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American Honda Finance Corporation Dishonest Ripff Billing Contract Repossession Philadelphia Pennsylvania
I leased a car from American Honda Finance and the car went into default on both insurance and two car payments. I called them up to discuss my account balance, and the penalties for having the car repossessed. I got into a heated debate with my representative, and I was told that I could not afford the car(among other unprofessional things) and it would be repossessed as soon as possible because i was already defaulted.
I asked to speak to the supervisor of my representative, instead of connecting me to her supervisor, the rep hung up on me. I called right back, and got a different representative. I wanted to speak to a supervisor, as I was very upset. The new rep was VERY nice and he informed me that he would give me 24 hours to pay the money i owed and insure the vehicle. I did both within the time frame. However, the first rep I had went on and had my car repossessed anyway, one day after I had paid the defaulted amount and insured the car, both in full.
The repossession man told me that he had been informed 4 hours prior to come and repossess the car, that the order had just been put in. He also let me know that repossession men have 24 hours to find a vehicle to get paid. So I know that the rep had the car repossessed out of anger, because the car was no longer in default by the time the order for repossession went in and by the time repo man came to get the car, and he told me that he had JUST recieved the order.
The car went to auction about 45 days later (April 13th), I was NOT informed of this in ANY way, by mail or by telephone. I am 100% in the dark about the status of ANY happenings with the vehicle once it was repossessed. I called up Honda to check the status of my account and was briefly told this by a representative, who said that the information was mailed to me on the 23rd of April. To date, I still have not heard from Honda concerning this car.
I was also told that the loan amount I had was for 16,000.00 (for a lease. The car is worth 16,000.00 exactly). I paid off 5,000.00 worth of payments, so my loan was then about 12,000.00 (1,000 or so went to interest). the car sold for 10,900.00 at the auction. I was told by the representative BEFORE my car was repoed that I owed the DIFFERENCE between my current loan amount, the amount the vehicle sold for, and any fees.
I believe that I owe no more than 2,000.00 to 3,000.00 for this car, as it sold for 10,900.00. They are saying that I owe them 8,000.00, but they have not provided an explination. Honda has horrible customer service, and their leases are RIPOFFS. I leased this car without any knowledge of what I was signing (typical of scheming car salesmen and uneducated consumers).
I am taking responsibility for me defaulting and even signing such a ripoff lease agreement, however I would like for other people to know that Honda leases are a big scheme to make more money. I leased a 2005 Civic for 16,000.00 over 4 years. The price of the car was 15,900.00! So in all actuality, I would have brought the car, but still had to return it after the 4 year lease was up. Then they said after i invested the 16,000.00, I could have purchased it for an additional 8,000.00 (The estimated value of the car in 4 years)! That is 24,000.00 for a 15,900.00 car!
What a huge ripoff! I suggest that anyone getting into a lease NOT do it, ESPECIALLY WITH AMERICAN HONDA FINANCE. It's a HUGE waste of money and a HUGE ripoff. They have horrible, unprofessionalm uncourteous service. Better late than never to learn this lesson, but I am trying to save someone else the drama and financial stress! I am taking Honda to court for a number of reasons. I'm not sure if I will win or not, but it's worth a try.
This company has HORRIBLE service, the only thing going for them is their cars. I would rather get a less desirable/dependable car and a rep that has excellent people skills than a great car and a customer service rep that tells me I cannot afford "her" product so she suggests that I just let her take "her" car back.
T
jc, New Jersey
U.S.A.
Click here to read other Rip Off Reports on Honda & Honda Delaers
2 Updates & Rebuttals
T
Jc,New Jersey,
U.S.A.
No Duh
#3Consumer Comment
Sun, April 30, 2006
I am not trying to say that I wasn't wrong, and I don't need anyone to waste my time or the time of this website by telling me to pay on time, NO DUH to that part...but thanks for the "advice".
Have you ever stopped to think that perhaps the penalty for becoming unemployed should be a little lighter for not being able to afford a vehicle that you didn't agree to buy anyway?
That's the ripoff part. Why should anyone basically PURCHASE a vehicle they are only agreeing to "borrow"? The penalties are a ripoff.
The deal was STILL a ripoff because my car got repoed ANYWAY after I had paid and insured the car in full (they ACCEPTED both the payment and the insurance). If they had such a huge problem with this, they shouldn't have accepted the payment and insurance card, but instead told me that they were NOT going to accept it and THEN repoed the car. Don't take my money and still take the car.
Not only that, but they are expecting 25,000.00 for a car that costs 15,000.00 Ridiculous.
However, I have resolved MY issue with Honda, I'm taking them to court. As of date, they have not put this on my credit, and I have not heard a response to my calls. They can put it on my credit if they choose to... it's coming off anyway. I was just trying to spread the news that Honda is the worst company when it comes to communication, and their products are a ripoff, because when it is all said and done... you're out of thousands of dollars.
Just trying to share my experience so someone else can be saved the hassle. Thanks for your "insight", however you may want to be a little kinder in your "approach". People don't take to well to others basically shoving things in their face (as if I didn't know). But at any rate, too bad I didn't meet you 24 hours before I was into getting a vehicle for my family.
Douglas
Orlando,Florida,
U.S.A.
Easy Way To Avoid This!
#3Consumer Suggestion
Sun, April 30, 2006
Here's a revolutionary way to avoid dealing with angry collectors and re-po men.....
PAY ON TIME!!!
If you can't pay on time COMMUNICATE with them in advance!
And finally, why did you get involved in a CAR FLEASE to begin with? In a CAR FLEASE, Y-O-U get sheared!!!