Honda Financing

#51
#51
Sandvol said:
If you can pay cash for a 7 or 8 year old Odyssey and drive it for a few years (the damn things last forever) and be disciplined enough to save the cash and if you can find a one owner van most Honda owners take very good care of their vehicles then you can save the money for a new one.
Click to expand...

At .9% you're basically getting free money though.
 
  • Like
Reactions: 2 people
#52
#52
Nerd-Vol said:
Truth. It helps prevent negative equity.
Click to expand...

Except if you plan on keeping it until payoff. 1% interest is almost free money, keep yours, put into something with a better return and use Honda's.
 
#53
#53
hog88 said:
Except if you plan on keeping it until payoff. 1% interest is almost free money, keep yours, put into something with a better return and use Honda's.
Click to expand...

Oh, absolutely! I just hate as a car dealer seeing folks with negative equity. IT can put the kibosh on a car deal very quickly.
 
#55
#55
Nerd-Vol said:
Oh, absolutely! I just hate as a car dealer seeing folks with negative equity. IT can put the kibosh on a car deal very quickly.
Click to expand...

I've never understood people that let themselves get into that situation. I've got a somewhat friend that trades every 2 years, he's probably still paying for a truck or two he doesn't have.
 
#56
#56
Nerd-Vol said:
Oh, absolutely! I just hate as a car dealer seeing folks with negative equity. IT can put the kibosh on a car deal very quickly.
Click to expand...

Well, negative equity won't affect most people like me because I plan on keeping the car for longer than the payment terms. If you have people that are constantly rolling in and out of new cars every 3 years, they probably need to just lease vehicles.
 
#57
#57
Rasputin_Vol said:
Well, negative equity won't affect most people like me because I plan on keeping the car for longer than the payment terms. If you have people that are constantly rolling in and out of new cars every 3 years, they probably need to just lease vehicles.
Click to expand...

Exactly. That's what my father does. When my income gets to a level where I can change up cars on a regular basis I will probably lease. You can get a lot of luxury car for the money if you lease.
 
Last edited:
#58
#58
hog88 said:
I've never understood people that let themselves get into that situation. I've got a somewhat friend that trades every 2 years, he's probably still paying for a truck or two he doesn't have.
Click to expand...

Yep. Or getting way too much car and going looong on the payment terms.
 
#59
#59
Sandvol said:
We had a Nissan Quest and now have an Odyssey. Loved both of them. Test drove the Sienna and did not like the ride or the packages they offered. Paid cash for both because I hate to finance. Love Hondas. The only problem I had with the Odyssey was the rear hydraulic lift assists for the rear door. There was a recall on them and they replaced at no charge. I tend to buy vehicles and pay cash and drive them for ten years. Works well with Hondas. No problems.
Click to expand...

I do the same (pay cash). I bought a used 1998 Odyssey in 2001, then a 2003 Sienna in 2007, Sienna was rear ended last week and I bought a 2006 Odyssey on Tuesday. My wife loves these vans. I buy them with 80,000 to 120,000 miles on them and try to keep them for about ten years. Nothing better than not having a car payment.
 
#60
#60
hog88 said:
I've never understood people that let themselves get into that situation. I've got a somewhat friend that trades every 2 years, he's probably still paying for a truck or two he doesn't have.
Click to expand...

It can get really tricky if you have an accident and still owe more than what the vehicle is worth. I knew a guy who found himself with about $10,000 of unsecured debt because he had been trading often and was upside down already before his wreck. He soon discovered that the value of his vehicle was nowhere near what he owed.
 
#62
#62
Ace said:
It can get really tricky if you have an accident and still owe more than what the vehicle is worth. I knew a guy who found himself with about $10,000 of unsecured debt because he had been trading often and was upside down already before his wreck. He soon discovered that the value of his vehicle was nowhere near what he owed.
Click to expand...

Didn't have GAP insurance?
 
  • Like
Reactions: 1 person
#63
#63
Don't know why but my thought is that the term shouldn't be longer than warranty life. When interest rates return to 80s levels I'll be a cash buyer.
 
#64
#64
Side note- I just bought an Accord LX at Honda of Cleveland for 18,775. Tax, tag, etc= $20,0075 out the door.
Checked about 15 dealerships and they were the best.
 
#65
#65
MurphyVol said:
Side note- I just bought an Accord LX at Honda of Cleveland for 18,775. Tax, tag, etc= $20,0075 out the door.
Checked about 15 dealerships and they were the best.
Click to expand...

$200075 is a princely sum for an accord. 😉
 
#69
#69
Nerd-Vol said:
$200075 is a princely sum for an accord. 😉
Click to expand...

Really? The Civic 4-cylinder is their intro car... I could see that being on the high end for a Civic. But $20,000 for an Accord is usually what a bare bones base model costs (4 cylinder, no upgrades).
 
#70
#70
Rasputin_Vol said:
Really? The Civic 4-cylinder is their intro car... I could see that being on the high end for a Civic. But $20,000 for an Accord is usually what a bare bones base model costs (4 cylinder, no upgrades).
Click to expand...

I think he's commenting on the extra zero.
 
#74
#74
Good luck OP


My dad had the odyssey when my little brother was young. He loved them.

Granted he lives in Cali. :)


When I buy new ( I know this isn't relavent, I use the X plan through Ford.) usually saves me 6-10k off sticker. (Depending on vehicle)
OP may see if Honda offers something similiar. Maybe a family member that has connections.
 
#75
#75
Obsessed said:
Good luck OP


My dad had the odyssey when my little brother was young. He loved them.

Granted he lives in Cali. :)


When I buy new ( I know this isn't relavent, I use the X plan through Ford.) usually saves me 6-10k off sticker. (Depending on vehicle)
OP may see if Honda offers something similiar. Maybe a family member that has connections.
Click to expand...

What's the X plan? My Company has a buying program where I can get between $3K and $4K off sticker that I was planning on using.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top