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 Auto Loan is available in 49 states (and Washington, DC).

How much can you borrow via Lexus Financial Services Auto Loan?

Lexus Financial Services Auto Loan auto loan amounts start at $10,000 and go up to $100,000.

What APR does Lexus Financial Services Auto Loan offer on its auto loans?

Lexus Financial Services Auto Loan offers an auto 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 loan term you can get with Lexus Financial Services Auto Loan?

Lexus Financial Services Auto Loan has auto loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does Lexus Financial Services Auto Loan charge an origination fee?

Yes, Lexus Financial Services Auto Loan may charge a loan origination fee.

Does Lexus Financial Services Auto Loan charge a late fee?

Yes, Lexus Financial Services Auto Loan charges borrowers with a late payment penatly fee

Does Lexus Financial Services Auto Loan charge prepayment fees?

No, Lexus Financial Services Auto Loan will not charge you a fee for paying your loan early. Whenever possible choose lenders like Lexus Financial Services Auto Loan 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 Auto Loan loan?

Yes, you can. Lexus Financial Services Auto Loan does not charge a prepayment fee, so you can save money by paying your auto 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 are 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. Lexus Financial Services Auto Loan only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Lexus Financial Services Auto Loan. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for an auto loan via Lexus Financial Services Auto Loan?

Lexus Financial Services Auto Loan will typically approve (or deny) an auto loan application within 24 hours and fund the loan within 7 business days of approval.

Does Lexus Financial Services Auto Loan report your account activity to credit bureaus?

Lexus Financial Services Auto Loan reports your account activity to the following credit reporting agencies:

• 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 can help improve your credit.