Buy vs Lease in Chicago, IL
Once you’ve found the Lexus model that speaks to your wishlist, it’ll be time to decide whether you should buy or lease it. Our finance team at McGrath Lexus of Chicago will be happy to help you make a decision. In the meantime, read this overview for a description of each option.
Buying
Buying is a tried and true way to get into possession of a vehicle for many motorists in Chicago. With this avenue, you’ll be able to take home your desired Lexus edition and begin a payment plan for the sticker price. You are able to pick between both used and new iterations as well, so the vehicle pool is higher. Buying contracts usually span the length of four to seven years, depending on how much you reimburse each month. The bigger the sum, the less time it’ll take for you to assume full ownership. Once the agreement is fully paid off, you can begin to switch up details on the auto, such as the color or features.
Leasing
If you are excited about the prospect of taking a new set of wheels down the Stevenson Expressway but don’t want to be locked into a long term contract, then we’d love to go over leasing. With this option, you’ll be getting your hands on a factory-fresh Lexus model to drive around for about two to four years. As you can see, this timeframe is less than if you were to buy an auto. Instead of reimbursing the full cost, you’re just on the hook for the expected depreciation value, which is determined by the mileage limit you set. When the agreement comes to a close, don’t hesitate to lease out a newer iteration to stay on top of trends. We can swap you over to a purchasing plan if you’ve enjoyed your time with the Lexus of your choosing. Finally, we can end the terms altogether.
Which Option Is Best For You?
Both of the aforementioned choices are great ways to get your hands on a vehicle to take on your trip to Millenium Park. Neither option is above the other, as they depend solely on your conditions. For example, if you are set on a strict budget, then leasing can be a great way to acquire a ride without paying a high price. This route is also beneficial if you aren’t planning to stay in your same area, since the terms don’t last as long as a purchasing plan. On the opposing side, if you are considering leaving Illinois, buying may be the preferred option, since you won’t have to return the auto like you would with a lease. Plus, you’ll have more control over the appearance and makeup of the Lexus edition. When you’ve discovered the avenue for you, contact us!
Buying
Leasing
- Four to seven year contract
- Full creative control over model
- Choice between new and used vehicles
- Two to four year contract
- Pay toward depreciation value
- Factory-fresh sets of wheels only
Sales Hours
(833) 536-7346
| Monday | 9:00 am - 8:00 pm |
| Tuesday | 9:00 am - 8:00 pm |
| Wednesday | 9:00 am - 8:00 pm |
| Thursday | 9:00 am - 8:00 pm |
| Friday | 9:00 am - 6:00 pm |
| Saturday | 9:00 am - 6:00 pm |
| Sunday | Closed |
Dealership Information
Testimonials
“ Excellent sales and financing! Donte was amazing and Douglas was amazing as well! Highly recommend this dealership. The people here are wonderful and helpful. ”
“ Best Lexus dealership in the mid west ”
“ Steven was great to work with!! ”
“ I had an amazing experience at the McGrath dealership on Divison Ave, they were outstanding, very professional . l was treated with respect,. They made feel at home and very satisfied. ”
“ Justin Parrilla has been the service adviser for my 2008 GX470 for a good while. His attention to great service keeps my SUV running smoothly and the repairs affordable for my older vehicle. ”
“ My salesperson was excellent and the whole sales team provided excellent service for my new car buying experience. ”
“ Great experience with Donte. We drove some distance to see a vehicle and he went above and beyond to send us additional photos. Love my new car and the overall experience at McGrath! Thank You ”
“ Had the best experience here. Wayne was so patient with me. I came in a little nervous in October after a bad experience @ fields (they were too pushy). Wayne was patient and listened. I Finally got my baby. Krystal was amazing too, helped me get a wonderful deal on my brand new NX Hybrid. So thankful for you 2. I will always recommend McGrath!! ”
“ great experience ”
“ Great dealership ”
“ (Translated by Google) undefined (Original) Could not have had a more enjoyable car purchasing experience. Brent was so helpful, as well as the finance department and the technical help with the new vehicle. Thank you McGrath team. ”
“ Junaid was great. Helped me lock in the deal I was looking for and feel good about the purchase. ”
“ Karyna was wonderful to work with. The buying process was smooth and the dealership was responsive. Highly recommended ”
“ We had a wonderful experience at McGrath Lexus this week. Karona is an experienced, thoughtful and caring sales rep. She was always available, responsive and worked to ensure we purchased the right vehicle. Kristal did a great job with financing and Adrian was patient and helpful getting us comfortable with our new ride. Dream team! ”
“ Karuna is the best!!!! Warm, efficient, thorough, and quick! ”
“ (Translated by Google) undefined (Original) Good service ”
“ Thank you Gerry Arquines and staff for an excellent experience for my mom and Dad buying their brand new Lexus TX ”
“ (Translated by Google) undefined (Original) Amazing! Brent and Nick were fabulous!! ”
“ Ms.Julie Hill Did It Again ... She Worked With My Budget And Got Me The Vehicle I Wanted ... Thrust Me She Is The Sales Rep U Want To Work With At Mcgrath Lexus Downtown ... Outgoing, Friendly, And Patient ...Thanks To Mike And Krystal In The Finance Office Also ... U Guys Are The Best 🤗 ”
“ (Translated by Google) undefined (Original) Proud member of the Chicago McGrath Lexus family. I'm so glad I decided to purchase my Lexus from here back in 2021. Five years later I had a minor issue and Matt still took care of me. When is time to buy my next car I am coming back. Choose this dealer for 100% satisfaction. You'll feel like family. ”
