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Acura is the luxury arm of Honda Motor Co. And like its Japan-born competitors, Acura was made for the foreign market, not the Japanese market. To this day, most of its production and sales are in the U.S., where it was the first brand to obtain a five-star safety rating across an entire model line. Besides safety, the brand’s performance also excels — it placed third overall in the 2018 Pike’s Peak International Hill Climb, an annual extreme mountain road race in Colorado, known as “the race to the clouds.”
If you’re thinking of purchasing or leasing a new or pre-owned Acura for your own adventures, you might be wondering what the manufacturer offers in the way of financing. Like many manufacturer financing companies, Acura offers substantial deals for well-qualified borrowers. Most likely, you won’t be able to find 0% APR financing through any lender other than a manufacturer. The key word, however, is “well-qualified.”
We’ll go over the types of financing deals Acura offers, including its rebates, incentives and leasing options, plus alternative sources of financing if you decide to look elsewhere.
Acura Financial Services (AFS) offers financing and leasing on new and certified pre-owned Acuras, supercar models to sedans. It ranked No. 3 on JD Power’s U.S. Consumer Financing Satisfaction Study for the luxury market. The Better Business Bureau rates it with a “B” and rates its parent corporation, America Honda Finance Corp., with an “A+.”
Acura doesn’t define “well-qualified buyers” beyond saying you shouldn’t have bad marks on your credit history, but Honda generally requires a 610 credit score for customers to qualify for financing and at least a 710 credit score for customers to qualify for the special financing offers.
If you’re unsure what your credit score is, you can check your credit score for free here and, if it’s not the best, read about how to get an auto loan with poor credit.
Acura Financial Services generally requires three things:
Acura Financial Services does offer preapprovals. To apply, you’ll need your Social Security number, checking and savings account numbers, employment information, down payment amount and which model vehicle you want.
Financing terms go up to 84 months, although most special financing offers only go up to 60 months (and taking out an 84-month auto loan isn’t recommended).
Balloon financing is also available through the Acura Leadership Purchase Plan. In a balloon loan, there are two phases. The first phase is 24 to 48 months and consists of small monthly payments, much like a lease. The second phase is when the buyer has to make a decision: You could either buy the vehicle for the remaining amount the vehicle is worth in one lump sum, finance that amount in a traditional auto loan or return the vehicle to Acura.
Acura rebates and incentives apply to certified pre-owned vehicles, not just new vehicles. They may change often however, depending on vehicle location, time of year and vehicle model. Make sure you check that the rebate you may qualify for applies to the vehicle you want.
This list may not be all-inclusive of the types of incentives Acura offers in your area nor all of the requirements that must be met in order to qualify. See the Acura website or an Acura dealership for more information.
If you know how much the car you’d like will cost with or without a rebate, you can see how much your monthly payment may be with LendingTree’s auto loan calculator.
If that new-car smell smell is worth getting a new car every few years, leasing is usually easier on your wallet than buying, trading it in and buying again. Leasing could also help you get into a car you otherwise couldn’t afford to buy.
Leasing downsides may include strict credit requirements and limits on mileage and wear. If you go over the mileage limit, there’s usually a penalty charge, the rate of which could range from 15 to 20 cents for each mile over the limit, depending on if the car’s value. If you are concerned about overages, you could purchase an Excess Wear and Use Waiver policy ahead of time.
Acura offers three lease programs:
You can check out this guide on whether to lease or buy if you’re unsure which is best for you.
If you’re at the end of your current lease, be sure to check out any available promotions as there are often loyalty and conquest programs for lessees. For information on what to do when your lease is over, you could read this guide on how a lease buyout works.
Before you head to the dealership, hedge your bets. Armed with a loan offer in your back pocket, you have something to fall back on if the dealership offers come in with high APRs or if you don’t qualify for manufacturer financing.
To know what you qualify for, apply for financing online (through Acura or an online lender), or at your bank or credit union. And don’t apply to just one place. It doesn’t hurt your credit to apply to multiple lenders within a 14-day window any more than it does to apply to one lender. This way, you’ll have a few choices. You could end up choosing the one with the lowest monthly payment or the one that costs you the least over time. On LendingTree, you could get up to five auto loan offers from lenders by filling out one form. Shop around for your loan like you would for your car to make sure you’re not paying more than you have to.
The name Acura is derived from the word “accurate,” referring to the precision of the craftsmanship it puts into all of its cars. As a part of Honda, Acura receives the benefit of the Japanese carmaker’s expertise in making engines for everything from lawn mowers to personal jets. This expertise shines the most in its “supercar” — a street-legal race car. Acura’s NSX Supercar beat the Ferrari in racetrack and road tests, but that doesn’t mean you should pull a move from “The Fast and The Furious” the next time you take your Acura to the movies.
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