If you are thinking about hopping behind the wheel of a new Lexus there are typically two reasons why a person would consider leasing over purchasing the vehicle through financing. The first, as one might expect, is the reduced price, while the second has everything to do with regularly cycling your vehicle to the newer model. No matter your reasons, leasing makes a lot of sense for a lot of people and families, and the somewhat negative stigma that is sometimes associated with it is largely unearned.
Here are a few of the best reasons to choose the Lease Advantage:
- Lower payments
- Cash flow advantage
- Ability to defer taxes
- GAP protection
- You get more vehicle for your money
- Loyalty program eligibility
- Shorter terms = more flexibility
- Get into a new vehicle more often
- Only pay for what you use
- 3 great options with guaranteed purchase price
The monthly payments on a vehicle that is leased as opposed to a vehicle that is bought through financing will be substantially less month over month, and there a few reasons for that. The first is that all that is typically needed from the leaser is a security deposit and the first payment in advance. So, right away, the commitment is less right out of the gate. The second reason why it tends to be cheaper is that a lease payment is calculated as a difference between the vehicle’s original value and the expected value at the end of the lease. Of course, there are other smaller factors, but it all adds up to a substantially lower monthly payment.
The financial flexibility of the payment plan also really seals it for some people. A lease payment scheme tends to allow for more flexibility. Examples include additional down payments being added, providing additional security deposits which contribute to a lower monthly rate and an eligibility for some tax considerations as well.
The second largest reason why a person might consider a lease over the more traditional financing is vehicle cycling. Every two to five years when your lease is up you are open to exchange your fine Lexus for a newer model. This means that when your lease is up, you can upgrade to a model with all the latest and best features. This is a privilege that is exclusive to leasing, and one that would see you with the newest in technology every two to five years. It is certainly alluring.
When it comes time to think about leasing a Lexus we encourage you to come in and talk with one of our finance experts at Ens Lexus. If you have any questions, concerns, or just want someone to talk the finer points of your future plans out with, we are the dealership for you. Give us a call, come and see us, or book an appointment online with our finance department today!