Though some buyers may want the experience of driving a luxury vehicle, the upkeep costs and maintenance may intimidate them. Therefore, they may lease their desired vehicle instead. A Lexus for lease eliminates some of the challenges associated with owning a car, but it is not without drawbacks for some prospective lessees.
Benefits of Leasing a Car
When you lease a car, you receive the manufacturer’s latest model with the most current feature suite. This is especially important for safety features. As you continually lease new vehicles, you will enjoy the most up-to-date amenities available as they come on the market.
When compared to buying a car, you will also enjoy lower monthly payments and a lower down payment. If you want the novelty of driving a new car without the associated costs of buying a new one, you can lease a new vehicle at the end of the old one’s lease term. Switching is easy because you just need to drop off the old car at the dealership.
Car Lease Drawbacks
While attractive, car leases have some drawbacks worth bearing in mind.
- You don’t own the vehicle, so you’re in an endless cycle of lease payments.
- Your mileage is restricted during the lease term, and exceeding it can be costly.
- You will also face wear and tear penalties that can add up quickly if you have kids or pets or use the vehicle for business.
Buying a car lets you drive where and how you’d like, with fewer limitations and worries. Once the vehicle is paid off, your only expenses are fuel, insurance, and the occasional bit of maintenance or repair. If those costs become unsustainable, you simply buy a new car.
Learn Your Lexus Financing Options
Whether you lease or finance your next luxury vehicle, it’s not a decision to take lightly. To receive more information on the leasing process, contact the finance department at Lexus of Valencia.