Honda Odyssey Forum banner

1 - 13 of 13 Posts

·
Registered
Joined
·
565 Posts
Discussion Starter #1
With a second child due in July 2002 and with a depressed economy, I'm thinking that now would be a good time to buy.

Understanding the Odyssey's popularity, I'm sure Honda finance isn't offering any competitive programs like the domestic manufacturers are.

How have you new owners been financing, through Honda, your bank or ???

BTW, I live near St. Louis, if that makes a difference.

------------------
 

·
Registered
Joined
·
174 Posts
I just financed for 7% through Honda.
 

·
Registered
Joined
·
141 Posts
I financed through UFCU (www.ufcu.org) at 5.99% for 66 months.

You gotta deposit $5 to join. Tell em Carlos Ribas (member) sent you and you can avoid a $25 donation if you're not University affiliated.

------------------
2002 Mesa Beige EX-L-RES w/ misaligned, hard to close driver door
 

·
Registered
Joined
·
854 Posts
one good trick i learned from the FI guy at my honda dealer is that they hate to do business with Peoplefirst. Apparently they have to do a lot of paperwork and it takes a while for them to get their money.

I applied for a 60 month peoplefirst loan through Costco and got a 5.64 rate. The dealer then got me 5.44 through Chase. He said they try to avoid peoplefirst as much as they could. at one point he was going to offer me the 7 year warranty for $500 if i accepted a higher interest rate.
 

·
Registered
Joined
·
48 Posts
Is it possible to refinance a car loan? If you can do it for a house, why not a car? I bought my van in August and the rate is considerably higher than these. Any ideas?

------------------
vangirl

'01 SS EX with i-VES, Kelton Subwoofer, trailer hitch, cross bars, in-dash CD changer, fog lights, cargo tray

'00 New Formula Red S2000
'00 Flamenco Black Pearl Civic EX
 

·
Registered
Joined
·
207 Posts
<font face="Verdana, Arial" size="2">Originally posted by vangirl:
Is it possible to refinance a car loan? </font>
Yep. Just hit Yahoo! and do a search with the exact words you used; "refinance a car loan".
 

·
Registered
Joined
·
141 Posts
Vangirl - definately - I did on my Mitsubishi.

Some places will actually incent you to do so. I know my credit union gave me $25 to refinance w/ them at the time. If you're interested I can find out if they are still doing that. I think required a referral, which a buddy of mine did for me. If they are still doing it I could refer you.

------------------
2002 Mesa Beige EX-L-RES w/ misaligned, hard to close driver door
 

·
Registered
Joined
·
141 Posts
Refinance rates are not always higher than new car rates.

There's several loaners who will refinance at the same rate as new car loans w/o any loan processing costs.

------------------
2002 Mesa Beige EX-L-RES w/ misaligned, hard to close driver door
 

·
Registered
Joined
·
854 Posts
that's good to know. I haven't seen one yet, so I assumed that was not the case. I know that loans for used cars are higher.
 

·
Registered
Joined
·
141 Posts
Slocko -- here's one:

Secured Loans - One Great Rate!
New and Used Autos, Boats, Motorcycles and Motor Homes, Stocks
Term in Months Rate
1-30 5.74%
31-42 5.90%
43-54 5.99%
55-66 5.99%
>66 6.49%

www.ufcu.org


------------------
2002 Mesa Beige EX-L-RES w/ misaligned, hard to close driver door
 

·
Registered
Joined
·
3 Posts
Was able to get Honda (in NY Metro area) to match a 6.05% financing offer from eLoans (in mid-November).

Seems that the dealers hate dealing with the internet financing companies, since they don't get paid upfront and there are more forms they have to fill out to get paid.

Its sometimes worth it to them to give you a lower rate than they normally offer so they don't have to deal with the hassle.

Worked for me.
 

·
Registered
Joined
·
141 Posts
I agree w/ Thinking -- the dealers will go out of their way to get you a good rate.

Not only is it more convinient for them, but if they go through Honda Finance, they get a kickback.

Back in August, my dealer tried to beat UFCU's rate for 66mos of 6.5% by offering me 6.4%. I told UFCU about it and they gave me 6.2% just to shut the dealer up. It worked


Rates are lower now.. great time for loans!

------------------
2002 Mesa Beige EX-L-RES w/ misaligned, hard to close driver door
 
1 - 13 of 13 Posts
Top