Financing Your New Honda Vehicle
The financing team at Hamilton Honda has a number of different options toj offer you. We have developed an extensive list of local and national lenders who are willing to work with our customers regardless of their current credit status. This allows us to extend financing to virtually anyone who comes to us searching for a new Honda vehicle.
Bear in mind that if you choose to finance your next new Honda vehicle, your monthly payments will typically be higher than those you might have when you lease a vehicle. The reason your payments may be higher is that you will be paying full retail price for your new Honda. Along with this, you will also be paying interest, a number of financing charges, along with numerous fees and taxes. There are also a number of upfront charges including a down payment, registration fees, sales tax, and documentation fees that must be paid.
Worth noting is that when you buy a new Honda, you are building equity in it because you are actually purchasing it rather than leasing it. When you lease a vehicle, you never build any equity as you do not own it unless you choose to buy it at the end of the lease period. Also, when you buy a vehicle instead of leasing it, you are not locked into a set period of ownership beyond the time during which you must make the payments on your loan. You can pay off the loan early or simply make all of the payments, either way, the vehicle is yours once you make the last payment.
Leasing Options
For many years, vehicle leasing programs were restricted to businesses and corporations who needed fleets of vehicles for their employees. Today leasing is now another financing option offered to the general public as a way of “financing” their next new vehicle.
The lease program offered at Hamilton Honda has been designed to be very flexible as far as how many months the lease term may run and the number of miles included in the lease period. In most cases the payments in a lease program are less than those you would have if you finance your new Honda. However, this is because these payments only cover a small portion of the actual retail price of the vehicle. They also include built-in depreciation, fees, taxes, and any other miscellaneous charges.
Also, with a lease you have to make all of your payments, you do not have the option to pay the lease off early and there are a number of upfront fees such as a lease acquisition fee, down payments, and several other fees you may have to pay.
At Hamilton Honda, our financing department is here to help you drive home in the new Honda vehicle of your dreams. You can start your financing application using our online application form and receive your approval within hours of application.
-->