Redline

Anyone know if Acura has anything for recent college grads working in their field or first time buyers? I know w. Honda you automatically qualify for their best financing rates regardless of credit score.....my dealer told me that to get their best financing, you need at least a 725, and im right on the line of that so i dont know what will happen between now and when my baby actually arrives so id like to have some leway if possible......anyone know? thanks...

conant

My credit score was just slightly less than that, and all I was offered was 9%, I was told (I do not know if he was joking, at the time I did not think he was) that since I was just out of school (Dec. 2003) how would they know if my parents were actually paying my credit cards for me. I only have one credit card but a high score and even though I put more than half down that was the lowest he could go. I was offered 3.9% at MB and that I would not buy the TSX with that high of a rate. He called his boss and they asked for a copy of my paycheck, and then offered me 5.14% which I was happy with.

So long story short, you have some leway (sp?) but they do not just give it to you.

AJB_RENAMED

Besides the actual credit score, other things are factored into the decission. You need to have somewhat long credit history (5+ years). You also need to show a stable employment history as well as a stable bank and address history.

AHF does not base the decission on score alone. They have there own system that facotrs credit score and various other factors to determine what rate you will qualify for.

I don't know where you head you qualify for Honda's best rate no matter what your score is... this is not true. Acura and Honda both use AHF (American Honda Finance) as there primary lender. If you don't qualify for AHF they will "farm" out the application/loan to other banks to try and get your loan approved.

justinjsw

Honda Financial Services Graduates program...

Credit Requirements*

No adverse credit history

Verifiable proof of employment, or a firm commitment from an employer with a start date no more than 120 days from the date of the finance contract.

Verifiable proof of current income such as recent pay stub, tax return or letter from employer.

Document Requirements*

Copy of diploma or copy of college transcripts with proof of graduation eligibility.

Valid driver's license.

Copy of social security card.


*Graduate with a Master's, Bachelor's or Associate's degree from a U.S. accredited college or registered nursing school.

*Have graduated in the last two years or will graduate in the next four months.

*Vehicle payment for your new or pre-owned Acura should be less than 20% of gross monthly income. A 5% minimum down payment is required.