Wed. Jun 7th, 2023

honda finances

What You Need to Know About Your Honda Finances

Our finance department is committed to making the financing process easy and hassle-free for our customers. That’s why they work extra hard to help our customers find the perfect car loan for their needs.

Whether you’re buying a new or certified pre-owned Honda, our team is here to help you every step of the way. This includes online pre-approvals and 0% financing options.

Getting Pre-Approved

Once you’ve found a Honda model you like, you can apply for pre-approval to speed up the car-buying process. Our finance gurus work with a network of financial institutions to find you a variety of budget-accommodating car loans.

You can even apply for a preapproval online, so you won’t have to visit the dealership in person. Once you’re preapproved, you’ll receive an email from the lender that includes your estimated monthly payments and interest rate.

Getting pre-approved can help you stick to a budget and know how much you can spend. It also allows you to compare interest rates and offers from dealers.

The interest rates you qualify for will depend on your credit score. Some lenders offer competitive rates for borrowers with less-than-perfect credit.

For example, Bank of America doesn’t require a minimum credit score to get an auto loan, so it’s a good choice for customers who are working on their credit scores.

A high credit score may also make you eligible for low- or 0%-APR financing deals, as well as cash rebates. Those incentives can add thousands of dollars to your vehicle’s price, so it’s worth looking into them.

Some automakers, including Honda, use low financing offers and rebates to attract customers. They can be available at different dealerships and may change monthly, so it’s a good idea to check Edmunds’ auto incentives and rebates page for current offers in your area.

Honda also has a loyalty program that lets you take advantage of special deals when you lease or buy another Honda. For example, eligible military members, retirees and veterans can save up to $500 on a new Honda with a military discount. And college graduates can earn a $500 Honda College Graduate rebate.

Buying a New Honda

If you’re looking for a new vehicle, there are many benefits to buying a Honda. These include an excellent fuel efficiency, improved safety features and that coveted “new car smell.”

See also  What Is General Finance?

There are many different types of Honda vehicles to choose from at Galpin Honda. Whether you’re interested in a sedan, SUV, hatchback or hybrid, we’ll help you find a Honda that fits your needs and budget.

When you buy a Honda, you’ll also receive peace of mind with the warranty that comes with most models. This will give you the confidence to take a long road trip without having to worry about your car breaking down.

At the same time, buying a Honda will save you money over the life of your vehicle. This is because Hondas are known for their durability and reliability. It’s also important to note that you can often get a Honda for much less than what it would cost you to buy a used car!

Another benefit to purchasing a new Honda is that it will be equipped with the latest life-saving technologies. This includes features like brake-assist, blind-spot monitoring systems, and side-curtain airbags.

Lastly, purchasing a new Honda will allow you to drive a vehicle that’s new and unblemished. This means you’ll be able to enjoy the latest technology without worrying about it being stolen or damaged.

At the same time, a new Honda will likely have more trim options available than a used car. This will allow you to customize your ride to your exact specifications. Moreover, you can always upgrade to the latest models every few years as they become available. You can also enjoy the flexibility of leasing your new Honda for a fixed-term period.

Leasing a New Honda

Leasing a new Honda is one of the easiest and most convenient ways to drive your favorite models. When you lease a Honda model, you can enjoy a low monthly payment that covers the cost of a brand-new vehicle and a full warranty for your peace of mind.

The monthly payments you pay for a Honda lease are calculated based on the vehicle’s projected depreciation during the leasing term. The lease also comes with a mileage limit, which restricts how many miles you can drive each year. If you exceed the mileage limit, you’ll be charged for each mile you exceed it.

If you decide to purchase a Honda at the end of your lease, you will have a few options, including buying it outright or making monthly payments on a loan. You’ll also pay sales tax and any other state, government or lender fees and taxes on the purchase.

See also  Subaru Motors Finance

Purchasing your Honda is a great option for those who don’t plan to lease their vehicles for very long. With ownership, you’ll have the opportunity to customize your car as much as you want and be able to drive it anywhere you please.

Ownership is also a great way to build equity and instill a sense of pride. This is especially important for drivers who aren’t planning to lease their vehicles for very long, but still want to drive a high-quality vehicle that they can resell if necessary.

If you’re interested in leasing a Honda, talk to your financing team at VIP Honda. We can help you determine if leasing is a good choice for your financial needs, and we’ll work with you to find an excellent deal on a new vehicle that fits your budget.

Buying a Certified Pre-Owned Honda

If you’re looking for a reliable, high-quality vehicle, consider buying a certified pre-owned Honda. These cars undergo a thorough inspection by a Honda-trained technician to ensure that they’re in top condition.

The cost of a CPO vehicle is usually higher than a non-certified used vehicle, but you get peace of mind with factory-backed warranty protection. You’ll also enjoy perks like 24-hour roadside assistance, limited trip interruption reimbursement and special factory-sponsored financing deals.

You’ll want to keep an eye out for these benefits if you’re shopping for a CPO Honda, and you’ll be happy to know that they’re available on a wide range of models. Plus, Honda offers different CPO warranty levels based on vehicle age and mileage.

For example, a CPO model that’s less than a year old with fewer than 12,000 miles on the odometer is covered by the Honda True Certified Plus 2-year or 50,000-mile bumper-to-bumper limited warranty, which starts when the new-car warranty expires. A CPO model that’s more than a year old with more than 12,000 miles on the odometer receives the Honda True Certified bumper-to-bumper limited warranty, plus 7 years or 100,000-mile powertrain coverage calculated from the original new-car purchase date.

Depending on your budget, you may also wish to buy a CPO extended warranty for added protection. These plans are generally available for less than the original factory warranty and offer low monthly payments, repair shop flexibility and paid claims directly to a repair facility.

While CPO vehicles aren’t as cheap as traditional used cars, they’re often much cheaper than purchasing a new car or leasing a new one. This makes them an ideal option for people who don’t want to break the bank on their next vehicle purchase.

See also  Refinance Your Mortgage

Financing Accessories

When it comes to your Honda finances, there are a lot of options. You can shop around for a car loan from your bank or credit union, or you can use Honda Financial Services to help you find the best rate and terms for your needs. Regardless of which option you choose, it’s important to do your research and compare lenders before you make your final decision.

For instance, some of the new Honda vehicles available at Jay Wolfe Honda have special financing deals, like 0% or 0.9% APR rates, that are incredibly low, which can save you money. You can also take advantage of rebates, which often come with no interest.

Another way to cut down on your honda finance payment is to pay your payments by phone or online. These services allow you to make payments from your checking account at a time and date that works for you.

Honda also offers a variety of OEM accessories that can be purchased at the dealership, which can enhance your car and add extra enjoyment to your drive. Genuine Honda parts are engineered to the same exacting standards as the vehicle for which they were designed. They’re also designed to last longer, which can increase the value of your car when you decide to sell it or trade it in for a different model year.

If you’re considering buying a new or certified pre-owned Honda, consider using the online application offered by Honda Financial Services to get pre-approved. This will take you just a few minutes, and you can even use it to view dealer inventory online. You can then take your approval email to the dealership and finish up the auto financing process.

Jeffrey Augers
Latest posts by Jeffrey Augers (see all)

By Jeffrey Augers

Jeffrey Augers is a highly skilled and experienced financial analyst with over 12 years of experience in the finance industry. He has a proven track record of delivering exceptional financial insights and recommendations to clients, empowering them to make informed decisions and achieve their financial goals. Jeffrey holds a Bachelor's degree in Finance from the University of Michigan, and an MBA from the Wharton School of Business.