On Nov. 1, Honda dealers will begin applying for HondaPower Financing, a new loan program designed exclusively for them to increase working capital, buy or lease real estate, renovate or expand facilities, or build up pre-owned inventory.
Honda Federal Credit Union, an independent firm that’s been providing services to Honda and its employees since 1966, is marketing the program as a supplement to American Honda Finance. Dealers can use the loans and lines of credit for anything Honda-related except for new inventory.
“These loans are ideal for dealerships looking to meet the requirements for Honda Powerhouse and exclusivity,” notes the program, which claims to provide extended terms, “highly competitive” rates and “quick turnaround.”
HondaPower Financing will be a pilot program through 2012. Honda dealers can apply at www.hondafcu.org//hondapower.html. They also can call program consultant Don Gensler at 951-902-9542, or e-mail him at email@example.com.
According to HFCU’s message to dealers, Gensler is not only a loan expert, but “familiar with the industry, Honda products, and the rewards and challenges you face in the marketplace.”
HFCU is now mailing program postcards to about 1,100 dealers nationwide. Dealers also can request brochures.
Posted by Arlo Redwine