H3 lease and negotiations.

[Yellowtang]

I went to the dealer the other day to see what kind of deal I could get on a 2007 H3. I've never leased before but since I get a new vehicle about every 3 years, I am considering it so that I am not upside down.

MSRP of $38500. They don't have one in stock that I built but I estimate the GMS price to be $35228. Seems to be about 8.5% off most of the time.
They said that sounded reasonable but I hope they can show me that somehow as proof since they don't have an invoice to show.

They said the interest rate was 4.4% on a 39 month lease.
Does that sound right? I thought leases used a "money factor".

Residual of 57%. Does that sound about right?

$1800 due at lease signing.

Any advise on this as it would be appreciated. If you need more info let me know and I can provide it. They were very low pressure compare to any dealership I have ever bought a car at which is kind of nice.

[rkcrawl]

Goto www.leaseguide.com Has a pretty good description of how leases work and how to figure out it you are getting a good deal.

[Hummer Guy]

Dealerships don't set the residual %, rates, etc -- GM does. The only thing the dealership changes is the sales price...

[Agriv8r]

Originally Posted by Yellowtang

I went to the dealer the other day to see what kind of deal I could get on a 2007 H3. I've never leased before but since I get a new vehicle about every 3 years, I am considering it so that I am not upside down.

MSRP of $38500. They don't have one in stock that I built but I estimate the GMS price to be $35228. Seems to be about 8.5% off most of the time. IF INVOICE IS 38500, gms IS LESS THAN 35228 33XXX IS CLOSER
They said that sounded reasonable but I hope they can show me that somehow as proof since they don't have an invoice to show. If you are buying at GMS you have to verify the price on the invoice. You cannot buy a vehicle until it has been built, once built invoice is available.

They said the interest rate was 4.4% on a 39 month lease.
Does that sound right? I thought leases used a "money factor". Good rate

Residual of 57%. Does that sound about right? yes!!

$1800 due at lease signing.

Any advise on this as it would be appreciated. If you need more info let me know and I can provide it. They were very low pressure compare to any dealership I have ever bought a car at which is kind of nice.

Most of the terms are set by GM length of leases available, rate, residual, upfront fees. Dealers control the price, unless you buy GMS, then GM controls that as well.