Trading an 04 for an 05

[NJ H2]

With the GM employee pricing I may trade my 04 SUV LUX/AIR/ROOF for an 05 SUV LUX/ROOF. Has any one done this and what should I expect to pay mthly if I use Smart Buy? I just got quoted $775.00 with 0 down and 15,000 miles.
Does this sound right?
Last time I just financed so I'm not to sure about Smart Buy.
TIA

[Denny Crane]

H2 guy, please don't get me wrong, I'm not a role model for anything.

I just don't understand leasing vs. long time ownership.

I'm certain there are benefits to both.

My ending statement was my only point, I'LL never buy a new vehicle again.

Denny

[H2 Guy]

Yea that's under a smart buy. To be honest im not sure, I left off with them that if they get me in under $600. Saturday I'll come in they have the truck cleaned and if the numbers were good I'd do it. but he said 3 yrs I could pay the balloon payment, or refinance, trade in and get another ... my smart buy is 3 yrs w/ 15,000 a yr..

[H2 Guy]

Well, with it being a 03 and my mileage only going up the value is not going up with it that's for sure.. what will it be worth in just couple of months when the 06 is out.

I agree partially with what your saying on some of these programs but IM not in that boat I can afford my truck IM just upgrading.

Look at it this way. would I rather spend $62k up front or make payments and invest the rest of my money in the bank or what ever, I know what I would do! My truck, your truck lost $6000 give or take in value the minute it left the showroom. so like you mentioned it all depends on what's a positive thing. Thanks for you thought ...

[Bill Kervaski]

I got 38.5K for my 2003 37K miles towards an SUT.

[HummerNewbie]

Sounds to me like you would get screwed but don't know. Really low tradin they are giving you. What do you owe on the '04? This could be the key to everything.

[H2Blondie]

The interest rate GM quoted me last week, and is on their finance website now, is 7.5% on a SmartBuy. After that you have a payoff that will probably be more than the fair market value at that time or another note if you decide to keep this one!

These tend to work well for those who put few miles on their vehicles and trade often.

[H2 Guy]

I just went last night to do the same thing. Im trading in my 03 lux w/47+on the odo for the 05 lux w. chrome pkge,navi.all that good stuff the sticker was like $62. .

i owe $22,288. there giving me $32,000 for my trade in and paying off my loan and IM jumping into the 05 for under 600. a month i was told but well see def. tomorrow. i pay $490 a month now so i said if they can match that or something not to far off that number Im in, so the trucks get'n prepped and Saturday morning i'm hopefully be driving a new H2...

[H2 Guy]

NJ H2 IM paying $490 now on a buy and back in 03 I put $23,000 actually trade in my Z71 tahoe for it. But I just spoke with a friend who's a manger at a dealer ship who has a whole sale buyer that would give me $34,700- $34,500 plus my friend printed out a sheet that shows what are trucks are going for at the auctions. He said i should def. beat them up a little more to get payments down to at least $540.... also if you think about for me (my situation) i have no warranty so let's say i buy a extended warranty from a company IM looking at least $3000. so you figure what about $100 a month IM better off jumping in something newer and spend the extra hundred there then on my 03..in my opinion

[RiverRacerX]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content"> I may trade </div></BLOCKQUOTE>
Good luck. The GM discount kills trade ins too. I wanted to trade my '03 Escalade for an '05 SUT. But the trade in value is peanuts. Not worth it to me.

I was quoted a lease of $748/36mo/15K/$1200 down for a Lux SUT with air bags. no Nav.

[NJ H2]

They were giving me $35,500 for my 04 with 25000 miles but the tax savings was a little over $2000 so effectivly I would be getting $37,500 for my H2
If I do it, they won't get any of the aftermarket mods I added to my 04. they will be coming with me!

[NJ H2]

I only owe $28,000 so they would be giving me money but I decided against trading last night and here's why.
It seems to me that GM has figured out how to offer employee pricing and keep the payments the same as they were before! Correct me if I'm wrong but even before employee pricing the monthly payments were the same as they are today, around mid to upper 700's.
For every $1000. down you can take off aprox $30.00 from your mthly payment. So if GM is taking $8000 off the price that should = $240. in payments. That means that if they are offering me the 05 at $775. a month now then before employee pricing it would have been $775. + $240. totaling $1015.00 A MONTH!!! and I don't think anyone has paid that for an H2!!
Something is just not adding up!

[NJ H2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Bill Kervaski:
I got 38.5K for my 2003 37K miles towards an SUT. </div></BLOCKQUOTE>

Bill, was that recently?

[HummerNewbie]

Good eye NJ, I didn't think of that. You should be able to get it to $600/month with nothing down.

[lexpro]

35500 is too low unless the rig has previous damage or is rough....they are bringing 38-42k this month at Manheim PA (largest in NE US) auction..

[Bill Kervaski]

@NJ H2,

Yea, this week.

[Denny Crane]

I guess it all depends on how long you plan on keeping the vehicle.

I've yet to hear a positive story from leasing or balloon payments. It seems the programs, smartbuy, lease to buy Etc. were created to get folks into cars they normally couldn't afford with very little thought as to what happens at the end of the lease.
I don't understand how someone can afford to take a 20K depreciation in 2 years and still consider a smartlease Etc. a positive thing.

Seems to me keeping a vehicle longer and selling once the depreciation has leveled out or trading for a demo car would be smarter.

I don't think i'll ever buy a new car again.

D

[NJ H2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by H2 Guy:

i owe $22,288. there giving me $32,000 for my trade in and paying off my loan and IM jumping into the 05 for under 600. a month </div></BLOCKQUOTE>

We both have a similar amount of equity in our H2's but here is my problem. If you owe $22,288. and they are giving you $32,000. then you are handing them almost $10,000.!! Your payments better be under $600.00 I just can't see handing them that kind of cash on a "Smart Buy" = Lease
GM must have increased the interest rate within the "Smart Buy" to keep the payments the same as they were before "Employee Pricing"

[Dug]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by NJ H2:
They were giving me $35,500 for my 04 with 25000 miles but the tax savings was a little over $2000 so effectivly I would be getting $37,500 for my H2
If I do it, they won't get any of the aftermarket mods I added to my 04. they will be coming with me! </div></BLOCKQUOTE>

Keep that snowplow.

[NJ H2]

With the GM employee pricing I may trade my 04 SUV LUX/AIR/ROOF for an 05 SUV LUX/ROOF. Has any one done this and what should I expect to pay mthly if I use Smart Buy? I just got quoted $775.00 with 0 down and 15,000 miles.
Does this sound right?
Last time I just financed so I'm not to sure about Smart Buy.
TIA