“ (Translated by Google) undefined (Original) I just took Kathy‘s 2008 Lexus RX in for oil change we live in downtown Chicago. They furnished a free lift ride home and back when the car was finished they changed the oil and filter. Did a 79 point inspection and a car wash including tax $104. I highly recommend them. The service advisor was five stars. ”
“ (Translated by Google) undefined (Original) Outstanding Experience at McGrath Lexus! I had an exceptional experience at McGrath Lexus, and I can’t thank Karona enough for making it so memorable. From start to finish, everything was smooth, professional, and hassle-free. Karona went above and beyond by offering a great discount and surprising me with Lexus goodies, which was such a nice touch. They truly made the “December to Remember” event live up to its name and even made my birthday feel extra special, something I’ll genuinely remember. The processing was incredibly fast, with no unnecessary waiting, and the level of service was top-notch—transparent, efficient, and customer-focused throughout the entire experience. A big thank you to Karona and the team at McGrath Lexus for delivering such an outstanding experience. I highly recommend them to anyone looking for a premium car-buying experience with excellent service. ”
“ (Translated by Google) undefined (Original) Our experience at McGrath Lexus was wonderful! Karuna was our sales rep and she is amazing! She got us a great deal on the car, and the whole process was smooth and painless. ”
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“ (Translated by Google) undefined (Original) I want to highlight the outstanding experience I had working with Donte at McGrath Lexus Chicago. He helped me purchase my Lexus almost a year ago, and since then he’s continued to be a great resource whenever I had questions about Lexus models. His product knowledge, responsiveness, and consistency made the entire buying process smooth and stress-free. McGrath Lexus Chicago as a whole has always been worth the drive, and Donte is a big part of that. If you’re considering a Lexus, I highly recommend reaching out to him—he delivers the level of service you expect from a luxury brand. ”
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“ (Translated by Google) undefined (Original) I worked with Julie Hill at McGrath Lexus 1250 W Division and my experience was incredible. She made me feel valued, cared for, and completely at ease. She ensuring I had food, water, and comfort while visiting the dealership. The other staff members were kind and friendly. Exceptional customer care! ”
“ Very friendly. Professional ”
“ (Translated by Google) undefined (Original) Thank you, McGrath Lexus of Chicago! I had a truly wonderful experience from start to finish. My saleswoman Julie and the entire finance team made the process smooth, professional, and enjoyable. Julie even offered me her warm dinner as I waited. I appreciate the care and attention everyone showed throughout the journey. I purchased a beautiful Lexus RX 350. I’m happy to be a part of the Lexus family. ”
“ (Translated by Google) undefined (Original) It was a pleasure working with Michael L. in sales, and Don from the Finance team. I would highly recommend McGrath Lexus to potential buyers in the future. ”
“ Quick response, superb communication. Highly recommended to first time buyers. This kind of service is hard to find nowadays. ”
“ (Translated by Google) undefined (Original) I've bought many cars over the years, and this was by far the best experience. My sales representative, Alexandra, was fantastic! The entire team was incredible—Alexandra, Heather, Rick, and Kristal—you all did an amazing job. I will be a customer for life. Thank you! Joe ”
“ (Translated by Google) undefined (Original) Mike was really easy to work with and gave me whatever info I needed. Great service. ”
“ (Translated by Google) undefined (Original) Really great people very accommodating answered all my questions defenetly recommend ”
“ (Translated by Google) undefined (Original) We just bought our Lexus TX 350 Premium AWD from McGrath Lexus of Chicago, and the whole experience was incredible. Genaro was hands down the best — super friendly, professional, and went above and beyond to make sure we got the best deal possible. He made everything easy and enjoyable, and we truly felt like he had our best interests at heart. The Lexus brand speaks for itself — quality, reliability, and that luxury feel — but what really sealed the deal was the exceptional customer service at McGrath. Everyone we worked with was genuine and transparent, which is rare in car buying these days. Huge shoutout to Noah and Michael on the finance team — they were amazing at walking us through our options, breaking things down clearly, and making sure we felt confident about every detail. It was truly a win-win all around. Overall, the transparency, professionalism, and service here were top-notch. We couldn’t be happier with our Lexus or the experience we had. We’ll definitely be back in the future and highly recommend Genaro and the McGrath Lexus of Chicago team to anyone looking for a new Lexus! ”
“ You will never find a dealership like Lexus in Chicago. Their sales team is superb, especially Karuna. They will do everything in their power to get you what you want for the price you can afford. They will never try to scam you or add on extra fees that you don't understand. The process will be seamless from beginning to end. Karuna continues to care for her clients even after the purchase. She remains available through text, fixes any misunderstandings, and will always make things right. You will never feel cheated or abandoned like you do at some other dealers. They are truly a hidden luxury vehicle gem in the Midwest. ”