Newbie here - lease assumption?
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Newbie here - lease assumption? - 8/11/2008 6:36:59 PM
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MichiganMan
Posts: 1
Joined: 8/11/2008
Status: offline
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This sure looks like the right place - I''m in the market for an SUV that can haul my 2 kids, dog, and tow a small fishing boat. I just sold my Exxon Valdez (2005 Ford F-250 Crew Cab 4x4 V-10 - 10 being both the number of cylinders *and* the MPG). I''ve been mostly looking at Ford Explorers and the like, but happened on a lease assumption deal locally. It''s a 2008 H3 with the Adventure pkg, Monsoon, etc. Looks like it would fit my SUV needs, and the lease has about a year and a half to run @ ~$400 / mo. I''m seriously tempted, but am concerned about the mileage (surprise) and the visibility out, especially in back. My 4 year old has a hard time seeing out from his Mom''s 2008 CTS, I don''t want him to think he''s in a cave in my truck.
Thoughts?
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RE: Newbie here - lease assumption? - 8/11/2008 7:34:00 PM
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Doc Olds
Posts: 3804
Joined: 7/11/2007
From: Boat Town USA (Michigan 48045)
Status: offline
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Welcome to the forums.
My kids really like my 3, they come with big mirrors  for looking behind you, if you are tall visibility is not as bad as some others.
My mileage is ok, I run Mobil1 synthetic with some performance mods and can get 18.5 mpg all summer long.
Good luck with your decision.
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RE: Newbie here - lease assumption? - 8/12/2008 3:18:04 AM
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Wrongway1
Posts: 220
Joined: 8/24/2007
Status: online
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Kids are grown and gone, so I cant help you there!! But the mileage is much better than any ford I''ve driven at about 19 MPG''s. What the H3 lacks in the mileage category, is payed back 10-fold in the "still-cant-wipe-the-smile-off-the-face" fun to drive category. Traded my Expedition off on the H3 over a year ago and don''t miss the Ford one bit!!
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RE: Newbie here - lease assumption? - 8/12/2008 5:49:06 AM
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mountainbyker
Posts: 5
Joined: 7/7/2008
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I''ve had my H3 (Alpha) for about three months and average 13.5MPG with a commute that has lots of hills. I was concerned about rear visibility and hoped I''d get used to the lack thereof but I haven''t. In fact, I''m considering having a backup camera installed.
On a positive note, I would not trade this car for anything. I can''t explain it but I enjoy driving it more and more every day. I leased mine with several options for right around $400 too which made it a no brainier for me.
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RE: Newbie here - lease assumption? - 8/12/2008 8:10:43 AM
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James Coker
Posts: 32
Joined: 7/8/2008
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We have 2 kids(boys 6 & 7) and they both love ours. My wife loves the fact that the windows are smaller, because she fells that no one can reach in and get her. She was previously driving a Yukon XL. She also loves the fact the vehicle is so sure footed on the road and off road. Good luck to you in whatever you decide.
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RE: Newbie here - lease assumption? - 8/12/2008 9:31:50 AM
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Black_Impala
Posts: 180
Joined: 5/31/2007
Status: offline
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My 4 year old loves it. It''s all he wants to ride in. 13-14 mpg city. 17.5-18.5 highway.
_____________________________
2007 Hummer H3
I can't spell, get over it!
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RE: Newbie here - lease assumption? - 8/12/2008 12:15:58 PM
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alrock
Posts: 1058
Joined: 5/12/2007
From: Scottsdale, AZ
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People say I sometimes I act like a 4 year old - and I love the H3. I average about 14mpg in mostly city driving. Should be able to satisfy your needs.
quick check - the tow package is not standard on the H3. Make sure it is installed on yours already or plan on a couple hundred to get one installed. The aftermarket ones hang below the bumper vs. through a cutout on the factory ones.
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RE: Newbie here - lease assumption? - 8/12/2008 5:37:14 PM
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Wrongway1
Posts: 220
Joined: 8/24/2007
Status: online
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I had my H3 about 3 or 4 months when I really found out how poor the rear visibility was!! That cop was really pissed when I backed into his patrol car while arguing the validity of the fire code as it relates to parking in front of a retail facility. Darn, I thought he was a rent-a-cop until I looked in the rear view mirror and saw the Twin Sonics 
< Message edited by Wrongway1 -- 8/12/2008 5:38:25 PM >
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RE: Newbie here - lease assumption? - 8/13/2008 5:56:36 AM
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Trey124
Posts: 4626
Joined: 7/20/2006
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Get the rear backup camera option and you won''t have any problems. I get 17 mpg.
