Honda Financial Services FAQ

Whether you choose a brand-new Honda model or a pre-owned vehicle, you’re likely to need some guidance through the Honda financial services process. Thankfully, our friendly associates are prepared to walk you through financing or leasing your perfect Honda car, SUV, or truck. Here are some answers to frequently asked questions about Honda financial services.

What is Financing?

Unless you plan on buying your new vehicle with a lump sum of cash, financing is a great option for making your purchase affordable. Once you submit a down payment, our finance experts can show you all the options for making monthly payments until you own your car or your lease expires.

How Do You Determine My Monthly Payment?

Your monthly payment depends on a few factors:

• The amount of your down payment
• The number of months in your finance term
• Your credit score and history
• The interest rate for your loan

When you visit Serra Honda of Champaign, our team of professionals will gather your information and walk you through your loan term length, interest rate, and other factors to find the best financing deal.

How Long is a Car Loan?

You and your sales associate will determine the best loan term length to suit your needs and means. Typically, a shorter term (12-36 months) means higher payments, while longer loan terms (48-84 months) will have a smaller monthly payment. However, that longer term keeps you paying for up to seven years — but don’t worry. You may be able to pay it off early and trade your Honda vehicle in before the term is over.

How Do I Start the Financing Process?

Once you’ve found your perfect Honda vehicle, just fill out an online application or sit down with one of our professionals at Serra Honda of Champaign. Be sure to bring your driver’s license or ID, proof of income, proof of residence, and any insurance documents you may already have.

Schedule a test drive today and get the ball rolling with Honda financial services!