When considering whether to buy or lease a new Lexus, a brand you enjoy and are devoted to, the better choice may be leasing the vehicle. Here are several reasons why.
You Spend Less
When you lease a vehicle, you don't have to worry about a large down payment on your Lexus because you aren't outright buying the car. If you have stellar credit, you don't even need to worry about a down payment at all, depending on where you lease your vehicle from.
Furthermore, lease payments on a car are often cheaper than purchase payments because you don't have to worry about state taxes and other fees. If your budget is not large and you don't have money set aside for a large down payment on a car, consider leasing your Lexus instead of buying it.
You Get Access to New Models
Since a lease agreement on a car often includes replacing the model you are driving with a newer one when they become available, this means you nearly always have access to the newest Lexus models on the market.
You may want to stick with your current leased model for a year or so before upgrading. Talk to your Lexus dealer about how long you need to remain in a lease to be eligible for an upgrade so you always have the newest and sharpest-looking vehicle at your disposal.
You Decide Your Lease Agreement
Unlike buying a vehicle outright, when you lease your new Lexus, you have the opportunity to decide how long your lease will be. Don't plan on driving the same car for many years? Choose a lower lease agreement. Want cheaper payments and a reliable vehicle without changing models? Stick to a longer lease agreement.
Keep in mind that there is a minimum length of time that you must lease a car in order to benefit from a leasing program. Other than the minimum requirements, you are often free to decide just how long you want to make payments towards your Lexus.
If you aren't ready to commit to full vehicle ownership and have decent credit, then leasing your Lexus over buying it is a great idea. Speak to your Lexus dealer about leasing their cars versus buying a vehicle to see which option works best for you. When you lease a car you will still have to pay for insurance and registration, so keep these fees in mind when considering lease payments.