Honda is currently offering drivers an incentive to buy this summer to counteract the sales hit it took in the wake of the earthquakes in Japan this spring. The automaker saw a drop in sales in the months following the natural disaster, with sales sliding 23 percent in May alone, according to The Florida Times-Union.
"Honda may be down in product, but they don't want to lose their customer base," Tim Peeler, the general manager of Lou Sohb's Honda of the Avenues in Jacksonville, Florida, told the news source. "So they're giving customers the opportunity to take advantage of specials that Honda is running right now, even if the car the buyer wants is not available now."
The promotion, which is running until August 1, doesn't leave current Honda owners out to dry either. They can get a $500 credit toward the purchase of their next vehicle. Current lessees may be eligible for a lease extension and a complimentary year-long Honda Care vehicle Service Contract.
People who are considering buying a new car with a bad credit car loan should look to the 2012 Honda Civic ($15,650) and the Fit ($15,100). Edmunds reports that the Fit is the smallest car offered by Honda, but the interior space is comparable to that of the Civic. The 2012 model year Fit will be available as a hybrid, and the new Civic has this option as well.
The 2012 Civic Hybrid will get roughly 44 miles per gallon on the highway, which is both impressive and economical. Even if the dealership doesn't have the new Civic or Fit, drivers can take advantage of the Honda Promise program to lock in low interest rates.
Rates have been extremely low nationwide since the recession, but as the deadline to increase the deadline approaches, the trend of low interest rates may be coming to a close. People who need to take out car loans should take advantage of the current rates and deals to help them save money in the longrun.
"If you can get the new car you want at the present extremely low interest rates – in some cases, zero percent – then present-day deals are even more valuable," Peeler said.