Some drivers may need some Lexus financial advice — especially when it comes to leasing. Leasing a Lexus vehicle can be a very different story than financing one, potentially leaving some customers unsure as to their best option. But the question still stands, can you finance a Lexus lease? Let’s take a look.
Leasing vs. Financing
Leasing a vehicle and financing one are fundamentally different processes. Leasing a vehicle enables drivers to enjoy a new vehicle for a few years. Financing, on the other hand, requires drivers to pay off a loan provided by a dealership or financial institution, giving them full ownership of the vehicle.
Both processes require an application and have financial requirements, but that’s about where the similarities end. Ultimately, leasing is for drivers looking for a less permanent commitment while financing is better for drivers looking for a long-term investment in a vehicle.
“Financing” a Lexus Lease
If you’ve signed a lease and have come to love your Lexus vehicle, there are ways you can make it your own for good. Most dealerships offer drivers the option to buy the vehicle at the end of the lease term, allowing drivers to keep the vehicle forever.
If this sounds like something you want to do, but are nervous about the cost, there are specific loans offered for this situation. A “lease buyout loan” can be acquired to cover the cost, functioning much in the way a standard car loan does. Just be sure that your lease agreement states that a buyout is possible at the end of your lease before moving forward.
As you can see, there are ways to “finance” your lease, but not exactly in the way drivers may think. If you’re ready to buy or lease a new Lexus car or SUV, visit Lexus of Orange Park today to check out our inventory. If you’re still on the fence, don’t hesitate to reach out to our finance department for more information.