Luxury vehicle shoppers in Valencia, CA, seeking the latest Lexus technology and luxury often choose to lease a new Lexus model. Many drivers here at Lexus of Valencia fall in love with their vehicle and wonder about a Lexus lease-to-own program. While Lexus Financial Services does not directly offer a formal “lease-to-own” program, every lease agreement includes a powerful feature that provides a similar outcome. Here at Lexus of Valencia, our finance team explains.
The Lease-End Purchase Option
Every standard Lexus lease comes with a lease-end purchase option. While this isn’t a rent-to-own plan where your lease payments accumulate equity, it is a contractual option that gives you the right but not the obligation to buy your vehicle at the end of the lease term. This provides lessees with a clear and straightforward path to ownership if they desire it.
The Buyout Price Is Set
One of the keys to the lease-end purchase process is the residual value, which is established when you first sign your Lexus lease. This number is the predicted value of your Lexus vehicle at the end of your lease term, and it’s written directly into your contract. The residual value turns into the fixed purchase price. There are no negotiations involved; you know the exact cost to purchase your vehicle on day one.
Flexibility From the Beginning
As your lease term comes to an end, you can decide if purchasing the vehicle you already love for that set price is the right move for you. If it is, you can either pay for it outright or apply for financing. If not, there are additional Lexus models to be leased, and you can return your current leased model.
Lease a Lexus Car in Valencia, CA
Here at Lexus of Valencia, we offer a variety of Lexus SUVs, sedans, and coupes for lease. To learn more about how a Lexus lease can work for you, speak with the finance experts at Lexus of Valencia today!