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?

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. Lexus Financial Services Auto Loan only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

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 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 a car loan via Lexus Financial services?

Lexus Financial services will typically approve (or deny) a car loan application within 24 hours and 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 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 may help improve your credit.