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Prices Paid: Buying & Leasing Experiences Honda Pilot Prices Paid and Buying Experience
13817 messages, Last post on Dec 05, 2009 at 9:26 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: golic (Feb 22, 2009 1:24 pm) |
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Replying to: golic (Feb 22, 2009 1:12 pm) |
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Has anybody knows exactly if what would happen if you return the vehicle after 3 months of the purchase? My friend told me that if I return the vehicle, the bank or the financial corporation will going to mess my credit. Is that true? and what else could be happen? Car man thanks for the information of the lease quistion. I appreciate it.
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Replying to: ronnyc (Feb 22, 2009 9:34 am) One more note - your email to Honda doesn't make sense. You do realize that if you didn't have a balloon payment at the end of the term, your monthly payment would have been much higher? Bottom line, if you don't understand the purchase/lease arrangement, then don't do it and stick with traditional financing. |
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Replying to: donix (Feb 22, 2009 3:09 pm) |
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Replying to: jhinsc (Feb 22, 2009 6:50 pm) When I was at Honda four years ago, after waiting six hours without food and my own car now taken away (as they said), I did, at about 10PM, have a discussion with the finance officer. He said at the end of the period (and he never used the term lease), I could use the car to pay off the balance due and the rest of the money towards another car. This sounded OK to me, but I had doubts about the remaining value of the car. In any case, what he said was totally a lie, as there was virtually no chance the value remaining on the car would be enough to cover the balloon alone, let alone anything left over for another down payment. Look, I'm the idiot here. I admit that. I was lead by greed. But I was also deeply mislead by Honda. Now, one must assume I am an adult and at the end of the day I am responsible for this decision, not Honda. That is true. But in fact, they acted immorally. If the finance officer said, as I've stated before, "Ron, at the end of the lease period your car will probably not be enough to pay off the remaining amount and you will have to pay it off. That will mean you will have nothing left for a down payment on another car. Is this what you want to do?" I would have absolutely not done it. I would have either gotten a cheaper or older car, not no car at all. Why would I have wanted this predictable outcome? Honda has only sent me letters; the dealership was extremely vague when I spoke with them. And I do realize the financial conditions now and obviously should have stuck with traditional financing. I paid $7000 down on the car and this is what I ended up with. You can't imagine how angry I am with myself. I've spent the whole weekend in a stupor basically. The end result of this is that Honda will get a few $$ and they will have a permanently angry ex-customer. As for keeping the car, yeah, I would like that obviously. But at $450 a month, probably not. |
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Replying to: jhinsc (Feb 22, 2009 6:50 pm) Option 1: Purchase or refinance your Vehicle (at $450/month for 3 years max) Option 2: Return your vehicle (i.e., get rid of it) Option 3: Undecided. "Take advantage of the time remaining to visit your Honda or Acura dealer to test drive the new line-up of vehicles." What does this mean? I can test drive new cars any time I want; there's no time limit for that. I still have to turn in the car, subtract its value from the balloon ($15000-$12000 max value for the car), pay $3000 more and then what? Start from scratch for a car? Pony up another $10000 down for another car? Doesn't make sense to me. Any car I get will cost me about $3000 more than current price (the balloon-present car value). It will make a car nearly unaffordable. I can turn in my 18000 mile Honda for a 50000 mile Honda, if I'm lucky.
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Replying to: jhinsc (Feb 22, 2009 6:50 pm) RON
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Replying to: ronnyc (Feb 22, 2009 8:21 pm) Most balloon programs include an option to walk away at the end of the balloon term, with no further payments (though I'm not familiar with this particular program). regards, kyfdx |
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I just purchased a 2009 Honda Pilot EX from Love Honda,(just south of crystal river,fl) sale price,$26.131 
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