Living in NYC and never needed a car. Now (like many others) looking at getting something while this covid thing plays out. With 2 young kids, wife prefers an SUV over a sedan. Also want to find something under 181" so can avoid the oversize parking fees in Manhattan garages. So as exmample was looking at Mazda CX-5, Nissan Rogue Sport, Kia Sportage, Honda HR-V and CR-V, BMW X1, Hyundai Tucson, etc.
So far I have looked at (1) leasing a car for 24 month term, (2) buying a used car and keeping for 1-2 years then trying to sell it, (3) a lease transfer, (4) renting a car at monthly rate, and (5) renting a car when needed.
I don’t really want to commit for a 24 month lease term. I was looking at a used 2017/2018 Honda CR-V with low mileage, as an example to buy. But used car prices are way up right now.
I have also found a leasfer transfer for a BMW X1, with 10 months remaining, with cash incentive to make my price $3k for 9 months (by time transfer goes through) (and 13000 miles, which is plenty).
Don’t care too much about what car, and ultimately just looking for most cost effective solution. Renting a car in nyc is easily $100+ a day (I currently have a non-owned auto insurance policy for just that purpose). Renting when needed also saves the $300-$400/month parking fee and $150-$200/month insurance.
Any tips or advice? If this is wrong forum, I apoligize in advance and can move it.
You won’t find a favorable term shorter than 24 months on a new lease, but you could lease something now and transfer it (assuming you choose a transferrable brand) when you are done with it.
Used car and swap inventory changes daily, is what it is.
Lease Transfer/ Swap probably your best bet. May not get exactly 12 months, but should be able to get close. big thing will be mileage left on the lease. Like you said if 13000 miles is plenty then you should definitely be able to find something.
Honestly though. The real estate market is insane here in Ocean and Monmouth counties. 15 offers and a bidding war on my neighbors house is just bananas. We were one of 8 offers on a beach house still wrecked from Sandy and immediately dropped it once we heard that
I just built 2 homes for clients in Brick. One home in this market will sell for 2mil on bay. One will sell for 2.4mil on metedeconk. Parents are buying a townhouse up north and have to put initial offers in on first day over asking price to stand a chance. all cash. Its wild!!!
If you need a home built message me. Probably best in this market. Buy land and while the market returns to normal your designing the house. No body wants property right now they want turn key
Look at the transfer section here on the forum and also try swapalease. Like they said above anything less than a 24 month lease would not be advisable on a new lease.
What do people do with the vehicle (BMW) when the Stage 3 lease transfer is complete but you don’t get the documents for 2 days later. Who keeps the car? Technically once Stage 3 is complete I am now financially and legally responsible for the car. But until I get the documents 2 days later and then go try to register it with the DMV to get plates, I can’t drive the car, yes?
Currently, the car is registered in NJ and I am going to registered it in NY. NY DMV may take up to a week to get plates. So do I let the car sit in their driveway for a week? I don’t know these people and I doubt they want my car in their driveway. Can I drive it to my house with their plates and then send their plates back to them? What do people do?
Wondering the same. Is NYC DMV open? Does the old owner (In NJ) have to surrender their plates BEFORE I get my new ones in NY? What do you do in the interim?
No answer but New York DMV is open but there may be a lag time to get an appointment and it is only open for certain transcations, for example regular driver’s license renewals must be online. There are service companies that deal with DMV throughout metro New York. In normal times they will go to DMV and register your car, no idea how it works but I have seen signs on storefronts in the past
Find a garage that will let you park it without plates until you get them. Your probably going to have to ask them to deliver it to NY and then take off their plates.
If I’m selling/ transferring you a car once I’m paid/ signed off on the paperwork it’s no longer my problem I’m not holding it at my house and i am certainly not letting you hold on to my plates. Get a game plan ahead of time so your not scrambling last minute.
