Finance
American Honda Finance
American Honda is considerate of the privacy of our visitors and the individual sensitivities of personal information. At American Honda, we believe the confidentiality and protection of customer information is one of our fundamental responsibilities. Because privacy and consumer trust are important to us, we provide this privacy statement for you to explain our policies in detail. While information is critical to providing quality service, we recognize that one of our most important assets is our customers’ trust. Our goal is to protect your information.
Class action complaints have been filed alleging discriminatory practices against American Honda Finance Corporation, the lender for the Honda Motor Company; WFS Financial, Inc., one America’s largest independent auto loan lenders; and Toyota Motor Credit Corporation, the lender for Toyota Motor Company. The suits allege that these companies discriminated against African American and Latino customers by charging them a higher rate of interest on auto loans than what was charged to white customers who had comparable credit ratings.
The longer the term is to repay back the financing the smaller your monthly payments will be. This is a great way to make sure that you have low monthly payments on your car financing. However, the longer that you take to repay the car financing the more you will be paying in interest rates over the long term. If you are trying to repair your credit rating you’ll want to think about taking out the longer repayment so that you can budget for the smaller payments each month and so that you can build back your credit history by proving that you can make your payments each and every month.
