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'38 Special' on new Honda Fit

Published:Sunday | June 24, 2012 | 12:00 AM

ATL Automotive has announced a '38 Special' on the 2012 Honda Fit. Current monthly financing estimates from the COK Co-operative Credit Union separate the 2009 and 2012 Honda Fits by less than $200, with the monthly payments being $38,258 and $38,406 respectively.

Christopher DaCosta, group general manager, sales and marketing, at ATL Automotive Ltd, exclusive local Honda motor car dealer, said "We are calling it the '38 Special' because it is such an incredible deal".

According to DaCosta, the starting price for the 2012 Honda Fit, available at ATL Motors, is at a discounted price of $2.3 million, while the starting price of the 2009 Honda Fit, available at many used-car dealers, is $1.8 million. COK is financing the vehicles at 95 and 90 per cent, respectively, which means the buyer makes a lower downpayment of $115,000 on the brand new 2012 model, as opposed to the $180,000 downpayment on the 2009 model.

COK's marketing and business development manager, Lorraine Green-DaCosta, said the financing terms are based on reduced interest rates of 11.5 per cent for the 2012 Honda Fit and 13.5 per cent for the 2009 Honda Fit. The rates end on June 30, 2012.

"The 2012 rate offers up to eight years to repay and the 2009 rate offers up to six years to repay. But buyers should look at the value they will get from purchasing a brand new car," she added.

Green-DaCosta said, "At COK, we have found that women prefer newer model cars, which afford them the security of fewer mechanical problems."

ATL's DaCosta listed some additional features to be considered by car buyers, such as the warranty period, spare size and audio system, all to the new car's advantage.

The 2012 Honda Fit comes in an array of colours, with some models fitted with a massive panoramic sun roof.