Compare Honda car loans and financing options

Since its introduction to Australia in 1969, Honda has built a reputation as a reliable, affordable and innovative car manufacturer. Its range of vehicles meets the needs of many, from zippy hatchbacks to roomy eight seaters and everything in between.

If you’re in the market for a new car and there’s a Honda model you’re interested in, you can visit one of the 100+ Honda dealerships nationwide.

Honda’s highly regarded range of passenger vehicles include:

Honda Jazz 

Packed with technological features, the Jazz is a hatchback designed to maximise its use of available space.

• Models offered: VTi, VTi-S, VTi-L
• Prices from: $20,775

Honda City

Labelled as a light sedan, the Honda City was created for urban living and driving.

• Models offered: VTi, VTi-L
• Prices from: $19,230

Honda Civic

Offering both hatchback and sedan options, the Civic has a bold and innovative design with sleek lines and refined features.

• Models offered: VTi, VTi-S, VTi-L, RS, VTi-LX
• Prices from: $25,878

Honda Civic – Type R

A high-performance version of the Civic, the Type R was designed to challenge what’s possible in a compact hatch.

• Prices from: $57,674

Honda Accord

A deceptively roomy sedan with interiors inspired by a concert hall, the Honda Accord features a sporty look and luxurious design.

Honda HR-V

A high riding, compact yet spacious SUV to suit an urban lifestyle, the Honda HR-V bridges the gap between urban and off-road performance.

• Models offered: VTi, VTi-S, RS, VTi-LX
• Prices from: $29,380

Honda CR-V

The ultimate adventure-ready family SUV of the Honda vehicles, the CR-V was designed to provide safety, storage, and connectivity.

• 2WD models offered: Vi, VTi, VTi-E7, VTi-S, VTi-L7
• AWD models offered: VTi-S, VTi-LX
• Prices from: $31,749 for 2WD, and $40,359 for AWD

Honda Odyssey

A people mover available in both seven or eight-seater options, the Honda odyssey prioritises space, connectivity and safety features. It comes in two models:

• Models offered: VTi, VTi-L
• Prices from: $43,090

Honda NSX

Developed under the concept of a "human-centered supercar", the Honda NSX is an exclusive, state of the art performance vehicle.

Vehicle information and pricing last updated in February 2019

If you’re looking to borrow money to buy your Honda, there are a variety of loan options available for both new and used cars, so you don’t have to always settle for dealer finance. Making a comparison on RateCity will allow you to look at different types of Honda car finance and decide which interest rates, fees, charges, features and benefits may best suit your needs.

If you factor the following details into your car loan comparison, you’ll likely be better equipped to work out which car loan best suits your needs.

1. Interest rates

Comparing interest rates tends to be an important first step in comparing loans. Be sure to take note of both the advertised rate and the comparison rate.

2. Fees

Car loan fees can often significantly impact how much money you have to pay out over the life of your loan. Some examples of the types of fees you could be charged include application fees, monthly fees, other ongoing fees early exit fees and redraw fees. Different lenders will generally charge different fees to boost their bottom line, so it can be a good idea to ask about all of them.

3. Features

Car loans can vary quite a bit in terms of what they offer. It’s a good idea to consider asking about all of a loan’s features, as they can affect how much you will need to pay over the life of your loan. Some of these features include:

• Fixed or variable interest rates
• Additional payments
• Redraw facilities
• Pre-approval

4. Loan term

Some lenders are very flexible in how much time they’ll give you to pay off the loan, while others will limit your options.

5. Loan type

Some lenders will allow you to choose between a secured car loan and an unsecured car loan. Lenders will typically charge higher interest rates for unsecured car loans because they regard them as riskier than secured car loans. Securing your loan with your new Honda could allow you to access more competitive interest rates.

6. The lender

Consider the lender’s reputation and customer services offerings before applying for your Honda car finance.

What types of Honda car finance are available?

There are a number of different options on the market when it comes to Honda car finance, each of which meet specific requirements. Generally speaking, there are seven different ways to finance your Honda:

• Unsecured Car Loans: car finance where you don’t provide collateral
• Secured Car Loans: car finance where you do provide collateral, usually the car you are purchasing
• Chattel Mortgage: a specialist car finance option specifically for business finance use
• Operating Lease: more like a long-term car rental arrangement, involving a company leasing a car for an extended period
• Commercial Hire Purchase: closer to a rent-to-buy arrangement, generally involving a finance company buying a car on your behalf and letting you use it in return for regular rental payments. After a number of payments, you may own the car
• Car Finance Lease: similar to a commercial hire purchase, but with more options. You rent the vehicle for a set period and at the end of the lease, you either return the car or buy it
• Novated Lease: like a car lease, but with a more complicated ownership structure, as you acquire the car from a second party (usually an employer) which in turn leases it from a third party (a finance company)

How much can I borrow to finance my Honda?

In order to determine your borrowing power – or how much money you can borrow – lenders will typically assess your income, spending habits and credit score. Before you apply for a loan, it’s a good idea to work out the amount that fits comfortably into your personal budget. 

To make this simple, you might like to consider using RateCity’s Car Loan Calculator to get an estimate of what your Honda car finance repayments might look like depending on your loan amount, preferred loan term and potential interest rate. 

Having a clear understanding of what car you want to buy can make this even easier, as you can enter the cost of the car straight into the ‘I’d like to borrow’ field. The calculator can also give you an idea of how much total interest you might pay over the life of the loan.

For information and advice specific to your personal financial situation, consider talking to a financial advisor.