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Financing an NX through Lexus Financial

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Old 05-21-15, 01:08 PM   #1
BriSmi
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Default Financing an NX through Lexus Financial

What kinds of APR are you all getting/hearing through Lexus Financial? I know they aren't running any specials on the NX, but I'm hearing some inconsistent stories - especially based on top-tier credit.

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Old 05-21-15, 01:16 PM   #2
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standard rate -1% for repeat client, - 0.5% per x amount of stacked security deposits + first month payment waived. I got it at 0.9%. Savings on interest payment more than make up for the pittance you would make as interest in a bank account for the security deposit.

Make sure they specify "Security deposit" and not down payment as DP is lost of the car is totalled. Security Deposit is refunded when the current residual is cleared either by way of insurance payout or return of the car at end of term.
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Old 05-21-15, 01:41 PM   #3
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Just to clarify, my question is about purchase APR - not leasing rates.
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Old 05-21-15, 01:54 PM   #4
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I got my financing via PNC Bank. They had better rates than Lexus. I had a deal set up with PNC and then the dealer was able to get me another 1/2 percent off with PNC.
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Old 05-21-15, 03:24 PM   #5
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They played around with me and the APR. I wanted to finance for 72 months and they offered me 3.9 at first then 5.9 when I was getting ready to sign. I put the pen down at that point and had to have a discussion and I was able to back them down to 4.9.

I just don't get how they can jerk you around with the APR like that.
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Old 05-21-15, 03:28 PM   #6
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Quote:
Originally Posted by tresmith00 View Post
They played around with me and the APR. I wanted to finance for 72 months and they offered me 3.9 at first then 5.9 when I was getting ready to sign. I put the pen down at that point and had to have a discussion and I was able to back them down to 4.9.

I just don't get how they can jerk you around with the APR like that.
You gave them the chance to....
When you didn't get the 3.9,you should have walked.
They won with all their BS they told you....
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Old 05-22-15, 05:31 AM   #7
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Quote:
Originally Posted by Joeb427 View Post
You gave them the chance to....
When you didn't get the 3.9,you should have walked.
They won with all their BS they told you....
I agree. I am around 2.3% for 72 months via PNC. AAA uses Ally bank that has similar rates.
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Old 05-22-15, 10:53 AM   #8
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The best rate lexus financial told me was 2.9% for 48 months which is the same as I had on my IS. They said there were no promotional rates on the nx at this time. Bla bla bla. I have locked in 1.59% for 48 months with my credit union so of course i will go with them.
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Old 05-22-15, 07:29 PM   #9
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My credit union offers 1.69% for 60 months. When I showed up to pick up my car, they had me down for 4.9% or something obnoxious. When I got to the finance guy, I told him I'd be going with my credit union and he asked if they could "have my business" if they were to match the rate. I didn't see why not, so I took it.

A few weeks later, I get a letter from Capital One Auto Finance congratulating me on my new car. I thought it was a scam or something, but I checked into it and it's legit. It appears that Lexus Financial Services sold my loan to Capital One.

Is that normal?


I just noticed that my credit union offers an additional 0.25% rate discount if I do automatic transfer. That's ~$200 over the life of the loan... hm...

Last edited by rumpletzer; 05-22-15 at 07:34 PM..
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Old 05-22-15, 07:54 PM   #10
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Quote:
Originally Posted by rumpletzer View Post
My credit union offers 1.69% for 60 months. When I showed up to pick up my car, they had me down for 4.9% or something obnoxious. When I got to the finance guy, I told him I'd be going with my credit union and he asked if they could "have my business" if they were to match the rate. I didn't see why not, so I took it.

A few weeks later, I get a letter from Capital One Auto Finance congratulating me on my new car. I thought it was a scam or something, but I checked into it and it's legit. It appears that Lexus Financial Services sold my loan to Capital One.

Is that normal?


I just noticed that my credit union offers an additional 0.25% rate discount if I do automatic transfer. That's ~$200 over the life of the loan... hm...
It's a crazy industry - loans.

I know for home loans, the first company you get a loan from, if it's not Wells Fargo, it will most likely be resold to another company within 1 or 2 payments.
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