anyone know the financing rates that lexus is giving now for top tier credit?

i have been looking on bankrate.com and BofA is sitting at 2.64% on a 60 mo. loan in Los Angeles. i'm thinking this might a teaser rate though...

 

I negotiated 72 months at 1.84%. The dealership went through BofA for the loan. Make sure you do your home work and then tell them you know that the market is at X% and you need that for the deal to get done. They work with many banks including Lexus to get what you need.

This is what my local credit union is offering:
63 Months as low as 1.74%
72 Months as low as 2.54%
84 Months as low as 3.84%

 

Pentagon Federal Credit Union: any term at 1.49%. Anyone can qualify to be a member, not just military personnel. Just go to their page, click on Join on top of the page. It's going to ask you how you're eligible. As soon as you select "None of the above" from the list shown, it offers you two options to qualify that include donating $15 or $20 to one of the two military charities. The whole process takes minutes and you qualify for the best auto loan and home equity loan rates in the INDUSTRY!

 

now this is quality advice!!! good looking out

 

Plus 1 on PenFed credit Union. Lexus could not match that rate but still went with Lexus for the 1500 off credit. Unfortunately guy stated had to stay with Lexus Fin for three months to get the credit. No beggie cause Penfed refinance rate is the same 1.49%

 

pen fed gives 1.49 although I went with USAA because I already had them for insurance and they have been really good to me. Figured they could have my business even though they gave me 2.19%

 

what happens if you just paid the lexus fin loan early? is it written in the contract that you can't pay it off early or you get penalized?

 

You can pay it off early without penalty. I did.

 

good to know. my plan was to get the best out the door price. whether that is through lexus financing or outside it really doesn't matter. then refi with a lower interest loan if need be.

thanks for the help

 

another question...

when you refinance an auto loan, is it a pain in the *** to change titles? does it happen automatically or do you have to do a lot of legwork

 

I did this for another car a couple months ago. I did it on a sunday and they fedex the check to me the next day. Sign the ck and took it to the dealer. It was super easy.

 

I did 1.9% @ 36 months for wife's 2013-RX350 through Lexus Financial and received $ 1000 incentive by doing with Lexus. Finnace person was writing at 60 mos but i mentioned wanted 36 mo term , which i had already calculated away from dealership. She said wasn't problem and redid paperwork. As most are aware the longer term you do the more interest you will be paying, IN ALSO first 12-24 mos you will pay a bigger portion of amount. If I carried it out to 36 mos ( which I wont ) would still be only $ 710.00...not bad on 49k veh , financing total of25k . . Most of all if you have maintained good credit you should be able to get great rate . Lastly FWIW may need to rethink purchase if you are looking at 72 or 84 month term , but if it makes sense to an individual do the deal and enjoy the ride. !!

 

Penfed also has a special deal if you use their online car buying service

0.49% APR**for 48 months
0.99% APR**for 60 months

https://www.penfed.org/PenFed-Car-Bu...tPages-208x173

...but may be better off negotiating best deal yourself?

 

The best advice I can give is to never borrow money to buy a car.

Never borrow for anything...well, maybe a house.

 

That's your opinion, which is based on the wisdom of the 80s interest rates, and this approach works well for maybe 0.00001% of the general population. For the rest of us, paying the ridiculously low interest rates we face these days is great way to smooth life-time consumption of goods to enjoy things before we die.