Lexus of London

Pre-Owned Leasing

We lease pre-owned the same way we lease new vehicles.

Your next vehicle doesn't have to be new to be leased. Explore pre-owned leasing here at Lexus of London, and let's find a vehicle and payment options that fit the way you drive.

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A different way to drive

Can you lease a pre-owned vehicle?

Yes. Lexus of London offers pre-owned leasing here in Southern Ontario. We'll help you explore eligible vehicles and explain the available terms. Your options depend on the vehicle, the program and your approved application.

Whether you're planning your daily commute or making room for a growing family, it's worth comparing leasing with financing. Prefer a new Lexus? We can help you explore new-vehicle leasing, too.

Pre-owned leasing graphic for customers exploring used car leasing at Lexus of London

Make room for what matters

Why lease a pre-owned vehicle?

Leasing gives you a different way to balance your budget, your driving needs and your plans for the next few years.

Financial advantages

More breathing room in your budget. Leasing may mean lower payments than financing over the same term. That can leave room for other priorities, though it doesn't necessarily mean a lower total cost.
Payments based on your time with the vehicle. You're generally paying for its expected depreciation during the lease, along with financing charges, taxes and fees, rather than repaying its full purchase price.
An end value set from the start. Your lease establishes a residual value upfront. With a closed-end lease, you're generally protected from a resale-value shortfall at the scheduled end, provided you meet the agreement's conditions.
Possibilities for business use. Some business-related lease expenses may be deductible. Your accountant can help you understand the applicable limits and how they relate to your situation.

Flexibility & lifestyle

A vehicle for where life takes you. A different commute, a growing family or new interests may change what you need. At lease end, you can explore a vehicle that suits your next chapter.
Opportunities to enjoy newer features. Changing vehicles every few years can give you access to more recent comfort, technology and safety features.
Potential remaining warranty coverage. A newer pre-owned vehicle may have coverage remaining for eligible repairs. We'll help you check what's left; it may not cover the entire lease term.
Options not obligations at lease end Return your vehicle according to the agreement, look into another lease or ask about purchasing the one you've come to know. Your available choices and any amounts owing depend on your contract.

Plan for life's what-ifs

Walkaway Protection

Lexus of London provides 12 months of complimentary WALKAWAY Finance Protection with eligible financing or leasing. If a covered life event affects your income, vehicle-return protection may help, subject to policy limits, conditions and exclusions. We'll help you check eligibility and explore available upgrades.

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Think ahead

What happens when your lease ends?

Options, not obligations, at lease end. We'll walk you through your agreement well before your term ends, so you understand every choice available to you and what each involves.

Make it yours

If your lease includes a purchase option, you can buy the vehicle for the agreed buyout amount, plus applicable taxes and fees. Financing the purchase is subject to approval.

Return your vehicle

You can return it under your lease's conditions. Charges may apply for excess kilometres, wear or other outstanding amounts, so it's helpful to review those details ahead of time.

Find your next fit

Once your current agreement is settled, you can explore another lease or purchase. Vehicle availability and approval will determine your next set of options.

Lexus of London dealership in London, Ontario

Your local leasing team

Let's talk about your next vehicle

Visit us at 1065 Wharncliffe Road South in London. Bring your questions, your wish list or a vehicle you've spotted online. We'll help you understand your leasing options and decide on your next step.

We're here for drivers across London, St. Thomas, Strathroy and nearby Middlesex County communities.

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Get to know your options

Pre-owned leasing questions, answered

Can I lease a pre-owned vehicle at Lexus of London?

Yes. Leasing depends on vehicle eligibility, credit approval and the terms of your agreement.

How is my lease payment calculated?

Your quote takes into account the vehicle price, interest rate, lease term, upfront payment and residual value, which is the value established for the end of the lease. Applicable taxes and fees also affect what you'll pay.

Why might leasing cost less each month than financing?

Lease payments generally reflect the vehicle's expected depreciation over the term, plus financing charges, taxes and fees. Since you aren't repaying the full purchase price, payments may be lower than a purchase loan over the same period. Compare the total cost as well, especially if you're considering buying the vehicle at lease end.

Can I choose a payment schedule or prepay my lease?

Depending on the program, monthly, biweekly or weekly payments may be available. There may also be a prepaid or single-payment option. We'll confirm what's offered for your vehicle and explain the effect on your upfront payment and total lease cost.

How many kilometres can I drive?

Your lease specifies a km allowance and the charges for going over it. Let us know your expected yearly driving distance so we can discuss suitable options before you commit.

Can I get protection for excess wear and tear?

Optional protection may be available for certain wear-related charges at return. Ask us about pricing, coverage limits, exclusions and costs you'd still be responsible for. Excess-km charges aren't necessarily included.

Can I lease a pre-owned vehicle for my business?

Absolutely. Tell us how you'll use the vehicle, and we can review available programs and application requirements. Your accountant can explain any tax implications or potential deductions.

Take the next step

Find a vehicle. Explore the possibilities.

Start with our pre-owned inventory, then get in touch for a vehicle-specific leasing quote. We'll help you compare your options and find out what works for you.

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Lexus of London 1065 Wharncliffe Road South London, ON N6L 1J9 (519) 680-1900

Inventory, vehicle eligibility and leasing programs may change. All leases require credit approval and are governed by the signed agreement. Contact Lexus of London for current availability, complete terms and a quote for your chosen vehicle.