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Discussion Starter #1
Does anyone out there know what a good APR would be when financing through Honda?
I know it does depend on your credit report; however some dealers tend to give you a loan with an average of 8% APR.
So what's high APR and Low APR?

Thanks,

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Will N.
New Jersey "The Garden State"
 

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I financed through my credit union. The dealer asked the rate and I said 5.49%. He said he could get me 5.5% if I wanted and I asked if it was 5 or 6 years? My loan is for 6 years, and he couldn't match it on those terms... His best terms at 5.5% was 60 months.

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2002 EXL-RES Redrock Pearl

2001 Chevy 2500HD crewcab 4x4
 

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I received 5.95% for 60 months through Honda Finance. Comparable rates were available from two online banks.

1. Peoplefirst.com
2. virtualbank.com

[This message has been edited by TWEX02 (edited 12-20-2001).]
 

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When I first sat down with the Honda Finance guy, he said the going rate was 7.9%.

I then said that my Credit Union was offering 6.75% and that I was not interested in Honda's Financing.

He immediately lowered his rate to 5.95%

Then he started in on offering the Extended Warranty pitch.

After repeated "No, I am not interested" replys, he said he could lower to 5.5% if I took the warranty.

Moral of the story, Keep negotiating. These sleeze finance guys will try to stick you with the highest rate they think you will pay.
 

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The finance guy at Stokes Honda North in North Charleston, SC, started his pitch with the "how much do you want to pay a month" bit. We immediately called him on the default rate on his screen (7 or 8%) and told him our credit union was offering 5.5%. He hemmed and hawed and made a big deal about fingering through his book, but quickly came up with a 5.4% rate. Then he went into the extended warranty deal. We told him no thanks.

tg.


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2002 SS EX-L
1998 VW Jetta TDi
 

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So dkinne, did you take the exteneded warranty in order to get that low rate ?
And how much you have to pay for the extended
warranty, for how long?
Thanks.
 

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Called finance mgr at the dealer we will be receiving our '02 from in a week to ask about Honda Finance rate. My credit union still wants 6.5% for 48 mos. for $16,000. He said current rate is 5.5%. I asked if I could lock in at that rate even before car arrives. He responded that HE would wait as Honda is about to offer an even lower rate after Jan 1 (HE BELIEVES). Said something about a premier loan rate for less than 75% loan amount and lesser months financed. I'll let you all know in a week or so.


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Mike Lowary
'00 traded-in
'02 ordered

'96 Honda Accord EX
'01 Honda Goldwing ABS
'96 Honda Helix
 

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At first they said ABOUT 7%. This morning I went to finalize the purchase order and they told me my Odyssey was just unloaded off of the truck! It still has the plastic on it. I showed them a flyer I got from my credit union with 5.99% (we were pre-approved). I went home with the updated purchase order to wait for their call with their finance rate. 5.79%!! We pick it up Monday (Dec 24) at 9am.

No pressure for the extended warrantee (or anything else). They didn't even ask!


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2002 EP LX (Picking up Dec. 24th!!)
1998 Civic DX, Blue
1992 Civic LX, Red (Bye-Bye)

Previous Hondas:
1987 Prelude, Gray (totaled in 2000 w/188k miles)
1978 Accord, Red

Other cars:
1982 Ford EXP (We all make mistakes!)
1969 Olds Delta 88 (with 10 speed bike in back seat in case it broke down)

Family:
Myself, Wife, 3 kids (4,2 & newborn). Ever see 3 kids in the back of a 98 Civic?? GOTTA GET THAT ODY SOON!!!!

Other:
2000 Yardman mower with a Honda engine.
 

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Lotus18,

Yes, I buckled and took the 7yr/70,000mile
bumper to bumper warranty. It cost $995.

I just divorced my 96 Town&Crappy to get a new Ody. I wanted peace of mind. And, I dont trust those electric doors.
 
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