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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: dawnie417 (May 07, 2008 4:11 pm) The individual who you are dealing with is either confused to lying to you. If he has a 36 month lease, it's a 36 month lease. there's no such thing as an option to trade the truck in after 24 months...not for free anyhow. Sure, you would be able to do so, but it would likely cost you a lot of money. There's nothing wrong with assuming someone else's lease, but before you do so you definitely should compare the cost of leasing a similar brand new truck to the payment that the lease you are considering assuming has. You may find that the deals on this particular model are better now than they were when this person leased theirs, or that they just didn't get a very good deal. Only five months in, there's no reason to assume a lease unless it is significantly less expensive than what you would have to pay for a brand new H3. You may want to try comparison shopping with a couple of dealers before pulling the trigger. As far as this car's lease-end purchase price goes, chances are it is going to be higher than what it is worth on the open market when your lease is up. If this is indeed the case, then it doesn't make sense to buy your truck at lease-end. In most instances, consumers are actually better off walking away from their leased vehicles at the end of their terms than buying them. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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The MSRP on this vehicle is about $42K. I have the dealer obtaining the purchase price in the lease terms for me right now. Is this a good deal? I have seen ads for $99/mo with $1190 due at signing on a base H3 with MSRP of $30,775. Navigation Rearview Camera Chrome package Chrome wheels Sunroof Automatic transmission $1000 down (includes first payment, fees, etc) 39 months 10K miles/year $426/month This seems like a great deal, but I'm not sure. |
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Thanks so much for your response! Well, based on your response we HAVE decided to check out other dealers first to see what deals they have, before we possibly take over that guy's lease. So right now my husband is at the dealership and so far here's what they are offering him: ~2008 H3...the LUXURY edition ~ chrome package ~ sunroof ~ leather ~ chrome wheels ~It's a $40,000 truck. (the only thing it doesn't have is the chrome gas gap. For me personally I'd rather have that than the chrome wheels. My husband would beg to differ. lol) TERMS: ~ 38 mo. lease ~ 12,000 miles a yr. (.20 cents each mile over) (the guy really kept trying to push for 10,000K miles. My hubby gave him a fight and kept walking out). ~ MSRP is $40,000 but we are "buying" it for $36,600 ~ $399/mo including taxes ~ $1,440 down and that includes the first payment, taxes, fees, etc.. ~ 59% residual (what does that mean??? help!) ~ it was based on 4% int. rate What do you think? I'm telling my husband on the phone about the $1,050 lease cash and $1,000 bonus cash, and he's telling him but the guy seems to be dancing around it?! Wanted to know if I was an employee of GMAC. LOL So, not sure. My hubby is usually a great wheeler and dealer, but not sure about this lease cash incentive thingie if he'll pull thru or not?!?! Anyway, what do you say about this deal?? Would love to hear your honest opinion on this and based on the MSRP of being $40,000 and them 'selling' it to us for $36,600. I would hate to get ripped off in any way. How it differs from the other deal, where we were going to take over the guy's lease. ~ The lease take-over one was also a 2008, it was the Sport edition though, it did have the chrome pkg. (which is only the chrome handles and mirrors. He also had the chrome hood thingie too) BUT NO LEATHER OR SUNROOF. That was also for 12,000 mi/yr. and we would be taking the payments over for $379/mo. (it currently has 5K miles on it) and the guy put down $3,000 on it (sounds like he didn't get a good deal after all, huh??) SO, for $20 more a month we are getting the luxury pkg., which comes with everything and it only has 34 miles on it, versus 5,000 since the guy was 5 mos. into his lease. Granted, we will be putting down $1,500 if we close this deal, but what do you say? This is in New Jersey.  Looking forward to your opinion/advice, etc.!
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Replying to: dawnie417 (May 10, 2008 6:06 am) where in NJ? We're negotiating at Perrine Hummer/Buick/GMC in Hightstown. Thanks. |
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Replying to: dangermoose (May 10, 2008 12:08 pm)  This H3 has a total of $10,000 in options! The MSRP sticker was almost $41,000 on it. I also forgot to add that it has the DVD Navigation Radio....a $1,700 option. and the trailing equipment too (which is almost a $400 option)...which is good for us cuz we do have a trailer. The only thing it don't have (besides the chrome gas cap) which I really wish it did was the step bars (or whatever you call it). He said that they don't come standard anymore. It's an option...and it's NOT cheap. It'll be much easier to get in and out if we had it...but sometimes you gotta sacrifice some things, right? Good luck to you in hopefully closing your deal. Hopefully our experience can help you in comparison to the deal you will hopefully make. Keep me posted!!!
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Replying to: dawnie417 (May 10, 2008 3:12 pm) We're trying to decide between a truck (the H3) or a car (an A4). It's this whole gas price thing, or we'd have gone for the H3 already.
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Replying to: dangermoose (May 10, 2008 3:59 pm) Let me know if you have ANY other q's. I'd be happy to answer. Let me know what you decide!
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Replying to: dawnie417 (May 10, 2008 3:12 pm)  . Oh and make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (May 09, 2008 1:49 am) Makes me wonder if I am even getting a true GMS price! Tell me what you think, MSRP $38,975 Lux. package Chrome wheels Chrome apperance package Moonroof $2800 GMS discount $1000 spring event bonus $600 Cap cost reduction Total $34,575 sound right?
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Replying to: asch (May 13, 2008 1:55 pm) |
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