buying a car vs Leaseback option

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Member since 03 March 2009

TheUncertaintyMember03 March 2009 01:06:53

Hello

My family is leaving Los Angeles for Europe in June. We will be traveling around Europe for a year, spending a month or so in a country and then moving on. We are trying to figure out whether to buy a used car when we get there, find insurance for it, and sell it when we leave a year later, or just use the leaseback option that Renault or Peugeot offer. The leaseback options only run for 6 months or so, and may be more expensive, but I don't know how hard it will be to get the car insured (being foreigners)if we buy one, and what hidden costs there are. Anybody have any advice?

travelling family Member

Member since 31 October 2009

travelling familyMember01 November 2009 00:09:04

G'day,
My family and are planning a similar trip to Europe. We are considering the same question - 2nd hand vs lease. I'm finding it difficult to find any information regarding the 'buy' option. Buying seems Ok, it is the registration and insurance that are the difficult issues. It appears you have to be a resident to do this. If you come across any info on how it can be done, please pass it on - I'll do likewise.

Regarding leasing however, if there are two people in your travelling party that are eligible to lease a vehicle. You can lease a car for 6 months, return it, then the other person leases a car for the next 6 months.

All the best

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