Re: [OT] we need a new car - Follow uP

[Kevin Collins <kcollins1@socal.rr.com>]

Neal Tovsen wrote:

> If there is a chance that you will go over your mileage, DO NOT go for a
> lease. If you go over, you will be left with two options. Either pay the
> "over-mileage" fees, which are usually obscene, or YOU get to be the one
> that buys the car after two years, meaning you take out a loan and buy the
> car for whatever the pre-arranged amount was. 

Not true, there's a 3rd option - trading the car in, at which point the
over-mileage becomes a non-factor, other than in its role in determining
the trade-in value of the car.  For instance, I have a Passat on a 36-month,
36k-mile lease.  I'll put 14-15k per year on it, and will probably bail
at the 2 year mark.  The lease terms were so favorable that I'll be rightside-
up in the thing by the end of the end of the second year - so I'll be able
to trade it in and come out even or even slightly ahead.  There will be
no excess mileage charge, though if I had racked up some ungodly number
of miles, it would obviously affect the car's value downwards.

If you think/know that you'll be in the market for another new car as the
lease term is ending, then you're in pretty good shape as long as you're
in the general ballpark for mileage, particularly if you're going to be
trading towards the same make again (or towards and Audi with a VW, etc.).


--
Kevin Collins
Huntington Beach, CA
'86.5 16V 2.0
'00 Passat GLS 1.8T

--
Email LIST problems to: scirocco-l-probs@scirocco.org.
To unsubscibe send "unsubscribe scirocco-l" in the message to majordomo@scirocco.org