Common Car Lease Objections We Hear At Lexus Of Las Vegas
Is a car lease your best option? It’s hard to say because everyone’s financial situation is different. But whether a lease is your best option for a new Lexus or not, don’t let some common leasing myths slow you down.
Here are some of the most common leasing objections and the reasons why they don’t stand up to scrutiny:
“I don’t understand car leasing.”
In many respects, a lease is very much like a conventional loan: depending on your situation, you can trade the car in or you can re-finance with your own lender. You have the same responsibilities as you do if you finance or pay cash in regards to maintenance, insurance, and registration. If you trade cars every 3 – 4 years, you may be an excellent lease candidate because we have very favorable terms in the 27-48 month lease term ranges. Even if you usually pay cash for a car, there are opportunity costs of what you may have made investing that money, and the loss from depreciation (you are protected from this in a lease)
“I don’t own the vehicle if I lease it.”
Think about it this way: if you borrow money to purchase a vehicle, either with a conventional loan or a lease agreement, you will still not own the car until it the lender is paid in full. A lease is just a different way to finance a car, with an option to walk away or to complete your purchase at the end of the lease term, assuming you do not have any excessive wear and tear or mileage.
“I drive too many miles to lease.”
The average buyer drives around 12,000 miles per year, and we find that most people in Las Vegas actually drive less. We can customize leases to fit your driving habits, with annual mileage allowances starting at 10,000 miles for low mileage drivers, and going to up to 100,000 total miles over the lease term. Compared to the average depreciation cost per mile for most vehicles, you may pay less in the long run if you lease instead of purchase.
“I had issues leasing in the past.”
Lexus leases are closed end, which means your lease end (residual value) amount is set in writing at the beginning of the lease. Our clients that bring their leased car back at or under your mileage limit, in good condition, and with all original equipment, don’t have any problems. If you do go over your mileage limit or have concerns about damage, it’Âs an option to trade the vehicle in instead of turning it in.
Now that you’ve learned about why many objections to leasing are not valid, why not check out our page discussing the Benefits of Leasing a Lexus. You might also be interested in exploring other web resources about car leasing, such as Edmunds.