Honda operates a financial services department that offers buyers financing when purchasing a new Honda vehicle. Buyers also obtain financing for Honda cars by working with a local bank, an online financing specialist or through a automotive rating and guideline site such as Edmunds.com.
The type of auto financing a buyer chooses when purchasing a Honda depends on her credit score and available funds. A buyer with good credit is able to obtain a shorter term loan with lower interest rates, compared to someone with bad credit, because she has a history of paying off loans and isn't a financial risk. A buyer with more cash on hand is also able to get a better loan because she doesn't need to borrow as much money.