got mine through honda and it was 12.09% but ill have this payed off before i go back, credit score of 517 (please stop laughing at me)

 

I just purchased a 09 Fit Sport Auto on 12/31/08, financed $9500 with Honda and got 5.50% for 60 months. A local bank quoted me ~7.5 to 8.0% so I was pleased with Honda's offer.

 

Blackout that is funny but I will not laugh at you... cool comment though...

Last time I checked Equifax had me at 806...

 

depends on your credit

 

I got 4.75% from PenFed credit union with a score of about 780.


That's hard to beat.

 

I talked to a dealer about this and was told withing two years of graduating and it could be any degree including associates

 

I went with penfed also at 4.75% but that's by no means the lowest. The lowest I saw was for 3.75% for 60 months at am online credit union but I had to buy a car now and joining the credit union would of taken a week.

I have stellar credit and the best my Honda dealer could do through Honda Financing was 6.9%, that's the rate of my back up financing that I signed when I signed over my penfed check. In the case that for some reason the penfed check bounces, I automatically go through honda finanace at 6.9%.

 

finance manager commented 6.9% for Fits through honda finance if i wanted to
finance the car.

 

I bought a fit a few weeks ago... I brought in info about the 5.99% rate through the graduate program, and the dealer insisted it didn't exist. Anyway, I ended up with 7%, not that great for a credit rating of aroun 690 I don't think. Anyone know if I can still get 6% through honda?

 

I financed through American Honda and got an 8.75% rate. Considering that I went through a debt consolidation a little over a year ago, I was just pleased to get financing at all!

 

I would suggest to keep a sharp eye out for low interest rate balance transfer offers. Not the ones for a limited time, but the ones for the life of the loan. Call your bank and request their lowest rate. Ask them to beat your current rate. They want to make money too, don't forget. Contact your credit cards and see what they have to offer. Any time along the way that you can transfer to a lower interest loan, do it right away. Those rates from these current posts are high. Keep a sharp eye out for a better loan at all times and when you find it, transfer out! Good luck.

My credit union hooked me up at 4.75%. Honda don't rule me! Good rates are out there.

Dan

 

4.75% from my credit union. only matters on vehicle year. mine is on a used 09 fit.

 

I got a rate of 3.75% for 36 months from my credit union but the dealer was able to get me a deal of 3.49% for the same term.

 

I was approved for 4.74% through my credit union for 60months. I told the dealer this and they beat it @ 4.09% x 60months (Bank of America). I went w/ the dealer of course.

 

I got a rate through my credit union of 5.2% for 48 months.
When I went to the dealer, they offered me a rate of 4.9% for 48-60 months. Obviously, I went with Honda.

 

You have to be careful folks with current Honda financing. Tier 1 qualifiers (740 point score and above) is 4.99 but that isn't technically through Honda, that is just Honda getting you a competitive rate through partner banks. Honda does not have a financing incentive right now for any of their cars. If they say they can "beat it" what this means is they will buy down the banks rate for a concession (ie. warranty extension, appearance package, etc). I was offered a buy down to 3.99 if I took their concession. But in essense you are paying a ton for this. Not to mention interest on the extended warranty etc over 60 months. Or they may tell you that the difference of your credit union verse their buy down could be a difference of only $6. But then they don't tell you their buy down is actually for 63 vice 60 months. So over the life that equals more than $1k more. Stick with your credit union unless their is a Nationally offered incentive rate.

 

True with all dealer financing all of the time. If you need to finance a car, shop your alternatives before stepping into a dealership. Most of the time dealers make more profit on the financing than on the car itself, so this is where you will get the hardest sell tactics.

 

Your credit score will actually climb once you get the loan. You could get it through Honda Finance at 8%, and re-finance through a credit union at 4-5% after a year most likely.

That's my plan, at least

 

I have to brag- I can't help myself. In fact, it even shocked me when I read it. I may frame it. When I looked up my credit score when starting the whole process of buying a car, I was blown back to see my score is 934. I was hoping for 700 or somewhere around that. I've done some screwy shit in my life, but hosing my credit, thankfully, hasn't been one of them...yet.

Dan

 

934? The FICO scale only goes up to 850, where did you get your score?

If anyone wants to look up their credit score for free (no catches), try creditkarma.com. You can get your Transunion score for free since they get paid through advertising. It also has some very useful tools that help you analyze your score.

Also, some credit tips here.