Step-by-Step Process of Getting Financing for Your New Honda

Getting behind the wheel of a new Honda is a fantastic milestone, but navigating the financing process can feel overwhelming if you’re unsure where to start. At Marthaler Honda, we make the process smooth, transparent, and tailored to your needs. Whether you’re buying or leasing, our friendly finance professionals are here to guide you every step of the way.

We offer fast approvals, low-interest auto finance rates, a payment calculator, and programs designed for customers with bad or no credit. So whether you're a first-time car buyer or upgrading from your current ride, we have the tools and experience to help.

Let’s explain the step-by-step process of financing your new Honda and how trade-ins, leasing, and auto finance contribute.

Step 1: Decide Between Buying and Leasing

One of the first choices you'll need to make is whether you want to buy or lease your new Honda.

Buying is the right option if you plan to keep your car for a long time, want to customize it, or drive a lot of miles annually. Once the loan is paid off, the vehicle is yours to keep, sell, or trade.

Leasing offers low monthly payments and the ability to drive a brand-new Honda every few years. This is ideal if you want the latest tech, lower upfront costs, and don’t mind mileage restrictions.

At Marthaler Honda, we offer flexible lease and finance plans on all the latest Honda models, so you can choose what best fits your lifestyle.

Step 2: Know Your Budget

Before browsing models, it's smart to figure out your budget. Consider your monthly expenses and how much you’re comfortable paying each month for your vehicle.

Our dealership offers a payment calculator to estimate your monthly costs based on your credit score, down payment, and loan or lease terms. This tool can help you better understand what kind of vehicle you can comfortably afford.

Step 3: Value Your Trade-In

If you currently own a vehicle, you can apply its value toward the purchase or lease of your new Honda. At Marthaler Honda, our trade-in value tool makes it easy to get an estimate in minutes. Simply enter your vehicle details and get a fair market value that can help reduce your new loan amount or lease payment.

Trading in is one of the fastest ways to build equity toward your next vehicle, and it simplifies the process by avoiding the hassle of a private sale.

Step 4: Get Pre-Approved Online

One of the smartest things you can do before visiting the dealership is get pre-approved for auto finance. Our pre-approval application is quick and easy, and helps you understand your financing options before stepping onto the lot.

With pre-approval, you get a clearer picture of what interest rates, loan terms, or lease options you may qualify for. And don’t worry if you’ve had past credit challenges—we work with any type of credit, even with less-than-stellar no credit history.

Step 5: Choose Your New Honda

Now for the fun part—selecting your new Honda! Whether you're interested in the sporty Civic, the spacious CR-V, the tech-savvy Accord, or the adventurous Passport, our knowledgeable team is here to help you compare trims, features, and pricing.

We’ll also ensure the vehicle you love matches your approved finance or lease terms, so there are no surprises.

Step 6: Finalize Your Auto Finance or Lease Agreement

Once you've chosen your vehicle, it's time to review and finalize the paperwork. Our fantastic finance team will walk you through the details, including:

Monthly payment amount

Interest rate or lease terms

Down payment

Optional service or protection plans

Any trade-in value applied.

We can complete everything in one easy visit thanks to our fast approval process. We’ll also answer questions to ensure your confidence before signing the dotted line.

Step 7: Drive Off with Confidence

Congratulations—you’re ready to take home your new Honda! Whether you’ve financed or leased, we’ll ensure you have everything you need, from registration and insurance info to a quick rundown of your vehicle’s features.

Our support doesn’t stop once you leave the lot. We’re always here to help with future service, trade-in options, or upgrades.  

Why Finance at Marthaler Honda?

Marthaler Honda goes above and beyond to take the guesswork out of car buying. Here’s what you can expect from our finance department:

Fast Approvals for qualified buyers

Low-interest auto finance rates

Competitive rates from local banks

Programs for bad credit or no credit history

An easy-to-use payment calculator

Seamless trade-in process

Whether upgrading your current vehicle or buying your first Honda, our team is here to help you every step of the way.

Start Your Journey Today

Ready to drive home in a new Honda? Value your trade-in, use our payment calculator, or complete our pre-approval form online. Then, visit Marthaler Honda in Albert Lea, MN, to explore our inventory. Let us help you secure the right auto finance plan for your needs.

Let’s make your car-buying experience as easy—and exciting—as possible.

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