When deciding on a Lexus lease, there is an alternative type of lease you might want to consider. A 1Pay lease differs from a regular lease for one simple reason; as the name suggests, you pay once and are done under most circumstances. Since there’s a bit more to it, let’s cover the basics before your Lexus of Valencia visit.
It Really is One Payment
The payment is the most apparent difference between a 1Pay lease and other leases. There’s no monthly payment, and therefore no interest stacking up throughout the lease. This can make it the easiest to plan for.
It’s Often Less Expensive Than the Alternatives
As you can imagine, you will save over the lease term since you are paying up front and avoiding all that interest. This is also less expensive than paying cash for a vehicle since it is still a lease and lets you return it at the end of the lease term.
Approval is Easier
Since you aren’t dealing with monthly payments and all the interest they involve, it is easier to get approval. This is especially helpful if you have any problems with your credit history.
It’s Similar to Other Leases
A 1Pay Lease is very similar to other types outside of price and payments.
- You still have flexible lease terms
- You can still purchase your vehicle at the lease end
- The purchase price is still locked in at lease inception
- The same time and mileage benefits apply
- The same penalties also apply for mileage and wear-and-tear overages
Consider a 1Pay Lease from Lexus of Valencia
Whether you are ready to decide or still on the fence, the best next step is to come down to our Lexus dealership near Santa Clarita, CA, and talk with our finance center staff. The Lexus of Valencia team looks forward to helping you with whatever lease option you decide on!
