Lexus Financial

Lexus Financial In-Depth Review (Updated 2020)

Lexus Financial Services (LFS) is the finance brand for Lexus in the United States and a division of Toyota Motor Credit Corporation (TMCC). It was founded in 1980 and currently operates in 49 states as well as in Washinton, DC.

If you are thinking of buying or leasing a Lexus as your next vehicle, LFS may be the company to help you.

To find out, read our in-depth review and analysis of the company and its offering.

Financing options

Lexus can work with buyers who have different needs and varying circumstances.

Here are the available options:


Looking to own your next Lexus? No problem. Lexus Financial offers auto loans on new and L/Certified by Lexus vehicles, so you don’t have to worry about mileage limits or lease-end dates. Terms range from 24 to 72 months.

What is an L/Certified by Lexus vehicle? 

A vehicle that undergoes a 161-point inspection, a Vehicle History Report, and includes the L-Certified Limited Warranty and roadside assistance.

The warranty extends for two years after the Basic Warranty expires, or two years from the lease or purchase date, and has unlimited mileage.

Is buying new worth it?

Preferred Option Plan

The Preferred Options Plan is for auto loans and allows you to put a significant portion of your principal balance onto the end of your contract as a balloon payment.

This can be advantageous if you want lower monthly payments. When the balloon payment becomes due, customers must pay it or refinance it into another loan.


If you prefer to lease a new or Qualified L/Certified vehicle, you can do that, too. Terms range from 24 to 60 months.

At the end of your lease, you can turn in your vehicle and buy or lease another Lexus, purchase it, or return it to your Lexus dealership.

Several special lease types are available including:

  • Pay lease: Prepay your lease in full at signing in one payment and get a discount.
  • Low-mileage lease: Lessees who don’t drive long distances can save by choosing a reduced mileage limit of 7,500, 10,000, or 12,000 miles per year.
  • Multiple security deposit lease: Reduce the lease cost by placing up to nine additional security deposits (which will be refunded when your lease ends).

At the end of the lease, you will have to pay for any mileage over your limit and for wear and use that is considered excessive. Lexus Financial features Wear and Use Guidelines on its website.

Lexus dealers will be able to provide you with the terms, conditions, restrictions, etc.

Buying vs. leasing, which should you choose?


When buying or leasing a vehicle from LFS, you will need insurance.

For the full extent of the lease contract, you will need the minimum liability coverage required by your state, and physical damage coverage for the full value of the vehicle. Further, your deductible can’t exceed $1,000.

For a purchase, you’ll need physical damage insurance which covers the full value of your vehicle for the length of the contract. Note, no deductible limits exist.

Learn about the 10 major factors that determine your car insurance premium.

Payment Options

Payment convenience and flexibility is important. Here’s what you should know about LFS payment options.

Monthly payments

Several options exist for paying monthly payments.

  • Lexus Financial pay by phone: Call the customer service team and make a payment from your checking account (available 24/7).
  • Online: Schedule a single payment or recurring payments from your checking account.
  • By mail: Send your payment to the Payment Mailing Address.
  • Pay in the app: Download the mobile application on your smartphone and make the payment in the app from your checking account.
  • Western Union Quick Collect: Make your payment to Western Union by cash or credit card.
  • Pay using CheckFreePay payment: Make cash payments at retail locations.

While LFS does not process credit or debit card payments, you can pay by cash or credit card with WUQC and CheckFreePay.

Payment arrangements

In the scenario that you need to postpone payment, LFS offers the following options.


LFS offers extensions (upon approval), in which an auto loan payment is moved to the end of your contract. Contact the customer service team to request one, and they will evaluate your situation.

Note, additional finance charges may apply.


Deferrals are the same as extensions but for customers with a lease. You can request to defer a lease payment to the end of your contract but may incur additional fees.


If you are ready to pay off your auto loan or lease, contact the customer service center for details about the procedure.

Finance customers will mail their payoff payment to the following Lexus Financial address:

Retail Payoff Lexus Financial Services
P.O. Box 5855
Carol Stream, IL 60197-5855

Customer service will inform lease customers where to mail their payoff payment.

Special programs

LFS offers programs that may be able to help you save on your next loan or lease, including:

  • College Graduate Program: Qualifying college graduates who are presently employed (or soon-to-be) may qualify for rebates, reduced APRs, and competitive lease terms.
  • Military Reward Program: Qualifying military service members and their families can get $750 off when purchasing or leasing a new Lexus.
  • Repeat Customers: LFS rewards loyalty by offering repeat customers exclusive benefits.
  • Offers: LFS has a special offers page where you will find promotions on various vehicles near you.

