Car Financing FAQs in Yakima, WA

You’re one step closer to buying a vehicle like a Honda Pilot or RAV4, but you have questions about how the financing process works. No need to worry even further because this guide from our Harvest Honda team explains what some of the technical terms mean and how you begin the auto loan process. 

What Credit Score Do I Need to Finance a Car?

A favorable credit score for anyone looking to finance a car is usually between 661 and 850. However, having a rating lower than the estimated prime range doesn’t disqualify you from being accepted by a finance company. It’s true that a higher score often results in lower interest rates. Fortunately, credit can improve over time. If you’re in a position where you’re saving up cash, use some of your disposable income to stay current on credit cards or other things you’ve used your score to obtain. Doing so will gradually raise your rating. In some cases, you could cross over into a higher grade.

Is a Lease the Same as Financing?

While it’s close to financing, leasing works differently. With a finance contract, you’ll eventually own the Honda Civic or Accord. A lease is a temporary ownership of the car. Leasing usually involves borrowing a new car for a period between two and four years. Both financing and leasing require a down payment, but the latter requires less. That allows you to spread out your earnings and drive more efficiently in the Yakima area. There are also travel limits with a lease, meaning the company holding your contract will have mileage stipulations. These could come in 10,000-, 12,000-, and 15,000-package options, which renew every 12 months during your lease. 

Does Honda Have Finance Offers?

The Honda manufacturer, as well as our Harvest Honda, provides finance offers regularly. Our inventory is always growing, so our Finance Department is eager to provide deals to shoppers looking to find more cost-effective options. We comply with Honda’s discounts and create a few bargains of our own. You can get a preview of our latest deals by visiting our website and browsing through the Specials tab on the tab banner. Look through each of the listings to determine which discount will help you the most. Once you find the model that’s able to assist you on drives along Fruitvale Boulevard. That way, you’ll be more confident in your next investment. If you’d like to know about our latest deals, check out our current incentives online.

What Documents Do I Need to Finance a Honda?

To prepare for financing, you’ll need information such as a document showing your current address, proof of identity, proof of income, proof of auto insurance, and a down payment. We encourage you to have these on the day you plan on financing. However, you can get a head start by completing a Finance Application on our website. This sends a request to us, where we will use the information given to us to determine eligibility for an auto loan. Once you’ve been accepted, you’ll be able to start shopping for a finance company that has the interest rate that works for you. After all the information has been reviewed and the down payment is applied, the lender can cut a check on your behalf, and you can begin driving a Honda Passport or Accord off our lot and to locations like Lake Myron.