Lexus IS 300 Lease
The average cost of a Lexus IS 300 lease ranges from $700 to $800 for 36 months.
Written by Mariza Morin
Reviewed by Jessica Barrett
A Lexus IS 300 lease costs between $700 and $800 a month, depending on your location, down payment amount, credit score, and negotiated price.
For over two decades, the Lexus IS 300 has earned its place at the podium among other luxurious compact sports sedans. If you want to enjoy the smooth ride of an IS 300 without the long-term commitment of a car loan, leasing might be a great option for you.
Unlike traditional auto loans, leasing comes with more restrictions. But on the flip side, you can drive a new vehicle during its best years for a lower average monthly payment. And when your lease is up, you can either buy the vehicle upfront or return it. No commitments!
Want to know how to lease a Lexus IS 300?
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super app Jerry
is here to answer all your questions! We’ll go over how leases work, how much you can expect to pay for a Lexus IS 300 lease, and what to expect when you reach the end of the term.How to lease a Lexus IS 300
Leasing a Lexus IS 300 shouldn’t be that different from leasing any other vehicle. Before going to your local dealer, consider your finances:
- Look into your credit score: Credit scores under 520 will probably not qualify for leasing. Anything under 630 is considered poor, but if your score’s above 650, you’re in a good position for a lease deal. A score of 740 or above is regarded as excellent.
- Bust out the calculator: Aim for a monthly payment that’s no more than 15% of your income—10% is even better. Also, figure out how much cash you can pay upfront. The bigger the down payment, the more you’ll bring down your monthly payments.
- Calculate your annual mileage: The average annual mileage cap is 10,000 to 15,000 miles. Be realistic about your driving habits, and do not go over your agreed mileage limit. Otherwise, you will have to pay a penalty for every mile you go over.
Once you have figured out your finances, head to your local Lexus dealership to
compare lease offers
. But before you go, have a clear budget in mind and stick to it. This will put you in a strong position to negotiate and get an IS 300 you can afford.The final step: shop for insurance
Should you lease or buy? Either way, you’ll need car insurance for your Lexus IS 300.
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How much does a Lexus IS 300 lease cost?
The average cost of a Lexus IS 300 ranges between $26,892 to $29,052 for a 36-month lease. This could possibly run you about $700 to $800 a month.
Your credit score, lease term, and down payment amount will play a significant role in the final cost. You may also see variations based on your location and the time of year, as leasing offers change over time.
The total cost of your monthly payments will also depend on which trim level and other options you choose at your local Lexus dealership. The IS 300 comes with two trim levels: IS 300 RWD and IS 300 AWD. If you don’t need the all-wheel-drive traction, going with the more fuel-efficient IS 300 RWD might save you more on monthly payments—not to mention at the pump.
The advantages of leasing a Lexus IS 300
Can’t decide between buying or leasing? Leasing a Lexus IS 300 comes with its benefits:
- Lower monthly payments: Even without a large down payment, you can expect lower monthly payments when you lease a car.
- No trade-in: When your lease is up, just arrange to drop the vehicle off at the dealership. No fuss, no muss!
- Up-to-date technology: Leasing a new vehicle ensures you’ll always have the most advanced technology at your disposal to enhance your driving experience.
- Warranty coverage: Most leases don’t last as long as the warranty itself, so you should be covered if you happen to run into any issues. Don’t cause any excessive damage, and the only costs you have to worry about are insurance and gas.
- Tax savings: Leasing a new car can potentially save you in sales tax! However, this depends on where you live, so talk to your local tax professional to find out more.
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What to do when your Lexus IS 300 lease is up
When the end of your Lexus lease comes around, you have three options:
- Return the car and lease a new Lexus (either another IS 300 or a different model)
- Request a payoff quote and purchase the vehicle you’re currently driving
How to return a leased Lexus IS 300
If you’re ready to return your Lexus IS 300 or if you’re looking for a whole new make/model, make arrangements to return the car. Follow Lexus’
return checklist
to make the transition as easy as possible.Before returning your vehicle, you must examine the Lexus for excess wear and tear.
Lexus’
Wear and Use Guidelines
specify what is considered excessive wear and tear. In general, anything super obvious—like dents bigger than a credit card or a cracked windshield—will result in extra charges. If you purchased Excess Wear & Use Protection, you might be covered for some extra wear.If you need to make any necessary repairs before returning your Lexus, schedule a complimentary appointment online with
AutoVIN
or by calling them at (855) 90-MY-LFS. Please note you must make your inspection appointment 15 to 60 days before returning the vehicle.Once your vehicle passes inspection, confirm your local Lexus dealership will accept the return. Only your originating Dealer is required to accept your lease return. You will be asked to sign the
Odometer Statement
and should ask for a copy for your personal records. How to purchase a leased Lexus IS 300
Not quite ready to part with your Lexus IS 300? It’s understandable! What driver wouldn’t want a ride this smooth and comfortable?
If you want to purchase your Lexus, log onto your
LFS online account
or call 1-800-286-0653 to get the process started. Key Takeaway If you want to drive the latest Lexus without a loan commitment, get your finances in order and make any necessary improvements to negotiate the best lease deal.
How to find the best car insurance for a Lexus IS 300 lease
You’ll find the best
Lexus insurance
around for your leased IS 300 with car insurance comparison app Jerry
at your fingertips. Not only is Jerry a super app, but it’s also super easy to use! Once you download Jerry, just answer a handful of questions, and in 45 seconds, you’ll immediately receive
car insurance
quotes for coverage similar to your current plan—only better! Jerry’s team of experienced agents will handle all the paperwork, including helping you cancel your old policy.That’s right! It’s that easy. With Jerry, it’s all about saving you time and money.
How much will you save? On average, Jerry customers save an average of $887 a year.
“Because I have a luxury car, I was more interested in finding better coverage than the exact price.Jerryhelped me upgrade my policy, and when my record is cleared next year, I will be using Jerry again to choose an even cheaper plan!” —Paige W.
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