Lexus Lease FAQ

Using a Lexus lease to get a brand-new car from your local Lexus dealership has some similarities to a car loan and some unique upsides. But whether leasing is the best choice for you depends on your needs and situation. This FAQ will provide background and some questions to ask yourself about leasing to determine if leasing is the best option for you.

Q: What is leasing a car?

A: The most fundamental difference between leasing and buying from a Lexus dealer is that leasing doesn't give you ownership of the car. It's like renting an apartment versus buying a house.

When buying, each monthly payment gradually builds equity in the vehicle. When leasing, each payment reserves you the right to drive the car for that month.

Q: Is it less expensive to lease than buy?

A: It's generally less expensive to lease a Lexus RX 350 than to buy one. However, it's essential to realize that a lease is harder to acquire for those with low or no credit.

Q: Are there downsides to leasing a car?

A: Leases are temporary, so you'll need another one when the current one runs its course. Of course, this may not matter to you if you enjoy always having the latest and best new Lexus models we have to offer.

Leases also come with mileage and wear penalties, making them impractical when you have a longer commute or if you tend to be rough with your vehicle. What's more, unlike buying a car, leasing doesn't build equity.

Q: Is there anything else I should consider before leasing a car?

A: Leasing works best for people who need a new car within 3 to 5 years or less from the time of purchase. If that's you, leasing means you'll have lower payments and won't need to deal with the hassle of trading in a purchased car. Many drivers appreciate that the warranty and lease terms coincide, so there are fewer worries about repairs than there'd be for a car you've owned for a long time.

Q: Where can I lease a Lexus Vehicle?

A: Leasing a Lexus can be done at your local Lexus dealership. In the Santa Clarita, CA area, you can stop by Lexus of Valencia for a wide selection of great Lexus leasing options. Our finance department is happy to answer questions and guide you through the process of leasing or buying a car.