Hummer H3 Lease Questions

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.!

Replies to this message:
• dangermoose (May 10, 2008 1:08 pm)
  • dawnie417 (May 10, 2008 4:12 pm)
    • dangermoose (May 10, 2008 4:59 pm) and 1 more...
    • Car_man (May 13, 2008 2:56 am)

Replying to: dawnie417 (May 10, 2008 7:06 am)

Replies to this message:
• dawnie417 (May 10, 2008 4:12 pm)
  • dangermoose (May 10, 2008 4:59 pm)
    • dawnie417 (May 11, 2008 6:39 am)
  • Car_man (May 13, 2008 2:56 am)

Replying to: dangermoose (May 10, 2008 1:08 pm)

Hi there! This is the Perrine Dealership in Cranbury! We have it right now in our driveway!!!!! I'm sooo happy w/ it. We will eventually bring it back to get the chrome gas tank. It cost $238 installed, but hubby will take care of the negotiating on that a bit.
 
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!!!

Replies to this message:
• dangermoose (May 10, 2008 4:59 pm)
  • dawnie417 (May 11, 2008 6:39 am)
• Car_man (May 13, 2008 2:56 am)

Replying to: dawnie417 (May 10, 2008 4:12 pm)

Replies to this message:
• dawnie417 (May 11, 2008 6:39 am)

Replying to: dangermoose (May 10, 2008 4:59 pm)

Hi, we went with the black one, and the interior is black w/ the morocco-toned seat inserts. Love it! It's so sharp. I totally hear ya on the price of gas!!! The H3 actually isn't "that bad" on gas....well the 5 cyl. If you do get the H3, be sure you get the 3.7L 5cyl. and not the 8 cyl. I have the window tag right here and it says on average highway miles is 18mpg. (Expected range for most drivers 14-22 mpg). The guy we almost took his lease over said he got 20 mpg. My Altima got about 23 mpg. so it's just a couple miles per gallon less we're getting w/ the H3. We decided to sell my hubby's Dodge Ram 2500 diesel and keep my Altima for him. He's sacrificing and will do w/o a truck. For us, it's more cost effective as his diesel is alot of money on gas! I need to take pics of our H3 (should have done it yesterday) before alot more pollen covers it and makes it lookm ore dirty! lol
 
Let me know if you have ANY other q's. I'd be happy to answer. Let me know what you decide!

Replying to: dawnie417 (May 10, 2008 4:12 pm)

Congratulations on getting your new H3, dawnie417. I'm glad that everything worked out for you. Thanks for taking the time to let us all know how everything turned out. Enjoy your new Hummer . 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
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Replying to: Car_man (May 09, 2008 2:49 am)

Replies to this message:
• cadillacmanaz (May 17, 2008 4:25 pm)

Replying to: asch (May 13, 2008 2:55 pm)

I just started my smart lease at the end of January 08. I was wondering if anyone knew how it would work if I wanted to get out of this lease to get into something more practical. My lease payment is very low... 319/month but I get really depressed putting gas in it. Great vehicle but I can't afford to put gas in it anymore.

Replies to this message:
• Car_man (Jun 09, 2008 2:28 am)