massalsa

I can get the same rate thru my bank as Lexus credit (2.49 over 48 mo). The dealership is encouraging me to use Lexus credit as they occasionally have special deals or something along those lines...thoughts from you grizzled Lexus veterans please!!!

Thanks!

massalsa

Joeb427

iTrader: (1)

The dealer wants you to use Toyota Financial because they make a couple of hundred dollars writing up your loan.

srgonu

I am offered 2.49 by my bank, but lexus offered me 1.79

uicandrew

I use the lexus credit card to get 5% back. I didn't charge the whole amount. My dealership limited it to $2000. Another dealership limited it to $5000.

Mike728

I don't think rates are set in stone. I was going to finance through my CU, but Lexus beat it by .4%. They originally said they would match it. I got the rate at 1.5%.

massalsa

Good info so far...makes perfect sense on the couple hundred to do the loan...

srgonu & Mike728, how long ago did you guys get your car (or Lexus car loan)?

Thanks all!

Mike728

I got mine last month. Just to clarify, my comment was misleading, the finance guy got me a deal with a local bank and not through Lexus Credit. I just mentioned this so you know they have other options. I actually never even heard of Lexus Credit.

srgonu

I got it on 20th this month

coach1

I cut such a skinny deal I had no problem with Toyota/Lexus Finance. They did me a huge favor getting me out of my Audi and discounted the Lexus $3800, that the 2.99% interest was mice nuts. I have a credit score of 825. I plan to scrape the balance together in the next couple of months so the cost will be less than $100.

Checking new car loan rates recently, they ranged from 2.5 - 3.5%, not to say there isn't cheaper money available. What upsets me is the bank pays me a whopping ( .4% ) I can find more loose change in the street than the interest my bank pays on my savings.

>>>>correction>>>>> .1%

Joeb427

iTrader: (1)

Penfed 1.74%

https://www.penfed.org/New-Auto-Loan/

danolo

That is a nice rate, but I was lucky enough to use their Car Buying Program and got 0.74% for 48 mo. Or 1.24% for 60 mo.

Joeb427

iTrader: (1)

I saw that on their site but didn't know how many dealers are in that program and where.
0.74% or 1.24% are great rates.
A relative of mine just bought a used car and used PenFed and got the 1.74% which is great on a used vehicle.