Ask your local dealer about LFS special programs to find out the details and if you qualify.

Looking to save? Learn how to get the best auto loan rates.

Tools and resources

LFS offers tools and resources to help potential customers decide on their next vehicle such as:

  • Brochures: Learn about LFS products and services through brochures
  • Dealer Locator: Easily find dealers near you
  • Buy or lease quiz: Take a quiz to help you figure out if leasing or buying is better for you
  • Lease-end guide: Learn about the lease-end process
  • FAQ page: Read answers to frequently asked questions

All of these can help customers find the right solution.

Vehicle protection plans

If you buy a Lexus, you will have the option to protect your vehicle with a selection of plans including:

  • Vehicle Service Agreements: Covers eligible parts and repairs
  • Tire and Wheel Protection: Covers repairs and replacement of tires and wheels
  • Guaranteed Auto Protection (GAP): Cover the gap in coverage between your insurance and what you owe in the event of a total loss
  • Prepaid Maintenance Plans: Pay upfront for future maintenance coverage

Speak with your dealer about the costs and details of these protection plans.

Lexus Financial customer service

LFS offers general customer service support in the Continental U.S. from Monday to Friday, 8 a.m. to 8 p.m. The Lexus Financial phone number is 1-800-874-7050.

Additionally, it offers the following support phone lines:

Service Phone Lines

You can also ask questions through an online form on the LFS website. Further, you can register your account to manage it online and get access to other helpful features.

Read reviews about Lexus Financial Services

Apply with Lexus Financial

Applying for credit through Lexus Financial Services is quick and easy.

Answer a few questions online, and you’ll get a credit decision via email. It will, however, impact your credit score.

    1. Visit the website and click “Apply for Credit.”Apply Online

    2. Enter your zip code.Zipcode

    3. Choose the vehicle model you want.Lexus Finance review

    4. Select your finance option and enter your name, email, and address information.Lexus Finance review

    5. Provide your social security number, and details about your education, employment, and income.Lexus Finance review

    6. Select a participating dealer near you.Lexus Finance review

    7. Choose a term length and provide your down payment amount.Lexus Finance review

    8. Review the privacy options and terms, agree and submit the application.Lexus Finance review

After this step, look out for the credit decision in your email inbox.

Note: Once you submit your application, your information will be encrypted and sent to LFS and the dealer you chose. After the application is processed by LFS, you and the dealer will get a notification.

Upon approval, you will get a pre-approval notice via email which you can take to the dealer you selected. Then, you can choose a vehicle and complete the transaction at the dealership.

Learn how to get pre-approved for an auto loan without hurting your credit

Compare rates and find the best deal

Now you know all the details about Lexus Financial. It’s part of the Lexus brand and works in collaboration with dealers to get you an auto loan or lease contract on Lexus vehicles.


Compare the pros and cons to make a better decision.

  • Online tools and resources to help you find the right solution
  • Dealers nationwide
  • Special programs provide savings
  • Wide selection of payment options
  • Extension and deferrals are available
  • Convenient online application
  • Loyalty rewards
  • Competitive interest rates and lease terms.
  • Reports of poor customer experiences
  • Application for pre-approval requires a hard credit inquiry
  • No way to purchase additional miles on a lease
  • May not offer the best deal
  • LFS communicates with dealers which reduces your negotiating power

FAQ on Lexus Financial Service

Who does Lexus use for financing?

Lexus Financial Services (LFS) is the finance brand for Lexus in the United States and a division of Toyota Motor Credit Corporation (TMCC).

What credit score is needed for Lexus Financial?

Applicants with a credit score of at least 650 and up to 850 are eligible for Lexus Financial Services Auto Loan.

Can I turn my Lexus lease in early?

You may return your vehicle prior to your lease maturity date; however, early termination fees may apply. 

What is the grace period for Lexus Financial?

You have a 10 day grace period. You will not be charged a late fee if you pay your bill within this time frame.

Does Lexus have a disposition fee?

A disposition fee will be applied at the end of your lease to help cover the costs to sell or dispose of your vehicle. We’ll waive this fee for qualifying customers who lease or finance their next vehicle with LFS through a Lexus dealer.

The company has several benefits to offer. However, be sure to carefully consider the drawbacks before making a decision.

You may be able to get a better deal from another lender that fares well in consumer reviews (such as Springboard, for example), so it’s wise to shop around. Compare LFS to a few other options to see if it can truly offer you the best overall value.

Click here to learn more and apply to Lexus FInancial. Then, see how the offer compares to other top auto loan lenders.

By doing so, you can be confident you’re getting the best deal for your specific needs.