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Honda Finance

Cruise around in the Honda you want and learn about the financing options to help you get there.

Courtney Allan
Courtney Allan

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From humble beginnings in a Japanese garage in the 1940s, Honda has come a long way. The company has firmly committed to a line of strong, sleek and safe vehicles associated with the Honda name. Whether it's the Honda Civic that's caught your eye or the CR-V SUV that has you longing, it's understandable considering Honda's standard of excellence.

Vehicles start from a cool $15,990 if you want to zip around in a Honda Jazz or rise as high as $51,781 if you want the people mover Honda Odyssey. Read on to figure out how to turn your Honda dreams into a reality.

What's in this guide?

  1. How can you finance a Honda?
  2. Compare the Honda finance options below
  3. How much will a Honda loan cost?
  4. How do you decide how to finance your Honda?
  5. Frequently asked questions about financing a Honda

How can you finance a Honda?

There are a range of finance options to choose from in order to fund your Honda dreams. Some of the options include:

  • A secured car loan. A secured car loan offers lower interest rates as the vehicle you want to buy is secured against the loan. Minimum amounts for secured loans start from $3,000 and go as high as $100,000. Considering the Honda Jazz starts at $15,990, keep this in mind while looking for loan amounts.
  • An unsecured personal loan. An unsecured loan, while having higher rates, offers simple approval criteria and allows you to purchase a used Honda or a Honda that isn't covered by secured finance. Interest rates for unsecured personal loans generally range between 8% p.a. and 18% p.a.
  • Dealership finance. Honda offers a range of personal finance options that can cater to whatever vehicle you wish to purchase. Business finance is also available, which covers a chattel mortgage on the entire range of vehicles as well as the option to choose a novated lease.
  • Novated lease. A novated lease is where you, your employer and a financial institution bundle together the costs of your vehicle and allows you to pay for them using pre-tax dollars.
  • Chattel mortgage. A chattel mortgage is tailored towards business vehicles. Vans are usually your first thought, but other Honda cars can fill in the void of a business car. A chattel mortgage is where the customer takes ownership of the vehicle when they've purchased it, but the loan company takes out a mortgage over the vehicle as security.

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Compare the Honda finance options below

Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
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IMB New Car Loan
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
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Latitude Personal Loan (Secured)
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
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Wisr Secured Car Loan
Wisr Secured Car Loan
From 5.19% (fixed)
5.46%
$5,000
3 to 7 years
$195 (Includes PPSR registration and private sale fee, if applicable)
$0
You'll receive a personalised interest rate from 5.19% p.a. to 17.69% p.a. based on your risk profile
A flexible car loan from $5,000 - $50,000 with personalised rates and rewards for strong credit customers.

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NRMA New Car Loan
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p. a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
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Plenti Car Loan
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
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Credit Concierge Car Loan
Credit Concierge Car Loan
From 3.99% (fixed)
5.08%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.99% p.a. with a comparison rate of 5.08% p.a.
Get access to over 20 providers to fund a new or used car.

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Stratton Finance New Car Loan
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 4.05% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
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NRMA Used Car Loan
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
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NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed
From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
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SocietyOne Car Loan
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
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Symple Loans Personal Loan
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
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How much will a Honda loan cost?

As the prices range from $15,990 to $51,990 throughout the Honda range, the loan you take out in order to purchase a Honda will also vary. It's important to keep in mind the loan terms you've applied for and the interest rate, as this will impact how much interest you owe over time.

It's also ideal to consider the costs of running a vehicle, which include the cost of fuel, insurance and registration. Another cost to consider is the fees that are associated with your loan. This includes monthly fees, transaction fees and late repayment fees.

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How do you decide how to finance your Honda?

Making a decision on what finance option to go with can be tough. Some of the features to look out for include:

  • The interest rate. The interest rate you need to keep an eye on is the comparison rate as this is the total cost of the loan per year. For example, if a car loan is offering a 5.64% p.a. interest rate but the comparison rate is 5.99% p.a., focus on the second rate as that is what the loan will cost you in interest as well as fees.
  • Fees (upfront and ongoing). Many loans require an application fee in order for your application to be considered. The application fee varies across lenders, and some will waive the monthly fee if they have a particularly steep application fee. Other fees to look out for include monthly fees, late repayment fees and transaction fees.
  • Repayment flexibility. Whether or not a loan allows you to tailor your repayments to your pay schedule is another feature to look out for. Some lenders offer weekly, fortnightly or monthly flexibility whereas others might only offer monthly. Keep an eye out!
  • Balloon payments. When your loan term ends, you are required to pay the remaining balance on the loan. This is a balloon payment.

Frequently asked questions about financing a Honda

Should I get a new or a used Honda?

Ultimately, that is up to you. There are benefits to buying used and buying new. If you buy used, it's cheaper and you can get a history of the car. If you buy new, you're the only person to have owned that car.

What loan provider should I go with?

Again, this is up to you. Make sure to compare your car loan options using the features outlined above and also check the eligibility criteria to find the right lender for you.

Can I get a used Honda on a secured car loan?

Some secured car loans will allow you to get a used car, but this comes with car age restrictions. For example, with some providers, you are able to get a vehicle that is up to two years old whereas others have a higher car age limit of five years. It varies from lender to lender.
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Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

More info
Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

More info
Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

More info
Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

More info

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