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Lexus Financial Services auto loans review

Its preapproval offer is good for up to 30 days at any authorized dealership.

  • Best for loyal Lexus customers, college grads or military members looking for discounts.
  • Pick something else if you're not looking to negotiate rates at the dealership.
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Product NameLexus Financial Services
Loan term2 to 5 years
Financing typesPurchase,Leasing
Eligible car typesNew,Certified Preowned
Cosigners allowedYes

Pros and cons


  • Discounts for college grads, military members and repeat customers
  • Preapproval can be used at any Lexus dealership
  • Mobile app makes for easy repayments


  • No discount for first responders
  • APR and fees negotiated at the dealership
  • Poor Better Business Bureau rating

Lexus Financial Services special discounts

  • Military: Yes
  • College grad: Yes
  • Repeat customers: Yes
  • First responders: No
  • Accessibility equipment: No

Lexus Financial Services reviews and complaints

BBB accredited Yes
BBB rating A-
BBB customer reviews 1.1 out of 5 stars, based on 39 customer reviews
BBB customer complaints 604 customer complaints
App Store Score 1.7 out of 5 stars, based on 197 customer reviews
Google Play Score 3.1 out of 5 stars, based on 356 customer reviews
Customer reviews verified as of 19 October 2020

There isn’t much in the way of reviews for Lexus Financial Services online — it doesn’t even have a Trustpilot page. But there are over 600 complaints on its Better Business Bureau profile.

How to apply

Lexus has a quick online application that requires just a few simple steps:

  1. Visit the Lexus Financial Services website and click Apply for Credit.
  2. Enter your ZIP code and select the model and trim you want to purchase or lease.
  3. Enter information about yourself, including your contact details, housing situation, education, employment and income.
  4. Select a Lexus dealership and desired term, then enter your down payment and trade-in value, if applicable.
  5. Review the terms and privacy information before submitting your application.

Lexus Financial Services processes most applications within one to three business days. If approved, you’ll receive a preapproval certificate that can be used for up to 30 days at any Lexus dealership.

How do repayments work?

You can repay your car loan one of five ways:

  • One-time and recurring online payments
  • By phone
  • By mail
  • On the myLFS mobile app
  • Through Western Union Quick Collect (WUQC) or CheckFreePay

As of October 2019, Lexus doesn’t accept repayments made with debit or credit cards.

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