Honda financing rates on fits? 9%?
06-05-2009, 07:34 AM
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Honda financing rates on fits? 9%?
Across Canada (or at least this is what two dealerships both told me), the FIT has a rate at 9%. Meanwhile the civic is at 0.9%. Why would anyone buy a fit (unless you were paying cash upfront) ??? The civic is ALOT cheaper in the long run with such a vast rate difference. Some credit cards are at 12%... thats close to FITs rates.
Is this Hondas way of getting rid of a surplus of Civics???
Is this Hondas way of getting rid of a surplus of Civics???
06-05-2009, 07:53 AM
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no.
financing are usually based on credit rating of the applicant.
the civic .9% are promotional rates
fits don't need promotion to sell, they sell themselves off the lot
financing are usually based on credit rating of the applicant.
the civic .9% are promotional rates
fits don't need promotion to sell, they sell themselves off the lot
06-05-2009, 08:17 AM
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For anyone who doesn't care about the hatchback I can't see how the Fit sells. Really, the Civic is a nicer car and the mileage difference is small. The smaller footprint of the Fit is great in other countries but few places in the US benefit. If Honda made a Civic hatch I would never recommend a Fit. I wouldn't be surprised if Honda also understands this.
06-05-2009, 08:30 AM
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here in the states, ahfc is now offering $500 dealer finance cash.
and as mentioned above, the 9% rate you were quoted is based on your personal credit history/ rating.
in terms of the civic, there's 2.9% up to 36 mo and 3.9% for 37 mo through 60 mo.
and as mentioned above, the 9% rate you were quoted is based on your personal credit history/ rating.
in terms of the civic, there's 2.9% up to 36 mo and 3.9% for 37 mo through 60 mo.
06-05-2009, 08:43 AM
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No , 9% is not based on my credit history... as they never did a credit check on me. It is written on their rates paper that the salesmen carry in their clipboard. It shows the rates for all models for this month, and the fit is at 9%
06-05-2009, 08:50 AM
#7
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High interest is a great way to make money on a car whilst keeping the selling price low. Fits are popular, so if you need to finance and really want a Fit, you won't mind the $3k premium via interest. If everyone didn't love Fits or Honda had trouble movingthem, rates would be lower, like with Civics.
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06-05-2009, 09:32 AM
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yahh, I would shop around for interest rates either way. I don't like dealers getting in my business- I'd rather handle my loan ahead of time and take them the check when an overall price is settled. talking monthly payments and interest with a dealer is like pulling teeth