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Hummer H3 Lease Questions

404 messages,  Last post on Jun 30, 2008 at 2:10 AM

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

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#326 of 404 Re: High lease price? [felbie1] by kris18 Apr 04, 2007 (9:46 pm)
Replying to: felbie1 (Apr 01, 2007 3:28 pm) hi everybody, went to dealer in fl.was quoted an msrp of 37550 (Base Price + Luxury Pkg + Sunroof + Side Bars) a price of 35,850. ACQ fee 595 DEL fee 347 . A Rebate of 950 . A rate of 5.10% (Seems high based on posts ..is 3.45 reasonable ?) Downpayment 2800 +625 total =3425 residual .61 10k miles /year for a monthly payment on a 39 month lease of 416.55 . Is this reasonable ? appreciate any feedback.. Replies to this message: Car_man (Apr 13, 2007 3:58 am)
#328 of 404 I think I need help. by johnnyd5555 Apr 05, 2007 (9:49 am)
Car Man, I posted back in Oct. 2006 about a H3X that I leased. Here is the deal to refresh your memory: MSRP $43,815 Lease Price $41600 Cap Cost Reduction $1228.81 Length 36 Months Lease Rate 4.45 Residual Value $25412.70 Rent Charge $4602.20 Total Money down $2500.00 Monthly Payment $604.51   About a month later in November, I went back to the dealership and asked them why I was paying a point higher on my lease rate since I have excellent credit. The sales manager at first said that I was mistaken and that I was paying 3.45. I showed him my original notes from the deal and he ran the numbers and he then agreed that I was paying 1 point to high. I asked him if he could give me a break down as to how they came up with the lease payment. He said that it was a complicated formula and that he would have to get the breakdown from GM. I gave him my cell number and fax number and asked him to contact GM and get the formula and break it down for me by plugging in my deals numbers and then we could get an idea of how much money would be refunded back to me. He then said that he would do that, however, he could not change the deal through GM. He said that I would have to continue paying GM the incorrect (larger) monthly payment and the dealership TURNERSVILLE HUMMER in NEW JERSEY, would simply refund me the balance in one lump sum. Well it has been 4 months and I have not even received a phone call, let alone a refund check. Can you help me with this? I feel like I have gotten ripped off. What should my next step be? Replies to this message: Car_man (Apr 13, 2007 4:06 am)
#329 of 404 Re: H3 Lease Prices [ryano1] by Car_man HOST Apr 13, 2007 (3:38 am)
Replying to: ryano1 (Mar 14, 2007 2:31 pm) Hi ryano1. If you are able to take advantage of GMS pricing, I am surprised that the lease payments that you were quoted by these dealers were not all exactly the same. GMAC's current base lease rate for the 2007 Hummer H3 is 4.6%. Shame on your wife's uncle for trying to mark up your truck's lease rate .   Car_man Host Prices Paid Forum
#330 of 404 Re: H3 lease [ppete1] by Car_man HOST Apr 13, 2007 (3:42 am)
Replying to: ppete1 (Mar 29, 2007 5:29 pm) Hi ppete1. The lease rate that you were quoted for this truck is right in line with GMAC's current base rate for it. this is a good sign because it means that this dealer is being straightforward with you about this aspect of your deal. The dealer invoice price of the truck that you described is right around $29,100. Plus GM is currently providing $950 bonus cash on it. That brings us down to $28,150. The selling price that you were quoted is only a couple hundred dollars above that, which is a good deal. If you like the truck, I personally don't see any reason not to go for it.   Car_man Host Prices Paid Forum
#331 of 404 Re: Leasing in NM [sinnombre] by Car_man HOST Apr 13, 2007 (3:47 am)
Replying to: sinnombre (Mar 31, 2007 8:11 pm) Hello sinnombre. GMAC's current base lease rate and residual value for a 36 month lease of a 2007 Hummer H3 with 12,000 miles per year are 4.6% and 61%, respectively. The $950 reduction that you are being given on this truck is bonus cash that is being paid for by General Motors. You should be able to negotiate an additional dealer discount on top of that.   Car_man Host Prices Paid Forum
#332 of 404 Re: High lease price? [felbie1] by Car_man HOST Apr 13, 2007 (3:51 am)
Replying to: felbie1 (Apr 01, 2007 3:28 pm) Hi felbie1. Unfortunately, the customer cash that General Motors is currently providing on the '07 Hummer H3 is not compatible with leases through GMAC. GM is providing $950 bonus cash that can be used to reduce the capitalized cost of leased vehicles though. The fact that you are able to purchase this truck through GM's supplier purchase program is helpful. So is the $1,750 GM card credit that you've earned. Have the dealer use a capitalized cost of the supplier price minus the $950 bonus cash minus the $1,750 GM card credit to calculate your truck's monthly payment. Also, make sure that the dealer is using GMAC's base lease rate of 4.6%.   Car_man Host Prices Paid Forum
#333 of 404 Re: High lease price? [kris18] by Car_man HOST Apr 13, 2007 (3:58 am)
Replying to: kris18 (Apr 04, 2007 9:46 pm) Hi kris18. The lease rate that you were quoted for this truck is slightly high. GMAC's current base rate for the '07 Hummer H3 is only 4.6%. Make sure that the dealer that you are working with uses that rate to calculate your lease payment. As far as the price that you were quoted goes, the truck that you described has a spread of around $3,350 between its full MSRP and its dealer invoice price. That means that you are probably at around $1,650 over invoice or so right now. That's enough room that it wouldn't hurt to try to negotiate with this dealer a little more or to comparison shop with another dealer or two to see if you can beat this price.   Car_man Host Prices Paid Forum
#334 of 404 Re: I think I need help. [johnnyd5555] by Car_man HOST Apr 13, 2007 (4:06 am)
Replying to: johnnyd5555 (Apr 05, 2007 9:49 am) Hi johnnyd5555. It looks to me as though you caught the dealership marking up your lease rate to add additional hidden, back-end profit to your deal. This sort of thing is perfectly legal and actually happens quite frequently. This is why it is very important to research what the base lease rate is for the vehicle that you are interested in prior to finalizing your deal. Now that you have physically taken delivery of your truck this dealer is under no obligation to refund you any money. It sounds like they are just trying to put you off in hope that you will eventually get tired of hassling them and go away. If you make enough noise you may be able to get the dealer to do something for you, but I wouldn't count on it.   Car_man Host Prices Paid Forum
#335 of 404 hi ppete1 by hamilton4 Apr 16, 2007 (12:36 am)
where did you get this deal? can you tell me the city, state and dealer name?   thanks Replies to this message: ppete1 (Apr 16, 2007 1:19 pm)

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