Greetings Folks,

I will be financing my S2000 but I am really new to this. Should I go through American Honda Financing or through my Credit Union. My credit is very good. What rate should I be expecting to see (approx.)... or if you don't mind me asking... what are the going rates from owners that have just recently purchased and who are financing. I will be putting a minimum of 20% down.

Any help would be GREATLY APPRECIATED.

It will be very soon now...

Thanks... nico

 

I have had great success with American Honda Finance in the past... especially if you are a repeat customer. The rates are always negiotable, and always have 2-3 other quotes for rates...they'll typically match or beat them. They also have an "owner loyalty" program which gives you somekind of discount (or is that just the Acura dealership?? dunno).

-- Aaron

 

Got mine through American Honda Finance at 8%, with 20% down. Be sure to check and see what your bank will do then take that offer to the dealer with you. Like amartin said they will negotiate.

 

go through a credit union - right now, my local credit union has new car loan financing starting at 5.95%. you'll need 20% of the total (car+tt&l).

 

Schatten

go through a credit union - right now, my local credit union has new car loan financing starting at 5.95%. you'll need 20% of the total (car+tt&l).

Greetings Schatten,

Can you please give me the name and URL of this Credit Union?

Many thanks... nico

 

http://www.austintelco.com

2000 and 2001 Vehicles 60 Months 5.95%
1999 and Older Vehicles 54 Months 6.50%

 

If dealer handles the financing, make sure they are not marking up the rate from their finance source.(ie. they are quoted a buy rate of 6% and charge you 7%.) They make 1p.p. or around $700 bucks on $28,000 on a five year term. This is a huge source of income for a dealer. Beware.

 

[QUOTE]Originally posted by Schatten
[B]http://www.austintelco.com

2000 and 2001 Vehicles 60 Months 5.95%

 

Check out Peoplefirst.com. They have good rates. We got approved with them (at 6.9% for $35,000 over 60 months with 0 down).

Went into Honda dealership and negotiated a 6.5% thru American Honda. Beware though, they may tell you that they will not accept an internet bank check. If so, just call Peoplefirst and they will send a cashiers check instead of a joint check. Once we told dealer this, they started getting right on their rates.

Good luck

 

Do you have to be a member of this credit union? Or, can anybody call them and apply for financing?