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Current new Lexus Financing rates?

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Old 05-21-09, 10:21 AM   #1
bigbwb
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Default Current new Lexus Financing rates?

Hello,

Recently I had a opportunity to pick up a 2007 IS350 from my local dealer. The car came from an auction and after inspecting it earlier in the week, I was very dissapointed in the condition......long story short, I found a brand new 2008 for a few grand more

Deatails,
2008 IS350 SGM with grey interior, sport pkg, nav, 18"s, 160miles, rear spolier, for $35K.

This leads me to my question, what are some good rates currently going for on new cars for 5 year loans(I also have near perfect credit)?

I believe the dealer mentioned it was through Toyota/Lexus credit. I know Lexus is now offering 4.9% on CPO, I wonder if they can match this for new cars too?

Thanks for the help!


I pick it up tomorrow afternoon!

Brandon
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Old 05-21-09, 10:31 AM   #2
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Talk to your Lexus dealer. They will have to know your exact FICO score which they will pull when you apply. Also check around with your local banks or Credit Union.
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Old 05-21-09, 10:44 AM   #3
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you can get as low as 2.9% on approved credit for brand new 2009's right now and as low as 2.9% for the CPO's as well until June 1st
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Old 05-21-09, 01:16 PM   #4
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Joeker,

Is the 2.9% figure for loans of less than 5 years? That seems like an awesome rate for a 5 yr loan. Does lexus state anywhere whether these rates apply only to 2009's or would they apply to a brand new 2008 like i bought?

I am trying to gather the info tonight becuase I will be talking to the finance manager in the morning before I head out tomorrow afternoon to pick it up.

Thanks,

Brandon
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Old 05-21-09, 01:29 PM   #5
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According to edmunds it's for 09 only.
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Old 05-21-09, 01:30 PM   #6
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Check with a credit union or try lendingtree.com
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Old 05-21-09, 01:42 PM   #7
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Thanks. I will look into lending tree and what rates they offer. Thats too bad lexus is not offering any special rates on 08's......bummer.

Anyone else buy a 08 recently and what rates did you get on a 5 yr loan?
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Old 05-21-09, 02:47 PM   #8
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the 2.9% on approved credit is for 5 years, but if you do pay it off before 5 years there is no penalty fee. not so sure on the CPO's but i'm assuming if anything, it's for at least 3 years.
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Old 05-21-09, 03:27 PM   #9
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At 160 miles, couldn't/shouldn't they be selling it as pre-owned? I've seen many SoCal dealers advertise said miles as "used."
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Old 05-21-09, 03:56 PM   #10
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They can still sell it as new as long as it has never been titled
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Old 05-21-09, 04:34 PM   #11
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I am thinking the current financing deals are for 09's. As for the car having 160 miles, its never been titled so technically its new but was maybe driven for a test drive or two or from one dealer to another.

I really hope I can get a rate for 5 years at around 5.5% or less would be great.
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Old 05-23-09, 05:57 AM   #12
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I just pulled my is250 out of the dealer on the 16th of may, i got sick credit and got 3.9%.
I think that is for is and gs, im not 100% positive. but it may also differ from state to state????
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Old 05-23-09, 06:27 AM   #13
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I picked my IS350 up last night!!!!!

Very exciting, it was perfectly mint condition and I closed on 5.95% for 5 years, the best they could find.

Thanks guys,
B
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Old 05-23-09, 12:26 PM   #14
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Did you even check any credit unions or lending tree before buying?
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