I wrote a post about Bellagio and the best way to get there: By ferry.
Going out is not any different: The best way to travel is by ferry.
During our week in Bellagio we did not touch our leased car one single day. We found a free parking and left the car there. Parking spaces are very limited in Bellagio and I recommend you look for a free spot and forget the car while staying there.
All sightseeings are made by foot and/or by boat. If you have a bike (as we did), forget it too. The streets are narrow, hilly (many with steps) and finally, many of them have pebbles used for paving make it bump for cycling. It’s not a place where we should carry your bikes, if you have the option of leaving them at home. In our case, we were traveling around Europe in a leased car with two bikes we bought in Nancy. So… taking or not taking the bicycles wasn’t an option! 🙂
All the small towns around the lake (Bellagio, Varenna, Leno, Menaggio, etc ) are not “bike friendly”. We stored our bikes in our hotel while we were there and “forgot” about them, the same way we forgot our car parked at a free spot.
The best way to leave Bellagio is to take the ferry boat to Cadenabbia. It is the closest ferry port (also the cheaper ticket), besides, from Cadenabbia you can drive wherever you want without stress.
Don’t leave Bellagio driving because the road is very narrow. I have read horror stories from people who drove there! Take the ferry and enjoy the ride!