Leasing a car is often, but not always, the best option. There are a few circumstances where it is far better to buy a vehicle outright. Here are the main reasons why you might prefer to buy a Lexus vehicle rather than pursue a Lexus lease.
The Lease Isn’t an Ideal Length
The primary reason why you might prefer ownership over leasing is how leases are structured. They come with limits to how long and much you use your new car. First is the term length. Leases set hard dates when they end. If you aren’t sure how long you want to keep your new vehicle, a lease might not be suitable.
You Drive More Than a Lease Would Allow
The second term to consider is mileage. All leases are structured so that you can only drive the vehicle for a certain number of miles before penalties kick in. You will face additional costs if your driving exceeds that allowance during the lease term.
You’re Watching Insurance Costs
When you own a vehicle, you have some flexibility in how it’s insured as long as you carry the legal minimums for liability. However, you may pay more for a leased model because the leaseholder often requires collision coverage and GAP insurance, adding additional cost to your balance sheet.
Leasing and Financing Answers from Keyes Lexus
Whatever your needs and whatever you want out of your next Lexus vehicle, our financial experts can help you find the perfect option. Whether you are still considering a lease or want to put a down payment on a new Lexus vehicle right now, the best next step is to come down to our Lexus dealership near Glendale, CA. We look forward to helping you!
