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Prices Paid: Buying & Leasing Experiences Hummer H3 Lease Questions
415 messages, Last post on Apr 27, 2009 at 5:09 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: xiosmx5 (Jan 28, 2007 2:10 pm) |
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Replying to: xiosmx5 (Jan 28, 2007 1:00 pm) |
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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!! |
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Replying to: yingxiong (Feb 05, 2007 11:44 am) 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!
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Replying to: yingxiong (Feb 05, 2007 11:44 am) Car_man Host Prices Paid Forum
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Replying to: yingxiong (Feb 05, 2007 1:10 pm) Car_man Host Prices Paid Forum
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Replying to: Car_man (Feb 08, 2007 3:44 am) I'm looking at the H3 for several reasons - the 48 month lease will mitigate - a little bit anyway - ridiculously high payments due to the upside down money. The bumper-to-bumper warranty is 48 months/50k miles, so the lease terms work well with that. I have about 38 months left on the Pacifica, so using the repair money for a down payment gets me out of a potential money pit and into a new warrantied car for just a little bit past that term. And, from what I read on GMAC Financial's website, the SmartLease includes Gap Insurance - which I do not have now.
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Replying to: Car_man (Feb 08, 2007 4:04 am) They're quoting my APR at 3.95%, stating the buy rate is 3.45% (taking 1/2 a point). I've never heard of a customer paying the actual buy rate, so 1/2 point is probably fair, right?
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Looking at the SmartLease Programs offered, there is a Standard Program requiring a security deposit, first month's payment, and some other fees (??), and Program 07-34B-6 which only requires the first month's payment up front. What's the story here? Are certain dealerships using one and not the other? Is there an eligibility requirement for the 07-34B-6? How do I know which one I'd be getting? Bottom line, what will I be required to put down up front for a SmartLease in the Northeast? 
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Replying to: yingxiong (Feb 08, 2007 8:42 am) Car_man Host Prices Paid Forum |
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