I know it is not a tech relate question.
And I know Si price will not going down.

But, interest is very high at this point.
One of my relative bought new Fit $16.700
Credit score was 715 and apr was %7.4 its almost used car interest!

I was going to get an si, when they had special financing, but dealer couldn't gave me a good deal on prices and also my 07 nissan makes only tax deduct.( I downpaid $5000)

Do you guys think that Honda will have special financing again?

 

7.4% for an used car? Your relative got ripped off. Talk to your own bank, my bank give me 2.5% for used car. Aren't Honda doing 08 clearance right now? See if you can get a good deal now. I see that opportunity anime guy on TV all the time these days.

 

new car dealership usually starts to have good deals when they are tying to get rid of the 08 cars gettin ready for the 09 but since gas prices now is gettin higher and higher, the demand for civics and fits are higher so u might be in for a long wait...my dealership are selling civics and fits like crazy

 

nonono. she got 7.4% on a new fit.
and her credit score was 715.

7.4% is like used car apr right?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by xkrntamax &raquo;</TD></TR><TR><TD CLASS="quote">nonono. she got 7.4% on a new fit.
and her credit score was 715.

7.4% is like used car apr right?</TD></TR></TABLE>

There are no official interest program from Honda Financial for such cars as the Fit or the Civic (gas prices). These cars are selling so well, that there is no need to give any discounts.

So it's all open game. The dealers are loving it, right now. Nothing you can do. Year end clearance or not. 08, 09 don't matter. Someone will buy them if you don't want it. I read somewhere that Honda is adding another shift to a Civic plant. Business is that good.

You are going to pay BIG for a small car today. I don't think there will be any deals on Civics or Fit in the near future.

7.4% is not fair. And they don't care.

Your best bet is to find financing yourself.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by GoLowDrew &raquo;</TD></TR><TR><TD CLASS="quote">

There are no official interest program from Honda Financial for such cars as the Fit or the Civic (gas prices). These cars are selling so well, that there is no need to give any discounts.

So it's all open game. The dealers are loving it, right now. Nothing you can do. Year end clearance or not. 08, 09 don't matter. Someone will buy them if you don't want it. I read somewhere that Honda is adding another shift to a Civic plant. Business is that good.

You are going to pay BIG for a small car today. I don't think there will be any deals on Civics or Fit in the near future.

7.4% is not fair. And they don't care.

Your best bet is to find financing yourself. </TD></TR></TABLE>

The way I understood it and I've heard from others is that Honda has two different tiers of financing. At 7-8%, you're on the lower end of the second tier, close to being in the first (prime) tier.

It could be limited credit history, age, outstanding loans, time at current employer, etc. that contribute to it.

I'm at 7.4% on my Civic, because there wasn't a financing special going on. My friend caught the 2.9% special, and was able to get it, with even less history than me.

 

go thru ur bank/credit union.. chase is a good bank for car loans.

 

also, honda is building a new plant stateside that is going to produce civics. so while they are crossing the t's and dotting the i's with that, civic's are in limited production. they are selling like hotcakes. my dealership hasnt seen an si in a month.

 

7.4 is really high for an used car with that history. Like people say always try to find finance yourself on your own time. If you are at the dealer ready to sign the paperwork they just gonna pick the first # any bank or financing service throw at them, they don't look for the best one for you. Always talk to your own bank too. Also if you get 36 months instead of more months the apr% will drop but you'll get higher monthly payment if you don't know that already.

 

they have a college grad financing incentive goin on now....unless it was just at the dealer i got my si at. 4.99% on any honda vehicle

 

Since we are talking about financing. I just got junk mail that I can get 1.9% on a 08 Accord. It almost make more sense to get the more expensive car, because it's probably cost the same if one is paying a crazy rate.

 

i got 5.9 for my si in 2006. it was a loyalty rate... and the rate isn't even that awesome but without it i would have been at the 7.9.

 

It depends on the economy and how other banks are doing, i was able to get financing at 8% i waited a week to sell my car and get a downpayment instead of just trading it in to pay it off, and i wasnt able to get financing after that. Inbetween me selling my car and checking my credit again 3 different banks posted a sizeable quarter loss. So banks are scared to give financing to certain people or to people in general unless they have way above average credit and good credit history.

 

The only special financing I see Honda doing is on vehicles like Pilot, Ridgeline, S2000. If you aren't using your own financial institution you can go online to web sites such as lendingtree.com. I recommend a credit union, they usually loan at a few points over the federal rate for qualified buyers.