The latest in car loans news
Lenders getting increasingly personal with their car loans
A growing number of car loan lenders are offering personalised interest rates.
Lexus is the luxury division of Japanese automobile manufacturer Toyota. In 1983, Toyota’s chairman, Eiji Toyoda, issued a challenge to build the greatest car in the world; in 1989, the Lexus LS 400 was born.
Lexus is Japan’s largest-selling make of premium cars, and is one of Japan’s top 10 biggest overall brands in terms of global value, with a brand value of US$9.5 billion ($13.0 billion).
Lexus cars are marketed in more than 70 countries and territories worldwide.
About Lexus cars
Lexus offers a range of luxury cars, including sedan, SUV, convertible and coupé models.
- IS 300 ($66,697): a sedan all-wheel-drive with paddle shift transmissions, a 10.3-inch multimedia display, touch-based climate controls and Lexus Enform
- RC 300 AWD ($83,431): a coupé all-wheel-drive six-speed shiftable automatic with turbo-charged V6 powered engine and 10.3-inch multimedia display
- UX 250h AWD ($72,117): a hybrid SUV with moonroof, head-up display, smart-key card and all-wheel drive
- RX 300 ($82,753): a luxury mid-size SUV with 3.0L V6 powered engine and four-speed automatic transmission, 16-inch alloy wheels, fog-lights and automatic climate control
- RC F ($163,126): a racing coupé with weight saving carbon fibre exterior, 5.0L V8 petrol engine with direct injection and dual VVT-i, rear-wheel drive, adaptive variable suspension, 10.3-inch multimedia screen and Lexus remote touch-pad controller
Lexus Australia had a record-breaking year in 2018. In the first four months of the year, they sold more cars than in the same period of any previous year: 3,026 cars between January and April alone.
Lexus are considered, across the board, to be highly reliable luxury cars. This is attributed to their parent-brand being Toyota (a favourite car company of Australians). Toyota is renowned for manufacturing highly dependable cars, so naturally their elite models also reflect their reputation.
Lexus’ slogan is “Engineering the impossible; Pursuit of perfection” and Lexus take it very seriously. After the release of the LS 400, Lexus recalled 8,000 cars for a 20-day fine-tuning operation, based on just two customer complaints.
Lexus cars are targeted towards an elite class looking for ultimate luxury in their vehicles. Lexus’ main competitors are other high-end luxury car brands such as BMW, Audi and Porsche.
How can I get a Lexus car loan?
Lexus car financing is conveniently available directly through your Lexus dealership. However, the rates and fees offered in-house may be higher than if you went to an independent car loan lender.
Financing options available for Lexus cars:
A secured car loan is the most common type of car finance. Secured car finance consists of a loan that is secured by your vehicle. This means that if you default on your payments, you could potentially lose your car.
When looking for car finance, you have the option to:
How much does a Lexus car loan cost?
Here are the approximate running costs for three different Lexus models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|Lexus IS 300||Compact prestige||78.4||$226.03|
|Lexus RC 300||Medium prestige||99.2||$286.05|
|Lexus UX 250h||Compact prestige||78.4||$226.03|
Here’s how much a five-year loan will cost for three different Peugeot models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|
|Lexus IS 300||$66,697||
|Lexus RC 300||$83,431||$96,777||$101,501||$106,360|
|Lexus UX 250h||$72,117||$83,653||$87,736||$91,936|