Honda Financing FAQs
Honda Financing FAQs
Picking out the exact car you want to drive around Tampa, Citrus Park, or Lutz in is just one part of the car-buying process. Another key aspect you’ll want to be ready for is when it comes time to figure out how’d you like to pay for the new or used car you want. Luckily, our Tampa Honda finance team is here to help you when it comes time to finance your dream car. We also wanted to provide answers to some Honda financing FAQs below so you can get a head start before visiting our dealership. That way, you’ll have a better idea of the type of auto financing you’d prefer!
What’s the Difference Between Buying vs Leasing?
By buying a car, you’re purchasing it to gain ownership. Whether you pay cash up front or get a loan to pay off the car in set monthly installments, the car is yours to drive as many miles as you’d like and customize to your liking. With a lease, you get to drive a new Honda for a few years. This is essentially like borrowing the car from the dealership, so you’ll usually enjoy lower payments and have the chance to drive a new car often.
What Is a Trade-In?
If you’re looking to sell your car, you’ll have the option to trade in your vehicle at our dealership. This makes it even more convenient to get great value for your car. With a trade-in, you’ll be able to use what you earn on the sale and apply it to the purchase of your new ride to get an even better deal. Just use our Value Your Trade tool now to see how much your car is worth!
How Do I Get Approved for Credit?
You can complete this step in one of two ways. You can get pre-approved before stopping by our dealership by filling out our secure finance application online. You can also have one of our finance experts help you get approved for a loan when you visit us in person. Regardless of your credit situation, they’ll work to help you get approved for auto financing.
How Are Loan Rates Determined?
The terms of your loan will come down to certain factors about your deal. The amount borrowed, the length of the loan, and your credit history will all help determine the exact rate lenders attach to your loan. To help you find a competitive rate, our finance team can work to create the optimal deal for you.
What Are My End-of-Lease Options?
Once your lease term ends, you’ll have a few options for what to do next. You can buy the Honda you’ve been driving—our team can help you get a loan to help pay off the remaining value of the car. You can also choose to buy a different new or used Honda or get started on another lease in whichever new Honda you want.