Honda Financial Services

• Loan and Leasing Options
• Advantages

Loan and Leasing Options

Honda Financial Services has many different loans and leasing options for those who are shopping for a car at a Honda dealership. Since you are purchasing a car from their dealership they offer some financing perks to ensure you have the right loan for your car. Honda offers loans in new cars, certified used cars, boats, motorcycles, recreational vehicles, and power equipment. These options are very convenient for customers who want to buy a Honda vehicle.

Advantages

• Graduating college students save money on new cars (Current deal: $500 off)
• Military appreciation discounts
• Leadership purchase program (lease for 24 months then purchase or walk away)
• Honda Care service contracts available
• Online credit pre-approval online
• Online car shopping

These options, as well as online calculators and in person advice from dealership representatives, make Honda Financial Services a great option for financing your new Honda.

• Loans are Exclusive to Honda
• Disadvantages
• Lacks Online Assistance
• Lack of Transparency

Loans are Exclusive to Honda

Obviously, the worst part about Honda financing is the fact that you must purchase your car from a Honda dealership. Only certified Honda dealerships can offer financing from Honda since Honda Financial Services only wants to loan for certified vehicles. This limits the vehicles and therefore the possible customers who can use the loans and services Honda has to offer. Customers who know they want a Honda vehicle will benefit from the exclusive nature of Honda Financial Services.

Disadvantages

• No online application
• No free credit check
• APRs are dictated by current dealership offers
• Honda vehicles only

Lacks Online Assistance

Honda Financial Services seem to offer reliable loans; however, they are not a banking website so their online assistance and information is limited. You must physically go in and talk to a salesperson at the dealership in order to apply for a loan.

Lack of Transparency

Honda Financial Services is lacking a great deal of information we look for in the industry. This lack of information makes it more difficult for customers to decide if Honda Financial Services is the right fit for them. It is also difficult for our team to accurately rank Honda's services versus other companies in the industry. We would like to see more transparency regarding application fees, loan amount, APR, term length, mileage limitations, early-pay penalties, and bad credit loan options.