Honda Financial Services Receives Highest Ranking in Non-Luxury Loan

**webby** · 02-08-2006, 12:12 AM

Honda Financial Services Receives Highest Ranking in Non-Luxury Loan Satisfaction

By American Honda Motor Company
Wed, 1 Feb 2006, 15:55:00

Torrance, Calif. 02/01/2006 -- Honda Financial Services received the highest ranking in the non-luxury loan segment in the J.D. Power and Associates 2005 Consumer Financing Satisfaction Study(SM).

In addition to receiving high marks in payment/billing, provider offering and application/approval process, Honda Financial Services is one of the only captive finance providers to improve in the non-luxury loan segment compared to 2004. Honda Financial Services also now sets the benchmark in satisfaction with the competitiveness of non-luxury loan interest rates.

"We are honored and proud of this recognition as it is a testament to the hard work and dedication of our associates," said Stephen E. Smith, senior vice president of Honda Financial Services. "Since focusing on our customers is part of the worldwide Honda DNA, it's great to see that we are enhancing their ownership experience. Now we need to maintain this momentum."

With a score of 811 points (out of a possible 1,000), HFS was one of the only captive finance providers to improve in the non-luxury loan segment compared to 2004.

The study also finds that the proportion of leases to loans has increased for the first time in five years. Among non-luxury buyers, 22 percent leased their vehicles-which is four percentage points higher than in 2004.

"As interest rates increase and installment financing becomes more expensive, customers will naturally move to leasing," said Smith. "With attractive rates and residuals along with an excellent off-lease vehicle management process, we have the lease and loan programs to meet the needs of any customer."

About Honda Financial Services
Honda Financial Services, a dba of American Honda Finance Corp. (AHFC) and a wholly owned subsidiary of American Honda Motor Co., Inc., helps to satisfy the financing needs of consumers of Honda and Acura automobiles, sport utility vehicles, truck and minivans, Honda motorcycles, Honda power equipment and Honda marine products. Honda Financial Services currently has over 2.9 million consumer finance customers representing a $40 billion portfolio.

For more information about the study, see the J.D. Power and Associates press release at www.jdpower.com.

**Silver8th** · 02-08-2006, 01:59 AM

well where I bought my Honda their financial department lied to me. First told me I qualified for Honda financing then set me up through someone else for a much higher intrest rate than what Honda financing was offering and what I got from a credit union. So my car has been bought buy 2 diffrent banks within 1st month of ownership, because one of Honda's stupid financal services.

I'd suggest to everyone try and get a loan at a credit union or equity line before giving Honda anymore money.

Sunroro · 03-31-2006, 01:10 PM

Yes, I agree with you. I had a similar situation. I wonder if the credit/financial department of the dealer gets any commission from the banks that the dealer has agreetment with. I finally got the loan from the credit union, which gives me a much much better APR.

Quote:

Originally Posted by Silver8th

well where I bought my Honda their financial department lied to me. First told me I qualified for Honda financing then set me up through someone else for a much higher intrest rate than what Honda financing was offering and what I got from a credit union. So my car has been bought buy 2 diffrent banks within 1st month of ownership, because one of Honda's stupid financal services.

I'd suggest to everyone try and get a loan at a credit union or equity line before giving Honda anymore money.

**Silver8th** · 03-31-2006, 03:32 PM

Quote:

Originally Posted by Sunroro

I wonder if the credit/financial department of the dealer gets any commission from the banks that the dealer has agreetment with. .

Im sure they do.

seattlecivic · 09-06-2006, 02:36 PM

4.75 interest on my car... woot. Navy Federal baby!

When I got my 03 Si back in the day I got the Honda 1.9% for 60 months. That was beautiful!

02-08-2006, 12:12 AM	#1 (permalink)
webby Acorns! Join Date: May 2005 Location: Storage Room B Posts: 13,089 iTrader: 11 / 100%	Honda Financial Services Receives Highest Ranking in Non-Luxury Loan Honda Financial Services Receives Highest Ranking in Non-Luxury Loan Satisfaction By American Honda Motor Company Wed, 1 Feb 2006, 15:55:00 Torrance, Calif. 02/01/2006 -- Honda Financial Services received the highest ranking in the non-luxury loan segment in the J.D. Power and Associates 2005 Consumer Financing Satisfaction Study(SM). In addition to receiving high marks in payment/billing, provider offering and application/approval process, Honda Financial Services is one of the only captive finance providers to improve in the non-luxury loan segment compared to 2004. Honda Financial Services also now sets the benchmark in satisfaction with the competitiveness of non-luxury loan interest rates. "We are honored and proud of this recognition as it is a testament to the hard work and dedication of our associates," said Stephen E. Smith, senior vice president of Honda Financial Services. "Since focusing on our customers is part of the worldwide Honda DNA, it's great to see that we are enhancing their ownership experience. Now we need to maintain this momentum." With a score of 811 points (out of a possible 1,000), HFS was one of the only captive finance providers to improve in the non-luxury loan segment compared to 2004. The study also finds that the proportion of leases to loans has increased for the first time in five years. Among non-luxury buyers, 22 percent leased their vehicles-which is four percentage points higher than in 2004. "As interest rates increase and installment financing becomes more expensive, customers will naturally move to leasing," said Smith. "With attractive rates and residuals along with an excellent off-lease vehicle management process, we have the lease and loan programs to meet the needs of any customer." About Honda Financial Services Honda Financial Services, a dba of American Honda Finance Corp. (AHFC) and a wholly owned subsidiary of American Honda Motor Co., Inc., helps to satisfy the financing needs of consumers of Honda and Acura automobiles, sport utility vehicles, truck and minivans, Honda motorcycles, Honda power equipment and Honda marine products. Honda Financial Services currently has over 2.9 million consumer finance customers representing a $40 billion portfolio. For more information about the study, see the J.D. Power and Associates press release at www.jdpower.com.

02-08-2006, 01:59 AM	#2 (permalink)
Silver8th Join Date: Sep 2005 Posts: 6,656 iTrader: 4 / 100%	well where I bought my Honda their financial department lied to me. First told me I qualified for Honda financing then set me up through someone else for a much higher intrest rate than what Honda financing was offering and what I got from a credit union. So my car has been bought buy 2 diffrent banks within 1st month of ownership, because one of Honda's stupid financal services. I'd suggest to everyone try and get a loan at a credit union or equity line before giving Honda anymore money. __________________

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09-06-2006, 02:36 PM	#5 (permalink)
seattlecivic Senior Member Join Date: Aug 2006 Location: Seattle, Las Vegas, San Diego Posts: 131 Jimmy iTrader: 0 / 0%	4.75 interest on my car... woot. Navy Federal baby! When I got my 03 Si back in the day I got the Honda 1.9% for 60 months. That was beautiful!