IS - 2nd Gen (2006-2013) Discussion about the 2006+ model IS models

What Happens After Loan Pay-off (Lexus Financial)

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Old 06-15-09, 08:04 PM
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dong888
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Originally Posted by XprincoX
On a side note does anyone know if Lexus financial charges a fee/fine for paying off your loan early?
No.

Most of the car loan should have no prepayment penalty / fees.
Old 06-15-09, 08:08 PM
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Originally Posted by sandwiches
After you get the title, you should go to the DMV to have the car retitled in your name. It's been almost 2 years and I still haven't done this
I think when DMV sent you the title, it should be under your name already.

One side note, on the car fax report, it will state that the car has 2 owners (lender and you). Just an FYI in case some of you wants to sell the car later and it should not be a surprise and you can explain it to the buyer.
Old 06-15-09, 08:17 PM
  #18  
kensteele
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in ks, we have switch over to electronic (paperless) titles....etitles.

pls check the rules in your state. i believe you are going to have to do some add'l work after your payoff, you need to get a lien release and then take your title to the state to full out the form and pay the fee....again.
Old 06-16-09, 03:25 PM
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Originally Posted by llamaboiz
yea see i didn't wanna go thru the whole hassle of 'waiting for the title' so i took out my personal checkbook and just wrote for the full amount
but with a low APR you would have come out ahead by putting the money into an account and paying it monthly, instead of a lump sum
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