A luxury car loan can be a simple bank product or a custom deal. Which one you need depends mostly on the price of the car and how the lender sees it.
What luxury auto loans are
Any loan on a high-value car, from a Range Rover to a Rolls-Royce Cullinan to a 911 Turbo S. Once the price gets well into six figures, mainstream lenders start shortening terms or asking for more down. That's where a specialist comes in.
How they differ from standard car financing
- Bigger loan amounts. Our minimum amount financed is $80,000, and we go up to $1M+.
- Longer amortizations. Rizz Lending loans spread monthly payments over 120, 180 or 240 months. They are not 20-year loans: each loan matures at 84 months, and at that point the remaining balance (a balloon payment) is due. The borrower can pay it off, apply to refinance it or sell the car. There is no prepayment penalty.
- Underwriting the car. A specialist prices the specific car, including its spec and history.
What you need to qualify
- Credit: typically a 700+ FICO.
- Down payment: at least 20%, and up to 40% depending on the car, the borrower and the loan amount.
- Luxury SUVs such as the Cullinan, Urus, G-Class, Bentayga and Range Rover typically need at least 30% down because they depreciate faster.
- Amount financed: $80,000 minimum, up to $1M+.
- Use: personal use only. No rentals, Turo, ride-share or livery.
Full details are on our eligibility page.
Loan or lease?
Lease if you want a new car every few years and drive limited miles. Finance if you want to own the car, customize it or drive it without a mileage cap. Already leasing a car you want to keep? We do lease buyouts.
Where to borrow
The brand's captive lender can be a good fit on a new car with a promotional rate. Banks and credit unions work for strong borrowers on mainstream luxury models. For exotics, high balances, private-party sales and longer amortizations, a specialist like us is usually the better fit.
Pitfalls to avoid
- Comparing only the monthly payment.
- Missing the maturity date and balloon on a long amortization.
- Rolling negative equity from your old car into the new loan.
- Signing for add-ons you didn't ask for.
Get started
Try your numbers on the Borrow Smart calculator. Check your options with a soft credit pull on our application. It won't affect your score, and approvals typically come back within 24 hours. Prefer to talk? Call 801-880-9955.