Interest rate on Honda Vehicles

Discussion in 'General Motoring' started by acforn, Feb 4, 2009.

  1. acforn

    acforn Guest

    Can Interest rate be negotiated when purchasing a Honda vehicles?
    Also, can I get a bargain on a Honda, like it seems to be with the big

    This is going to be the first time with Honda...
    Thank you
    acforn, Feb 4, 2009
  2. acforn

    Dan C Guest

    Probably, although this question can't really be answered the way you
    have asked it. Are you financing through Honda, or your local bank, or
    what? In either case, the answer is "probably".
    Define "bargain".
    Dan C, Feb 4, 2009
  3. You don't have to buy the money from Honda. You may buy the money from
    anyone. The dealer just wants the cash. It doesn't matter whose name
    is on the check.

    And if you want the dealership to broker the money deal for you, they
    work with anyone and everyone.

    So yes, it's negotiable. Everything is negotiable.

    You have to evaluate each part of the deal separately: the purchase
    price of the car and the purchase price/total cost of the money you're
    buying to acquire the car.

    And keep in mind that money is a fungible; it's all the same no matter
    where you acquire it. So get it for the absolute cheapest you can.
    That may entail some work on your part. A slightly higher interest rate
    may give some other perks you want, for example.

    My advice is never to buy more than one thing from the dealer. Get a
    price from the dealer, period. Buy your money from somewhere else. If
    you have a used car to sell, sell it as a separate transaction.

    Remember--the more things you tie up into one transaction with one
    salesman, the more chances he has to rip you off.
    Elmo P. Shagnasty, Feb 4, 2009
  4. acforn

    ACAR Guest

    Sure. First go to your bank and credit union and get their rates. Then
    after you negotiate the price of the vehicle (and only after you
    negotiate the price) have the finance guy at the dealership tell you
    his deal. It will probably be higher than either your bank or credit
    union deals. Tell the finance guy to beat the bank/credit union. He
    may come up with a very low interest rate but home equity lines, if
    you qualify, are tough to beat. The best deal should get your
    business. Note that there's some movement to make 100% of auto loans
    tax deductible in ongoing Federal Stimulus Package negotiations.
    You've gotta bargain to get the best deal (unless you opt for a
    factory-sponsored lease). Check on-line resources like
    for help.
    So what color Accord are you going to buy?
    Happy Motoring
    ACAR, Feb 4, 2009
  5. The first rule of business is: Everything is Negotiable.

    How low a price you will pay is a function of how good a negotiator you are
    and how hungry the dealers are at the time you visit. You do visit more than
    one dealer, don't you?
    Sharp Dressed Man, Feb 4, 2009
  6. acforn

    Woody Guest

    The biggest factor on your interest rate and whether you even get a loan is
    your credit score. The lower it is the more you pay.
    Woody, Feb 4, 2009
  7. acforn

    L Alpert Guest

    Negotiate the best price you can for the car, and if you can't get a decent
    loan rate (0% financing may be available), tell them you would like to lease
    it at that sale price (if you don't mind leasing).
    L Alpert, Feb 5, 2009
  8. acforn

    Toommy Guest

    can you tell su which country you're in as this helps with the advice
    Toommy, Feb 6, 2009
  9. acforn

    Spyro Guest

    You may get a better price for your old car when sold separately
    (depends on various factors) but if your trade-in's value is deducted
    from the new car's sale price then you may want to consider the change
    in sales tax you'll be paying on the new car (depends on where you're
    buying it) as the difference in sales tax may make it worth your while
    to trade-in with the dealer instead of selling privately.
    Spyro, Feb 8, 2009
  10. Absolutely. Each state is different, so run the numbers.
    Elmo P. Shagnasty, Feb 8, 2009
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