The updated 2021 Lexus IS sports sedan has been only available in the USA for a month, but it is already available with zero-percent financing at dealerships. Cars Direct breaks down the math:
This large difference in interest can lead to some big savings. Let’s take a look at the base IS which starts at $40,025 (including destination fees). With last month’s offer of 1.9% APR for 60 months, the monthly payment would equate to $700 with $1,963 in interest costs. With the new offer, there are no interest costs and the payment comes out to $667/month. That means interest-free financing leads to a much lower monthly payment and savings of $1,963 in interest over the life of the loan.
This is a notable move from Lexus, as discounting their newest offering from the onset means the brand is concerned about sales and are looking for a hot start.
(Lexus USA is currently running their December to Remember sales event, with 0% APR on the entire lineup. According to Cars Direct, current offers are based on a location in the western states and are available through November 30.)