BUY VS. LEASE A LEXUS
If you are in the market for a new luxury car and looking to either purchase or lease a Lexus in Southern California, choose Newport Lexus. We’re here to help make the purchase or lease decision as easy as possible. Everyone’s circumstances and auto needs are unique which is why the product specialists at Newport Lexus are expertly adept in working with our guests to ensure they get superior service when discussing their ownership or lease options. We’ve also provided a quick guide below, highlighting some of the benefits of the two options. Don’t hesitate to contact us today at (949) 482-6122 with any questions or for more information about our purchase and lease programs. As the premier destination for ownership of a new Lexus or a Lexus lease in Southern California, we hope to see you soon at our luxury dealership in Newport Beach.
BENEFITS OF LEASING
- Add your content…Guaranteed Future Resale Value – In most cases, your vehicle will retain it’s resale value at the end of the lease terms.
- Lower Initial Investment – On average, your first monthly payment, DMV and other start up fees will be lower than when purchasing a new Lexus.
- More Car For Your Money – Leasing allows you to drive a vehicle with more features for less money per month or compared to a typical installment loan on the same vehicle.
- Payment Options – Most leases, are like finance contracts, you pay for a designated period of time. 24-36 month terms are the most popular at this time. You also have the option to make a single payment, called a 1-pay lease. In this instance you make a single payment for the designated period of time, similar to a cash deal. The difference being, it is still a lease and at the end of the term, you turn in the Lexus, just as if you made your final payment and get into a new lease or if you have the option to decide which is the best course of action.
- Taxes – Only pay tax on a monthly payment for the term of the lease, not the whole total of the vehicle upfront.
- Tax Advantages – There are tax advantages when you lease a new Lexus. Just as we are all unique individuals, everyone has their own unique tax or business situation. You will need to speak with your personal financial, tax adviser or accountant to see which is the best course of action for you.
- Mileage – Pick your mileage, anywhere from 7,500 to 30,000 miles per year, based on your driving habits.
- Warranty – Lease terms in today’s market are between 24 to 48 months. A new Lexus has a 48 Month or 50,000 Basic Warranty and 72 month or 70,000 Powertrain Warranty. In most cases you will never be out of the warranty period.
- Maintenance – Most Lexus vehicle maintenance is scheduled at 5,000 mile intervals and the first two are complimentary which leaves you with a minimum expense for the next services if you choose the more popular short term options.
- No Long Term Contracts – With the price of new vehicles rising on an annual basis, most buyers are forced to use extended term financing to get a payment that will fit into their budgets. 60, 66, 72 and 75 month contracts are not uncommon today. Leasing allows you an affordable payment and at a significantly shorter term.
- Options – At the end of the lease term, you can then decide to buy this particular Lexus vehicle and keep for a while. You have the option to trade in your Lexus (if you have equity). You have the option to return your Lexus to Lexus Financial and walk away as long as you have normal wear and tear. You are not stuck with vehicle that may not fit your needs any longer. You can then at that time, get a new Lexus that will suit your personal or business needs.
- Insurance Payments – There are no excess insurance requirements with a Lexus lease.
BENEFITS OF PURCHASING
- Lexus Ownership – At the completion of your financing contract, you own the vehicle free and clear. You do not have to make any further monthly car payments for the rest of the life of the vehicle.
- Early Termination – You can sell or trade in your Lexus at any time. There are no early termination fees.
- End of Term – At the end of your loan term, you have built up equity to use for your next Lexus purchase.
- Mileage – There are no mileage restrictions. Drive the car as often as you like.
- Accessories and Customization – You are free to upgrade, accessorize and customize your Lexus vehicle to your personal taste.