7430 W Orchid Ln, Chandler, AZ 85226 Experience the Difference
See Lexus of Chandler for Greater Phoenix Lexus Service
Lexus of Chandler is committed to keeping your Lexus car or SUV running at peak performance and the expert technicians at our Lexus service center have years of experience with your vehicle. When you are looking for greater Phoenix Lexus service visit our Chandler luxury car dealership to ensure you are taken care of.
Thank you for choosing Lexus of Chandler. While it's not necessary, creating an account gives you easy access to view your service history and change your profile information. If you'd prefer to schedule with our Service Concierge, please feel free to contact us directly at 866-714-9457
When it comes to buying or leasing a car the options can be confusing. We hope you find the below side-by-side comparison to be helpful when making an informed decision on your next new Lexus.
When you Finance a new car you pay for the entire cost of the vehicle. When you lease you pay for only a portion of the vehicle's cost, which is the part you use during the time you are driving it.
Leasing benefits: Makes a more expensive car with more options affordable. There are shorter terms available including 24, 27 and 36 months. You have flexible options at the end of the lease. Leasing terms are generally within the Lexus factory warranty limitations. There are pre-paid maintenance programs available so there won’t be any out-of-pocket maintenance during the lease period. Gap Protection is included in all Lexus leases which will cover the payoff in a total loss situation.
Whether you pay for the car with cash, or finance it and make monthly payments, either way it's yours. Of course, if you're financing it, you'll have to meet the obligations of the lender which may require a down payment amount. If you don’t make timely payments they have the right to repossess it.
Who Owns It
You do not own the car when you lease. You're paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car.
If you're financing the car, the bank may require a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment, terms of loan including the interest rate and maximum length of time is based on several factors including your credit score, personal credit profile, debt to income ratio, etc.
Leases can be customized to what you want to put in them. Often times Lexus offers Lease specials which do require a minimum down to get to advertised payment. Generally first month’s payment, acquisition fee, title/registration fees, dealer fees are required. Of course if you want a lower payment you can always pay more upfront. As with financing your credit score, personal credit profile, debt to income ratio, etc. have an effect on the Lease factors.
Your vehicle will be worth whatever someone is willing to pay you for it. You can sell it to a private party, or trade it in on another vehicle. and that depends on how well you maintain it. (Be smart and protect your investment with our protection programs and regular scheduled maintenance by a factory-authorized facility!) If you have had an accident, it will affect the value even if you've had it fully repaired and even more so if it has been reported to carfax.
In a lease you don't end up owning it so you don't end up selling it. That's the financial institution's job. One objective to leasing is that the vehicle will be worth the payoff at lease maturity. If you have equity in the vehicle at maturity, you can use it towards your next vehicle purchase. Although if you exceed your allowed mileage limits or have excess wear and tear it could cost you extra money when you turn your vehicle back in. If you've had an accident, as long as it's been fully repaired, Lexus Financial Services takes the loss of value hit even if it has been reported to carfax.
End of Payments
Once you've paid off what you owe on your contract, that's it. Your vehicle is 100% yours. The lending institution will send you the title and lien release as proof that the vehicle is completely paid off and all yours.
End of Payments
Most people return or trade in their Lexus at the end of the lease term. But some choose to buyout their lease. Just ask us about these different options before signing any paperwork and we'll make sure you have your lease set up the way you want it.
Best Cars to Lease
The best cars to lease are those with the highest residuals after the term of the lease. Since they depreciate less, you pay less. Lexus has some of the highest end of lease values, making it a great vehicle to lease.