Sr. Citizen Questions Re Leased Cars

Hello,

Very Sr. Citizen now, so please bear with me a bit, even though not a
true technical car question.
Great Forum, and you folks have helped me out a lot in the past.

My guess is that I can drive safely for probably another year or so.

Need a new car.

With a year left for driving, probably silly to buy a new one.

Thinking of a leased car. Don't want a used one.

I have never had one, and know nothing about them.
Would like to learn something about doing so before pursuing further at
the Dealerships.

Do they lease cars for only 1 year ?

Does some kind of Rental, instead, make make sense ?

I guess I would still have to carry Collision insurance for
any Rental ? True ? Same rates as for my personal car, probably ?

What should I be asking, or negotiating, if I go this route ?

What are the caveats, pitfalls, etc. of Leasing, etc. ?

Any thoughts on this, or opinions, would be most appreciated.

Thanks,
Bob




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On 12/7/2013 6:53 AM, Bob wrote:
> Hello,
>
> Very Sr. Citizen now, so please bear with me a bit, even
> though not a true technical car question.
> Great Forum, and you folks have helped me out a lot in the
> past.
>
> My guess is that I can drive safely for probably another
> year or so.
>
> Need a new car.
>
> With a year left for driving, probably silly to buy a new one.
>
> Thinking of a leased car. Don't want a used one.
>
> I have never had one, and know nothing about them.
> Would like to learn something about doing so before pursuing
> further at the Dealerships.
>
> Do they lease cars for only 1 year ?
>
> Does some kind of Rental, instead, make make sense ?
>
> I guess I would still have to carry Collision insurance for
> any Rental ? True ? Same rates as for my personal car,
> probably ?
>
> What should I be asking, or negotiating, if I go this route ?
>
> What are the caveats, pitfalls, etc. of Leasing, etc. ?
>
> Any thoughts on this, or opinions, would be most appreciated.
>
> Thanks,
> Bob
>
>
>
>
> ---
> This email is free from viruses and malware because avast!
> Antivirus protection is active.
> http://www.avast.com
>

Move to a country where these are street legal and just buy one:
http://www.pagani.com/it/default.aspx

The best answer is always Italian.

--
Andrew Muzi
<www.yellowjersey.org/>
Open every day since 1 April, 1971

In article >, Bob > wrote:
>My guess is that I can drive safely for probably another year or so.
>Need a new car.
>With a year left for driving, probably silly to buy a new one.
>Thinking of a leased car. Don't want a used one.

I've never leased a car, because in my case it would not be cost-effective.

So, I asked my uncle. My uncle works in a business where he has to look
like he's making a lot of money in order to attract clients. But he does
not actually make all that much money. So he always gets a new Mercedes
every year, but he gets it on a one-year lease.

He says the one-year lease is a good thing, although it can cost more than
a longer-term lease. But, if you want to extend the lease beyond a year
they'll let you do that. He says the main gotcha is that the leases have
a maximum mileage on them; if you drive more than 15,000 miles a year you
can get very high fees for additional mileage. You can add miles to the
contract up front for a lower rate but then if you add them and you don't
use them, you've lost that money.

He says also to watch out for the insurance costs, that you insure the
car just like if you'd owned the car, except that the leasing company will
probably force you to get the highest tier comprehensive insurance possible.

>What should I be asking, or negotiating, if I go this route ?

You should go to the BMW dealer and ask about a one-year lease on a 7-series
BMW. It's a big car, but it's a big car that drives like a much smaller
car. It's a horrible maintenance nightmare, but you don't care, you'll be
leasing it and won't have to pay when it breaks. And if you're only going
to be driving for another year, you might as well just spend all your money
and do it in something that is fun to drive.
--scott

--
"C'est un Nagra. C'est suisse, et tres, tres precis."