Hi, I have a 2006 Hummer H3 that the lease ends in October of 2009. Does anyone know if I can change it to finance, and how much more that will probably cost me? I think that is a better idea, or else at the end of the lease I don't keep the car - Finance may be better now that H3 prices are lower due to gas - maybe it will be a bit easier.

 

The only way you will really know is to call the manager or F&I guy at the dealership. Usually early termination of a lease is an expensive proposition. You might come out better moving from the 06 to an 08 at the dealership if they have a lot of inventory. I would first call the dealership and see what options they are willing to discuss.

 

Not really...


You could call GMAC and get your payoff, then see if your bank would be interested in financing that ammount but I'm guessing that your payoff is much higher than current market value (due to the big hit all SUVs had in the last 2 months), which means it would be harder to finance the vehicle at that price right now. I would ONLY pursue this option if you plan to keep the car longer than your original lease, AND you can lower the rate you have on the current lease.

The nice thing about a lease in this crazy SUV market is that you can be FREE and CLEAR in a year w/ out being upside-down in your vehicle for several more years. However, GMAC is going to take a bath when these SUVs are turned in and the residuals are so much higher than market value...

 

I agree. With the market the way it is right now, and the way it's looking for the future, I would def. stick with the lease.

 

I was in a similar situation two weeks ago. I had an 06 due to come off lease in two months that I was just going to finance through my local bank. Then the $7000 off came out and I purchased at invoice plus minus $7000 with a 2 month pull ahead on the lease. The list on my vehicle was 40000 and I end up with a new warranty and 30 miles on my vehicle. Penfed (pentagon federal credit ) had a 4.25% rate. Good luck

 

I really doubt this: but if I was going to turn in my H3 at the lease, the only thing I might turn it in for would be the H4 (if made) or the new Chevy Camaro. However I love my 3 right now even with the gas.

You can purchase your vehicle at lease expiration, turn the vehicle in and walk away or start a new lease.