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Hummer H3 Lease Questions

409 messages,  Last post on Sep 02, 2008 at 2:51 AM

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

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#77 of 409 H3 Lease Help by ken12345 Jan 18, 2006 (6:12 pm)
Hello Carman,   I'm currently in the final stages of negotiating a lease with a Hummer dealership in the tri-state(ct,ny,nj) area. Right now i have a model with luxury/sunroof/navigation/xm/chrome appreance/chrome roof cross bars/brush guard/chrm tubular steps/chrome gas cap/trailering/and the special dvd package($299)..i pretty much have all the options...i was quoted a price of $40,265..its been difficult for me to quantify this on an MSRP basis because he took an existing model he had in stock and added my options to it (some are not listed on the various websites etc), i'm looking at a lease of 12k miles for 36 months...using a 64% residual and money factor of .00246, plus $900 in negative equity from a trade-in, i was quoted a lease price of $637 a month, about $1,020 due at signing (includes 1st month)... I really want to know if this seems too high, or at least the $40,265 figure...that is higher than every price i have seen on this site. Should i try to be getting him to lower his asking price? I know this is a bunch of info, but if you know a way i can exactly determine what the invoice price is compared to what he is asking it would be a great help. Much Appreciated, -Kevin Replies to this message: Car_man (Jan 25, 2006 4:35 am)
#78 of 409 H3 Lease with no GMID...Stupid? by imjj4short Jan 23, 2006 (11:27 pm)
Oh,Wise Ones who host this site...   I test drove the H3 yesterday and talked with the dealer this evening. I don't have a GMID. This is the deal we put together (all on paper, but nothing yet signed, so I can still walk away if it is a bad deal). Do you think I am good to go without the GMID if they stick to the deal or should I try to get one and renegotiate?   H3 1SC Automatic, Luxury, Chrome, Satellite Radio, Steps etc $36,805 MSRP $32,871 invoice (Edmunds)   No trade. No money down (including first month, destination, etc.) Nothing due at signing. $495 a month including tax, license, etc 36 months 12,000 annual miles Yes, I was stupid and didn't write down the actual selling price...I think it was around 32,000.   Any advice you can give me before I go down tomorrow would be appreciated!! I felt like I pushed the salesman as far as I could, but I am not sure...I would still like to get 15,000 annual miles. Replies to this message: Car_man (Jan 25, 2006 4:43 am) imjj4short (Jan 25, 2006 8:15 am) Car_man (Feb 03, 2006 5:01 am)
#79 of 409 Re: H3 lease ? [jhl1963] by Car_man HOST Jan 24, 2006 (5:45 am)
Replying to: jhl1963 (Jan 09, 2006 10:09 am) No problem, jhl1963. If you were to lease a 2006 Hummer H3 through GMAC right now for 36 months with 12,000 miles per year (I don't recall ever seeing a GMAC lease of a Hummer with fewer miles than this), its base lease rate and residual value should be 5.75% and 64%, respectively. Most banks that lease vehicles charge acquisition fees. In most states, GMAC's base lease acquisition fee is currently $595. Unfortunately this money goes directly to GMAC and dealers do not have any authority to waive it.   Car_man Host Smart Shopper / Prices Paid Forums
#80 of 409 Re: Success - leased a green/green H3 - thanks for everyone's help! [jhl1963] by Car_man HOST Jan 24, 2006 (5:52 am)
Replying to: jhl1963 (Jan 09, 2006 9:50 pm) Congratulations on your new truck, jhl1963. Enjoy!   Car_man Host Smart Shopper / Prices Paid Forums
#81 of 409 Just leased an H3! - Here is my deal... by zoomer6 Jan 24, 2006 (1:42 pm)
I am now enjoying the heck out of my new H3. I will provide the specs and experience below. Thanks to all on this site particularly Marblez. In December I received my GMID number and began seriously shopping closest to home, which is Putnam Chevrolet Hummer in Burlingame CA.   My H3 Deal: Lux pkg. Adventure Pkg. Chrome pkg. Chrome tubular steps Brush guard Pwr. Sunroof Roof rack crossbars(brushed aluminum) DVD promotion (stated as $299) Color: Superior Blue/ebony MSRP: $39355. Invoice: $36611.68 GMID price: $35824.07 Payment out the door: $804.29 (first month & DMV reg. fees) Monthly total: 501. 54 ($463 + tax $38.22)   I first called and confirmed they would accept the GMID and no problem. The DVD package and roof crossbars I negotiated to be added at no cost. They will be installed next week. As a last attempt to negotiate the price, I showed them a GMS price which was about five hundred less. They were not interested in reducing the cost anymore and said they could not offer the GMS price. To their credit they were very forthright in sharing the computer screen details and printouts of their finance data to show I had the true GMID pricing and all was above board. We even looked at invoice prices and GMID pricing across the country with similar H3s. Still, I need to feel I am getting the best deal I can and I stated that I knew they were not losing money on the GMID deal as they are rebated from GM for it. The finance guy looked up my invoice at a GM corporate internet site in front of me and discovered I was correct in asking for a reduction as the manufacturer had for some reason lowered the invoice by $78 (not the GMS level, but something). That reduced my payment a couple of bucks and we had a good rapport and talked about a bit about common interests and then the DVD pkg.. I then closed that we had a deal if he would include the DVD package. He attempted to show me that it was a $1400 item and their cost was $1200. I stated he was going to receive a reimbursement ($1000) from the manufacturer anyway so they weren't doing badly. He agreed to include the DVD and the cross bars which I had brought up to my salesman a day before.   After cross referencing figures I believe I got the best deal that I could. I would have liked to have the $463 payment include taxes, but I could not get them there. Your feedback or questions are welcome and I hope this helps in your experience.   All the Best, Zoomer6 Replies to this message: Car_man (Jan 25, 2006 4:47 am)
#82 of 409 H3 deal in NJ by anjony123 Jan 24, 2006 (4:52 pm)
