Lexus Financial Services Reviews

I purchased a car in February 2023. Unhappy with the current interest rate climate, I made several large payments to principal. 33% of loan paid off in four months but there was unapplied principal of $3000 that sat on the account for a few months. Instead of applying it properly they advanced my payment to be due eight months in advance of course so they can make their interest. There must've been an unapplied payment for the month of April, instead of taking it from the $3000, they were holding, they reported my payment as late despite having $3000 in unapplied monies on my account. I protested this and they applied it but then it placed my account into arrears and they reported me to the bureau. It took multiple phone calls and a firm letter to make them fix it ...

I paid off my lease on 6/7/2023 at the dealership because that's what Lexus Financial ("LF") finally told me is required in my state (after several LF representatives told me conflicting information). My dealership didn't send the payment until 6/15/2023. I have proof from the dealership that the payoff arrived, and was received by John, at LF on 6/16/2023. I've called everyday (except for one day), and the LF agents have been most unimpressive in that they give me inconsistent information and some of them have attitude.

I used to like Lexus and their Company. (Our Family is a Loyal Lexus/Toyota since 1982) I set up an automatic payment on Lexus Financial Services. Every month they withdraw from our business Acc (It was set under a business). I thought that was a nice and easy-to-use feature. For unknown reasons, their website didn't work, and they didn't withdraw our company's money for two months. They never called me, but once they called, I paid them right away. They reported to my credit bureau, Experian, who dropped my credit points by -139. Is that fair? I called Lexus Financial many times. All the Lexus employees said nothing they could do. Now, I can't get any loans. Any suggestion?

Horrible horrible company! I was put into collections without knowing I had a balance after I turned in my lease. And this is 2 years later. No communication from them whatsoever. They claimed to have sent me letters, but was sent to the wrong address. Never received calls either. I only received a call because collections called my family member, not even me! If they really want their money, they should’ve been more proactive than sending a letter to the wrong address. Phone call? Email? Check the DMV for an updated address? No, instead they just send you to collections without any knowledge. Like what other reviewers said, they don’t tell you anything upon returning your vehicle. I do not recommend at all leasing from this company because their financial services is just terrible. Extremely poor communications. Expect to go into collections if you work with them.

Car stopped suddenly while in the highway and did it on several occasions risking an impact from behind, and or trying to return to the highway. Also did it in several occasions in the middle of several red lights. Very dangerous vehicle to drive in this setting.

Lexus does not provide a confirmation letter of payoff. Their letter is a subject to the occurrence of certain things but there is no follow up when those occur. When verifying for credit purposes they will provide a verbal notification but nothing in writing that an account is up to date or closed. Their response is they cannot provide such confirmation. Very poor legal document or verification.

A year and a half ago I had an issue with the dash port on my 2013 Lexus Ls600HL at the time the warranty was expire. The leather was pealing from the sides. When I asked my service advisor at Lexus Palm Beach he inform me that he was going to submit the replacement for my car and that my car was eligible for the replacement. I submit the pictures and details as per his request. Every time I went back to do my routine services I would ask him about the dash port his response was always, “Ooh yeah it's on backorder. When it comes, I’ll let you know.” I figured because it was during Covid it was taking longer.

It took more than an hour times two to reach to an agent and they couldn't solve the problem which they over charged me for two months after I closed my deal with Lexus. I simply asked for a refund and stop the payment in the future and they have trouble doing that.

I’m terribly disappointed that a payment cannot be made by debit or credit card. An organization this large should have that availability for its customers. I feel it’s very prehistoric that the only option is checking or savings account.

Had an accident, Lexus sent settlement info to incorrect address; 100% their error. I discovered the issue because a flag came up on my credit reporting derogatory. When I contact Lexus, they will not even speak to me to resolve it. They sent it to collections...and that company is really pathetic. Now that they know it is a Lexus error, they will not work with me to resolve the error with Lexus - they just want to collect. So now I sit with a bad credit marker after paying every payment on time for several years...and I have a total number they state I owe, with no documentation to review. No one will help correct the error from Lexus Financial. And the same with their collection agency. I would advise not tying yourself into Lexus/Toyota Financial.