BlueAc

iTrader: (2)

I purchased an 07 TL on 09/04/07 and everything was all well and good. Then the other day I get a call from the dealer saying that the contract wasn't lined up correctly so AHFC wouldn't accept it and I needed to come sign a new one. So yesterday I go to my dealer and reviewed the "new" contract next to my "old" contract, all the number matched up perfectly so I felt safe signing the new one. Now all of a sudden I get a frantic call from my salesman 9:00 am this morning saying that he forgot to tell me that he needs to send in my 1 first payment with the "new" contract and when can I bring that to him. Now keep in mind the car was purchased 09/04/07 so technically I don't have to make a payment until 10/04/07 (even later factoring in the grace period). Can anybody tell me what they think is going on... should I contact AHFC myself?

Be-in my TL

I don't know what to tell you, but that dealer has problems.

Most people don't mess up contracts =\
If we messed up the agreement with England in 1776, YIKES

Turbonut

iTrader: (1)

Ask the salesman why, then if not a resonable explanation contact AHFC.

BlueAc

iTrader: (2)

I've purchased 3 cars and never been thru some s&^% like this...

darksom1

It's not far-fetched. The finance office makes you sign a form (it's in your paperwork) that states if they can't obtain financing for the vehicle then you have to return it. Sucks but true. However, finance company has to approve all apps and there may be somethings they need changes with.

I don't think they are jerking you around. Maybe not paying attention to details or the guidelines for processing loan documents, but not jerking you around.

TL ROOKIE

check out carbuyingtips.com
this site has some great info on this.

BlueAc

iTrader: (2)

I understood the part about the app not lining about correctly... I could see how it was off alignment when compared to the new one. The part that's losing me is why do I have to give him my first payment early, I mean its not a problem to pay but I have a DUE DATE for a reason.

darksom1

Honda Finance has multi-levels of approving loans based on credit criteria. The due date that the finance office at the dealership gave you, may not have been the proper one for the level you were approved for. It is not "one size fits all" for the credit approval process. I am sure that if you call your finance guy back, he will reiterate what I just said to you.

It is a possibility that part of your approval requires that you make an immediate payment. The finance guy just didn't pay attention as mentioned before, and gave you bad information from the beginning. Thus, the confusion. But if he can produce it in writing that you have to make that first payment as a requirement of the financing he got for you, then by all means if you signed off on it - you have to. Hell, it's also possible that Honda can change the interest rate that you originally were quoted by the finance officer, but you don't have to accept it.

If you simply are asking can they do that, then the answer is a resounding yes! This is why we should be careful and read everything presented to us in that agreement. Finance people make mistakes too, albeit frustrating ones.

darksom1

One other thing. People are referring you to carbuying tip sites. None of that crap can help you. You need to contact the dealership and Honda. Unfortunately, Honda may not have your deal in the system yet. But if they do, they can locate it by the state/dealer, and your social security number.

Don't forget, you do not have to sign a new agreement, but you do have to give the car back if you don't as Honda doesn't have to approve the present one .

BlueAc

iTrader: (2)

Thx for your help darksom1...
I just got off the phone w/ my salesman and he said the issue is that the contract is going back into AHFC late w/ a due date that is right around the corner, so he thinks they want to make sure they get paid before they process the loan. It still sounds like bull to me. So on Monday I'm gonna give AHFC a call and see what's going on. This issue can't possibly have anything to due w/ them fearing I won't pay. This is my 3rd consecutive loan thru AFHC, so far I have over 100 consecutive months of on time payments with them. I'll keep you guys posted.... If anybody cares!

01tl4tl

First off- NEVER speak, or worse yet- listen, to a car salesman- their job is to extract as much cash right now from you as possible, because guess what their paycheck is based on

You need to speak directly and IN PERSON with both the Finance Mananger and
General Manager of the dealership
30 days is normal before first payment- sometimes longer!
And a proven record with them--- it should not be an issue
The dealer pays people within its building to make sure the contract are correct-
if they screw up and need you to drive back in and redo paperwork, now they owe YOU for your VALUABLE time to fix their mistake- a free oil change or something at the very least
(I got an upgraded radio with this scenario once)

Management needs to know whats going on for sure
And so does Acura Care at 1 800 382 2238 x 5
6 am to 5pm pacific time m-f

from someone who was in the biz- do it~