Are you getting ready to lease a Lexus for your household? Here are a few important things to find out before signing on the dotted line:
Can the Lease Be Changed Later?
Even if you plan on keeping the Lexus for the entirety of the lease, your personal circumstances or preferences might change at some point before you've honored your lease. No matter the reason for needing a different type of vehicle, you should be able to trade it in for a different one or return the Lexus altogether before the lease if up if it becomes necessary — even if you have to pay a penalty fee for breaking your lease.
Before signing a lease, make sure you completely understand whether you will be able to change or break the lease at a later time. Otherwise you may be on the hook for the financial responsibility of the lease even if you don't end up keeping the Lexus.
What if the Vehicle Breaks Down?
You should also find out what to expect if the Lexus you're leasing breaks down at any time while under your care. If you end up breaking down while traveling, will the leasing company provide you with towing service and help get you back on the road again? If it will be more than a day before your Lexus is ready to drive again, will the leasing company let you borrow a rental to use in the mean time?
And what if your Lexus needs repairs that aren't putting you at risk of breaking down? Will you have to pay for those repairs or will the leasing company take care of them for you? In addition to asking these questions, it's a good idea to make sure that maintenance and tune-ups will be included in your lease.
Are There any Usage Expectations?
You need to know all about any usage expectations that might be included in your lease, or you might end up spending a lot more on your Lexus than you plan to. If the leasing company expects that you'll drive no more than a specific amount of miles each year, you will likely be charged for every mile you drive beyond that limit.
There may be other usage stipulations in your lease contract to be aware of, so don't just rely on your understanding of the lease when you sign it. Ask the company to provide you with a list of any usage expectations that you'll be responsible for to ensure that nothing important is overlooked.