Hey Lofty, welcome on board.
What would I want from a car chase?
Well, firstly, the location has to be exotic and unique. I'm kinda tired of the same L.A., San Francisco, New York settings (not that I dislike these cities, it's just getting kinda cliche). Good examples of foreign settings is Bourne Supremacy's Moscow car chase and Tokyo Drift's night-time pursuit. The action doesn't have to be overseas for it to be non-coventional: car parks, on top of and
through office buildings, subways and across countrysides are pretty good locations too.
Secondly, I want to have a unique set-piece. What would a car chase's special stunt be? It could be the Man With the Golden Gun's corkscrew jump, Gone in 60 Second's leap of faith, or the Blue Brother's massive pile-up. Every one of the great chases had a trademark sequence, a single scene or iconic shot which sums up the chase and immortalizes it into movie history.
Thirdly, creative use of vehicles. Exotic, muscle and of late, Asian import cars are cool and all that, but seriously in real life, what are the chances of a hero hijacking or even owning one? Truly awesome car chases use ordinary, everyday tin-boxes and push them to the limit, just look at the Bourne, Terminator and Lethal Weapon series. Pedestrian vehicles such as a Mini Cooper, fire engine, ambulance and security vans can give a pursuit as thrilling as their faster counterparts.
Lastly, a great soundtrack is a must. Yes, hearing the roaring engines and tire screeches is great and all, but a good music track certainly enhances the experience. Ronin and Terminator 3 had eerily silent soundtracks till the end, some people like that but I prefer otherwise. Good examples are Hans Zimmer 'The Chase' from The Rock, John Powell's 'Bim Bam Smash' and 'Minivan Chase' from Bourne Supremacy and Mr & Mrs Smith, and Trevor Rabin's 'BMBBO' from Bad Company. Give a listen to these tracks and you'll see what I mean.
As for Don'ts:
Don't use CGI too excessively. A little is good to enhance the scene, or if you require the cars to change into giant robots or something else. But to cop-out with a CGI shot instead of doing the real thing cheats the audience of its realism (eg Gone in 60 Seconds remake).
Don't have shakey-cams, excessive slow-mos, and MTV-style cuts. Again, a little is good for cinematography, but too much of it is bad.
Don't promise something and don't deliver it. In other words, don't set up audience expectations either through pre-release hype or even in the scene building up to the chase only to end prematurely or deliver a disappointing pursuit. Nothing sucks worse than a chase that could have been good, but isn't.
Yeah, I'll stop rambling, but basically you get an idea of what I look for in a good chase. Have fun!