A car lease is an easy way to get behind the wheel of a new Lexus car for lower monthly payments than it takes to buy one outright. What’s not to like? While there are plenty of benefits to taking out a Lexus lease, let’s explore a few reasons why leasing isn’t always the right decision.
You Prefer Having a Paid-Off Car
Most lease contracts are around two to three years long. Because leasing can be seen as similar to taking out a long-term car rental, you’ll need to search for another car when your lease contract expires eventually. You’ll always have a car payment on your mind, which isn’t the case with an auto loan that ultimately gets paid off completely.
You Drive Over 15,000 Miles Per Year
The vast majority of car leases come with mileage limits that range from 12,000 miles to 15,000 miles per year. You’ll be charged extra mileage fees if you exceed these mileage limits. Thus, leasing may not be a great idea if you’re a driver who regularly exceeds these yearly mileages.
You Have Bad Credit
If you have less than perfect credit, leasing may not be your best option. While the finance professionals at our Lexus dealership in Valencia, CA do our best to provide auto loans to people with various credit situations, many leasing companies have high credit score requirements, making it hard for those with low credit scores to secure a lease.
Whether leasing or buying is your preferred method of getting behind the wheel of a new Lexus car, we can help you here at Lexus of Valencia. Stop by our dealership today to test drive the latest Lexus models.