Lexus Financial Services

Lexus Financial Services Reviews

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Overall Rating2.9 out of 5
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Lexus Financial Services Reviews

ConsumerAffairs has collected 116 reviews and 295 ratings.

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Customer ServicePricePunctuality & SpeedStaff

Reviewed Sept. 17, 2023

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 ...

Stay away. The agents claimed they could do nothing about this but then I noticed after this kerfuffle, they added a link on the horrible IT application for Lexus Financial services for a principal payment. All they are interested in is damaging people's credit. I am a savvy user of my credit, and what they tried to get away with was criminal. I forced them to remove the negative information from my report and I dumped the car because I did not want to deal with them anymore. Garbage service.

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Customer ServiceStaff

Reviewed June 23, 2023

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 do not understand how LF has not yet processed my payment and sent me title when I paid Lexus over 2 weeks ago. I should have title to the car by now, or the account should at least reflect payment received. It's incredibly frustrating. It should have been handled more efficiently and, at the very least, LF representatives should have consistent, accurate, detailed (as in, up-to-date) information to share with me. I would not recommend Lexus Financial to anyone. I have wasted so much of my time and still have zero resolution.

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    Reviewed Dec. 2, 2022

    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?

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    Customer Service

    Reviewed Aug. 2, 2022

    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.

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    Reviewed July 28, 2022

    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.

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    Customer Service

    Reviewed May 26, 2022

    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.

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    Customer ServicePricePunctuality & SpeedStaff

    Reviewed April 1, 2022

    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.

    Well a year and half went by and finally on my last service I was told that service advisor was no longer there. So when I inquired to the new service advisor I was told that the order was there but it was never place and that he never submit a claim either for the vehicle dash port. This obviously made me very angry. I asked to speak to the service manager in which he assure me that Lexus most likely will grant the one-time courtesy replacement on my car. I was told to wait and when the dash port arrive they will let me know. Well dash port arrived, I had a call from Lexus Palm Beach to bring my vehicle for the replacement. When I got there I was told by the new service advisor that I had great offer coming my way.

    Lexus USA agree to pay a portion of the dash port. The sticker price $16,593.20 cents but Lexus USA was willing to paid everything except $2500 dollars of that and that this was an amazing deal according to him! Well I felt betrayed especially since I was told by the manager of dealer Lexus (Autonation) Palm beach that this was going to be taking care for me. I called Lexus America (Toyota US) to report this issue. I explained the situation and I was told they would look into this situation.

    They had all the documentation and they still decided it not to replace my dash port. So many excuses from them at the end of the day, I was lie flat out on my face by the dealership Lexus Palm Beach (Autonation) and Lexus USA (Toyota) wouldn’t do anything about it. No, what it used to be what happen to the fantastic customer service from Lexus? So just because the cars and parts are more expensive today is that why you won’t allow my dash port to be replace for free as promised?

    It’s embarrassing that Lexus allows a dealer to misrepresent them and not do anything about it. Even worse for Lexus (Toyota) to not honor this replacement after their dealership told me otherwise. This is my third Lexus LS and my wife owns a LX570 previously a GX460 and a Landcruiser. I think we are done with Toyota, their word doesn’t mean anything anymore and rather than take care your customers you are quickly making them go elsewhere. Do you remember why your customers buy your cars in the first place? No problem I got the message no more Lexus or Toyota for our family. Maybe if the cars or parts weren’t so expensive you wouldn’t be trying to do this to your loyal customers! Shame on you Lexus / Toyota. “Toyota no going places.”

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    Contract & TermsStaff

    Reviewed March 22, 2022

    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.

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    Reviewed March 15, 2022

    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.

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    Punctuality & Speed

    Reviewed July 29, 2021

    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.

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