Honda gives Acura its own financial arm
2009 Acura TSX – Click above for a high-res image gallery
The late eighties is when it all happened for Japanese luxury vehicles in North America. But by the time Lexus and Infiniti launched in 1989, Acura was already on the market for three years. Since then, Acura customers in the U.S. looking to finance new cars went through the same American Honda Finance Corporation that bankrolls the purchases of new Honda cars, trucks, vans, motorcycles, lawnmowers, outboard marine engines and everything else the Japanese industrial giant builds (to the possible exception of corporate jets and robots), not to mention the establishment of new dealerships and all that entails.
That's all about the change with American Honda Motor Co.'s announcement of the launch of Acura Financial Services, a new financing arm for the company's luxury division that will handle the purchases of new Acuras. The move is part of an effort to distance Acura from the more commonplace offerings of its parent company, and to give the division its own look and feel. A strange time to launch a new financial company, but we'll see how it works out. Details in the press release after the jump.
PRESS RELEASE
Dedicated Acura Financial Services Launched
New Acura-Branded Financial Services Created to Enhance Luxury Client's Experience
TORRANCE, Calif. - 04/23/2009
American Honda Finance Corp. (AHFC) this week launched Acura-branded financial services to better satisfy the needs of Acura dealers and customers. The creation of Acura Financial Services (AFS) marks a major milestone in Acura history. This is just the first step of a multifaceted effort to further enhance customer service and raise the brand image for Acura, the luxury nameplate that pioneered the launch of Japanese luxury automobiles in the U.S.
"With our most recent ranking in the top two, three and four positions in the luxury lease segment of the 2008 J.D. Power and Associates Consumer Financing Satisfaction Study, the timing is perfect to utilize our years of experience and expertise to create financial services that will meet the needs of Acura clients," said Stephen E. Smith, senior vice president of AHFC. "The creation of separate Acura-branded financial services parallels other moves to strengthen and differentiate the Acura luxury brand."
About American Honda Finance Corporation
American Honda Finance Corporation, a wholly-owned subsidiary of American Honda Motor Co., Inc., is the captive finance provider of consumer financial products for Honda and Acura automobiles, sport utility vehicles, trucks, minivans, Honda motorcycles, Honda power equipment, and Honda marine products. In addition, AHFC also provides Honda and Acura dealerships with vehicle floorplan programs, real estate, construction and capital loans, revolving lines of credit and inventory insurance.
About Acura
Acura offers a full line of technologically advanced performance luxury vehicles through a network of 270 dealers within the United States. The Acura lineup features five distinctive models including the RL luxury performance sedan, the TL performance luxury sedan, the TSX sports sedan, the turbocharged RDX luxury crossover SUV and the award-winning MDX luxury sport utility vehicle. Acura also recently unveiled a prototype of the ZDX, an all-new luxury four-door sports coupe, at the New York International Auto Show that will go on sale this fall.
For additional information about Acura vehicles, please visit www.acura.com. For more financial services information, please visit www.acurafinancialservices.com. For media inquiries, please visit www.acuranews.com.
Dedicated Acura Financial Services Launched
New Acura-Branded Financial Services Created to Enhance Luxury Client's Experience
TORRANCE, Calif. - 04/23/2009
American Honda Finance Corp. (AHFC) this week launched Acura-branded financial services to better satisfy the needs of Acura dealers and customers. The creation of Acura Financial Services (AFS) marks a major milestone in Acura history. This is just the first step of a multifaceted effort to further enhance customer service and raise the brand image for Acura, the luxury nameplate that pioneered the launch of Japanese luxury automobiles in the U.S.
"With our most recent ranking in the top two, three and four positions in the luxury lease segment of the 2008 J.D. Power and Associates Consumer Financing Satisfaction Study, the timing is perfect to utilize our years of experience and expertise to create financial services that will meet the needs of Acura clients," said Stephen E. Smith, senior vice president of AHFC. "The creation of separate Acura-branded financial services parallels other moves to strengthen and differentiate the Acura luxury brand."
About American Honda Finance Corporation
American Honda Finance Corporation, a wholly-owned subsidiary of American Honda Motor Co., Inc., is the captive finance provider of consumer financial products for Honda and Acura automobiles, sport utility vehicles, trucks, minivans, Honda motorcycles, Honda power equipment, and Honda marine products. In addition, AHFC also provides Honda and Acura dealerships with vehicle floorplan programs, real estate, construction and capital loans, revolving lines of credit and inventory insurance.
About Acura
Acura offers a full line of technologically advanced performance luxury vehicles through a network of 270 dealers within the United States. The Acura lineup features five distinctive models including the RL luxury performance sedan, the TL performance luxury sedan, the TSX sports sedan, the turbocharged RDX luxury crossover SUV and the award-winning MDX luxury sport utility vehicle. Acura also recently unveiled a prototype of the ZDX, an all-new luxury four-door sports coupe, at the New York International Auto Show that will go on sale this fall.
For additional information about Acura vehicles, please visit www.acura.com. For more financial services information, please visit www.acurafinancialservices.com. For media inquiries, please visit www.acuranews.com.
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Reader Comments (Page 1 of 2)
Avinash machado 8:42AM (4/28/2009)
Now how about giving Acura a new design\styling team as well.
