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'recredit 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 nextto 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) willbe 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!!!!