H3 Alpha Deal

So, I am looking for an Alpha and here is the latest deal I got on a lease.
36 months / 12,000 miles per year  $1475 up front = $477 + tax = $509 per month. This is figured at a sale price of $36,800. Invoice on this vehicle is $37,350. MSRP $39,260 and the residual is $23,574.
 
I am seriously considering taking the deal, but trying to get the light bridge included (so cool):
 
Good, bad, what do you guys think?

Reasonable deal but don't lease it.... Buy It!!

Why not lease it for three years, then if I want to buy it I just pay the residual ($23,000) at the end of the lease. Like that I have the option.

Leasing is always more expensive in the long term.  Insurance is in most cases more expensive under a lease.  Interest rates are generally more expensive under a lease.  There are mileage restrictions under a lease.  There is that very possible chance that your leased vehicle will have more than normal wear and tear when you turn it in at least in the eyes of the dealership.  It is really expensive to get out of a lease early.  There are some on-line web sites that I feel sure will deal with a specific instance of Is it better to lease or buy.  I know Edmunds.com has some basic info on lease versus buy decision process. 

$509 per month x 36 months = $32,067

Add your risidual @ $23,574 and you bought an Alpha for $55,641 with an MSRP of $39,260.  If you finance your residual too you will easily pass $60k.

I suppose straight financing would be similar, but you would be wise to wait for one of the %0 finance offers if you don't have the cash.

36,800 at 6% APR to own after 60 months would be ~$750 per month with no money down.  Total layout after the loan would be 45k.  If you're going to own it, either negotiate to buy immediately or get that residual down on that lease... WAY down.

I own a business so I leased my new 08 Hummer.....I'm paying approx $530 per month, which equals $20670.00 for 39 months/5% interest rate.....residual value is high on these vehicles which is good. Oh and I have 12,000 miles per year, so 36,000 for the lease term. It's approx. $45K to own the hummer. Near the end of the lease I will receive 4 offers: 1) Regular Buyout 2)Have someone else assume the lease 3) Turn it in and go for a new H3 4)Keep it. Also possibly have the option that GM will pay the last 4 payments on the lease (they do this usually in Dec.) and purchase new H3, so there is actually 5 options.
I also computed a regular loan....the payments were in the high 600's / 8.24% interest rate, and if you kept the loan out for the entire length is was going to be around $53K.....OUCH! There interest rates are bad for regular loans right now.
So I really don't know which is better....lease or loan....This is my real true lease...so I'll let you know as it goes....plus with only 36K miles when the lease is up I still will have enough time to decide if it's worth keeping....after all the 08's have 50,000 bumper to bumper, and 100,000 powertrain. It all depends on how my little hummer treats me......

Credit unions around here are offering 6.75% on new car loans up to 72 months. Are you financing througn GMAC, your bank??? That sounds awfully high.

I just bought my 08 H3 Alpha.  I ordered it from factory. $45,245.00 - $3,500.00 Rebate = $41,755.00x 8.25% tax - $45,199.78 - $4,200.00 down = $40,999.78 @ 5.62% = $1,280 x 36 months.
 
Buy Don't Lease!!!!!!!!!

If you can get the cash incentives, get a GMID from someone here, you're already taking a huge chunk off sticker.  If you're credit is OK to excellent, you should be able to get into a credit union and get 6.5% to 7.5% and be able to get a cheaper payment. 
 
Leases are OK if you drive next to zero miles, aren't going to modify the truck at all (I'm not sure this is possible with owning a HUMMER ), aren;t going to off road (you have to bring this truck back to new at the end of your lease) it may be a good option. 
 
So take this $39,000 truck
  - gmid (supplier discount) -$4200
  - down payment             -$1500
  - current incentives        -$2000
total before tax: $31,300 
 
$620/month on a 60 month note @ 7%.    You could take that all the way out to 72 or 84 if you wanted to.  Your insurance (as mentioned already) will be more money.  Keep in mind the HUMMER windshields are magnets for rock and so are the flares on these trucks....so plan on having those replaced when you turn the truck in at the end of a lease.  ...just my 2 cents.  I'd never lease!!!!

I agree I would never lease because there are too many restrictions. At the end of the lease they nit pick you to death for every scratch and ding and on a Hummer you will have your share of them unless your truck is just a grocery getter.
 
Between the GMS and Year End Discounts I saved $8450 off the Sticker price. I got 5.9% financing from my credit union for 60 months. I put down 20 grand and borrowed 16 grand at 5.9% so my payment is $323 for 60 months with life insurance on the loan. So with the payments of $19380 plus the $20000 down payment I will have bought my 08’ H3 Alpha for a total of $39380.
 
Window Sticker….  41450.00
After GMS………...   36999.25
Instant Rebate…..  -1500.00
                          35499.25
End of Year
Cash Back………......-2500.00
                          32999.25
Roof Marker
Lights………….......    +895.00
                             $33894.25 plus 8% sales tax = $36605.79 total

Right now we are trying to buy an h3 got about 5 dealers in the area working on my price
 
Timgco you mendtioned a GMID how do I get one of those?
 
and can anyone tell when the best cash backs are or if we can predict them a little?

LEX, just start a post int eh general section of the forum asking for help with a GMID/ Supplier cert.  Since I'm newer to this forum, I'm not sure who can help here with that.  It seems "other" forums have multiple members that can help out with these.  I'm sure that's true here as well. 
 
 

quote:

ORIGINAL: lex

Right now we are trying to buy an h3 got about 5 dealers in the area working on my price

Timgco you mendtioned a GMID how do I get one of those?

and can anyone tell when the best cash backs are or if we can predict them a little?

 
lex,
We've only got one Hummer dealer within a 100 mile radius so our dealer makes no deals! You can usually pay invoice but that’s about it.
 
Right now I don’t think they’re offering any cash back incentives but you can check by looking on the official Hummer site.
 
I don’t know how you would get an Employee Discount I. D. number other then a relative. That’s how I got mine.

This is my first post here so it probably doesn't mean much...lol...but here is my opinion...
 
A lease is not a bad way to go if you typically trade your car in every 2-3 years. Usually people will get a 60 month loan or even 72/84 but still trade their car in every 2-3 years...in which case they end up upside down. We just turned our 3rd Range Rover in with a few dings here and there and they didn't give us any issues. Obviously Hummer/GM may treat you different but our leasing experiences have been good and work well for our situation. If you plan on putting tons of miles on your car or you want to modify it you may want to consider a purchase.
 
Anyway thats my opinion on that...
 
As far as rebates go I can't remember the exact numbers but we just found an Alpha/Adventure with an msrp of 45k(i think) that the dealer sold for invoice minus $3000 in rebates which put us in the high 38k range. If it matters I can get the exact numbers tomorrow. It seems like a great deal, especially if some of you are dealing with dealers that won't budge on their prices! The plan is to go buy it tomorrow so I will definitely let you guys know how it goes.
 
 
P.S. when I do the math on $509x36 months I only come up with $18,324 +$23,574 which equals $41,898 +$1475 "initial investment"(lol.) Which doesn't seem too bad but I really wouldn't recommend leasing the vehicle if you intend to keep it. I think you come out way ahead to just purchase it unless you want to get something new in 36 months.