New Honda Vehicles
Honda Finance Questions
 | Honda Carland can help you answer many finance questions you may have.Are the online credit applications secure? Answer 1 Is the car cheaper if I pay cash? Answer 2 Lease vs. Buy? Answer 3 |
Here are some other helpful pointers
The Advantages of Leasing a Honda in Atlanta
Low Down Payments – Answer 4
Lower Monthly Payments on a Honda – Answer 5
Lease Maturity – Answer 6
The Disadvantages of Leasing vs. Purchasing a Honda at Honda Carland
Usually No or Less Equity on a lease vehicle – Answer 7
Contractual Obligations – Answer 8
Important questions our customers have had to ask? | |
Cash Needs – Answer 9 How often do you like or need a new vehicle? – Answer 10 To Drive or not to drive? – Answer 11 Business Purposes? – Answer 12 Business as usual? – Answer 13 Its Honda! – Answer 14 When will I receive my title or tag work? – Answer 15 | How are Lease rates determined by Honda? – Answer 16 How are interest rates figured? – Answer 17 Should I purchase an extended warranty or vehicle service contract? – Answer 18 Do I need to purchase GAP insurance? – Answer 19 What do I do at Lease Maturity? – Answer 20 What sort of security is in place to protect my identity and private information? – Answer 21 |
Answer 1
Yes, the “https:” signifies that is a secured link, and the credit information goes to a third party secure credit transaction company that uses the latest technology to protect your information.
Answer 2
Honda Carland, Atlanta Honda Dealer does offer highly competitive “Market” Interest Rates. If our customers choose to pay cash, the price of the car will not fluctuate any different than finance or lease option. Much has changed; credit bureaus have made it easier to extend credit! In the past, dealers would offer additional discount for cash customers to try to avoid an approval of credit which in some cases could take over a month.
Answer 3
Dog or cat lover? The buying motivations and needs are different for everyone! Lease customers tend to enjoy changing vehicles more often than customers who prefer to pay cash! Leases do have annual mileage restrictions that may deter some from leasing. However, leases are usually lower payments, shorter terms, and usually require less money upfront.
Answer 4
Most leases that you will see posted on Honda.com will require capitalized cost reduction or “Money down”, if you are payment flexible, you can reduce the cash needed upfront.
Answer 5
Since you are paying only the difference from the Bank’s or Honda’s selected lease terms. Meaning the difference from the residual and the selling price, payment tends to be less on leases.
Answer 6
At lease maturity, you are able to simply get an inspection and note the miles. You can often come to Honda Carland and take advantage of Loyalty Leasing, which will save you money towards your next Honda. Keep in mind, that the Carland Rewards program will help you save money towards the purchase or lease of your next Honda. Providing you have no damage or mileage issues, lease maturity is relatively easy with Honda and Honda Carland.
Answer 7
Hondas are known for resale value. When you lease a Honda residuals are set based upon projected depreciation of your Honda over a set period of time and annual mileage. If you just paid for 36 months, you simply paid the depreciation of the Honda. So, equity is usually held on the side of the financial institution. However, we do see some leases that we actually can purchase towards the end of the lease, and the leasee can receive some equity.
Answer 8
Condition, mileage, and maintenance are important on leases. Remember you have to return the vehicle back to the leasor. At times, jobs can change, moves, and unforeseen circumstance may cause you to have to drive more that the leased amount of annual mileage. We have seen where some customers find less enjoyment of their Honda because unforeseen circumstances occur.
Answer 9
Leasing a Honda makes sense if you need lower monthly payments and would like to put little or no money down. Budget constraints may require a lease option. Also, some customers prefer to do other things with excess cash. We have all heard “ Lease Depreciation and Buy Appreciation”.
Answer 10
Needs will change, newlyweds, “we have one child, and another on the way”, just graduated college, my child just left for college, or we are going traveling. All customers have specific transportation needs. Looking at how long you will need your current vehicle, think about what is coming up on life’s horizon, but do keep in mind- it is not always linear!
Answer 11
If you drive everywhere, and typically drive more than 15,000 miles a year, leasing can be bothersome. We have had customers design leases with higher mileage allowances. When you pay for miles upfront, you don’t get any money back usually for miles you don’t drive. If you can safely budget 10,000 to 15,000 miles a year, leasing may be a viable option to you!
Answer 12
Write-offs or deductions may be another advantage to leasing. Please research your tax options at www.irs.gov to determine if you or your business qualifies for additional deductions or credits.
Answer 13
If your life and transportation needs are relatively consistent. Leasing a Honda may benefit you. If you find that maybe a job, family member, or any other factor may cause some unforeseen transportation needs, you may want to evaluate these factors before entering into a lease or discuss leasing and purchasing options in great detail with one of our Business Managers, or seek advice from your personal accountant or financial advisor.
Answer 14
Know your lease company…Honda Lease and Finance Company is fantastic to deal with. Leasing a Honda in Atlanta can be very simple. Their policies and guidelines for leasing have afforded more flexibility than most lease companies. If you are going to lease, be sure to evaluate the Special Lease Programs that Honda has to offer.
Answer 15
Once Honda Carland has received all monies and required paperwork, Honda Carland will apply for your tag, and then if a title is applicable, we will send the title. The transaction period could take a week up until 3-4 weeks depending on the structure and parties involved in the transaction.
Answer 16
Honda will formulate depreciation, set the residual value, assess Money factor and term base on specific annual miles. The payments are a product of Residual Value, Money Factor, Capitalized Cost Reduction, Annual Mileage, Credit Risk, and Term.
Answer 17
Banking institutions in most cases use a “Tier” System. Meaning they look at your credit scores from various credit bureaus. Other guidelines come into play as well. Length of residency, debt to income ratio, length of employment are some of the factors used by our business managers to help shop the best rates for you. Our business manager will discuss your qualifications and the interest rates that are available to you!
Answer 18
Extended warranties can help you budget for costly unforeseen repairs. Many of our customers enjoy the added piece of mind an extended service contract has to offer. Vehicle Service Contracts have different levels of mechanical coverage and various mileage
intervals. Our business managers will be able to review these programs, and help you select one that fits your specific needs.
Answer 19
GAP insurance is included on leases automatically. We do offer GAP insurance on all of our new and pre-owned financed vehicles. GAP insurance helps insure that the amount owed to a financial institution is covered against a deficiency in the actual value of the vehicle at the event a vehicle is rendered a loss by your insurance company.
Answer 20
Please see Lease Maturity Center
Answer 21
Honda Carland employs firewalls and updated IT solutions to protect your information; all social security numbers and private information are stored in encryption. The credit transaction happens within a secure portal, and information is protected in secured servers. Honda Carland complies with Federal “Red Flag” Rules. Honda Carland also has a Privacy Act in place, so that all employees understand the proper handling of all sensitive information.
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