Does Honda Offer Zero Financing? (Requirement and Processes 2022)

Yes, Honda offers zero financing like most other vehicle manufacturing brands. So, anyone having an excellent credit rating can log in to the company’s website and apply for the 0% APR loan online which is available for both new, used, and certified pre-owned models.

Honda also offers the facility of credit checking for approval on its website. However, zero financing is available for the selective models and selective customers.

Selective Models

It has been some time since other car manufacturing companies, like Tesla, have launched zero down payment and zero-interest deals but Honda has just recently hopped into the bandwagon.

Honda is now offering zero percent APR financing on selective models to specific customers who qualify on set criteria.

It is to note that Honda offers are rapidly changing, often monthly, according to market demands, so it is advisable to visit their website before purchasing. Zero percent APR financing is currently available for eight Honda models, as follows.

  1. 2020 CR-V : 0% APR for 48-60 months
  2. 2021 CR-V : 0% APR for 24-48 months
  3. 2020 CR-V CVT Hybrid Touring : 0% APR for 48-60 months
  4. CR-V Hybrid : 0% APR for 24-48 months
  5. 2021 HR-V : 0% APR for 24-60 months
  6. 2021 Odyssey : 0% APR for 24-48 months
  7. 2021 Pilot : 0% APR for 24-48 months
  8. 2021 Ridgeline : 0% APR for 24-36 months

Selective Customers

As you see, 0% APR Honda financing is available for a few models, and the duration of the loan ranges from a minimum of 24 months to a maximum of 60 months, i.e., from 2 to 5 years. This period can extend up to 72 months, but the APR rate would increase accordingly.

However, Honda financing is not for everyone. This special offer can only be availed by buyers who have excellent credit scores.

Honda does not specify any credit score requirement, but generally, 620 is considered a minimum requirement, and any score between 720 to 850 is considered ideal.

Pros and Cons of Honda Zero Financing


  • A 0% APR financing is a must-avail opportunity for everyone who has an excellent credit score.
  • Honda Financial Services is convenient as the complete process from choosing the desired vehicle, applying for the loan, and checking for approval can take place from the comfort of your room.
  • Honda offers 0%, 0.9%, 1.9%, 2.9% APR deals. If not 0%, then getting approved for a 0.9% or 1.9% APR is still better than the rate offered by banks and traditional sources of finance.
  • You get possession of your Honda without having any mileage restrictions.
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  • Honda offers are rapidly changing with market demand, so we can’t say for sure how long a 0% APR offer would last.
  • Zero percent APR financing is not applicable for well-known models like Civic and Accord.
  • Zero financing is only designed for an excellent credit score population.
  • You might have to visit several dealerships to finalize the loan agreement.

Alternate financing options

Following options can be considered while financing for the Honda vehicle.

  1. Lease
  2. Cash Rebate
  3. Loan

1- Lease

Leasing provides you with the benefit of using a vehicle for a particular period by paying monthly. As an advantage, you don’t have to pay the vehicle’s full price even though you are using it.

But as a disadvantage, you have to pay half of the price in three years and use less than half of it.

Furthermore, Honda allows a 12,000 to 15,000 annual mileage for an auto leased for 24-36 months. If the vehicle travels more than the allowed mileage, additional charges are incurred at $0.15 per mile.

Upon completion of the lease duration, you can either buy, return, or exchange the leased vehicle. ‘Loyalty rewards’ are also issued for leased cars under certain terms and conditions.

2- Cash Rebate

A rebate is a return to someone who has purchased a certain quantity of something or paid a certain amount of tax or utility bill. Honda uses rebates as a medium for sales promotion.

For instance, Honda offers a $500 cash rebate to members of the military and a $500 cash rebate to college students. However, you need to be a current student or recent graduate to the avail student discount.

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Similarly, a rebate of $1,000 is granted if a person buys or leases a new Honda within 30 days of returning in a previously leased Honda. A cash rebate is a good option if you want cash now and you are not planning to own the Honda for a long time.

3- Loan

Banks, third-party financiers, and manufacturers themselves grant auto loans so that customers can comfortably pay the total amount of a vehicle in small installments over some time. It benefits the customer as it eliminates the need for making big cash transactions.

Also, possession transfers after making the down payment, and remaining payments can be made over 2 to 5 years.

But then, loans granted at a higher interest rate reduce the charm of such financing. To kill two birds with one stone, Honda has introduced zero-percent financing as discussed.

Further, there can be the following alternative strategies to raise financing for the purchase of Honda.

Alternatives for Honda Financing

The Bank of America and Light Stream are two other lending institutions.

  • Bank of America offers loans at 2.44% for a duration of 12 to 75 months. It does not mention a minimum credit score requirement, but banks usually conduct a hard credit inquiry making it necessary for the buyer to have a good credit history.
  • Light Stream is also a national consumer lender which offers loans at 2.9% APR for 36 to 84 months. The APR rate is the highest, and loan duration is the longest here. It offers unrestricted loans for any model or dealership for persons having a credit score above 660. So, it’s important to note that a light stream enables a buyer to opt for different financing options.

The information should be helpful if you intend to opt for financing via Honda. But, what makes Honda a champion in the automobile industry.

So, what makes Honda a great company?

The biggest name in the world automobile manufacturers, Honda motor company, has made dreams a reality through its intelligent technologies and continuous growth since 1959.

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Provided Honda’s status in the market and the demand for its vehicles, the price charged is understandable. Further, Honda has launched several financing plans to make its products more affordable.


Honda does offer rare and limited zero financing. Depending on one’s needs and circumstances, this could be the best opportunity. To qualify for zero financing, one needs to have a good credit score. However, zero financing is only applicable to the selective models and the selective customers.

Further, zero financing is available on limited models like Hybrid, Odyssey, Pilot, Ridgeline, etc. Likewise, financing terms mostly range from 12 months to 60 months. However, it can extend to 72 months as well.

Other than 0% APR, there can be other financing options. These options include leasing, cash rebate, and loan. Likewise, an alternate financing option can be raising a loan via a bank of America and Light Stream.

Frequently asked questions

What is the difference between leasing and financing a car?

Financing is a general term. It means buying something on credit or making arrangements in which payment is not made instantly. On the other hand, leasing is a type of financing in which interest is charged on the outstanding balance. Likewise, interest and capital repayment are made in the rentals when you enter into a lease arrangement.

What are the general requirements for getting approval of Honda financing?

  1. A good credit score as it helps them in assessing your finance management.
  2. Proof of income as they want to ascertain if you can maintain a car.
  3. Down payment is required depending on the type of deal.

Is there any minimum credit score for financing a Honda car?

Generally, a credit score of 610 or higher is required for financing a Honda vehicle. A higher credit score leads to higher chances for approval.

Is financing a car a good idea?

Financing a car can be a good idea as it enables buyers to get ownership with a limited amount in hand. Further, it can be a great option if you have a higher earning potential.