_____________________________
Slate Blue ''07 H3 Owner, THCI member and Driving Academy Graduate For Off Road Use Only & ''08 Boulder Gray Metallic H3 Alpha for the street
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RE: Newbie here - lease assumption? - 8/13/2008 7:37:42 AM
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Camou2
Posts: 210
Joined: 6/24/2007
Status: offline
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You will love the H3! I agree with the backup camera option. I am not sure I would jump on an existing lease with a high residual value! May be better off buying new! Just a thought!
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2006 H2 & 2008 H3 Alpha
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RE: Newbie here - lease assumption? - 8/13/2008 7:57:26 AM
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ockie
Posts: 463
Joined: 7/27/2007
Status: offline
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Hi MichiganMan, I have sent you a Private Message.
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RE: Newbie here - lease assumption? - 8/13/2008 8:38:53 AM
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SandT_H3
Posts: 38
Joined: 2/10/2008
Status: offline
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As far as the lack of visibility goes, it is not too bad. From the back window you do have some restrictions, but I fixed that with a camera. I just got my camera from Target for $99 and it works great. Plus depending on what it is you want, you can either hook the camera to the backup lights like you are supposed to, or you can hook them to the parking lights so that you can have it on when you are driving down the road too.
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RE: Newbie here - lease assumption? - 8/13/2008 2:23:35 PM
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GreenH3
Posts: 125
Joined: 10/3/2006
Status: offline
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Avoid a lease. (my personal opinion as well as many of the top investment experts)
I put an RV magnifier in my rear window.
Back up Camera would be a nice option.
The mileage difference between the Ford and the H3 is minimal.
Kids Love my H3 want to be in it all the time, have never mentioned the cave thing.
_____________________________
"My guitar will NEVER gently weap"
-Ted Nugent
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RE: Newbie here - lease assumption? - 8/13/2008 8:34:56 PM
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H3minusH2
Posts: 15
Joined: 8/5/2008
Status: offline
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Newbie,
$400 is a great payment on an H3, especially compared with the rates and residuals in today''s leasing market...and I do know as I work as a manager in a HUMMER dealership now and was a finance manager there for over 4 years. Today, it will cost you over $700 a month to lease a new truck and with the drop in value all SUVs have suffered, buying is just plain stupid unless you''re buying a certified pre-owned truck from a HUMMER dealer. I can buy 06 H3s off of SmartAuction all day long for 14K. Remember, you buy what appreciates and you lease what depreciates, despite what the uninformed have to say about leasing. My 06 H3 (same config - Adventure, 33" tires, etc.) averaged about 16 - 16.5 MPG during my daily commute of 70 miles (mostly highway with some morning brain damage congestion, some creeping along at 5 MPH through the toll booths and past the airport, etc.) and my 08 is doing about the same. As for the vision out of the rear of the truck, it''s not the best, but it''s liveable. If you level the front with the Cognito/Bilstein shocks, the rear vison improves dramatically. However, if you just pay attention you won''t back into anybody, especially a cop with lights on the top of his car!!! As for your 4 year old, while I love kids, he''ll get over it and quite honestly, he''ll never know the difference. Even if he thinks he''s in a tunnel, which he won''t cause 4 year olds don''t think like that...c''mon, he''s 4!!! 18 months in his life is like 18 days!!!
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RE: Newbie here - lease assumption? - 8/13/2008 8:53:45 PM
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H3minusH2
Posts: 15
Joined: 8/5/2008
Status: offline
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Newbie,
One more thing...definitely want to make sure the lease is a closed end lease. These trucks had amazingly high residuals which resulted in such low payments. The buyout at the end of my 06 lease was $26K...the truck was worth $12-13K. That became GMAC''s problem, not mine like it would have been if I had bought the truck. If the lease is a closed end lease, the lessee is not responsible for anything at the end of the lease besides excess wear and tear and mileage. If GMAC is the lessor, I can provide you with all of the information you need to make an informed decision regarding end of lease charges. Remember, the residual is not your problem, it''s the lessor''s...that''s the beauty of leasing!
_____________________________
Her truck - 2002 Pewter H1 Wagon (as seen on Speed TV''''''''s "101 Cars Your Must Drive"...yep, that was our Arnold!!!)
His truck - 2008 Solar Flare H3 Adventure
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