Honda helps qualified Meridian customers by pushing back their first payment
By Product Expert | Posted in Dealership News, Helpful Advice on Tuesday, April 14th, 2020 at 8:50 pm
How do Honda deferred payments work?
The onset and continued threat of COVID-19 has forced most Americans to change the way we go about the most basic parts of our lives. While many businesses have been forced to close, hopefully only temporarily, Meridian Honda remains open for sales and service. Our team has implemented some new services that will keep you safe by keeping at home and allowing us to bring the Meridian Honda experience to your door. Our manufacturing partner has also launched a program* that could help well-qualified buyers get the new vehicles they need during these uncertain times. So, how do Honda deferred payments work? Let’s take a look.
READ MORE: When will the coronavirus lockdown end?
What does ‘No Payments for 90 days’ mean?
Honda is helping Meridian Honda customers who buy certain new models by putting off their payments for 90 days. This will help buyers make sure that their income will remain stable before they have to worry about making their first payment on their vehicle loan. It’s important to point out that not everyone will qualify for this program.
Buyers who will qualify for the Honda deferred payment program will need to have a credit score near the top of the range. That means people who have fallen on hard times or have gone through a vehicle repossession might not qualify. While people in those circumstances might not be able to use this program, there could be other incentives available to them.
More Important Information
In order to take advantage of the Honda deferred payments program, a Meridian Honda customer needs to get financing approved through Honda Financial Services. Also, while an owner’s first payment is pushed back, financing charges and/or interest will continue to accrue on the loan.
If you have any questions about how the Honda deferred payments program will work, contact the Meridian Honda showroom today by calling, 601-693-4651.
*Deferred payment on the purchase of all-new Honda models. For well-qualified buyers. Offer excluded in Florida and Pennsylvania. Subject to availability through 5/4/20 on all new and unregistered Honda models on approved credit through Honda Financial Services. 90 days to provide the first payment. Finance charges will accrue on the full amount financed during deferment. See participating dealers for details.