Do You Think I Will Get Approved For A H2??

[LoLo]

Originally Posted by KenP

Honestly, It's more difficult to get financing for a vehicle versus a home. After all, the home isn't going anywhere.

...nor depreciating nearly as much!

[BigNastyH2]

Hey there,

Im new here as well (haven't posted pics of my Hummer h2 yet, But I will eventually) BUT, I do have some great advice for him. What I did when I bought mine was I leased at a 3.00% interest rate instead of an outright buy at a 7.00% interest rate and I took the ballon note at $26,000. Also I am keeping/paying off my Hummer. My reason for doing this is if I would have taken the 7.00% outright buy with $10,000 down I would have over 72 months have paid about $68,000 ($951/mo) by the end for the car, while leasing at a 3.00% rate with $10,000 down I got a note of $624/mo for 47 months with a balloon note of $26,124 so I'll end up only paying (624 x 47months = $29,328) + $26,124 (balloon note) = $55,452, which equals a total savings of $12,458 than buying it outright. Sorry for the calculations, but I'm trying to show him the smart way to buy an H2...

[phantom2]

Originally Posted by ocwescoast

Hello and thank you for looking. I am looking to lease a hummer h2 sut with gmac and wanted to know if you guys think I would get approved for it.

Maybe...

[Motohead]

You bought an apartment? The whole complex? Or are you renting an apartment.


Just curious, at 18, paying for an apartment in CA by yourself, and Paying for an H2, what do you do for work? Or is it your parents that are paying you?

Originally Posted by Motohead

You bought an apartment? The whole complex? Or are you renting an apartment.


Just curious, at 18, paying for an apartment in CA by yourself, and Paying for an H2, what do you do for work? Or is it your parents that are paying you?

Ya I bought the apartment, not a whole complex just 1 apartment. I work but my parents help me out a bit. Thanks for all the input everyone.

[Ed G.]

I'D KEEP AWAY FROM LEASES, OVERALL, THEY ARE A BAD DEAL. THEY USUALLY LEAVE YOU UPSIDE DOWN ON YOUR VEHICLE AND YOU STILL OWE A HELLA-LOT-OMONEY AT THE END OF THE TERM. LIKE OTHERS HAVE SAID, IT WOULD BE BETTER TO BUY AN H3.

ED

[HummerNewbie]

Originally Posted by ocwescoast

I work but my parents help me out a bit. Thanks for all the input everyone.

Then you might be able to pay the monthly payment but your income won't show that since it doesn't include the money your parents give you.

Originally Posted by Ed G.

I'D KEEP AWAY FROM LEASES, OVERALL, THEY ARE A BAD DEAL. THEY USUALLY LEAVE YOU UPSIDE DOWN ON YOUR VEHICLE AND YOU STILL OWE A HELLA-LOT-OMONEY AT THE END OF THE TERM. LIKE OTHERS HAVE SAID, IT WOULD BE BETTER TO BUY AN H3.

ED

Depends on the situation whether a lease is a good or bad thing. As far a leaving you upside down, you are correct but most people that lease are not keeping the vehicle at the end of the lease anyway so that really doesn't matter.

[H2Buff]

If you are upside down at the end of a lease that is great. It means the leasing company is paying for the depreciation, not you.