Would now be the time to score a Hummer? - Fuelly Forums

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Old 06-15-2008, 06:46 AM   #1
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Would now be the time to score a Hummer?

I know right, crazy idea. But I am looking into getting a new car, and I've been mulling over possible ideas. On eBay, there are used H3's just a couple of years old, all well under 50k miles, selling for under 20k. Sticker price just a couple of years ago was 35k or more. So in just a matter of a couple of years, these cars have depreciated by nearly 50% despite having very low mileage.

Who knows, if Barack Obama turns out to be a miracle worker and lowers the price of gasoline, then maybe I could turn a profit on these. On the more realistic side, the 2006 model H3 with a 5 speed manual trans was epa rated at 14 city and 18 hwy (16 combined). What do you guys think? Could I squeeze enough out of it through EOC, P&G, a massive grill block, and a much needed airdam to make it worth considering?
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Old 06-15-2008, 06:54 AM   #2
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You won't get many optimistic responses here. I'll offer one.

I don't think the president has much power to affect gas prices. There are theories that the current prices are a bubble which will burst and prices will fall.

Either way, if an H3 is right for you, then now certainly is the best time to get one. I had no idea they offer a manual transmission.

You will absolutely be able to beat the EPA estimates by far. You're beating the EPA by an astounding 94% in your little car that's already designed for efficiency, I wouldn't be surprised if you could surpass it by doing the same things in the H3 as you're doing in your car.
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Old 06-15-2008, 07:05 AM   #3
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I'm surprised the H3 has such terrible FE. Thats a mid-sized SUV and is not much better than the Denali I have (EPA 12/16 14comb).
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Old 06-15-2008, 07:51 AM   #4
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Consider this:

Assume gas prices will go down, up, or stabilize.

Divide your mpg into 100,000 miles.

15 MPG=6666.6 gallons
30 MPG=3333.3 "
45 MPG=2222.2 "
60 MPG=1666.6 "

Now lets guess on the average cost of gasoline for the next 100,000 miles

$4=$26,666.40,--$13,333.20,--$8,888.80,--$6,666.40
$7=$46,666.20,--$23,333.10,--$15,555.40,--$11,666.20
$10=$66,666.60,--$33,333,30,--$22,222.20,--$16,666.60

If you gamble on fuel prices dropping you may be right, but what if you are wrong. Look at the fuel cost, and more importantly understand that the current price of any gas hog will only level off if fuel prices stabilize.

Regardless of the future cost of fuel the 100,000 miles fuel cost will easily outweigh the cost of the vehicle.

Now suppose in the next 5 years vehicle mileages increase by 50%, or even (perish the thought) 100%.

Your vehicle is now rolling scrap metal.

regards
gary
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Old 06-15-2008, 08:00 AM   #5
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Personally I see the H3 as a pointless POS, an avalanche with a high drag bodykit. I'd say it's a good time to buy a large vehicle with a real world purpose. But not a poseur mobile, that era may be permanently dead.
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Old 06-15-2008, 08:29 AM   #6
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RW, it's not an Avalanche underneath the skin. It's nowhere near as large or capable. The Avalanche is a full size, the H3 is "mid-size".

I didn't realize just how lame the H3 is. I never bothered to look at it. Here's how lame it is:
http://www.itsahummer.net/article.php/20061107173850472
GVWR: 5850lbs
GCWR: 9500
Max tow: 4500
Max tongue: 400
Engine: GM's modern pig -- I5 3.5l 242 lb-ft@2800 rpm 242 hp@5600 rpm. Lots of folks with the Colorado/Canyon report being unsatisfied with it due to power, efficiency, and reliabilty concerns (based on actual reported experiences by people on GM truck forums). I'm sure there's loads of people happy with it, but there's way too many unhappy with it for me to believe it's good.

Okay, I have to agree with RW. Unless they built some really great off-roading ability into it, which I doubt, it's a poseurmobile.
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Old 06-15-2008, 08:36 AM   #7
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Originally Posted by RoadWarrior View Post
Personally I see the H3 as a pointless POS, an avalanche with a high drag bodykit. I'd say it's a good time to buy a large vehicle with a real world purpose. But not a poseur mobile, that era may be permanently dead.
This vehicle would have a useful real world purpose for me. As a student who has to make a 6 hour drive between home and campus, I need a vehicle in which I can load up all of my belongings in one fell swoop. I would never consider owning a pickup truck, and to fit my things into the Mitsubishi this past summer required junking a lot, and having my mini fridge and deskchair put into storage at $50 per month (another $75 to have it unloaded when I return to campus next year). If I lowered the backseats in the H3, I could fit almost everything into it.

I will not be selling the Galant regardless of what vehicle I buy. If I were to purchase a larger SUV, I would likely keep both vehicles in Chapel Hill (uni) and use the Galant to make long distance trips home for breaks. The H3 would be used mostly around campus and for trips to Raleigh and Greensboro on the weekends with friends (30 min and 1 hr trips respectively).

The other car which I am interested in is the '08 Mazda3 (also 18k). I test drove one and loved it. I actually prefer the Mazda6, but its starting price tag of 21k is too much for me. I guess the biggest hang-up/concern for me is how I am going to finance. I have little/no credit at this point. My parents will have to co-sign for me, so I am not sure how that will work with a new car vs. a used car (especially if the used car is privately owned).
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Old 06-15-2008, 08:43 AM   #8
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My parents will have to co-sign for me, so I am not sure how that will work with a new car vs. a used car (especially if the used car is privately owned).
Thats what used car loans are for. But remember a newer car brings higher insurance, and most auto loans require you to carry lower deductibles and higher coverage than basic.

That sounds like a waste of money to me if you are only going to use it every now and then. You could get a grand Cherokee for much much less.
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Old 06-15-2008, 08:45 AM   #9
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Thats what used car loans are for. But remember a newer car brings higher insurance, and most auto loans require you to carry lower deductibles and higher coverage than basic.

That sounds like a waste of money to me if you are only going to use it every now and then. You could get a grand Cherokee for much much less.
I drive everyday. I just don't rack up a ton of miles.
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Old 06-15-2008, 08:53 AM   #10
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My opinion is get what you want. However keep in mind what else you can get for 20k. For example buy a 12k great fe car that is nearly new and you have 8k left over for gas. that is 2000 gallons of fuel. that will get you in a 30 mpg vehicle 60,000 miles. Like I said. Get what you want, but don't come crying to us in 3 months saying my H3 gets horrible fe ecomony and asking for suggestions on what to do. Happy car shopping!
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