How much will it cost in total?

[Uniqueuponhim]

I'm looking at potentially leasing a Smart Car. Between the lease, gas, insurance, and maintenance, I'm wondering about how much it will cost me in total.

To begin with, I live in Canada, so I know the cars are significantly more expensive here, though I believe there is also a $2000 rebate (I'm not sure if that applies to leases though - does it?). I'm not looking for any fancy options, except maybe a moonroof. I don't need AC or anything else like that though.

I'm still a student, and my credit rating isn't that great. I don't know if it's possible to get someone to cosign on a lease, but I know my parents would be willing to if my credit rating isn't good enough, or if it could get me a better interest rate.

I'm 22 and I've been driving since 16 with a perfect driving record. I was rear-ended once, but it was pretty clear cut that it was 100% the other guy's fault. I also completed a Young Drivers of Canada course when I was 16. So, my insurance is probably still fairly high since I'm a male and not 25 yet, but hopefully it'll be lowered a bit by the driving course and perfect record.

I don't plan on putting a whole lot of miles on the car. The round trip to school every day is about 20km, which adds up to 4000km in a year, plus say another 1000km, which adds up to 5000km per year. In the city, I might get 7L/100km, so that's about 30L per month, or around $40.

So I have a good idea of what gas would cost me, but since I've never bought or leased a car before, I have no idea how much the lease itself or insurance would be. Can anyone shed any light on those for me so I can at least make a rough estimate? Thanks.

[JPaul]

Uniqueuponhim, since your question pertains specifically to a Canadian proposition, I'm moving your post in the appropriate sub-forum where it'll get more exposure to those who have experience "North of the border". Hope that way you'll get a better and prompter answer.

[Karl Roth]

Originally Posted by Uniqueuponhim

I'm looking at potentially leasing a Smart Car. Between the lease, gas, insurance, and maintenance, I'm wondering about how much it will cost me in total.

To begin with, I live in Canada, so I know the cars are significantly more expensive here, though I believe there is also a $2000 rebate (I'm not sure if that applies to leases though - does it?). I'm not looking for any fancy options, except maybe a moonroof. I don't need AC or anything else like that though.

I'm still a student, and my credit rating isn't that great. I don't know if it's possible to get someone to cosign on a lease, but I know my parents would be willing to if my credit rating isn't good enough, or if it could get me a better interest rate.

I'm 22 and I've been driving since 16 with a perfect driving record. I was rear-ended once, but it was pretty clear cut that it was 100% the other guy's fault. I also completed a Young Drivers of Canada course when I was 16. So, my insurance is probably still fairly high since I'm a male and not 25 yet, but hopefully it'll be lowered a bit by the driving course and perfect record.

I don't plan on putting a whole lot of miles on the car. The round trip to school every day is about 20km, which adds up to 4000km in a year, plus say another 1000km, which adds up to 5000km per year. In the city, I might get 7L/100km, so that's about 30L per month, or around $40.

So I have a good idea of what gas would cost me, but since I've never bought or leased a car before, I have no idea how much the lease itself or insurance would be. Can anyone shed any light on those for me so I can at least make a rough estimate? Thanks.

Do they lease them in Canada?
karl

[Mike T]

The rebate is on 2008 models only, which are purchased or have leases of a certain duration - go to the gov't website to get the particulars. You can probably "build a smart" at the smart Canada website and price a lease as well.

M-B lease rates are lousy. I would avoid a lease entirely, on any car in Canada, unless you can write off the interest payments as a business deduction (i.e. you are incorporated).

Service @ M-B is expensive, but the gasoline version should be serviced every 15K km instead of 8-10K km for the older diesels.

In summary, buying a smart is an act of passion. Lowball cost people should stay out of smart showrooms.