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  1. 30-09-2004 12:08 AM #1
    Catcha
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    Anybody have Honda finance with there car ?

    Tossing and turning between Honda Finance and Gap insurance with them. Honda finance offer to replace your vehicle brand new within the a 3 year period if the car is written off, where normal insurance they will only replace your car in the first year it is written off and after that just pay out the market value of the car.

    Anybody have any experience with Honda Finance ?
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  2. 30-09-2004 02:08 PM #2
    muli
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    the honda finance has quite a high interest rate doesnt it, i know mine is but im planning to pay the car off withing the first 2yrs, loan contract is for 5yrs. with honda finance you cant pay any extra off your car for the first 6months to my understanding
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  3. 30-09-2004 06:01 PM #3
    Catcha
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    Quote Originally Posted by muli
    the honda finance has quite a high interest rate doesnt it, i know mine is but im planning to pay the car off withing the first 2yrs, loan contract is for 5yrs. with honda finance you cant pay any extra off your car for the first 6months to my understanding


    it's about 9.15% I could have gone 7.99% but they didn't have gap insurance which is what i was after. If you pay the loan out in full before expiry is when you get slugged
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  4. 30-09-2004 11:34 PM #4
    MRFIT
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    Quote Originally Posted by Catcha
    Tossing and turning between Honda Finance and Gap insurance with them. Honda finance offer to replace your vehicle brand new within the a 3 year period if the car is written off, where normal insurance they will only replace your car in the first year it is written off and after that just pay out the market value of the car.

    Anybody have any experience with Honda Finance ?

    Just insure ur car at "Purchase Value"..... its a bit more expensive than Market value.... but if ur car is written off 3 years later.... the insurance will pay u what u paid for the car.
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  5. 01-10-2004 01:59 AM #5
    Catcha
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    Quote Originally Posted by MRFIT
    Just insure ur car at "Purchase Value"..... its a bit more expensive than Market value.... but if ur car is written off 3 years later.... the insurance will pay u what u paid for the car.
    thats what honda offered but the price was well not worth it...i consider myself a good driver but you never know........thats why i took out the gap insurance in case of a write off and i owe more money on the car than what it's worth gap insurance would pay for it............
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  6. 01-10-2004 08:09 PM #6
    MRFIT
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    how much do u pay a year? I am paying 790 a year.... RACV.... rating 1....
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  7. 01-10-2004 11:58 PM #7
    Catcha
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    Quote Originally Posted by MRFIT
    how much do u pay a year? I am paying 790 a year.... RACV.... rating 1....
    Gap insurance has to do with finance of the car...eg in 2yrs you write you car off market value is 10g you owe the bank 15g, your still left to pay 5g from you pocket...if you have gap insurance they will pay up to 10g difference and give you 2g extra to YOU for nothing. It;s like income protection and so fouth

    My insurance i'm paying $685 Rating 1 with a local insurance company
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  8. 08-11-2004 12:19 PM #8
    jefflei
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    Quote Originally Posted by MRFIT
    how much do u pay a year? I am paying 790 a year.... RACV.... rating 1....
    Which comp.? goodness me I am paying $1700 ...with 60% rating ...
    but under 25ages.... on my jazz vti cvt-7 ......
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  9. 08-11-2004 11:25 PM #9
    MRFIT
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    RACV - I am in Melbourne
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