Last Updated: 04/18/2025
Lexus Financial Services Auto Loan
Unaffiliated
in Auto Loans from Lexus Financial Services
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -86
Strongly not recommended21 total votes
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Highlights
Community Rating
Strongly not recommended
Amount Range
$10,000 - $100,000
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APR (Fixed APR)
0.9% - 24%(Verified 06/21/2024)
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Credit Score Range
650 - 850
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Loan Term (Months)
Up to 72
Number of Reviews
Lexus Financial Services Auto Loan Review
Lexus Financial Services Auto Loan is offered by Lexus Financial Services, a financial services company founded in 1980 and based in Elmhurst, IL. Lexus Financial services are available in 49 states and Washington, DC.
Lexus Financial services FAQ
How much can you borrow via Lexus Financial services?
Lexus Financial services loan amounts start at $10,000 and go up to $100,000.
What APR does Lexus Financial services offer on its car loans?
Lexus Financial services offers a fixed apr car loan product that ranges from 0.9% APR up to 24% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with Lexus Financial services?
Lexus Financial services has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.
Does Lexus Financial services charge an origination fee?
Yes, Lexus Financial services may charge a loan origination fee .
Does Lexus Financial services charge a late fee?
Yes, Lexus Financial services charges borrowers with a late payment penatly fee
Does Lexus Financial services charge prepayment fees?
No, Lexus Financial services will not charge you a fee for paying your loan early. Whenever possible choose lenders like Lexus Financial services that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my Lexus Financial services loan?
Yes, you can. Lexus Financial services does not charge a prepayment fee, so you can save money by paying your car loan early.
What do you need to qualify for Lexus Financial Services Auto Loan?
Applicants with a credit score of at least 650 and up to 850 may be eligible for Lexus Financial Services Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Lexus Financial Services Auto Loan does not have or does not disclose a minimum annual income eligibility requirement.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan via Lexus Financial services?
Lexus Financial services will typically fund the car loan within 7 business days of approval.Does Lexus Financial Services Auto Loan report your account activity to credit bureaus?
Yes, Lexus Financial Services Auto Loan reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Lexus Financial Services perform a hard credit pull?
Yes, Lexus Financial services performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Lexus Financial Services a legit company?
Lexus Financial Services was founded in 1980, it is a well-established company that has been in business for 46 years. Lexus Financial Services Auto Loan is strongly not recommended by SuperMoney community users.
Lexus Financial Services Auto Loan Disclosure: "Pricing and terms of any finance or lease transaction will be agreed upon by you and your dealer. Many variables, including current market conditions, your credit history, and down payment, will affect your terms including your monthly payment."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Lexus Financial services
Message from our editor
What we love about Lexus Financial
Lexus Financial offers loans for both new and certified used vehicles. It offers reasonable interest rates and customizable loan terms. For example, you can set your loan term to be as long as 72 months, giving you more time to pay off your loan and lowering your monthly payment. Lexus’ L/Certified program involves a 161-point inspection and adds a warranty and roadside assistance package to the car so you can feel confident that your vehicle will be in top condition, even though it is used.
What could Lexus Financial do better?
The obvious drawback of working with Lexus Financial is that it only finances Lexus vehicles. If you want to get a car from a different automaker, Lexus Financial won’t help you. The company also only finances new and L/Certified cars so you’ll have to pay the premium to buy a certified used vehicle as compared to a non-certified used car.
The company will also place restrictions on the auto insurance you can purchase. You must have an auto insurance plan to get financing through Lexus Financial and the policy must meet requirements, such as having a deductible no larger than $1,000. You also have to purchase damage coverage for the car’s full value.
Lexus Financial ‘s backstory
Lexus is a luxury vehicle division of the Japanese automaker Toyota and its cars are among Japan’s best-selling premium vehicles. It was founded in 1989. Lexus financial, part of Toyota financial, operates in more than 30 regions, helping customers finance their vehicle purchase.
The Verdict
If you know that you want to buy a Lexus, there’s little reason not to get a quote from Lexus Financial. You may be able to get a great deal. If you’re less certain about the type of car that you want and plan to shop around, look for a different lender.