If you're planning to finance a Lexus, now might be the best time to do so.
It goes without saying that financing a car, let alone, a luxury vehicle isn't the best option out there because of interest rates. Lexus, however, wants to lure you into buying its vehicles through financing this month with an irresistible offer that spans nationwide.
In a report by CarsDirect, dealers are now offering interest-free financing for 60 months on any 2020 and 2019 model year Lexus. This is a huge improvement from the previous 0.9 percent APR. With this offer, a $50,000 Lexus RX can be availed for $833/month before taxes and fees, while an $80,000 Lexus LS 500 will save you up to $1,800 in interest over five years.
Gallery: 2020 Lexus RX 350: First Drive
In contrast, CarsDirect cited that a $50,000 Toyota Highlander, without any special APR financing currently on offer, can result in up to $6,820 in interest with $947 payment per month. This is with a 5.15 percent non-promotional interest rate.
CarsDirect also found out that a similar zero-percent APR is currently on offer for financing Lexus' certified pre-owned vehicles. This offer is available for a 36-month financing term, which, according to the website, is the lowest rate on record for used Lexus cars.
CarsDirect has clarified that the mentioned zero-percent APR financing is a nationwide offering, which will end on June 1, 2020. Those who are looking to buy a Lexus through financing could very well take advantage of this promo until it lasts.
Of note, 72-month financing of a Lexus vehicle would yield 1.9 percent APR on several parts of the United States – except for the Northeast, which enjoys a 0.9 percent APR for the same financing term.