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Lexus Financial Services Auto Refinance Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
9 Customer Comments & Reviews - see all comments
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Lexus Financial Services is Toyota's auto loan branch for Lexus, their line of luxury vehicles. Based in Texas, the company has been financing Lexus purchases and leases with flexible payment options for over two decades. They feature a variety of educational resources on their webpage to help potential customers choose the Lexus that's right for their needs and budget.

How is Lexus Financial Services rated?

Breakdown

4.0/5
Loan Details
4.0/5
Customer Experience

Overall Rating: 4 / 5 (Very good)

Lexus Financial Services should definitely be considered as an option, when looking into purchasing a Lexus. They offer a wide variety of financing plans for both purchase and leases, and can offer competitive rates to qualifying borrowers. Bear in mind that their online application is for reference purposes only, and not necessarily an accurate representation of what you may qualify for.

Auto Loans & Refinancing

Loan Details - 4 / 5

Lexus Financial Services offers a variety of financing plans for both purchase and leases, with some tailored to recent college graduates, military, or repeat customers. They also have a preferred option finance plan, with low monthly payments, but a balloon lump sum at the end of the contract term. Their lease plans also include a business option.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Term Length
24 months
Max Term Length
48 months

Loan Qualifications

Qualification - 3.5 / 5

Lexus Financial Services requires the following information in order to apply for one of their Lexus loans: name, address, housing status, and social security number, as well as education, employment, and income. Though they don't specify the limits or minimums for age or income, as Lexus is a luxury brand, one can safely assume that their requirements are sure to be stringent.

Borrower Qualifications

Verification / Documents Required
Social Security Number
Driver's License / Photo ID
Employment Information / Pay Stubs
Proof of Citizenship / Residence

Application & Service

Customer Experience - 4 / 5

Lexus Financial Services' application process is different from other lenders in that customers begin by choosing an automobile and inputting their zip code, and only then are they directed to an application form. Average approval and funding times aren't specified. Their online application tool's results can be misleading, as it assumes that potential borrowers have excellent credit histories. Customers are better served by applying at a local Lexus dealership, for an accurate quote.
Benefits/ Features
Online Rates / Application

Lexus Financial Services Reputation & Reviews

Reputation - 4 / 5

Lexus Financial Services is a division of Toyota, and therefore have no presence of their own on independent consumer review websites such as the Better Business Bureau and TrustPilot. The Toyota Motor Credit Corporation, however, is not BBB-accredited, and has an abysmal F rating with that organization.
Date Collected
2017-12-26

Contact & Additional Information

Lender Type
Lender
Homepage URL
Company Phone
(310) 468-1310
Headquarters Address
19001 South Western Avenue, Torrance, CA, 90509

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9 Customer Comments & Reviews

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gerardbangalore
11/19/2024
i moved from CA to NJ 6 weeks and NJ DMV needs the original title sent to them NOT me - i have made several calls to them and each time i get a different answer and the last lady told that their title system is hard to read and the title has not been sent to NJ DMV as the previous reps told me Horrible experience and sad cause lexus cars and service are excellent


doctorcheharris
1/13/2024
There is lack of transparency of payment amount due. I was shocked to still see a lingering balance after I thought I paid my car off. These people don’t work with you and make it look like it is the customer trying to get over when in fact they reveal hidden fees that are not revealed. I would not recommend.


Gene T
1/9/2024
I filed a bankruptcy, did not include them, now they won' send me a bill, only communicate if I call them. I don't know my balance until I call. Payments have all been on time for 30 months, who ever made that rule is one stupid insensitive individual. I do not recommend them.


doctorcheharris
12/28/2023
The balance on the website, phone and app does not reflect the total amount due. I learned the hard way. After I thought I paid the car off, I was surprised to see an ongoing balance. I was told that I still owed about 60 bucks. I told them that I never knew or saw that amount via telephone or by app. The representative then stated it would have been best to go to their website as that gives the most up-to-date payment information. I reassured them that I also checked out the website and all three sources (app, phone, and website) had the same balance. The representative was not helpful and did nothing to accommodate. Lexus Finance is the worst. A Lexus is a nice car, but I would avoid... Read More


pyramus47
2/1/2023
Just got a new Lexus on 12/27/22. I am unable to create a payment method on their absurd website for the past two weeks. I tried calling them last week to pay over the phone - but guess what? That system was down too. I tried calling them today and more guess what?! Their main number is down. This company is horrible. Lease through your credit union or bank and don't use them.


upyourgrowth
8/21/2019
This is my second car from Lexus, when I turned my car in more than a year ago and just got a call from a collection agency that I owe $700 for the end of lease penalty. I had no contact from Lexus or any mailed documents or bills. When I called they could not help with anything and just kept telling me to call their business partner , which is the collection agency. Considering another brand I spend 50K for this car, I guess it is MBZ time


Butch B
8/16/2019
I have been waiting for almost two months for a letter of acceptance from Lexus to my insurance company. After waiting on hold for 26 minutes, I was told they’re very busy and they review claims in the order they are received.


H
Howard N
1/7/2019
LFS is the worst company that I ever have to deal with! Their customer service is totally opposite with the product reputation, my Lexus lease expired 3 months ago and I am still waiting for my refundable security deposit back despite numerous phone calls. I will not purchase a Lexus car based on my experience.


D
Dariusz
12/31/2018
Absolutely the worst treatment I received for the money I have spend on that lease. Over 30 grands. I will never lease from Lexus again in my life. I was ripped of in every aspect. Lexus financial horrible customer service. Every customer representative tell you something else.



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