A Secured Car Loan and How it Works
Interested in getting a secured car loan? You’ll want to do your research to see if it’s the right option for you. At Brilliance Honda, our financial experts have the information you’re looking for about secured car loans and how they work. Learn more about this special type of loan, and then apply for financing through our finance center.
We can help you explore your financing options and get the right loan for you!
How Does a Secured Car Loan Work?
First, we have to answer the question: what is a secured auto loan? A secured loan uses collateral, normally the car itself, as security. This means if the payments are stopped, the car can be repossessed. In order to obtain one, you’ll first need to contact our finance department to start the application process. You might also be wondering: is a car loan a secured car loan? Not always. There are different kinds of car loans to choose from.
To complete the paperwork, you’ll need to provide personal information such as your name, social security number, and details about your current financial situation. You will also need to undergo a credit check in order to be approved. Lenders will review your credit history combined with your income to see if you meet the loan terms. If you qualify, this information will also help decide your interest rates. Once your debt-to-income ratio is determined, and if you meet the loan qualifications, you’ll be presented with the fixed rates of your loan.
Once approved, you can purchase the vehicle of your choosing. You must make regular payments on the vehicle until the loan is paid in its entirety. When the loan is paid off, the vehicle is yours for the keeping. If the car is not paid off, and payments stop, the vehicle will be repossessed.
Get Your Loan at Brilliance Honda!
Once you reach the secured loan criteria, be sure to apply for financing at Brilliance Honda near Barrington. Contact us today for more information on our competitive auto financing.
Does the Honda HR-V Have AWD?
Searching for an AWD SUV and wondering, “Does the Honda HR-V have AWD?” On the 2019 Honda HR-V
, front-wheel drive is standard and all-wheel drive is available. This means you can enjoy the efficiency of the new Honda HR-V, while still getting the extra traction on rough roads around Elgin. Find out more about the Honda HR-V AWD models and the Real Time AWD with Intelligent Control System™ below.
Real Time AWD with Intelligent Control System™
The Real Time AWD with Intelligent Control System™ adds in a rear differential to vehicles with front-wheel drive. The rear differential is engaged when traction is lost via a multi-plate clutch system. This distributes torque to all four wheels, instead of just two. “Intelligent Control’ removes the lag drivers can experience with traditional all-wheel drive systems when the rear wheels are engaged. Instead of mechanical means, the Intelligent Control System uses an electric motor on the transmission to deliver power.
What Are the Honda HR-V AWD Models?
The 2019 Honda HR-V LX, Sport, EX, and EX-L trims are all available with AWD. The Touring configuration comes standard with AWD, as well as other notable performance features to optimize your time on Schaumburg roadways:
- 141-hp 1.8L 4-cylinder engine
- Continuously Variable Transmission (CVT) with Sport Mode
- Dual-Mode Paddle Shifters
- Eco Assist System
- Active Noise Cancellation
- Hill Start Assist
Test Drive an HR-V with AWD at Brilliance Honda!
The 2019 Honda HR-V proves to be a versatile compact SUV that can also deliver solid driver control with AWD traction. To check out the new HR-V for yourself, schedule a test drive at Brilliance Honda near Barrington.!