Is the Honda Financing company any good? They got the low apr of 6.9% right now, it is for the entire lenth of contract.

 

The 6.9% is on like a 2 year loan. The low payment plan is like 12.9% for the first 2 years and then jumps up after that. If you can swing the payment the 6.9% is the way to go.

 

i went that route because they dont require insurance.

 

How is the company that does the financing? How would you rate them?

 

It is 6.9% for 2 years, 7.9 for 3, and 8.9 for 4 years. I just got a 2002 400 the day before yesterday, and got the 7.9% for three years. My 400 was $5499 and i put $1000 down. After taxes, title, and all that crap i'm financing $4700. My payments are $140 a month. It is through Conseco Bank they do all of Honda's financing.

 

I got a question about the Honda card. I have had some credit problems a few years ago so I was curious, how strict are they on their credit descisions? I really want a quad and don't have the cash to buy one outright. Thanks.

 

Actually, the 6.9% financing is for 60 months thru Honda Finance if you have good credit => http://www.hondamotorcycles.com/specials/gtg_atv.html.

I had already gone thru the credit process at my dealer and was approved for 6.9 for 60 months with 0 down when I decided I didn't want a Honda.

 

They are very strict on there credit. I got 7.9% for 3 years. not 5.

 

Here is a copy off Honda's website..

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**Financing available to qualified customers subject to credit approval from Conseco Bank, Inc. on the Honda Card program at participating Honda Dealers. Promotional payment example is for the first two years and based on a reduced minimum payment of 1.5% of the original credit plan balance and 12.99% APR with the total finance amount not to exceed: Sportrax 250EX $4600. Total balance after 24 months and on purchases other than initial offer during promotional period are subject to the increased Standard Program APR and minimum monthly payment: 2.5% of the original credit plan balance minimum payments and 16.75% APR. Standard Program APR may vary (16.75% as of 9/01). Finance charges begin to accrue on the date purchases post to account. All transactions are subject to the terms and conditions of Cardholder Agreement. Honda Card offer is good from 8/1/01-12/31/01.

†6.9% fixed APR financing available through American Honda Finance Corporation upon approved credit. Terms and rates may vary based on credit worthiness. Finance offer is good from 8/1/01-12/31/01.

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Hope that helps

 

I have no beef with them( honda finance- now offered through Conseco-rather than trasamerica.) Of course they had no beef with me either, I paid on time and finnished up the loan in four months, it was really just a convinience thing me. They shipped the title two weeks after final payment, and haven't said a peep since promotional or otherwise.