Buying vs Leasing
BUYING VS. LEASING AT LEXUS OF AKRON-CANTON
WHEN COMPARING BUYING OR LEASING A VEHICLE, SOMETIMES IT CAN SEEM DIFFICULT TO DECIDE WHICH OPTION WORKS BEST FOR YOUR SITUATION. FORTUNATELY, OUR TEAM OF FINANCIAL EXPERTS AT LEXUS OF AKRON-CANTON HAVE A VARIETY OF PROGRAMS WHICH CAN HELP MAKE YOUR DREAM OF OWNING A NEW LEXUS A REALITY.
SINCE THERE ARE BENEFITS TO BOTH BUYING AND LEASING A VEHICLE, OUR FINANCE EXPERTS CAN TAILOR A LEASE OR FINANCE SOLUTION TO BEST SUIT YOUR LIFESTYLE AND DRIVING HABITS. IF YOU'RE CURIOUS WHICH OF THESE TWO OPTIONS WORKS BEST FOR YOU, LEXUS OF AKRON-CANTON HAS ASSEMBLED THIS HELPFUL COMPARISON TO HELP MAKE YOUR DECISION EASIER.
BENEFITS OF BUYING A LEXUS
EXCELLENT FINANCE RATES
We have access to the most competitive financing rates (with qualifying credit) to help you get behind the wheel of a new Lexus. We work closely with top lenders to help maximize your savings.
AFFORDABLE PAYMENTS
In addition to low interest rates, we have loans with term lengths up to 72 months – giving you even more flexibility to get the Lexus vehicle of your dreams. Our PERSONALIZE MY PAYMENT is another great way to help you determine exactly which financing option suits your needs and budget.
FLEXIBILITY
By purchasing your Lexus, you'll enjoy the freedom to drive as many miles as you'd like without worry from mileage overage charges and fees. Also since you're the owner of your Lexus, you are free to customize or modify your vehicle with aftermarket parts and accessories to suit your personality.
OWNERSHIP EQUITY
Another benefit is that once you've finished paying off your vehicle, it's 100% yours. Better still, you can use this equity as leverage for a down payment on your next vehicle.
BENEFITS OF LEASING A LEXUS
NO EFFECT ON TRADE-IN
A great benefit of leasing is that you won't have to worry about the vehicle's value once your lease ends. Once your lease concludes, simply return your vehicle and choose a new Lexus. There's no need to stress about what the vehicle is worth.
AFFORDABLE MONTHLY LEASE PAYMENTS
Since you're driving your vehicle for a set time period and with a fixed mileage amount, your monthly payments may be significantly lower. Your new Lexus may last for 10 years, but your payments are only based on the term length that you will be using it - helping to maximize your savings! Ask about our Low Mileage Leases, 1-PAY LEASES and Multiple Security Deposit Programs which can help stretch your savings even further.
FLEXIBILITY
Should your wants or needs change, leasing a Lexus gives you the ability to choose a different model every few years depending on the duration of your lease. Lexus of Akron-Canton makes it easy to get behind the wheel of a new Lexus vehicle with competitive lease programs.
LOW COST REPAIRS
In general, leased vehicles are typically covered during the entire duration of the lease term. You can drive with confidence from knowing that if anything goes wrong, you're covered! Adding Excess Wear & Use Protection for the duration of your lease gives you additional peace of mind when it comes to unexpected maintenance needs.
FREQUENTLY ASKED QUESTIONS
WHEN IS THE BEST TIME TO LEASE A VEHICLE?
Right after the model year is introduced is considered the best time to lease a vehicle. This is because the residual value will be at its highest, giving you the best chance to save money on the depreciation cost. Our team of Lexus financial experts can help tailor a plan to best suit your situation with available incentives and specials.
SHOULD YOU BUY OR LEASE IF YOU HAVE SAVED ENOUGH MONEY FOR A LARGE DOWN PAYMENT?
Not only will a large down payment help keep your monthly payments low, it will also help you pay off your vehicle more quickly. A large down payment on a purchase can help lower your monthly payments down to a level similar to that of a lease.
IF YOU PREFER THE LATEST TECHNOLOGY IN YOUR VEHICLE, IS IT BETTER TO BUY OR LEASE?
Across the entire Lexus lineup you'll find innovative technology features, driver-assistive safety systems, and advanced multimedia entertainment. If you enjoy having access to these groundbreaking features, we recommend leasing. You can tailor a lease to ensure that you will be driving with the most current technology thanks to shorter term lengths.
IF YOU HAVE A LONG COMMUTE, IS IT BETTER OPTION TO BUY OR LEASE?
An important fact to consider is that the majority of lease contracts have a predetermined mileage limit. This mileage length can be increased or decreased to accommodate your driving needs. If you typically do lots of long-distance commuting, purchasing the vehicle may make the most financial sense. Our team of finance experts can help you choose which works best.
IS IT POSSIBLE TO BUY THE VEHICLE AT THE CONCLUSION OF THE LEASE?
Absolutely! We understand if you've fallen in love with your Lexus and want to keep it even if your lease is coming to an end. Your lease contract will include the price at which you're able to purchase your vehicle at the end of your lease.