Honda Financial Services Auto Loan

Honda Financial Services Auto Loan Review

Honda Financial Services Auto Loan is offered by Honda Financial Services, a financial services company founded in 1980 and based in Torrance, CA. Honda Financial Services Auto Loan is available in 50 states (and Washington, DC).

What APR does Honda financial offer on its car loans?

Honda financial offers a fixed apr car loan product that ranges from 1.9% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with Honda financial?

Honda financial has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.

Does Honda financial charge an origination fee?

Yes, Honda financial may charge a loan origination fee.

Does Honda financial charge a late fee?

Yes, Honda financial charges borrowers with a late payment penatly fee

Does Honda financial charge prepayment fees?

Yes, Honda financial does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Honda financial loan?

Yes, you can. However, Honda financial charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for Honda Financial Services Auto Loan?

Applicants with a credit score of at least 650 and up to 850 may be eligible for Honda Financial Services Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Honda Financial Services Auto Loan does not have or does not disclose a minimum annual income eligibility requirement. Honda Financial Services Auto Loan only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members are eligible to apply for a loan via Honda Financial Services Auto Loan. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan via Honda financial?

Honda financial will typically approve (or deny) a car loan application within 24 hours and fund the car loan within 7 business days of approval.