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#122 of 138 Re: American Honda Financial [dhamlett]
Jul 30, 2010 (5:22 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.
There has got to be more to this story.
I was laid off in 2008, I called American Honda Finance right away and explained my situation. I was 3 years into a 5 year payment plan. They agreed to defer payments, as long as I paid the interest every month. the interest on the loan was like $20-30/month, it was financed ar 2.9% APR.
Luckily, I found a good job within 2 months and was back on track.
I can tell you from personal experience that AHFC will let you skip payments.
I would guess that OP missed payments without contacting Honda, and then, after receiving threatening letter, contacted, but it was too late. Repo was probably scheduled already.
#123 of 138 Re: American Honda Financial [blueiedgod]
Jul 30, 2010 (7:39 am)
Yeah, i had an experience with that sort of thing with American Honda Finance. I'd been sick and just fell behind a month. I asked them to extend the loan out a month instead of em trying to play catch up. They agreed right away. Didn't even have to kick me up to a supervisor.
The last thing they want to do is repossess the car.
#124 of 138 Re: American Honda Financial [fezo]
Jul 31, 2010 (8:43 am)
" The last thing they want to do is repossess the car"
Bingo! That is a last resort and an expensive thing for them to do.
I bit my tongue (I know, hard to believe) but I smelled something fishy. I have heard of several instances where Honda will make special arrangements ESPECIALLY if the person has a good history with them.
More to this story for sure...
#128 of 138 Re: American Honda Financial [blueiedgod]
Dec 31, 2010 (10:26 am)
I hate to sit here and disagree with all of you that think this person is wrong! BUT! I have just recently had the same thing happen to me!!!! They say everything is ok over the phone and the next day it was just GONE!!!! I called the police and they told me! Then I worked with Honda and did everything they said to do just for them to come back and tell me today that they still will NOT give me my car back unless I pay it off in full! I have been paying them for 3 years... 2 of which I didn't have a job. Now they will not continue to finance me!!! They are terrible! Mean people!
#129 of 138 Re: American Honda Financial [hondauser2]
Jan 04, 2011 (9:11 am)
For how long did you finance the car - 48 mos, 60 mos, or 72 mos? If you only had a year or two left to pay off the car, that stinks.
Jan 05, 2011 (5:17 pm)
This doesn't fit the discussion, but thought I'd give it a shot here.
A reporter is looking to interview the victim of a tow truck scam: someone who has had their car towed illegally, has had their car held hostage due to extremely high fees, has been approached by a town truck they didn't call for help, etc. Please send your daytime contact information to predmunds.com no later than Jan 6, 2011.
Aug 31, 2011 (11:15 am)
I was out of work for a year and half and during that time capital one moved three payments to the end of the loan. My loan matured and they wanted every cent due at once well I had just started working and tried to work out a payment plan to no avail. They repossed the truck from the train station while I was at work for 2437.00 I redemmed the truck by paying off the balance but they put it as a charge off on my credit the same month I paid it off. is that legal