Own a rental company here in SoCal. We have full contracts made for renters at 29 day periods with the option to extend every month. We have commercial coverage for the most part but verify that your insurance covers rentals in the chance that something happens to the vehicles. if done out of turo (much cheaper option) we collect a $500 deposit as well.
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Care by volvo is a month to month program with 1500 miles a month that you can cancel after 5 months
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Thanks I will look into this.
Thanks everyone on the suggestion. I checked on all the options suggested- sixt, care by volvo, turo etc. I did the math and out of all the available options in Seattle - A decent SUV will cost around 700-800/month (excluding tax). I need a SUV trunk as my dog needs a crate whenever we travel by car. This means that if I stay for another 6 months, I will burn around 4-5k + ~600 disposition fee( current lease return).
If I just buy out the current lease (~31k) and sell it when I leave after 6 months (or more), I donât think I am gonna be loosing more than 5k. At least, I retain a good car which I am used to. Does this make sense or I am missing something here?
Used car values are dropping everyday at wholesale auctions. You might be looking at a bigger depreciation than you are estimating.
If you plan to keep the car to sell it, I would start lining up a buyer at least a month in advanced. If you plan to keep the car and sell it t a dealership, I would start getting offers at least 3 weeks out b/c as @Bargainer mentioned, you are probably going to lose more than you think youâll lose.
The upside is that you get to continue driving the car you like and are used to.
Another option would be to turn in your current lease and buy something locally that costs 10-15k and is in decent condition that will get you from point a to b for the next 6 months. That car wonât depreciate as much and you can sell that to a local dealer without losing a whole lot more.
Yeah, this is a valid option but I think a lot more work finding the right car and then finding the right buyer
Well, the beater you could sell to a dealer and you wouldnât lose as much as you would on a new car or possibly the one you have now.
Yeah, thats a fair point. But given the prices long term rentals are charging, I am leaning towards taking the chance.
Have you talked to the dealer to see if they can buy the car after you ground it and what your options there would be?
I have not talked to the dealer yet. I just want to be super clear on what I exactly want from the dealer before approaching them, else they would just try to make as much money as they can out of this situation. I can check with the manager there, I have his email from the days I took the lease.
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