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How to finance a Honda

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Plus, learn how military servicemembers and college grads can save.

From humble beginnings in a Japanese garage in the 1940s, Honda has come a long way to offer a line of vehicles known for their reliability. If you’re looking to finance a new or used Honda, you have several options available. And you may even be able to score a special discount if you’re a military servicemember or recent college grad.

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    How can I finance a Honda?

    There are multiple ways to finance your next Honda. While it may be tempting to go straight to the dealership, you could save money by comparing your car loan options first. Visiting different banks, credit unions and online lenders could not only help you score a lower rate — after all, you don’t have to pay the middleman — but could also put you in a better position to negotiate your car’s price. Another option is to take out a personal loan, though this typically comes with higher APRs since your loan won’t be secured by the car you’re buying.

    If speed is your biggest priority and you don’t want to spend your free time comparing lenders, Honda has two financing options that might suit you:

    • Purchasing through Honda Financial Services. Honda offers financing directly through its authorized dealers to save you time and paperwork. In the past, such deals included 1.9% APR financing for two to five years on select models.*
    • Leasing through Honda Financial Services. If you want to change up your car every few years, then leasing through Honda Financial Services may be a solid choice. In the past, you could lease a 2019 Honda Civic for $189 per month for three years with $2,799 due at signing.*

    Depending on where you live, your local dealer may offer their own special promotions, like cashback bonuses or low down payment deals. The rates and terms you qualify for will depend on your credit history and personal financial situation.

    *Rates as of November 26, 2018.

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    Rates last updated January 17th, 2019

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    Name Product Product Description Min. Credit Score Term of Loan Requirements
    car.Loan.com Car Loans
    Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
    300
    Varies by lender
    Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
    Auto Credit Express Car Loans
    Get connected with an auto lender near you, even if you have bad credit.
    300
    Typically 3 to 6 years
    Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
    LightStream Auto Loans
    Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
    Good to excellent credit
    Flexible terms
    Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
    LendingClub Auto Refinancing
    Lower your monthly car payments and save on interest through a fast and easy online application process.
    Fair or better credit
    Minimum of 2 years
    Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
    RateGenius Auto Loan Refinance
    Connect with a network of over 150 lenders to refinance your car loan.
    510
    Varies
    Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
    LendingTree Auto Loans
    Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
    Good to excellent credit
    Typically 1 to 7 years
    Must be a US citizen and 18+ years old. Must have good to excellent credit.

    Compare up to 4 providers

    Does Honda offer special discounts or programs?

    Honda offers several discount programs for members of the military, college grads and drivers with disabilities:

    • Honda military appreciation program. If you’re currently serving in the US military, have served within the past year or are a retired servicemember, you and your spouse may qualify for $500 toward buying or leasing a 2017 or newer Honda through Honda Financial Services.
    • Honda college grad program. Graduate within the past two years? Set to graduate within the next six months? You could be eligible for $500 toward a 2017 or newer Honda when you purchase or lease the vehicle through Honda Financial Services.
    • Honda customer mobility assistance program. To accommodate the needs of drivers and passengers with physical disabilities, Honda offers a $1,000 reimbursement for the cost of installing any qualifying adaptive vehicle equipment. This is only available if you purchase or lease a new Honda — used vehicles don’t qualify.

    What will a new Honda cost me?

    Knowing the manufacturer suggested retail price (MSRP) of the car you’re thinking of buying can give you an idea of how much money you’ll need to borrow. The actual price of your new Honda will vary based on where you live, your negotiation skills and the add-ons you choose.

    2019 ModelStarting MSRPBodyCity/highway MPG
    Fit$16,190Hatchback29/36
    Civic$19,450Sedan25/36
    HR-V$20,520SUV28/34
    Insight$22,830Sedan49/55
    Accord$23,720Sedan30/38
    CR-V$24,350SUV26/32
    Ridgeline$29,990Truck19/26
    Odyssey$30,090Minivan19/28
    Pilot$31,450SUV19/27

    Car insurance costs that come with driving a Honda

    Does a new Honda come with a warranty?

    Honda offers a three-year, 36,000-mile limited warranty on its new cars alongside a five-year, 60,000-mile powertrain limited warranty. While this isn’t the most robust warranty on the market, it’s standard and should cover you in case there are any manufacturer defects.

    Bottom line

    Whether you’re interested in slipping into a new or used Honda, you have a variety of financing options to choose from. If speed is your main concern, then financing directly through Honda Financial Services might be the way to go. Otherwise, you may be able to score lower rates if you compare car loans from banks, credit unions and online lenders before visiting a dealer.

    Frequently asked questions

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    Kellye Guinan

    Kellye Guinan is a writer and editor with finder.com and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

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