The Most Common Misconceptions About Lexus Leases

There are two primary ways to purchase a vehicle: through an auto loan or by signing a Lexus lease. While auto loans have many benefits that make them a great choice, leasing is often a better option for those who plan to frequently switch their car or are on a tight budget. To help you make an informed decision, here's a list of busted myths about leases. Visit Keyes Lexus to learn more today.

Financing Is Always Better

Some customers prefer to finance a new Lexus vehicle, allowing them to own it completely once the contract ends. However, if you aren't sure you want to drive the same car for more than five years, leasing can be a much better option. Leasing allows you to drive multiple vehicles over a short period without incurring additional costs.

You Can't End a Lease Early

Despite common belief, you aren't trapped inside a lease once you sign on the dotted line. Leases often include built-in buyout clauses that allow you to pay the difference and own your vehicle outright. You can also choose to pay an early termination fee, which will enable you to lease a new car instead, or simply walk away.

Leases Have Non-Negotiable Terms

While it's true that most leases last between one and three years, you can always work with our experts to find terms that best suit your needs. This includes the annual mileage allowance, the money factor, and the down payment.

You'll Be Charged for Any Damages

You may be liable for significant wear-and-tear penalties if you are involved in a collision with your leased car or if it otherwise suffers substantial damage. However, much normal wear and tear is factored into the leasing contract, helping most drivers avoid additional fees.

You Need a Large Down Payment

It's true that putting more money down initially allows you to pay less each month, just as you would with financing, but this isn't required. Our financial experts can work with you to find a contract that meets your financial needs and doesn't exceed your budget.

Visit Us in Los Angeles, CA, To Find Your Next Lexus Vehicle Today

If you want to learn more about the leasing process, contact our Los Angeles, CA, Lexus dealership. Once you're here, be sure to browse our current new Lexus offers to find a car that fits your needs. Give us a call to get started today!