Financing

Honda Financing in Magog

For the most courteous, professional and advantageous services for Honda car financing in Magog, Eastman, Rock Forest, Compton, Coaticook and the Eastern Townships, the name to remember is Magog Honda. Apply for credit today and let our experts go to work getting you the best car loan and car credit plan for your needs, even if you need 2nd chance credit.

Financing Options

The financing of your Honda is determined by how much you will need to borrow to pay for the entire automobile, plus applicable taxes. Once financing is secured, you will then be required to pay back the amount you borrow plus interest, typically in equal monthly payments over a pre-arranged period of time.

The benefits of financing your vehicle with Honda Financial Services are

  • You are the owner of the vehicle.
  • All retail loans are open and you may pay out the finance contract at any time without prepayment penalties.
  • Simple interest method to calculate interest charges.
  • No kilometre charges.
  • No wear and tear charges.
  • You build equity.
  • Flexible terms.

Things to be taken into consideration

  • Once all the payments have been made, you own the automobile.
  • Monthly loan payments for the financing of your Honda 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.
  • 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 on our website.

Honda Financial Services options

Conventional Finance: With the Honda Financial Services regular program you can tailor the purchase of a Honda to reflect your individual needs. Your equal monthly payments are determined using competitive rates and 24 - 60 month terms. Together with the dealer you can work out the financing arrangements that suit your budget and your needs best.

Come and meet with one of our Honda financing advisors to learn more!

Leasing Options

Our dynamic team is well-qualified to advise you on the lease of a Honda in Magog.

Leasing is like renting; you only pay for what you use. Payments are based on the difference between the lease-end value and the vehicle cost plus lease finance charges. Taxes will be included in the monthly payment, and will not be calculated on the full cost of the vehicle.

Benefits of leasing a Honda vehicle with Honda Canada Finance Inc.

  • A new car more often: With lower monthly lease payments over a shorter period of time, you can drive a new vehicle more often.
  • Low monthly payments: Lease payments are traditionally lower than retail payments on the same vehicle.
  • Closed-end lease: You can choose to purchase the vehicle for a pre-determined price shown on your lease contract plus applicable taxes or return it without further obligation. If you decide to return your car, all you have to do is make sure you have not exceeded your kilometre limit, that any outstanding fines have been paid, and there is no excess wear and tear on the vehicle.
  • No Fees: Honda Canada Finance Inc. has no administration, early termination, end of lease or vehicle disposal fees.
  • Automatic GAP Protection: If your leased vehicle is involved in an accident, vandalized or stolen the vehicle may have to be written off. To insurance companies a "write off" means fair market value minus your deductible. Your insurance settlement may not always satisfy your monetary obligation. Our Future Value Lease offers you protection against these situations. The monetary GAP between your insurance settlement less your deductible and your lease obligation is covered automatically by our GAP (Guaranteed Asset Protection). Some conditions may apply. See your local dealer for details.
  • Flexible terms
  • Keep more cash to use or invest

Things to be taken into consideration

Insurance responsibility

You are responsible for insurance coverage. Required coverage typically is detailed in your lease agreement.

Lease down payments

Down payments are not required on a lease. In a lease situation, you may choose to make a down payment in order to reduce the monthly lease payments. Down payments on lease cannot exceed 30% of the Total Lease Price.

Cash due at delivery

Most lease agreements require a first monthly payment on delivery of the vehicle. A refundable security deposit and other miscellaneous fees.

Maintenance responsibility

You are responsible for having the automobile maintained and repaired. A maintenance schedule is outlined in the owner’s manual.

Excessive wear and tear

Determined at end of a lease; ie: dents, paint damage, missing equipment that was part of the vehicle, cracked or chipped glass, mechanical damage, holes, tears or burns to upholstery.

Allowable kilometres

The yearly kilometre allowance with Honda Canada Finance Inc. is 24,000. At lease inception, you can purchase additional kilometres.

Leased vehicle price (total vehicle price)

Gives you the transaction price and is also used to calculate your lease payment. While taxes are not included in this price, it does include all equipment, accessories, freight and dealership fees.

Total cost of lease transaction

The total cost of lease is the total monthly payments plus any amounts paid to reduce the cost of the vehicle; ie: cash down payment, vehicle trade-in plus applicable taxes, vehicle licensing and registration fees.

Lease rate and charges

The lease rate and associated charges are disclosed on our full disclosure contract.

Bad Credit - 2nd Chance Credit

Car shoppers know that for the most qualified alternative credit services in Magog and the Eastern Townships, Magog Honda is the destination of choice!

Whether you suffer or have suffered from from bad credit, no credit, recent bankruptcy, loss of employment, divorce, or any other situation which may have affected your ability to obtain car credit, we can help. Our specialists in alternative car financing can analyze your credit application in full confidentiality, and find the credit solutions which work best for you and allow you to restore your credit while acquiring the vehicle that’s right for you.

2nd chance credit is the perfect car credit solution for those who have experienced some credit problems in the past, and/or are looking to restore their credit rating while acquiring a quality vehicle. Whether you have bad credit or no credit, or have suffered through bankruptcy, loss of employment, divorce or any other situation which could adversely affect your ability to get automotive financing, we have the experts in place to advise you and help you find the credit solution tailored to your needs.

Browse our lineup of new Honda vehicles and our inventory of used vehicles, then fill out and submit our secure online credit application.