The term, lease option, in car financing typically refers to the availability of leasing as one of the ways to acquire a new car. The other options are 1) paying cash, and 2) a loan.
All car dealers offer leasing as a option for those who prefer it. For many automotive consumers, leasing offers advantages. Approximately 30% of all new-car sales today are leases. Luxury cars are leased at even higher rates.
Although having a lease option is attractive, consumers are warned to make sure they understand how car leasing works and how to determine if leasing is right for them.