|Ownership||You own the vehicle and get to keep it as long as you want it.||You don’t own the vehicle. You get to use it for a finite period of time, and usually for a limited number of miles.|
|Up-Front Costs||If you are financing, there can be a down payment ranging from zero to several thousand dollars plus other fees.||Down payments can range from zero to several thousand dollars, plus other fees.|
|Monthly Payments||Can be higher than lease payments, but does allow you to gain equity in the vehicle.||Monthly payments can be lower with a lease payment, because the bulk of payments are covering depreciation.|
|Early Termination||If you decide you don’t want the vehicle any more, you can sell it or trade it in on another one, however any financing left on the vehicle will remain.||Ending a lease early will result in early termination fees, up to the remaining balance of the lease terms.|
|Vehicle Return||When you are ready to move on, once payments are finished you can either sell your car or trade it in on another, again depending on if there is a balance owed.||When your lease is up, you turn the car in, start over with another vehicle, or if you like your vehicle you have the option of financing it. Learn More|
|Mileage/Excessive Wear||There are no mileage limitations, keeping in mind the higher the mileage, the less value it will retain.||Leases have language that limits the number of miles allowed during the lease term. Going over this number will result in additional fees.|
Keep your current Lexus and outright pay or finance payments for the residual price of the vehicle.
Get the newest technology and features on your favorite Lexus model by upgrading to lease a current year model.
Make your last payment, turn in the keys, and walk away.