You may have questions about Lexus lease details, including whether leasing is worth it over financing. It pays to know why leases are beneficial and what terms may impact your drive. The Lexus of Jacksonville team has assembled this Lexus lease FAQ to help answer your burning questions.
When Is Leasing Worth It?
Leasing is a great option for drivers who want to save money on their monthly car costs. Compared to financing, leasing generally requires lower monthly payments over similar lengths of time. That means you can reduce your annual expenses while still driving new cars. You also may want to lease if you aren’t planning to drive much during the year.
How Long Should I Lease?
This will depend on your financial situation, but most drivers should aim for a 36-month term length. That provides the best balance between the monthly payment amount and generated interest.
Do I Need Insurance for a Lexus Lease?
Yes, to comply with federal and state regulations, you must have valid car insurance to lease a vehicle.
Do I Need to Put a Down Payment?
While a down payment technically isn’t required, it’s highly recommended to put some money down when you lease. The more you pay at signing, the lower your monthly payments will be.
Can I Buy the Car After the Lease Ends?
Absolutely! When you sign a lease, you’ll be given a residual value that lets you know how much it will cost to buy the car out at the end of your lease.
Lease a New Lexus Luxury Vehicle in Jacksonville, FL
If you still have more questions about your Lexus lease, our dealership can help you. Contact Lexus of Jacksonville today to learn more about leasing or get pre-approved for a lease offer. Get behind the wheel of a new Lexus!
