H2 Lease Turnin

[porschett]

Happy Thanksgiving!

My 06 H2 lease is up next month, and I really want to keep it, but not at the residual. My question is, Has anyone bought their Hummer back at the end of the lease, and did the dealer negotiate the price? Also, is it possible to extend the lease? I'd like to wait a few months to see what's going to happen with the 2010 model.

Thanks in advance!

[Intercooled]

I leased my 05. I turned it in at the end. they wouldnt negotiate the buy out. I wish I bought it out though. The residual at the time I believe was 32K. Right at book value. Oh well, found another H2 and am happy. What is your residual? It may be worth buying it out? Then trade it in for a new model if they come out.

[timgco]

Don;t expect a 2010 model. :crying:

[BradO]

If you want to keep it or inquire about pricing, GMAC handles that. If you want to turn it in, expect a kit to arrive from GMAC and you can go to any GM/Hummer dealer for an inspection. Don't expect to negotiate very much with GMAC. If you turn it in at a dealership, the dealership could then sell it back to you. They could also sell it to somebody else or be required to send it off. Check with your local Hummer finance dept about those options. Thanks...

[twr]

Hi dealers here will Not deal on lease returns. They would rather send it back to gm and with the way things are today?

[pteam]

Dont keep it. The 2008s + have more power, a 6 speed tranny (big difference), slightly better fuel economy because of the 6 speed, and a better interior and more comfortable seats, including air conditioning and heat vents for the 2nd and third row seats. After owning like 10 03-07 h2s I would never go back to less than a 2008 for my personal use, its that much better.

[Mark805]

I was told that the dealership would have to buy the rig from GMAC first.. then a deal could be made. I'm not sure how accurate that is but it would seem to make sense as the truck is with GMAC.

Let me know what you find out... I'd love to know first hand how that works out.

[porschett]

I was told that the Hummer would probably go to the auction first. My residual is $36K, with average selling prices around $30K in this area. GM carries residual insurance on all it's high end leases, so the only way they can collect is by selling it for whatever it brings at auction and claiming the rest on the insurance.

I hate giving it up, I know what I have. It's Never been back to the dealership for anything. I put gas in it, change the oil, and rotate the tires. Not bad for 28K miles!

[twr]

Hi send it back, you would look good in a 2009 h2. Alot more power and i think nicer inside. Remember you only go around one time.