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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

What is this discussion about? HUMMER H3, Car Leasing, SUV


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#304 of 415
Re: 48 Month Lease [yingxiong] by yingxiong
Feb 05, 2007 (1:10 pm)
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Replying to: yingxiong (Feb 05, 2007 11:44 am)

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!
#305 of 415
Re: 48 Month Lease [yingxiong] by Car_man HOST
Feb 08, 2007 (3:44 am)
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Replying to: yingxiong (Feb 05, 2007 11:44 am)

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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Prices Paid Forum
#306 of 415
Re: 48 Month Lease [yingxiong] by Car_man HOST
Feb 08, 2007 (4:04 am)
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Replying to: yingxiong (Feb 05, 2007 1:10 pm)

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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#307 of 415
Re: 48 Month Lease [Car_man] by yingxiong
Feb 08, 2007 (8:42 am)
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Replying to: Car_man (Feb 08, 2007 3:44 am)

Thanks for the response Car_man. I do need to get out of the Chrysler - it's out of warranty and is starting to need some repairs. This is my second Chrylser vehicle in a row that has started to cost a lot of money after the warranty was over.
 
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.
#308 of 415
Re: 48 Month Lease [Car_man] by yingxiong
Feb 08, 2007 (8:46 am)
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Replying to: Car_man (Feb 08, 2007 4:04 am)

I think I figured something out. 3 other Hummer dealerships have only put $11,500 on my car as ACV. I think this dealership is hiding some money in the trade against the selling price. So, the ACV might actually be $11,500, which brings me to the $500 over invoice they're quoting.
 
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?
#309 of 415
GMAC Lease Programs by yingxiong
Feb 15, 2007 (1:28 pm)
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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?
#310 of 415
Re: 48 Month Lease [yingxiong] by Car_man HOST
Mar 07, 2007 (3:27 am)
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Replying to: yingxiong (Feb 08, 2007 8:42 am)

You're welcome, yingxiong. Let me know if you have any other questions.
 
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#311 of 415
Re: 48 Month Lease [yingxiong] by Car_man HOST
Mar 07, 2007 (3:31 am)
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Replying to: yingxiong (Feb 08, 2007 8:46 am)

Hey yingxiong. I personally would try to make the Hummer dealer use the base lease rate to calculate my vehicle's lease payment. Most consumers who know what their vehicle's buy rate is and who are in areas that have a decent level of competition are able to get dealers to use it to calculate their monthly payments.
 
Car_man
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Prices Paid Forum
#312 of 415
Re: GMAC Lease Programs [yingxiong] by Car_man HOST
Mar 07, 2007 (3:33 am)
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Replying to: yingxiong (Feb 15, 2007 1:28 pm)

Yingxiong, at lease signing consumers are usually required to pay their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the acquisition fee that is charged by the bank that they are leasing through - GMAC charges $595 in most states, any down payment that you choose to make - ideally this should be zero, and any required state taxes or fees.
 
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Prices Paid Forum
#313 of 415
H3 Lease Prices by ryano1
Mar 14, 2007 (1:31 pm)
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I've gotten 3 quotes and 3 different prices for an H3 lease this week. The msrp is $33,500. I get the gms pricing. We plan to do a 36-month 12,000/yr lease. The only out of pocket would be the 1st months+tax, title etc. So far the best deal is $345/Month with $550 due at signing. Is this a reasonable deal. My wife's uncle quoted us at $377/mth and at a 5.10 lease rate. The other dealers are using 4.65 for the rate. I think her Uncle is on the take. Any help would be great. Thanks.

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