Where’s the Best Place for Vehicle Finance in Miami?

Did you find the ultimate car or SUV? Whether you’re ready to command a new or used vehicle, your next step involves finding the right financing plan—and you’re at the right place for the job. Our team is here to help you score the best terms for your situation and budget, and in many cases, we even outdo the banks. Stick with us today as we walk you through the basics about financing on new and used vehicles—and visit the Honda of South Miamifinance center in South Florida to apply for financing today.

But First…How Does Financing Work?

Auto financing is usually an auto loan you’ll sign up for that works as the name implies. Just like other types of loans, you’ll start by making a down payment followed by a series of lower monthly payments until you fully pay off the vehicle that has your eye.

However, before you make your move, you’ll want to familiarize yourself with a critical number first—and that’s the annual percentage rate (APR). This figure is your interest rate, and it’s usually determined by your credit history, your down payment, term length, loan type, and the age of the vehicle. Plan this number carefully, as it can add quite a bit to your overall total. For example, let’s assume you’re taking out a $30,000 loan for a new Passport. With a 3.00% APR and no down payment, selecting a five-year term instead of a four-year term lowers your monthly payment by roughly $125 at first glance—sounds good so far, right? However, when you calculate interest into the equation, you’ll pay $900 more from the APR when the loan ends, which can impact your budget heavily. So, plan this number out—and play around with our payment calculator to get an idea of how your interest rate works with your financial plan.

How Do I Apply for Financing?

Now for the big question—where can you go to apply for your loan on your new or used car? We make this step easy by letting you get pre-approved from the comfort of your couch. Within minutes, you’ll answer a few basic questions and receive an idea of the type of financing you qualify for—all without harming your credit score. Next, you can check out our online inventory to help find the vehicles that fit your budget—even value your trade and see if you can help fit your dream car into your budget.

When you’re ready to make your move and apply for financing, contact us, and a member of our team will help set you up with virtually every tool you’ll need to drive home in your next car.

Epic Car Financing Starts Now: Choose Honda of South Miami

When you find your dream car, don’t hold back—instead, make your drives a reality by applying for financing with Honda of South Miaminear Palmetto Bay, FL. We’re also here to answer your car financing questions, so feel free to ask us about any numbers or for assistance with filling out the forms, and we’ll help in any way possible.