The Lexus LBX is a petrol-electric hybrid model based on the same underpinnings as the Toyota Yaris Cross, but with more than few tweaks to help it stand apart from the budget-focused high-rider it shares plenty with.
The new pint-sized luxury crossover model takes its place as the most affordable model in the brand’s range, with a three-variant line-up aimed at younger buyers or previous Lexus customers who are in the market for a runaround car.
- Lexus LBX Luxury 2WD – $47,550 plus on-roads
- Lexus LBX Sports Luxury 2WD – $52,990 plus on-roads
- Lexus LBX Sports Luxury AWD – $56,990 plus on-roads
That sort of pricing positions it surprisingly close to the Toyota C-HR, Audi Q2, Honda HR-V and Peugeot 2008, to name a few. But unlike all of them, the LBX offers a different form of custodianship to customers, who can choose to ‘use’ the car, rather than ‘own’ it.
That’s because Lexus is introducing a new Full Service Lease program for the LBX, similar to what Toyota has just introduced with the bZ4X electric SUV. According to the Japanese brand, it offers a simple way to use a brand new car for a specific period, while avoiding the contentious resale value and trade-in options at the end.
The cost of the Full Service Lease (FSL) monthly payments are calculated based on the spec of LBX, the anticipated mileage, any accessories and service inclusions, and you can even roll-in accessories, if you wish.
Included in the monthly cost is registration and Compulsory Third Party (CTP) insurance, any luxury car tax payable (thankfully not on the LBX), scheduled maintenance (otherwise $595 per year for the first five), comprehensive car insurance, and those who chose the FSL get three years’ Lexus Encore membership, with benefits like discounted fuel, brand experiences and more.
“Typical funding solutions for our customers include cash, a consumer loan, or a novated lease. But in what we understand is a first for a luxury automotive brand in Australia, we are expanding these options with LBX by offering a consumer Full Service Lease through Lexus Finance Australia,” said John Pappas, Lexus Australia CEO.
“In addition to the use of the vehicle, our Full Service Lease covers registration, insurance, and capped-price servicing, all with the convenience of a single monthly payment,” he said. “And you can add a fuel card if you wish.”
“It’s all about ease of usership, convenience, and peace of mind. That’s because after a lease term of up to five years, you simply hand the car back to a dealer, or you can lease it again, or you can move to another new vehicle.
“We’re offering it up to a five-year period, so it depends on the customer, and how they want to tailor it,” he said. “There are some parameters obviously through Lexus Finance Australia that [the customer has] to tell us, around what they’re going to do, travel-wise, and then there’ll be a fee [the customer] has to pay, usership-wise, per month, over whatever period they’re signing up for, be that three, four or five years, and that’s a fixed amount.”
The positives for a customer seem evident, in that they simply have that payment disappear from their account each month, and in turn because they won’t run a car beyond the initial warranty and servicing period, it should be a hassle-free program, without the resale risk.
Lexus Australia was unable to provide any indicative costing for the monthly payments, however, with those interested asked to check the brand’s website and get in touch with a dealership for more info.
As mentioned, the LBX employs an all-hybrid line-up, with motivation from a 1.5-litre three-cylinder petrol-electric powertrain with an electric motor, nickel-metal hydride battery pack, a CVT automatic and the choice of front-wheel drive, or all-wheel drive by way of an additional rear electric motor.
Power outputs are identical range wide, with a combined 100kW on offer. But it’s the fuel consumption that steals the show, with all grades claiming an official combined cycle usage number of just 3.8 litres per 100km, making it one of the most frugal vehicles on the market.
