Honda Financing made me mad!

[Anonymous]

I purchased it in Fayetteville not that I think that matters. I told them I was filing a complaint to Honda, as well as the BBB & FTC. There may not be a cooling off period in NC but there are federal laws against deceptive business practices. Ya know what really sucks.... I haven't even gotten to enjoy the car yet.... I know they are getting a kick back through AHFC however now they are saying Honda won't finance at that rate and the salesman & the finance manager didn't have authorization to give me that rate. He also stated that Honda is only doing 4.9 apr's I told him I know better than that because they are offering .9 & 1.9 apr's on other models so I know it can be done. So we went from 4.24 down to 3.9 then back up to 4.65 now they are saying Honda will only do 4.9??? It's just a shame people can't go out buy something at a decent price and get a finance rate without dealerships like this ruining it for other dealers. Thanks for the support

[Anonymous]

Ok, I called Honda financial to check the status of my loan contract and I told her the whole story with the contract swap that I watched the finance manager sign but it must have been signed with disappearing ink because it was gone when I got home.So she called the dealer and got him on the phone and asked why the dealer didn't sign my contract. He said there wasn't anyone there authorized to sign it... she said your finance manager is the authorized signature. So he is faxing the contract to me signed in the next few minutes... I feel much better now.... it shouldn't have gotten to this point. Again thanks for your support!

[Mslewis1999]

That is so crazy but I am glad that it worked out for you.

[Anonymous]

i thought there was a 48 hour time period to change your mind in all states.  It has to do with the signing of contracts.

[Anonymous]

ABSOLUTELY 100% FALSE. #1 urban legend and the source of tons of heatache, stress, and financial problems. (Not trying to bash you but this "belief" is spread a lot and causes all kinds of problems).

You sign, and you drive car off the lot (take delivery) it is yours. Period. Be 100% sure before you take the car.

Unless there is outright fraud; something like paperwork is for an Accord EX but they give you an Accord LX, Odometer reading is incorrect, VIN# don't match, etc it is your car. Now many car dealerships will accept it as a used car trade in (with the resulting thousands of dollars in stand depreciation).

I don't know how many people I have met that believe there is a 36 hours, 2 day, 3 day, etc "cooling off period" but there is not.

http://www.carspace.com/guides/Whats-the-cooling-off-period-to-back-out-of-my-car-purchase

[Anonymous]

On this website it says by NC law does have a cooling off period.  http://www.north-carolina-lemon-law.com/nc-lemon-law-used-cars.htm.  print it and show this to them; I'd seek legal help if I were you.  keep us posted

[voidman]

I got honda financing for the new Civic, I put down 9k and rest of 10k on loan. The APR is 9% better than 17% that the local credit union was offering for. My credit history was less than 1 month old at that time. 

[Anonymous]

That doesnt make any sense that they would require a 740 credit score. I was approved for financing with Honda January of 2008 with a credit score of 650. They considered  Tier 3, but still, 650 is pretty low and i got approved no problem.

[Bobshur]

I've purchased 4 cars through honda finance.to get lowest rate with longest term which is 5 years,you need 720 FICO usually,unless you are a repeat customer then it's lower.They really respect the repeat customer ,trust me from experience.it is the only car brand I would buy and the only finance company I would use.

[maiden_girl]

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@Anonymous wrote:
ABSOLUTELY 100% FALSE. #1 urban legend and the source of tons of heatache, stress, and financial problems. (Not trying to bash you but this "belief" is spread a lot and causes all kinds of problems).

You sign, and you drive car off the lot (take delivery) it is yours. Period. Be 100% sure before you take the car.

Unless there is outright fraud; something like paperwork is for an Accord EX but they give you an Accord LX, Odometer reading is incorrect, VIN# don't match, etc it is your car. Now many car dealerships will accept it as a used car trade in (with the resulting thousands of dollars in stand depreciation).

I don't know how many people I have met that believe there is a 36 hours, 2 day, 3 day, etc "cooling off period" but there is not.

http://www.carspace.com/guides/Whats-the-cooling-off-period-to-back-out-of-my-car-purchase

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Actually, once you sign the contract, it is yours. Many people believe they can sign the contract and stay on the lot with the vehicle that there's no liability for it simply b/c they've stayed on the lot. Once you sign the contract, it is yours. In California, you may purchase a two day cooling off period contract for basically $500 bucks. $250 for the contract and $250 to return the vehicle. I believe it is only offered for used cars.