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  Lexus Financial Services Auto Loan

Lexus Financial Services Auto Loan

in Auto Loans from Lexus Financial Services

Unaffiliated

Lexus Financial Services Auto Loan

Unaffiliated

in Auto Loans from Lexus Financial Services

SuperMoney Net Recommendation Score -85

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -85, equating to 1.3 on a 5 point rating scale.

-85

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

1 user recommends
1 user is unsure
18 users don't recommend
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Highlights
Community Rating Strongly not recommended
Credit Score Range 650 - 850
Loan Amount $10,000 - $100,000
APR  (Fixed APR) 0.9% - 24%
Loan Term (Months) Up to 72 months
Number of Reviews 20

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).

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. 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 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 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.

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

Lexus Financial Services (LFS) is the finance brand for Lexus in the United States, offering retail auto financing and leasing through participating dealers and Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. LFS also offers vehicle and payment protection products through participating dealers and Toyota Motor Insurance Services (TMIS) and its subsidiaries.

We have lots of options. Let us help find the right program for you. The last thing you want to worry about when getting into your next Lexus are the financial details. We offer a variety of different finance and lease offers. Credit needs are as unique as each person who needs it. Whether you're looking to purchase or to lease, whether you have a long credit history or brief, we'll work with you to help get you the contract that's right for you.

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.

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About Lexus Financial Services Auto Loan

Availability

  Available in 49 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Application Fee $0
No Prepayment Fee
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Maximum Vehicle Age 4
Military Status
  • Active Duty Military
  • Non-Military
Minimum Age 18
Vehicle Type Auto
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
Credit Score Range 650 - 850
Approval Speed 24 hours
Credit Bureau Reporting
  • Other
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Loan Amount $10,000 - $100,000
APR (Fixed APR) 0.9% - 24%
Loan Term Up to 72 months

Lexus Financial Services Auto Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -85, equating to 1.3 on a 5 point rating scale.

-85

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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