Monday, February 8, 2021

Honda Financing FAQ: Answers to Your Car Financing Inquiries


Most car buyers are unable to fully pay off the car upfront. Hence why they need assistance from our Honda financing center near Los Angeles, CA. As with financing of any major purchase, you’re going to have some questions regarding the logistics. Here are some of the most frequently asked questions our dealers answer on a daily basis.

How Much Money Can I Put Down?

There’s no limit to the amount you can put down for a down payment. The average down payment is between 10% and 20%. The more you can put down, the more you can shorten your loan term or monthly payment, thus keeping accrued interest at a minimum. 

Is a Loan Pre-Approval Necessary?

A pre-approval isn’t necessary, though we do recommend it. It helps you get acquainted with the financing options you may be eligible for. A pre-approval also puts more control in your hands as you can compare offers against your pre-approval rates.

How Much Can I Get for My Trade-In?

Various factors will determine the value of your trade-in vehicle. This mainly includes the car model and year. It also includes the overall condition. To get the highest value, have all issues under the hood fixed beforehand.

What Documents Do I Need to Bring to the Dealership?

Have your documents in order before stopping by our dealership. We’ll need to have a look at the following:

  • Driver’s license
  • Most recent bank statements
  • Proof of residence; any bill payments with your current address that matches the address on your driver’s license will suffice.
  • Payment (cash, credit card, money order, etc.) for the down payment
  • Vehicle registration if trading in your current car

Visit Keyes Honda when financing a vehicle in our new inventory, such as the Honda Civic and more. Our finance department makes the purchase process as straightforward and hassle-free as possible.

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