Lexus Streamlines Car Buying With Two-Year, Subscription-Style Leasing Program
Lexus Complete Lease offers a customers a monthly bill that includes all the necessary components of buying a new car, taking the hassle out of vehicle ownership.
Despite the recent rise of risesharing services, car ownership is trending up. Now, to make its vehicles stand out to prospective buyers, automotive brand Lexus is making car leasing easier than ever before, folding two years of payments, insurance, connected services and maintenance into a simple, subscription-style model.
As PSFK analysts identified in a recent research paper on reimagining the sales experience, Lexus Complete Lease offers a customers a monthly bill that includes all the necessary components of buying a new car, taking the hassle out of vehicle ownership. On top of necessities like lease payments and insurance, the included insurance and perks like SiriusXM are likely to attract customers who want luxury without the hurdles that often come with large purchases.
This kind of model is becoming more common in the automotive industry as a way to disrupt the way people drive. Canoo, a just-announced startup, uses a subscription-only model for its fleet of vehicles, which will work in a similar way to Complete Lease. The market is getting more comfortable with subscription models and stress-free buying, meaning Lexus is well-positioned to change with the times.
Lead image: Lexus