Finance Most Frequently Asked Questions


When will I receive my payment book?
 

Our lenders no longer use traditional payment books, but send out monthly statements.  You should receive your first statement at least 1 week before your first payment due date .  If you have not received your statement after 3 weeks from date of purchase, contact the business office at JL Freed Honda, and they will assist you in resolving this situation.

Can I pay online or set up automatic withdrawals?

Yes, you can.  When you receive your first statement online, there will be various means provided to make payment on your vehicle loan.  These include both traditional mail and online payments.  The first statement will include instructions on how to set up an automatic withdrawal for your loan.

When is the last day that I can turn in my leased Honda?

Your turn in date on a lease is one month following due date of your last payment on your lease.  If you have contacted Honda to change the due date on your lease, you will need to refer to your original contract for this date.

What does my warranty cover on my vehicle?

Warranty coverage varies by year, make and model.  This information can be found in the warranty guide that was supplied by the manufacturer.  This can usually be found with your owner’s manual.  To verify whether your vehicle is still under factory warranty, you can fill out a form to request that we check warranty coverage by clicking HERE.

Do I have to by an extended service plan at the time of purchase?

Currently, extended service plans are available as long as the vehicle is still within 3 years or 36,000 miles of what is called its in-service date, the day in which the vehicle was first sold new.  Please note, that the cost to extend coverage on a vehicle can drastically increase as the vehicle ages and miles are put on the vehicle.  It is often more cost effective to extend the factory warranty at the time of initial purchase.  If purchasing a pre-owned vehicle that is already past its initial 3 years or 36,000 miles, the only opportunity to purchase a warranty for your vehicle is at the time of purchase.  We cannot guarantee that rules for adding extended service plans will not change as time passes.

Can I submit a credit application over the phone or internet?

We do offer the ability to apply online for vehicle financing on a per request basis.  You will need to contact our finance department for additional information at (215) 368-1840.  We prefer that our customer fill out an application in person to ensure accuracy as well as insuring privacy.
I just bought out my lease from Honda and received my title in the mail.  Why do I need to visit a notary?
If you purchased your leased vehicle directly from Honda, you will be mailed the title with a letter confirming that the lease is paid off.  Your next step is to visit a Pennsylvania licensed notary service to transfer the title and registration of the vehicle from Honda Lease Trust into your name.  You may also be required to pay additional state taxes and fees as determined by your state and local municipalities.  Failure to do this will prevent you from trading in, selling or disposing of your vehicle in the future.  We suggest this be done as soon as possible after the title is received.

I received a letter from Honda that says that I may have money owed. 

Whenever a loan from Honda is paid off, a standard form letter is sent out to customers stating that they may have money owed to them.  This is a legal matter for Honda and may not apply to your situation.  Feel free to contact your selling dealer to confirm if there is in fact any money due back to you.  Please keep in mind, that any payout is rare and is more of legal technicality on Honda’s part.  Furthermore, there will be no refund available on products that were not purchased.

I was contacted by Honda that my warranty is about to expire and was offered an extended warranty.  Is this legitimate?

Honda does not send out solicitations via mail, email or phone regarding warranty extension.  If you receive this, it is coming from a third party warranty company which buys names of lists from public sources such as DMV records.  Please note, that you can only purchase a Honda extended service plan by visiting your local dealer as Honda prohibits sales of extended service plans online, through the mail or via phone.

Will I be able to drive a car home on the same day that I purchase it?

Yes, you can in most cases.  If you plan on taking your car home on the day that an agreement is made, please come prepared with the following items:

 -Driver’s license of everyone involved in the transaction
 -Current Registration cards for any vehicle traded or from which a tag is to be transferred
 -A clear and clean title if a trade is to be included
 -Account information for any payoff of a vehicle to be traded (a recent statement will usually suffice)
 -A current insurance card listing the name of the person purchasing the vehicle
 -Your most recent paystub from your employer

Please note that additional information may be needed under certain circumstances.  Furthermore, a delay may be possible if financing for the vehicle is to be secured.  If you have any questions or concerns, feel free to call our sales department for more information.

Do you have any financing for those with limited credit?

We have a great working relationship with many local and national banks and can often secure financing for those that have been unable to do so on their own.  In order to fully assess if a loan can be extended, you will need to stop into our dealership for us to help you find a financing solution that will work for you.