ok, so I leased a very basic H3 2 years ago. it really had no options, and at the time had a sticker of $31k. We all know what happened: 6-months after I leased the truck, you could buy it new from the same dealer for $21k. I am stuck with a contracted residual buyout of $24k. the car has less then the contracted 20k miles. I would consider buying the car at street value, but $24k is crazy. I would also consider a re-lease, but they don't do that. anyone have any ideas? I don't really need the truck, but if I could score a sweet deal, I would go for it. thanks for the help

 

Sorry about your luck. A lot of people found themselves upside down on Hummer purchase / leases. Not really much you can do.

 

try another GM dealer. ask them to wholesale buy it from the lease company and sell it to you. try to get it cheaper than the lease buy out. not realy suposed to but you may find a dealership itching for a sale...

 

Same thing has happened to me, but a buyout of 24k at the end of your contract doesn't seem right. I have an 08 that is contracted for 39000 miles and the buyout is 20k and change. I have been considering trading it in for another H3 or H3t, but most dealers said they have to "build" money into future payments because the value isn't there. A local dealer that I do business said that GM sometime has pull ahead programs for leases if your lease contract is close to being up (say 4 or 5 months from now).

Negotiating with GMAC is impossible. They have you locked into the buyout on the contract and they will not go lower.

I would consider (as I have) trading it in for a similar optioned H3.

 

You have just told MY story. I have an '08 Alpha with a 2 year lease that is due to expire in 6 weeks. I only have 12,000 miles on it. I WANT THIS TRUCK! GMAC won't even talk to you. My buyout is $28,531. When you add in the plate transfer, DOC. fee, sales tax, extra overcharge tax, blah blah blah tax, it comes to $30k. Throw in another $2k for the 6 year extended warranty, and I'm talking $32k. Due to the fact I have taken extreme care of my Hummer, and it only has 12,000 mi., for all practical purpose, to me, it's a 'brand new' Alpha for $30k. The only way to get a little knocked off the price, is to have the dealer buy it back from GMAC, and sell it to you (has to be your spouse, or family member, as it cannot be sold back to the lessee). And I'm not talking any huge amount....maybe $500 - $1000. I'm gonna go for it.....I love it that much

 

what kind of hummer do you have?

 

'08 H3 Alpha

 

2006 h3