New Honda Most Frequently Asked Questions
Q: Can I trade in my car, even if I am still making payments on it?
A: Yes, you can. We will appraise your car and give you a value for it. You provide us with the amount that you still owe, which is deducted from the appraised value. The remainder is what is considered equity, that you can apply towards your new Honda.
Q: What if I owe more on my trade-in than it is worth?
A: This situation is called negative equity, and it’s not uncommon. You can still trade in your vehicle, even with negative equity. We can apply the negative equity towards your new Honda, or you can pay off the difference.
Q: How is the trade in value for my vehicle calculated?
A: Our appraisers will drive your vehicle and inspect it’s overall condition. Then they consult a number of resources such as Kelley Blue Book, Manheim Reports and independent buyers to determine a fair market value.
Q: What are the advantages/disadvantages of leasing?
A: Briefly, leasing is popular since you only pay for the car during the best part of it’s life cycle, while it’s under warranty. Leasing offers low payments for short terms, generally 36 months. While you’re leasing, Honda provides “GAP” coverage in case the car is totaled or stolen, to protect you. You have the option to buy the car at the end of the lease if you want to own it. The disadvantage is that you don’t “own” the car unless you purchase it at the end of the lease. We’ll be happy to discuss, in detail, if a lease may be right for you.
Q: What is needed to facilitate the purchase or lease of a car?
A: When you decide to purchase a car, you will need to provide your PA driver’s license, proof of valid insurance, and if you’re transferring a license plate, your registration card. Cars cannot be registered in Pennsylvania without a current PA driver’s license. If you are going to be trading in a car, you will need your title, or your current loan payoff information.
Q: What if you don’t have a Honda that I like in your inventory?
A: We have access to thousands of Hondas through the dealer network, and we will be happy to find the exact Honda that you are looking for. We do not charge anything extra for this service.
Q: How do I pair my BlueTooth phone?
A: The instructions for pairing vary by model. You can find detailed information at: http://automobiles.honda.com/handsfreelink/find-a-phone.aspx
Q: Why do model years not correspond with calendar years?
A: It is a bit confusing. As manufacturers release new or updated models, they will often bump them up to the upcoming year. For instance, a car may be introduced in the Spring of 2010 as a 2011 model, so that it will not have to undergo any changes during the normal model introduction that occurs in the fall. Normally, new models for the upcoming calendar year are introduced a few months early in September.