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THanks! Looked at other dealers before taking over the lease!
by dawnie417 on Sat May 10 07:06:24 PDT 2008
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.! :)
Taking over a lease - good deal?
by dawnie417 on Wed May 07 17:11:06 PDT 2008
Hi there! I am totally estatic that I found this board!! I'm not sure how "fast" you answer questions, but I hope you can answer this before Saturday. Anyway, I've read some of the posts already and have learned alot. My question: We have NEVER leased before, and have considered leasing a H3. Long story short, on the news here in NJ they spoke about leasetrader.com (where you can take over other pple's leases which can be a great way to save $$) so we looked and we stumbled upon a 2008 H3 to take the lease payments over. It's in the next town over from us, and the guy doesn't need it anymore cuz he moved to NYC. Here is the info: ~ 2008 Hummer Sport edition ~ Value of it was $35,000. He put $3,000 down and the lease is for 36 mos. with the option to trade in during the 24 month. He's in the middle of his 5th month into the lease. Monthly payment is $379/mo including taxes. 12,000 mileage allotment per year. .10 cents over for each mile over. ~ The lease is with Gold Coast HUMMER of Oakhurst, NJ. He has 5000 miles on a 12000 mile a year lease which puts it under the monthly limit. Other info: He added chrome inserts on the top grill of the hood along with a chrome gas insert and chrome side molding. It's all black with tinted back windows and black and red interior. Added features include a CD player along with XM and Onstar/Onstar telephone. Outside thermostat on the rear view mirror and mirror itself dims according to time of day. The only thing we would have to pay is $595 for GMAC for the transfer of title, dmv fees and all that crap. The owner even offered to chip in some of that cost. He is also throwing in his TomTom GPS. Unfortunately it doesn't have leather or a sunroof...2 things we really like, but are willing to sacrifice that if this is a good deal for us considering we pay nothing down since that was already done! :) SO MY QUESTIONS are as follows: 1) Is this a good deal for us? I'm thinking it is for us, considering we are not shelling out a dime (besides the fees to GMAC). Also, out of curiousity, did this guy get a good deal out of it (he put $3,000K down)? 2) Is there any "downfalls" in doing this by taking over a lease? Anything to 'watch' out for? Would like to hear your opinion on this. 3) Concerning buyout: I asked him about the buyout and his response was this: "I just spoke with the dealer, it was kind of high he said due to the fact of the condition that I described to him. Rough estimate of 28000 (he said he needs to see the car to get an exact). It retailed at 35,000 though." Thoughts? 4) He said the car is only a few mos. old. Does this buyout number drop as the car ages??? I'm a little confused about the buyout thing. Not sure if that seems high or not and if so, does that number drop? THANK YOU SO MUCH FOR YOUR TIME. I would love to hear your opinion on this. We are looking at it on Saturday, and would love to hear what you have to say about it and if you feel this is a good deal for us or not. :) ~Dawn
Newbie, who's looking to lease a 07 H3 Base
by jhuffman on Sat Jun 30 18:18:16 PDT 2007
Hey Car_Man, Thanks for taking my question. Does a residual value of 28,795 sound "kinda" high. Should'nt it be around 20-23,000 on a 39 mos lease w/no money down w/10000 miles a year, on a 07 Base model H3 w/tow package and xm radio. My salesman gave me this number before he even ran my application. I should know the Money Factor...right? I have a Chevy S-10 Zr2 that I still owe 10,885 on and I figure I have close to 4500 in equity in it and they offered 12000 for it. Should I negotiate more for my trade? Fair market value for it is around 14,000-16,000 Any advice would be greatly appreciated ! Thanks, Jeff
press request
by kirstie_h on Wed Jan 24 07:29:11 PST 2007
A national news magazine is looking to interview recent GM car buyers (Chevrolet, Pontiac, GMC, Cadillac, Saturn, Buick, Hummer, Saab) that switched from a Toyota or considered purchasing a Toyota. If you are interested, please send an email to ctalati@edmunds.com no later than Monday, January 29, 2007 containing your daytime contact information.
Opinion on this deal?
by gtli on Mon Dec 18 17:36:59 PST 2006
H3 base, MSRP $32,700 $1,500 down, 12 k/yr, $380 at 39 mos, 397 at 36 mos?
Personal Property Tax in lease payment?
by carrie3 on Wed May 03 10:27:09 PDT 2006
We decided on a different H-3 than my last post. Here's the offer: Red H3, Luxury Pkg. Adventure Pkg, Chrome appear Pkg., sunroof, brushguard, side airbags, monsoon stereo, etc. MSRP: 38,600 GMID price 35,000(Thanks Paul) conquest cash -1,000(I own a Ford Explorer) base cap cost 34,000 (happy with this #) lease quote(GMAC): 39 months/34,000/0 down 63% residual value APR 6.75% (dealer is adding 1% for themselves to GMAC's 5.75%) MO sales tax rate is 7.075% MO personal property tax (roughly 1/3 market value x 7%) Monthly lease payment $510 (I can't figure out how they're computing this) $595 GMAC admin fee + 1st mth lease pmt due at signing 1. Is that normal for the dealership to add a point onto the interest rate for themselves? 2. Do personal property taxes usually go into the lease payment? If we purchased the car we wouldn't owe PPTax on it until December 2007(based on property owned on Jan.1 each year)! 3. When I run these #'s through leaseguide.com I come up with $430 before personal property tax. I guess the difference is PPTax $80/mth? I'd appreciate any advice! I want to go buy it soon! Thanks in advance, Carrie

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