Reply
Sea Urchin 8:52AM (4/28/2009)
Have you seen the new Acura’s in person? They are GOURGEOUS, that nose looks bad on a picture, but in real life it makes the car look great, by the way the sedans look great from any angle.
I was horrified when i saw the first pictures but once i saw it in person i was hooked.
ASEVENSEE4 8:59AM (4/28/2009)
I'll give you the TSX, that doesn't looks so bad in person but the TL? O-M-G that thing looks like a big pile of S***
RDX was never my cup of tea, too much to not like with the RDX. MDX looks good. RL looks horrible with the new grille, never really looked great honestly.
Sea Urchin 9:04AM (4/28/2009)
Agree on RDX
Tony C 9:31AM (4/28/2009)
RDX looks great and is probably the best looking Acura in the brand's stable. Coincidentally, it also bears the only family shield that doesn't beat you over the head with its presence.
ken_aisin 9:35AM (4/28/2009)
"The creation of separate Acura-branded financial services parallels other moves to strengthen and differentiate the Acura luxury brand."
I say, the creation of separate Acura-branded financial services parallels other moves to strengthen and differentiate the beloved Honda brand from the hideous Acura brand.
When will you Honda/Acura execs get the message that your new Acura models are complete eyesores. I've seen your new models in person and that grill is just horrible to look at. The new TL is absolutely fugly from every single angle. I know you are trying to shake off the bland label. But shaking off the bland label is one thing, building eyesoring cars is another thing. Take a look at the resurgence of Infiniti. Their new models are no longer bland. They are indeed simple, clean, and easy on the eyes. Kudos to Shiro Nakamura and his design team.
Fortunately to you (but unfortunately to the rest of us), you still have people like Sea Urchin who think differently about your new designs. But he's known to be "special" though, and you seldom get to come across people that are that "special".
chconline 11:15AM (4/28/2009)
The new Acuras are beautiful. They're hideous in photos and probably the same the first couple times you see them. But it really grows on you, and the TSX and TL are amazing when in motion. They are sleek, beautiful, unique, bold, and presents a significant presence on the road that makes every other car look a bit bland and outdated.
But that's just my opinion haha. Once Acura dropped it to 0.9% financing I see dozens of new TSX's and TL's on the road daily.
Tomac 12:30PM (4/28/2009)
The only way the Acura's look could grow on you is like a fungus. It's hideous in both photos and in person, and only Hondaphiles can beg to differ. Acura is one of those brands that I could never purchase-- if they were nice looking I could forgive them being FWD, and if they were RWD I could forgive them being ugly. Both together means Acura is completely off my radar screen. I wouldn't even consider them.
I saw an RL in my rear-view mirror this morning and literally cringed.
ASEVENSEE4 8:53AM (4/28/2009)
Yeah like this is going to brings sales up and hide the fact that they're still Honda's..
I know I was waiting for this so I could pull the trigger on one of those stylish, sexy, and attractive 09 TL's.
Reply
Nick 9:04AM (4/28/2009)
I've owned Honda's/Acura's for 12 years now and hate that TL. I have seen it in person and that front nose looks worse. There is nothing to like about that TL. The TSX doesn't look that bad with the new grill, it looks great with the few that have painted it, but the car is too wide compared to the 1st generation.
Reply
Pat Kirk 9:21AM (4/28/2009)
The Pontiac Aztek is still the ugliest car, only just! Acura is almost there! By the time the refresh arrives they will be KING. Idiots
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John 9:17AM (4/28/2009)
Great, you have captive financing. Now get a true flagship vehicle with a V8.
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Rich 9:21AM (4/28/2009)
On the contrary, this is a great time to launch a new financial company. What better time than a period of low demand and low approval? Use this as a public pilot program to get everything working before the customers come flocking.
Reply
ken_aisin 9:42AM (4/28/2009)
"Use this as a public pilot program to get everything working before the customers come flocking."
How are you supposed to run a pilot program when your cars are scaring customers away? Sure the poor economy is affecting car sales, but with Acura, it has a lot more to do with their new designs.
Egon 9:55AM (4/28/2009)
So somebody got a new box of letterhead and some new business cards
at AHFC?
I'm so sorry that Acura owners had to be burdened with recieving
financing from the peasants down at Honda. Shhhh...Nobody tell 'em
their cars roll off the same assembly lines.
Reply
Tourian 10:28AM (4/28/2009)
Exactly, they probably turned one of the break rooms into the "Acura Finance HQ" at Honda Financial. ITs not like they went out and spent a whole bunch of money on establishing this "company."
Francis 10:13AM (4/28/2009)
"...RL luxury performance sedan, the TL performance luxury sedan..."
so are they basically the same damn car?
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Josh L 10:21AM (4/28/2009)
After multiple NIGHTMARE scenarios with Honda Financial Services (regional office in Alpharetta, GA) on my three Acuras, hopefully this is good.
With that said Acura lease rates/money factor/residual is crap (see: 2009 Acura RL).
Reply
Epyx 11:29AM (4/28/2009)
Why do you continue to use Honda Financial if the service and rates are so poor?
homunculus 10:22AM (4/28/2009)
I've seen a few TLs in real life and they're actually pretty nice looking. The overhang is not great though. They look like spaceships.
Reply