Lehmann and Low are set for talks around Christmas and, if the situation at Arsenal does not alter, Low may advise him to change clubs.
And Lehmann now concedes that could be a consideration.
"Given what the Germany coach says, I will have to see how things are in December," he told Germany's Kicker magazine.
"I definitely want to play at Euro 2008. Playing there has always been my aim."
Lehmann would even consider dropping down a level - just so long as he can get a regular game.
"The Bundesliga is always attractive and is an option, and maybe the German second division is too," he said. The 38-year-old has not given up hope of dislodging Almunia and returning to the Arsenal goal, however.
He said: "The situation is as it is. It is only important what the manager decides and I am using this phase to train intensively every day.
"The manager knows I am highly motivated. I would like to play again soon and expect that I will do.
"I would be very surprised if that was not the case."