- #105 of 405
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Re: Residual costs on options [marblez]
by humbud
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Feb 19, 2006 (7:46 pm)
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Replying to: marblez (Feb 19, 2006 6:06 pm)
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..... 
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- #106 of 405
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Best Deal In New Jersey
by yoreet1
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Feb 20, 2006 (10:32 am)
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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!
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- #107 of 405
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Re: H3 Lease #'s [ksoles]
by Car_man HOST
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Feb 23, 2006 (4:13 am)
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Replying to: ksoles (Feb 15, 2006 5:46 am)
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.
Car_man
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- #108 of 405
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Re: lease payment calculator [67jeff]
by Car_man HOST
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Feb 23, 2006 (4:14 am)
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Replying to: 67jeff (Feb 18, 2006 9:18 am)
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.
Car_man
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- #109 of 405
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Re: First time leaser [humbud]
by Car_man HOST
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Feb 23, 2006 (4:27 am)
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Replying to: humbud (Feb 19, 2006 11:43 am)
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.
Car_man
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- #110 of 405
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Re: Residual costs on options [humbud]
by Car_man HOST
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Feb 23, 2006 (4:45 am)
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Replying to: humbud (Feb 19, 2006 7:46 pm)
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.
Car_man
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- #111 of 405
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Re: Best Deal In New Jersey [yoreet1]
by Car_man HOST
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Feb 23, 2006 (4:48 am)
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Replying to: yoreet1 (Feb 20, 2006 10:32 am)
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%.
Car_man
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- #112 of 405
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Re: H3 Lease #'s [Car_man]
by saberd
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Feb 24, 2006 (1:53 am)
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Replying to: Car_man (Feb 23, 2006 4:13 am)
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.
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- #113 of 405
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DEALER INSTALLED OPTION
by pinoyhummer
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Feb 25, 2006 (6:16 pm)
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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?
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- #114 of 405
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Re: H3 Lease #'s [saberd]
by Car_man HOST
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Mar 13, 2006 (10:18 am)
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Replying to: saberd (Feb 24, 2006 1:53 am)
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.
Car_man
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