Last post on Jul 23, 2013 at 12:36 PM
You are in the Smart Shopper
What is this discussion about?
#102 of 138 American Honda Financial
Apr 23, 2010 (9:15 am)
I hate American Honda Financial:
My car will be paid for in 5 months, September 2010. I've been out of work twice in the past 18 months, for a 4 month total span. I've explained to AHF that I've been out of work and that I would pay them what I owed but to please be patient with me. The last conversation took place on 4/16 and I told them I would make payment for the 2 months I was behind on the 4/30, they said okay and it is documented. I'm living week to week, like many Americans, and I need a car to work. On 4/21, they repossessed my car.
I will never buy another Honda, my 3 sons will never buy a Honda, and if I have any influence before I die, my grandchildren will never buy a Honda.
#103 of 138 Re: American Honda Financial [dhamlett]
Apr 23, 2010 (3:08 pm)
Sorry about your situation,but it`s totally your fault here. Not Honda`s. Any carmaker in that situation would have done the same thing. You are in a contract with the carmaker---you pay monthly. You dont--they can repo the car.. As clear as that .
Sorry,but not Honda`s fault that you lost your job or are living paycheck to paycheck.
#104 of 138 Re: American Honda Financial [deltheking]
Apr 23, 2010 (5:18 pm)
In these extraordinary economic times, some lenders have shown flexibility in dealing with customers who contact them and attempt to work out alternative payment plans.
He is understandably unhappy because the person at Honda that he talked with told him it could be worked out, but then his car was repossessed without notice.
#105 of 138 Re: American Honda Financial [oregonboy]
Apr 23, 2010 (6:09 pm)
Yes, I do agree on that ,but I think there is more to the story here. Hope the OP responds back with more details. Then we can help him out or give him further options.
#106 of 138 Re: American Honda Financial [dhamlett]
Apr 26, 2010 (6:34 am)
Could you have borrowed an amount equivalent to the last 5 month's payments and paid off the car? At least this way, Honda Finance could not have repo'd your ride. Paying off the new loan may have been a problem but would've bought you some time. If you were only five months away from paying off the loan, I'd have given you a chance or worked out a deal, unlike AHF. Somebody who was a deadbeat would start missing payments immediately after buying the car, not somebody who almost had it paid off.
#107 of 138 Not the end...
Apr 26, 2010 (6:36 am)
...if he can get current with his payments, he can have his car back. What other fees would he have to contend with a repo? Would the repo be expunged from his credit report if he becomes current and/or pays the car off?
#108 of 138 Re: American Honda Financial [deltheking]
by Kirstie@Edmunds HOST
Apr 26, 2010 (6:39 am)
Pretty harsh, del. I've known others in a similar situation, and lenders have been willing to work with them as long as they stay in contact and are making attempts to get current on payments. No, the financial situation isn't the lender's fault or problem, but if they agreed to take the catch-up payment deal, it's just not very nice to repo the car without further discussion.
#109 of 138 Re: American Honda Financial [kirstie_h]
Apr 26, 2010 (8:08 am)
Yes, staying in contact and working with the lender will do wonders. Several years back I had a medical situation that backed things up only because I didn't feel well enough to attack the bills. As soon as the Honda payment was missing they called. At that point I asked if they could just skip that one month and extend the loan out one month and they'd get everything. They agreed right away and the rest is history.
That said, if they are going to repossess the thing it's some third party that will come in the dead of night because they get fewer people fighting with the tow guy. Happened to the daughter of a friend.
#110 of 138 Re: American Honda Financial [kirstie_h]
Apr 26, 2010 (8:24 am)
Kirstie, Did not mean it to be harsh. I had said in a follow up post that I think there is more to this story. We are not getting the full picture here. Unlikely for a company like Honda to agree and say it is documented and then repo a car. Dont know if there was some mis-communication or something.
If AHF agreed to the deal,then I would have asked them to send me a written copy of the documented proof that both parties agreed to . If AHF has documented proof of the agreed deal and they still repoed the car,time to contact a lawyer.
#111 of 138 Re: American Honda Financial [deltheking]
Apr 26, 2010 (9:20 am)
My experience with AHF is that they do document and send written confirmation of what was agreed to on the phone.