What Factors Affect Lexus Financing Rates?

Many variables affect your Lexus financing rates, and it helps to know them upfront. Environmental and market factors, in addition to your own financing details, will influence these rates. That’s why the Woodfield Lexus financing team has highlighted the factors that impact your financing terms.

Model and Year

The basis of your Lexus financing rates is the model and year it was made. This primarily determines the value of the vehicle and will set the foundation for your financing costs.

Credit Score

In order to get favorable financing rates, you’ll need a solid credit score so we know you’re a credible buyer. We’ll check your credit history and reports to see whether you’re responsible about paying off your debts. If you’re looking for better rates, consider increasing your credit score or disputing false errors in your report before applying.

Term Lengths

The length of your financing term will significantly change your monthly financing rates. Longer financing terms will reduce your monthly costs, although you will likely pay more in interest over time. Consult our financing experts to determine your monthly rates on a specific model over a specific repayment length.

Model Condition

If you’re financing a pre-owned Lexus model, its condition influences how much you’ll pay while financing it. Factors like higher mileage or an accident history can negatively impact your financing rates.

Market Conditions

Finally, the vehicle market can also shape vehicle financing rates depending on which models are in demand or if a new car is coming out. This doesn’t always make a huge impact, but it can affect your financing rates.

Compare Lexus Financing Rates in Schaumburg, IL

Want to compare Lexus financing rates with our financing and leasing experts? Contact Woodfield Lexus today to schedule an appointment or compare rates on a specific model.