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Prices Paid: Buying & Leasing Experiences Honda Accord Prices Paid and Buying Experience
24561 messages, Last post on Nov 30, 2009 at 2:39 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Hondaguy09 (Nov 25, 2008 5:55 pm) My guess is that you had a score of 710 or higher so the F&I department thought they could qualify you for the Honda Finace "Super Preferred" credit tier. However, perhaps Honda looked at the credit and although the score was high enough there may not have been enough trade lines or or high credit terms to justify the "Super Preferred" credit tier. It looks like AHF counter-offered at "Preferred" - which at 4.9% is still probably better then the alternative. When it comes to the low rate offers, the dealer CAN NOT mark up the rate. They have to provide you with the same rate that Honda appoves the contract at. 
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Replying to: mplshondadlr (Nov 26, 2008 7:41 am) But, my advice still applies.. Even if they have to contract you at the higher rate, they can lower the price of the car, so that your monthly payment and term remains the same. Will that cost them some money? Absolutely.. But, probably less than taking that car back. As noted many times, most people buy on payment. If the dealer sells you the car based on the payment, then they either make good, or take it back. That is the risk they take doing spot deliveries. regards, kyfdx |
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Replying to: Hondaguy09 (Nov 25, 2008 5:55 pm)
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Replying to: zkeith2 (Nov 26, 2008 8:19 am) Deep down in the fine print of every dealer's finance contract is a disclaimer.. If the finance company rejects the contract, and they can't get it accepted elsewhere, then the contract is void.. If that's the case, then you have to take the car back... You have some leverage, but the car isn't yours.. They will repossess it, eventually. regards, kyfdx
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Replying to: kyfdx (Nov 26, 2008 8:23 am)  I mean if the matter turns out for the worse, consulting a lawyer would be the most viable option after if your attempts to settle it peacefully has been futile. After all, the car is at least a 20K "investment" and a 1% jump means a lot of extra money paid out. Good luck in settling your case peacefully
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Replying to: szer (Nov 26, 2008 8:43 am)
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Replying to: parviz (Nov 26, 2008 10:46 am) So if you contine to shop Honda's you'll get the same rate at every dealer. Jeremy
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Replying to: mplshondadlr (Nov 26, 2008 11:24 am) The point of agreeing to return the car, is to get the dealer to live up to their promise. If you end up paying more somewhere else.. that's too bad.. but, I'd be damned if I would do it at that dealer. Because.. until you push, you'll never know if they are blowing smoke, and just trying to pull another $500-$800 profit out of the deal. regards, kyfdx
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Replying to: kyfdx (Nov 26, 2008 12:33 pm) I agree there are dealers out there who try to pull a fast one one people. In this case it dosen't stike me as so. To overcome any doubt I would suggest that the person in question ask the F&I guy to see the actual approval from Honda. That should end all doubt. |
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Replying to: mplshondadlr (Nov 26, 2008 1:04 pm) I still vote for: "I'm bringing the car back if you don't sell it to me for the payment and term we agreed upon." So... they get a car back with 300 miles on it, or they eat $500 and he gets the deal they promised... I'm betting they eat it. Your way? He is definitely going to be out more money. regards, kyfdx
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