Why Buy or Finance?
When you pay for the entire cost of a vehicle, regardless of how many miles you drive it or how long you keep it, monthly payments are higher than for leasing. You typically make a down payment, pay sales taxes in cash or roll them into your loan, and pay an interest rate determined by your loan company based on your credit score. You make your first payment a month after you sign your contract. Later, you may decide to sell or trade the vehicle for its depreciated resale or trade value.
When you BUY, you pay the entire $20,000, plus finance charges, plus possible fees. You own the car at the end of your loan, although its value is less than the $20,000 you initially paid.
One of our Financial Services Managers would love to sit down and meet with you to go over our finance and lease options we can offer you! Contact one of our Financial Services Managers for more information or call 1-705-949-7222.
With the Honda Financial Services regular program, you can tailor your purchase to reflect your individual needs. Your equal monthly payments are determined using competitive rates and 24 - 84 (84 offered on new contracts, up to 72 on pre-owned) month terms. Together with the dealer, you can work out the financing arrangements that suit your budget and your needs best.
- Simple interest method to calculate interest charges
- PPSA registration fee
- No kilometre charges
- No wear-and-tear charges
Monthly loan payments are typically higher than monthly lease payments because you are financing the total cost of your automobile, which includes all applicable sales taxes and purchase price.
All retail loans are open and you may pay out the finance contract at any time without prepayment penalties.
You are responsible for insurance coverage. Required coverage typically is detailed in your financing agreement.
You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner’s manual.
