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HUMMER H3, Car Leasing, SUV
#306 of 425 Re: 48 Month Lease [yingxiong]
Feb 08, 2007 (4:04 am)
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.
Prices Paid Forum
#307 of 425 Re: 48 Month Lease [Car_man]
Feb 08, 2007 (8:42 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 425 Re: 48 Month Lease [Car_man]
Feb 08, 2007 (8:46 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 425 GMAC Lease Programs
Feb 15, 2007 (1:28 pm)
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 425 Re: 48 Month Lease [yingxiong]
Mar 07, 2007 (3:27 am)
You're welcome, yingxiong. Let me know if you have any other questions.
Prices Paid Forum
#311 of 425 Re: 48 Month Lease [yingxiong]
Mar 07, 2007 (3:31 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.
Prices Paid Forum
#312 of 425 Re: GMAC Lease Programs [yingxiong]
Mar 07, 2007 (3:33 am)
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.
Prices Paid Forum
#313 of 425 H3 Lease Prices
Mar 14, 2007 (1:31 pm)
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.
#314 of 425 Re: H3 Lease Prices [ryano1]
Mar 14, 2007 (2:52 pm)
Here in Orange County, (Los Angeles area) H3s are advertised for $ 299 a month with $ 2999 down, and if you want the luxury package it is $ 360 a month, same down payment. I think it was a 39 month lease. These are for the manual transm. model, automatics might be a bit higher.
#315 of 425 Car Man or Mike B
Mar 28, 2007 (1:04 pm)
I saw your info on the Edmonds Hummer Lease board. Can you tell me who you used for this scenario:
I'm also in the Philly area. I went to 4 dealers in the area and only one would I recommend. I about an 07 H3X about 6 weeks ago, I don't think the lease rate has changed it should still be 3.45. If you want you can email me at sugmikeyahoo.com and I'll give you all the details and who I dealt with. You shouldn't pay sticker mine listed at 43,800 and I got it for a little under 39k. I have 39 month lease with 15k a year, I put 800 down(first payment, tax, title tags). My payment was 480. Do you live in Jersey? Theres some fees if you do. Like I said if you want email and I'll tell you where I went and who I dealt with, it was a very easy transaction....Mike
I went to a dealer and tried to get the same and was told 510. They indicated the money moved from 3.45 to 4.6 can someone tell me if this is accurate.
Thnaks Seagull Mike