Even if you already know that you want one of the new Lexus cars in our showroom, you still have another decision to make. Now, you have to choose between leasing and buying.
Many people seem to think that leasing and buying a vehicle are similar transactions, but they’re not. While both lead to motorists leaving our location in a new Lexus automobile, that’s pretty much where the similarities end. When you purchase a car, you’re buying a capital asset you get to keep for however long you want. When you lease a vehicle, you’re basically renting the automobile for a period of time, such as two or three years.
While you can treat a car you own anyway you want to and drive as much as you want, you don’t have this kind of freedom when your lease a vehicle. As a lessee, you may only drive your leased car a certain number of miles each year and you must maintain your automobile in good condition. If you drive too much or your vehicle suffers excessive wear and tear, you’ll have to pay a penalty at the end of your lease.
Leasing features many key benefits. Because leases only last a few years, you’ll have the option of getting a new vehicle every couple years. In general, lessees have smaller down payments and monthly payments compared to people who buy a car. This makes leasing a smart way to go if you don’t want to put too much down and you don’t want to worry about a hefty monthly loan payment.
To learn more about leasing, we encourage you to visit our Lexus dealership near Amelia Island, FL. Whether you lease or buy a new Lexus car, we look forward to seeing you behind the wheel of a new Lexus car at Lexus of Jacksonville soon.
