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When you secure your loan through Honda Finance or whomever, do you lock in the rate at the time you order your van or does the rate float until you take delivery?

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It's the rate when you sign the documents. It doesn't matter what the rate is when you order the van. It can take 4 months before you can take delivery.

Don't know about the U.S. but here in Canada, Honda sets the rate monthly. The dealers don't know anything. You can call Honda Finance & verify what the rate is.

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We got financing through the dealer. They waited until day of delivery to fix the rate. This worked out fine since we are in a declining rate environment right now. The loan is actually through Chase.

Doug
 

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<font face="Verdana, Arial" size="2">Originally posted by stillwaitingnj:
We got financing through the dealer. They waited until day of delivery to fix the rate. This worked out fine since we are in a declining rate environment right now. The loan is actually through Chase.

Doug

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Same here. Our loan is with Chase too. One bad thing about that is that you have to send extra money towards principal to a different location (if you want to pay off the loan quicker)
 
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