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Discussion Starter #1
After 2 months of waiting, I finally got a call from my dealer saying it is here 1 wk ahead of schedule, and ready to be picked up today or tomoroow. :)

While discussing financing (buying not leasing), the dealer said he can find a good deal on it than would. So after taking down bunch of info, he came back with 3.75% (up to 60m).

I just happen to saw on an ad from another dealer in the area (white plain, NY) saying that 0% financing on ALL Honda model.

Does anyone know that if this is a Honda sponsored deal? If so, then I should be able to get it from my dealer?

Thanks in advance.

Marko
 

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currently honda only has the 1.9% on Civics, atleast deals visible to customers. However the dealers can always do wheeling and dealing and get deals.

But you have to see the net difference...is the 0% dealer giving at the same proce as the on you are getting from...or is there ia catch to just get you in to their dealership:3:
 

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Check the fine print on that 0% deal. Most times, 0% is only offered for 36 months. 48 and 60 months will have incremental increases but most times will be good rates.
 

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They'll match it

My bro went thru the same experience when he got his Odyssey on X-mas eve. Honda had a 3.9% financing up to 60 months but not all dealerships advertised it. As a matter of fact, all dealers will play dumb to such offerings from Honda b/c they want to get you @ the higher rate. They get incentives for this.

What he did is he brought the ad from the dealer that advertised it and made his dealer match it. Of course his dealer played dumb and insisted that he wouldn't qualify. My bro said "BS" b/c he knows his credit is very good and would walk out if they don't match it. Only then, his dealer matched the 3.9%.

You can do the math. If you think you'll qualify for 0% and the dealer won't match it, walk away. You'll lose $500 of yours $1000 dep but you'll probably save over $2000 on financing. I'm pretty sure the dealer won't let you walk away. There's a loan calculator on www.bankrate.com web site.

Also, you can go to Honda.com web site and apply for the pre-approve loan. If they have this promo going, then you can ask them and see if you're qualify. It takes alot of haggling with the dealership away.

I agree w/ Aggie's reply, the 0% is probably for much shorter term - 36 months likely.
 

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The dealer may have 'bought the rate down' to entice some new buyers. I read an article once about the psychology of buyers that are pursuaded by 0% interest, no payments for a year, etc, etc. and lo and behold, on average, they didn't get any better deal than the person that negotiated hard on every point of the deal.

I wish I could remember the name of that journal, it really had some freaky stuff in it like how color affects your spending, how different scents make you spend more or less money (take a close wiff @ Treasure Island's front door as the air pressure difference is so high there you can actually smell it-ahh Pina Coladas, warm sandy beach...), flooring patterns, etc. I used to work for a casino developer and they were really into those kinds of things.
 

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Discussion Starter #6
Here is the scoop

So I called the said dealer w/ 0% advertised. Told that it was NOT Honda related (and therefore, it is subsidized by the dealer); and the bottom line is you have to pay more for the car, so it is close to be a wash. Oh Well. I will stick to my original dealer, who has my car on the lot!

At least, folks should know that the true market rate for loan has apparently come down recently by about .25% to around 3.75%.
 

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0% advertised here in CT

mdc39,
I just saw Fair Honda in Danbury advertised 0% for 60 months on any model! I think there is a Honda promo going on. They don't last very long and are very hush hush. The 3.9% that my bro got back in X-mas only lasted for 3 weeks. And w/in that 3 weeks, maybe a couple of dealers advertised them. Call Honda Finance and asked them directly. You can get the phone # on their web site Honda.com.
 

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Re: 0% advertised here in CT

Hondanomore said:
mdc39,
I just saw Fair Honda in Danbury advertised 0% for 60 months on any model!
Correction. It was Brewster Honda in NY, 10 miles from Danbury, CT that advertised the 0%.

It's ONLY valid until 3/3! Act fast.
 

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Discussion Starter #9
That's hard to believe--because I got the car from Brewster Honda, and they swear that there is no special deal. I got 3.74% from Chase, as I said. Wondering if, like the other dealer in White Plain, they are playing tricks of jacking up price but giving 0%?

In any case, I picked it on Saturday. It is so nice, and I love the interior. Drive much nicer than my Landcruiser. :)
 

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Honda has never, in my short two years, offerred anything less then 3.99%. Chase Manhatten had a 3.74% that is now gone. If you see an ad for a new Honda at 0%, it will be a dealer sponsered deal and will no doubt either jack up the price or require one to pay MSRP (exp. Pilots and Odysseys would be MSRP+ while Civics and Accords would be MSRP) Reason being is the dealer has to "buy down" the rate. Hope this may clear up any questions.

Relax and know that Hondas incentive to purchase a Honda is the car itself!!!
 

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First time on your site..but I purchased an MDX from Devan Acura in Norwalk and got 2.99 2/22! It was ofered to me and I took it-I/m sure the deal will be back soon so hang in there. BTW do you have a long wait from order till delivery? Some of the X's are 3 month wait and a friend might be interested in a pilot since it's a few bucks cheaper.
 

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We just got our Pilot 2/21/03 with 4.99 financing at the dealership. There was a special for 3.49 percent in January so I wonder if Honda will bring it back again.
 

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hubby45251 said:
Honda has never, in my short two years, offerred anything less then 3.99%. Chase Manhatten had a 3.74% that is now gone. If you see an ad for a new Honda at 0%, it will be a dealer sponsered deal and will no doubt either jack up the price or require one to pay MSRP (exp. Pilots and Odysseys would be MSRP+ while Civics and Accords would be MSRP)
Hmmm... I thought I remembered seeing *national* 0% ads in fall/winter of 2001. I remember because it was a few months after I took advantage of a special 5.9% rate (well, it was special at the time! :rolleyes: )
 
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