Lexus Finance

[flookyk]

Has the interest rate on Finance with Lexus really jumped up this high?

I bought my new RX on 30th September at 2.9% and was informed that I left it till the next day the rate was going up to 3.9%

Looking at the rates for the Finance deals now the lowest I can see is 8.9% with others at 9.9% and even 10.9%

 

 

 

 

 

 

[Boxbrownie]

Don’t doubt it the way the base rate is going.

 

We’ll be paying the real going rate for motoring soon 😂

[Harrier Man]

Vehicle manufacturers (or their finance divisions) have always set their own rates. There can be different rates on different models depending on those they wish to push. For example, they often offer 0% finance on certain models. Of course, international financial market conditions also play a part.

In February this year, Lexus were offering 4.9% on the NX but with the new RX models coming soon, older RX models were, for a time being offered at a lower rate. Recently, all rates have gone up because Lexus have a waiting list for most models and the base rate has risen significantly. It's just market forces at work.

[John Walker]

Lexus always had better rates than other, for a new RX they even had under 2% at some point so you are lucky with yours. 
 

Rates going up but car prices not going down (as you would expect) 

[ALAW]

On 12/5/2022 at 8:47 PM, flookyk said:

Has the interest rate on Finance with Lexus really jumped up this high?

I bought my new RX on 30th September at 2.9% and was informed that I left it till the next day the rate was going up to 3.9%

Looking at the rates for the Finance deals now the lowest I can see is 8.9% with others at 9.9% and even 10.9%

 

 

 

 

 

 

I just mentioned this in another thread Keith. The price of my car has shot up dramatically as well. I was surprised actually how much finance APR has increased. I had a look at the web on Fri evening another observation I made was that they are not taking any orders for the NX only the plug in one. Make of that what you will.