Can I save money by financing with Honda Bank?

Operating in Brazil since 2000, Banco Honda is responsible for the financing made by vehicles of the Japanese automaker. It is possible to buy a car from Honda by the automaker itself or by a traditional bank.

Generally, compared to traditional banks, automakers often work with lower average interest rates. If you are interested in Honda cars, you need to research the value of financing with the automaker itself, it will certainly come out cheaper than other banks.

Honda Bank does not have the lowest interest rate among automakers, which means that if you are not interested in a specific model you can find automaker banks with lower rates than Honda.

What are the auto finance interest rates offered by Honda Bank?

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According to data from the Central Bank of Brazil, the average rates charged by Honda are 1.95% per month and 23.40% per year, being the 4th lowest rate among automakers.

Comparing rates between Honda Bank and Chevrolet (GMAC), which has the lowest rates on the market today.

Considering a financing of a vehicle in the amount of R $ 25 thousand with a down payment of R $ 5,000 and a payment term for 36 months (three years), check the values:

Honda Bank (1.95% per month): $ 27,571.68 x Chevrolet (1.30% per month): $ 25,171.20.

A difference of R $ 2,400.48, not counting other fees charged by banks for vehicle financing, which can further increase the difference in values.

What are the conditions offered by Honda Bank for vehicle financing?

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The bank provides financing to individuals and companies. Documents vary by customer type, but everyone must register with Honda before applying for funding.

Unlike most companies in the industry, Honda only works with CDC (direct consumer credit) financing, and does not work with leasing. Check out the financing plan:

– CDC

Available to individuals and companies. Finance commercial vehicles. The payment period varies between 3 and 60 months (five years) and has the possibility of including insurance, armor and other accessories.

Other fees charged for financing at Honda Bank include:

– attestations and statements;

– copies of document;

– Registration in the company.

The rates are for both individuals and businesses.

For more details on financing, contact Honda Bank directly.

Another tip, besides looking for lower interest rates, is to negotiate even higher discounts with the bank manager. In the case of Banco Honda, for example, which does not have the lowest interest rate on the market, it can be argued that there are other banks with lower interest rates, which can guarantee you lower interest rates, a benefit especially for those who are very interested in buying a car. Honda car.

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