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Automotive Financing FAQs | Elizabethtown, KY

Once you’ve finally decided on the Honda of your dreams, it’s time to start thinking about the best way to finance your new purchase. Figuring out your loan budget and finding the ideal financing for your needs can be intimidating if you don’t have someone to guide you through the process. That’s why Hardin County Honda has put together a list of frequently asked questions to make sure that your experience is simple, easy, and positive.

What will I need for an automotive loan?

Qualifying for a car loan will require a significant amount of paperwork. When you go to get your loan, you’ll want to be ready with multiple forms of personal identification and financial/residential stability. Make sure to bring documents like your driver’s license, paychecks, proof of address, and information about the car you intend to purchase. Finally, you must undergo a credit check so that the lender can analyze your credit score.

What does APR mean?

APR is a common phrase used at dealerships, but it can easily go over your head if you don’t know what it means. APR stands for annual percentage rate, which is the yearly rate of interest you will pay on your loan. Auto loan APRs are usually fixed-rate, meaning the number stays the same throughout your loan term.

What do lenders look at?

When you apply for a loan, the lender will look at your entire financial situation. This includes your credit report, credit score, age, income, marital status, and employment. That’s because they need to determine your debt-to-income ratio in order to calculate the appropriate interest rate and loan timeline for you.

How much can I afford?

Your loan budget will depend on multiple factors. You should consider your monthly or yearly expenses, along with the amount you’re willing to spend on your vehicle each month. The economist-recommended rate is 20%. You should consider your own spending habits and remember to plan ahead for monthly expenses like gas, rent, insurance, and groceries.

If you have any questions or just want to talk to someone experienced in the field, stop by Hardin County Honda and chat with a memeber of our staff about the whole buying process.

Get in Touch

5608 North Dixie Highway


  • Monday
    9:00am - 7:00pm
  • Tuesday
    9:00am - 7:00pm
  • Wednesday
    9:00am - 7:00pm
  • Thursday
    9:00am - 7:00pm
  • Friday
    9:00am - 7:00pm
  • Saturday
    9:00am - 6:00pm
  • Sunday

Contact Information

5608 North Dixie Highway
Elizabethtown, KY 42701
Phone: (270) 600-2483
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