Can the admins or anyone comment if I am getting a fair deal on this base H3. I know how to calculate a lease myself and these number seems to work out.   Here's their deal: MSRP $34,080 Neg Price $31,692 (+acq fee $695 + $924 tax) Acquisition $695 Interest %5.75 Term 39mos Residual 65% Monthly $421 10k miles/yr   My questions are: 1)I am a current GMAC lessee, does the acq fee still apply?I thought it should be waived 2)Is including the tax in cap cost correct? I thought you calc the tax after monthly payment. 3)Can you guys confirm if I have to pay $299 for DVD? 4)any one know of any GM Loyalty rebate.   thanks Replies to this message: Car_man (Jan 25, 2006 5:08 am)
#83 of 409 Re: Just Got my GMID & about to visit my local Hummer Dealer [cgmmny] by Car_man HOST Jan 25, 2006 (4:16 am)
Replying to: cgmmny (Jan 13, 2006 6:02 pm) Hello Cgmmny. Given the fact that this model has been selling pretty well, I'd say that GM's supplier purchase price is a pretty good deal on the Hummer H3. You certainly can shop around a little bit and see if you can do a little better than this price if you want.   As far as making a down payment to achieve a target monthly payment goes, I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Hummer would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. You can always use the money that you would have used as a down payment to supplement your monthly payment or make a few of them for you if you want.   Let's see what the lease payment is like on this truck. According to my calculations, if you were to lease a 2006 Hummer H3 with an MSRP of $36,295 and a selling price of $33,264.94 through GMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $433. Look at that, this is such a good deal that you don't even need to make a down payment to get the lease payment that you were looking for. With this deal, at lease signing you would have to pay your truck's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, and GMAC's acquisition fee of $595.   Car_man Host Smart Shopper / Prices Paid Forums
#84 of 409 Re: Got GMID, now what? [jorgedbernal] by Car_man HOST Jan 25, 2006 (4:25 am)
Replying to: jorgedbernal (Jan 17, 2006 3:02 pm) Hi jorgedbernal. What a coincidence, you're the second straight person who is using GM's supplier purchase program to get a new Hummer H3. Given the fact that this model has been selling pretty well, I'd say that GM's supplier purchase price is a pretty good deal on the Hummer H3. You certainly can shop around a little bit and see if you can do a little better than this price if you want.   Besides the selling price, which you should have all taken care of if you buy through the supplier program, the other main factor that impacts your vehicle's lease payment that dealers have control over is the lease rate. While many dealers mark-up vehicles' lease money factors or interest rates to add additional back-end profit to deals, I haven't seen many GM dealers do so. GMAC's current base lease rate for a 35 month lease of a 2006 Hummer H3 is currently 5.75%. I believe that GMAC uses a pass / fail system to decide who is eligible for this special fate, rather than having different rates for different credit tiers like some other banks do. GMAC is probably fairly lenient as to who it will allow to lease though this program. Whether you will be able to depends upon how dinged up your credit is.   Using the prices that you mentioned in your post and GM's actual lease program, I estimate that your 36 month, 15,000 mile per year, zero down, pre-tax monthly payment for this truck should currently be around $420.   Car_man Host Smart Shopper / Prices Paid Forums
#85 of 409 Re: H3 Lease Help [ken12345] by Car_man HOST Jan 25, 2006 (4:35 am)
Replying to: ken12345 (Jan 18, 2006 6:12 pm) Hi Kevin. The fact that you have added so many options to this truck makes than normal it more difficult to figure out what its lease payment should be. Ordinarily one would take its MSRP and selling price and plug them into the lease payment formula and come up with a payment. In this case, not only do we not know what the MSRP is, we don't even know if all of the options that are on this truck can be residualized. Just about all factory-installed options can be residualized when leasing, but many dealer installed options cannot be. Residualization means that they can simply be added into your vehicle's MSRP and selling price when calculating its lease payment. Options that cannot be residualized have to be paid for in full over the life of a lease, making them very expensive. The lease payment that you were quoted definitely looks a little high, especially when compared to the payments that I just worked up for two other community members that were in the low-$400 a month range. It's difficult to say how much higher this payment is than it should be though. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You definitely should try to negotiate the lowest possible selling price on the truck that you want prior to having the dealer calculate a lease payment on it for you.   Car_man Host Smart Shopper / Prices Paid Forums
#86 of 409 Re: H3 Lease with no GMID...Stupid? [imjj4short] by Car_man HOST Jan 25, 2006 (4:43 am)
Replying to: imjj4short (Jan 23, 2006 11:27 pm) Hi imjj4short. I am actually surprised that so many community members are able to get GMIDs to purchase this truck with. Most people who are in the market for one will not have the luxury of purchasing it through GM's supplier purchase program. If you can get one, make sure you do so because it will allow you to get the H3 that you want at a great price without having to haggle. If not, you still can get a good deal on this truck, you'll just have to work (negotiate) for it. the actual selling price of this truck is a very important number to know. If you were quoted a price of $32,000 for it, that's below dealer invoice and is a heck of a deal. The dealer must be using the $1,200 dealer cash allowance that GM is giving out for free DVD systems to achieve such a low price. If you are actually able to get this truck for $32,000, it would result in an amazing 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $387.   Car_man Host Smart Shopper / Prices Paid Forums Replies to this message: imjj4short (Jan 25, 2006 8:15 am) Car_man (Feb 03, 2006 5:01 am)

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