Sleek, stylish and ultimately sophisticated, nothing beats a head-turning Lexus when you’re cruising down the streets. These luxury vehicles from Japan are an asset to have, but are incredibly expensive to purchase. If you’re looking forward to having a Lexus in your garage, why not try leasing it? Through a Lexus lease, you can have your very own Lexus at a very affordable price. A Lexus lease allows you to purchase your very own Lexus with a price depending on its depreciation amount.
Cars depreciate in time and with use. The car dealership bases your payment on how much your car has depreciated. Purchasing a car at its original value, most especially when its luxury, can be next to impossible for some people. A Lexus lease gives you the opportunity to own your very own luxury vehicle at a ridiculously cheap price. Leasing a vehicle becomes the perfect choice for people who want to have a car but now own it. If, for example, you’re planning to upgrade your car every few years or so, leasing becomes a very affordable option.
A Lexus lease allows you to have a car for a certain number of years. It works by calculating the cars depreciation, and charging you for that certain amount. There are two power players in the leasing process: the car dealership and the leasing agency. After selecting a car form the car dealership, the dealership sells the car to the leasing agency of your choice. Your Lexus lease payment is determined by an estimate of how much the car will depreciate at the certain period that you have it. If your Lexus is $50,000, for example, the leasing agency might estimate the cars worth to be $40,000 after having it leased to you. Your payment then, is geared towards paying the $10,000 of depreciation value while the vehicle is with you. You will be asked to pay the $10,000 through monthly installments until your Lexus lease expires.
When the Lexus lease reaches its expiration date, there are a number of things you can do. You can purchase the Lexus at a certain price, choose a new car, lease it with a brand new lease agreement, or you can just turn over the car and do nothing. Keep in mind that there can be additional charges along with your Lexus lease payment. If your vehicle exhibits scratches, dents, or other forms of damage after your lease, the cost needed to repair these will be added to your account.
A Lexus lease is the perfect, affordable option for people who want their own luxury cars. If you are looking forward to turning some heads, try leasing a vehicle.
Many people find Lexus car lease deals are a great choice for a new vehicle. It is much less costly than a genuine purchase. A good car lease deal gives the buyer a chance to try and to use a new car that they could not afford to buy. Since automobile prices continue to rise, Lexus car leases might become the only realistic way you can afford the vehicle of your choice.
You also save because the lease usually ends before major service or repairs are needed. Therefore you not only save money, you save time at the car repair shop. Also, since leased cars are usually still carrying the warranty from the manufacturer, you are protected from major costs for repairs or recalls.
What Does Leasing a Car in Involve?
There are several things you ought to know if you are considering taking out a lease on an automobile.
Your Payments Reflect the Car’s Value.
Your monthly payment for your Lexus car lease will depend on the overall cost of the car. If you really need to save money select a less expensive vehicle.
Higher Residual Percent Saves You Money.
Every car that is leased is assigned a residual value percent. This is applied to your payments to offset the depreciation of the car. To get a lower amount for your monthly fee, choose the highest residual percentage that is available.
Understand Your Set Miles.
Every leased car is allowed a specific number of miles for each month you drive it. Be certain you know how many miles your lease allows per month. There is a fee for each extra mile that is more than your limit. Find out what that charge is for each mile you drive that is more than your allotment. Understand your limits and monitor your mileage to stay within the limit.
Expect a Disposition Fee.
A leased car costs only a little more than renting it for a month. However, you will need to pay a disposition fee when you return your car. Often the fee is about $300-$500 when you return the vehicle. Know what it is and expect to pay it at the end of your lease.
Understand What Money Factor Means.
Learn what your money factor means for your car lease. A lower money factor will save more of your cash. It works essentially like your ARP.
Is it Better to Lease or Buy a Car?
Think it over and look at all the details before your decide whether to rent, lease or buy a car. Be sure you understand all of the fees that accompany a Lexus car lease deal. Know what is expected in payment at the beginning and at the end of the lease. Find out what is included in your car lease before signing or paying anything. Ask questions and see the answers in writing so you can make the best choice to meet your needs.
You Won’t Own the Car
Remember when you lease a car it belongs to the leasing company, you are paying to use their car. When you buy a car, it is yours, even though the payments for it will continue for a while. You are not limited by mileage allotments when you own your car. However, a car lease means you cannot sell it. You get the benefit of a lower payment for a Lexus car lease deal and they handle routine servicing, but it is not your car.
Leasing Cuts Down Up-Front Costs
Usually buying a car will require financing with a down payment or a trade in of another vehicle. By choosing a Lexus car lease you are not financing the car. You will need to make a down payment that covers a security deposit, the payment for the first month, an acquisition fee and taxes. This is likely to be less cost at the outset than purchasing a car. Though, if you want to make lower monthly payments, you are often allowed to pay more money at the beginning.
No Need to Worry About Selling Car Leases
It is not your responsibility to sell the car. Do not worry about resale values or how you will find a buyer. Keep it serviced per the lease agreement but forget about worrying. It is not your car. It is a leased car.
When you buy a car, it is yours when you make your final payment on the finance plan. That is when you get your “title” and consider it yours. A Lexus car lease is different. You may have the option to buy the vehicle when you have completed the lease. However, it is not automatically yours. You must return the car to the leasing company when its terms are completed.