If you’re on the search for a Lexus lease or a Lexus for sale, look no further than Keyes Lexus. Our expert team will find you the perfect luxury performance vehicle at the ideal price, and we’ll help you to decide between leasing and purchasing today.
Avoiding Lease Penalties
There are many benefits to leasing a vehicle, like significant savings and access to the latest models on the market. But you want to ensure you follow lease best practices so there are no surprise charges or costs when the lease ends. Here are some things best avoided during the leasing process.
1. Not Considering Term Length
Most leases last two to five years, but you want to consider the length of your term before signing on the dotted line. Early termination costs can add up, so it’s better to take out a short lease and extend it than get stuck.
2. Going Over Mileage
Leases have mileage limits, typically between 12,000 to 15,000 miles per year. If you notice you’re getting close to the mileage limit, it’s better to extend your mileage than incur the per-mile cost of exceeding it.
3. Not Purchasing GAP Insurance
GAP insurance helps to cover the difference between the vehicle’s depreciated value (which insurance covers) and what you still owe (which it won’t) in the event of an accident or theft. GAP insurance is often required for leased vehicles and will save you from paying out of pocket.
4. Driving Against Terms
Most leased vehicles can only be driven in specific conditions and environments, meaning locations where there are roads. You may pay high repair costs if you take your vehicle off-road or operate in extreme conditions.
There’s much to know about the leasing process, and Keyes Lexus is here to help. Learn more about leasing dos and don’ts, and take home the best new Lexus model from our dealership today.