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Hummer H3 Lease Questions

415 messages,  Last post on Apr 27, 2009 at 5:09 AM

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

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#83 of 415 Re: Just Got my GMID & about to visit my local Hummer Dealer [cgmmny] by Car_man HOST Jan 25, 2006 (3:16 am)
Replying to: cgmmny (Jan 13, 2006 5:02 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 415 Re: Got GMID, now what? [jorgedbernal] by Car_man HOST Jan 25, 2006 (3:25 am)
Replying to: jorgedbernal (Jan 17, 2006 2:02 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 415 Re: H3 Lease Help [ken12345] by Car_man HOST Jan 25, 2006 (3:35 am)
Replying to: ken12345 (Jan 18, 2006 5:12 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 415 Re: H3 Lease with no GMID...Stupid? [imjj4short] by Car_man HOST Jan 25, 2006 (3:43 am)
Replying to: imjj4short (Jan 23, 2006 10:27 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 7:15 am) Car_man (Feb 03, 2006 4:01 am)
#87 of 415 Re: Just leased an H3! - Here is my deal... [zoomer6] by Car_man HOST Jan 25, 2006 (3:47 am)
Replying to: zoomer6 (Jan 24, 2006 12:42 pm) Congratulations on your new truck, Zoomer6. Thanks for taking the time to make such a detailed post about your transaction. I'm sure that this info will help other community members. Enjoy!   Car_man Host Smart Shopper / Prices Paid Forums
#88 of 415 Re: H3 deal in NJ [anjony123] by Car_man HOST Jan 25, 2006 (4:08 am)
Replying to: anjony123 (Jan 24, 2006 3:52 pm) Hi anjony123. The selling price that you were able to negotiate on this truck looks very reasonable to me. Similarly, the lease rate that you were quoted for it is right in line with GMAC's current lease program. Unfortunately, I believe that even returning GMAC lessees have to pay an acquisition fee on the vehicles that they lease. The fact that you are currently leasing a GM product might have gotten your security deposit waived, but that is a moot point considering that GMAC is waiving its security deposit requirement on all leases of '06 H3s right now.   I am not familiar with how sales tax is calculated on leased vehicles in your state, but you may be able to find out more informaiton on this subject by visiting the following sites: New Jersey Motor Vehicle Commission or NJ Taxation.   GM is currently providing dealers with a $1,200 dealer cash allowance so that they can provide consumers with a free DVD system in any H3 that is sold. This covers the entire dealer cost of this option, so you should be able to get the dealer that you are working with to throw it in for free.   General Motors is not currently providing any sort of owner loyalty cash on this model.   Car_man Host Smart Shopper / Prices Paid Forums
#89 of 415 Re: H3 Lease with no GMID...Stupid? [Car_man] by imjj4short Jan 25, 2006 (7:15 am)
Replying to: Car_man (Jan 25, 2006 3:43 am) Thanks, Car Man,   After seeing your numbers and reading some other recent posts, I think I see what the dealer is doing. The monthly payment quote I am getting from the dealer is about $100 more than the $387 you arrived at. However, they are supposedly paying all the up front costs so I am giving them absolutely no cash to drive away. I think they must be actually rolling that back into the lease to arrive at my $495 a month lease payment (including tax). The whole point of my paying nothing down was to allow me to pay the last 4 payments of my leased van. I really wanted them to take the van over so that I wouldn’t have to worry about it anymore but they didn’t want to. Is it dumb to let the first month’s payment, security deposit and acquisition fee be wrapped into the lease? Should I keep trying to negotiate or wait until the van is closer to being turned in? Reading the posts, $495 seems pretty steep per month for the H3. It seems possible to get the payments around $460 (including tax) but then I have to pay the up front money (first month's payment, security deposit, and GMAC's acquisition fee of $595).   Thanks for all your help!! Replies to this message: Car_man (Feb 03, 2006 4:01 am)
#90 of 415 Help with leasing H3 by miller14 Jan 27, 2006 (7:16 am)
Hi, I am interested in leasing a 2006 H3. I have done a lot of reading and feel that I am informed on the leasing process; however, I do not understand what a GMID is and how you go about obtaining one. Is there any way that I can get this? If not, do I need this to get the best possible deal on leasing an H3? Thanks in advance for your help! Replies to this message: Car_man (Feb 03, 2006 4:04 am)
#91 of 415 Feb 06' Lease Incentives by fafaafooie Jan 31, 2006 (3:59 pm)
Hi Car Man- Would you happen to know yet if the lease rates will be changing for February? Also does $522/month sound right for a $39.5K H3, at 39 months, with 15K miles and $1200 out of pocket.   Thanks   FFF

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