Honda Financing

[Anonymous]

Anyone know if Honda Financing will go more than 100% LTV with their 0% financing specials?

[4sallypat]

I have never tried to go above 100% (full price of car plus TTL) thru AHFS - why would you want to pay more than sticker ??

Recently, I was able to get a Honda Clarity with $7,500 manufacturer incentive + $3,000 dealer discount and zero down on a lease with a low score (2 yrs ago).

Honda Finance said that they would do a lease at 0.2 MF but the dealer which I have purchased many Hondas in the past (same sales director), the store vouched for me and gave me the base MF saving me hundreds!

[Anonymous]

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@4sallypat wrote:

I have never tried to go above 100% (full price of car plus TTL) thru AHFS - why would you want to pay more than sticker ??

Recently, I was able to get a Honda Clarity with $7,500 manufacturer incentive + $3,000 dealer discount and zero down on a lease with a low score (2 yrs ago).

Honda Finance said that they would do a lease at 0.2 MF but the dealer which I have purchased many Hondas in the past (same sales director), the store vouched for me and gave me the base MF saving me hundreds!

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I've got some negative equity on my existing vehicle that I'll be wanting to trade in. 

[4sallypat]

Ok, got it!

Have you tried using Capital One Auto Naviator to see how much you would pre-qualify for by a SP ?

I did that recently to look for a used car for my college bound kid - they prequal me at $50K and low 2-5% depending on the age of the car, miles, etc...

Using the Auto Navigator, I found that actual rates for a car empowers you against the dealer who can mark up any amount...

[Anonymous]

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@4sallypat wrote:

Ok, got it!

Have you tried using Capital One Auto Naviator to see how much you would pre-qualify for by a SP ?

I did that recently to look for a used car for my college bound kid - they prequal me at $50K and low 2-5% depending on the age of the car, miles, etc...

Using the Auto Navigator, I found that actual rates for a car empowers you against the dealer who can mark up any amount...

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Yeah I've been using that as well.  Cap 1 has prequal'd me at $50k in the 3-4% range (and does allow me to add in a fair amount of negative equity on the trade).  But Honda currently has 0% lol

[4sallypat]

Can you reach out to your dealer's F&I or Sales manager for AHFS terms on over 100% LTV ?

I know that most dealers would go out of their way to finance you as they make money each month off the loan...

At least you know you can go with Cap 1 Auto Navigator - I love being empowered by using them for negotiations...

[Anonymous]

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@4sallypat wrote:

Can you reach out to your dealer's F&I or Sales manager for AHFS terms on over 100% LTV ?

I know that most dealers would go out of their way to finance you as they make money each month off the loan...

At least you know you can go with Cap 1 Auto Navigator - I love being empowered by using them for negotiations...

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I reached out to the finance department...will see what kind of response I get lol.

[Anonymous]

I did find out that Honda will go to 110% LTV.

Also that here in MN they pull EQ and require 710 or higher to get the 0% financing.

[4sallypat]

This is good to know!

Thanks for following up and let us know if you get your new Honda ?

[Anonymous]

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@4sallypat wrote:

This is good to know!

Thanks for following up and let us know if you get your new Honda ?

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Well, we ended up getting a barely used 2020 Honda Ridgeline instead.  Interest rate was 5% (not through Honda), but that was mainly because we had a fair amount of negative trade-in equity to absorb in the new loan lol.

We would've preferred a new model but 2020's are hard to find and 2021's are in short supply as well (and selling as soon as they get in).  Very satisfied with our purchase though - it only had 4500 miles on it (dealer loaner), and since it's Honda Certified+, it comes with 2 extra years of warranty at no extra cost.