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Hummer H3 Lease Questions
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Thanks.
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 ..:-)
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.
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!
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!
Thanks guys - appreciate the help!
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.
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Thanks and happy new year.
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
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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.
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
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
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.
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
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.
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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
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
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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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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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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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!!
Thanks
FFF
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
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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?
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?
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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!!!
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
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:
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: