Posts: 3
    :) I am in the same boat as well.......an idiot when it comes to Leasing vs. Buying. I am looking at purcasing a 2006 H2 SUT for 36,998. I have talked myself into buying a slightly used H2 for the lower pmnt. However after reading these posts I am considering Leasing! To do or not to do?

    Ps. New here hello to you all.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi duke0011. GMAC's current base lease rate and residual value for a 39 month lease of a 2008 Hummer H2 with 15,000 miles per year are 4.2% and 55%, respectively. As you can see, GMAC publishes lease 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. If you are able to purchase this truck through GM's supplier purchase program, chances are that you are not going to be able to negotiate a lower selling price than the one that you are currently being quoted.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome andic. There's nothing wrong with leasing new vehicles, if they have an attractive lease program available on them. General Motors' current program on the 2008 Hummer H2 isn't bad. I would be happy to use it to work up a sample lease payment on the exact truck that you are interested to give you an idea of what to expect, if you provide me with its full MSRP and selling price.

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